Can the US Treasury Run Out of Money When the US Government Can’t?
Debunking some arguments against MMT by explaining why the US Treasury can’t run out of money.
Read more...Author Archives: Yves Smith
The Doomsday Economics of ‘Proof-of-Work’ in Cryptocurrencies
Why inherent problems with cryptocurrency liquidity are already leading to consideration of other methods for validating blockchain updates. They are likely to prove unsatisfactory and therefore call for verification by a trusted institution….defeating the rationale for cryptocurrencies.
Read more...The Incoherence of Larry Summers, a Serious Economist
Larry Summers as a negative indicator.
Read more...Links 3/7/19
2018: A Banner Year for China, Other US Trade Partners, and Corporate America
China wins big in trade in 2018.
Read more...Is a Harvard MBA Bad for You?
Why an MBA is not what it is cracked up to be.
Read more...Cities And Counties Unlikely To Heed FDA Warning On Importing Foreign Drugs
The FDA goes to bat for the right of drugs makers to price gouge Americans.
Read more...#MeToo Whistleblowing Is Upending Century-Old Legal Precedent Demanding Loyalty to the Boss
Why whistleblowing is a recent development.
Read more...Links 3/6/19
Brexit: Slouching Towards Bethlehem
No one knows what is set to happen on Brexit day.
Read more...The Possible Chinese-US Trade Deal
A review of opinions in the English-speaking blogosphere on the likely content of the US-China deal and the message this agreement sends to the world.
Read more...Trump Looks To Nationalize 5G
Wellie, if the government owns the 5G network, you won’t have any doubt as to who has access to what you did over it.
Read more...Hubert Horan: Can Uber Ever Deliver? Part Eighteen: Lyft’s IPO Prospectus Tells Investors That It Has No Idea How Ridesharing Could Ever Be Profitable
Lyft’s prospectus doesn’t even pretend that the company might become profitable, let alone justify a $20-25 billion valuation.
Read more...CalPERS CEO Marcie Frost Gives Contradictory, Nonsensical Justifications for Muscling the Board to Approve Private Equity Scheme in March
Frost’s justifications for CalPERS new private equity scheme becomes more incoherent as time goes on, but that is unlikely to prevent the captured board from giving it a green light.
Read more...Do Real Estate Markets Make Our Cities Less Livable?
Author Samuel Stein talks about how capitalism shapes cities.
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