Author Archives: Yves Smith

Confidence or Dead CEO Walking? CalPERS Staff Pressured to Wear Badges of Support

Yet another embarrassment at CalPERS.

Trump and the Midterms: Is It Not The Economy, Stupid?

What role did the state of the economy likely play in the midterm results?

Links 11/13/18

Brexit: A State Change Nigh? Updated: UK and EU Said to Reach Agreement; Key MPs Denounce It

If May does not get her vaunted Brexit breakthrough this Wednesday, the UK will have to start passing “no deal” emergency legislation and laying out funds for preparation. Expect the dial to go to 11 if that happens.

Boeing, Crapification, and the Lion Air Crash

Boeing looks culpable for the Lion Air crash that killed 189 people.

Australia’s New Grain Deliveries Plunge Due to Drought

Another sign of climate change induced stress, this one from Australia.

AOC Rental Woes a Reminder of Worsening Conditions for Workers

Rising rental costs put a spotlight on how it is even harder than ever for ordinary workers to get by.

J.D. Alt: Treasury Bonds Are Future Dollars

Clearing up fundamental misconceptions about US Treasury bond issuance.

CalPERS Self-Dealing: Board and Staff Grift at CalPERS Expense Via Grossly Underpriced Liability Waiver; Fiduciary Self-Insurance Policy “Invalid on Its Face” Due to Lack of Reserves

CalPERS board members and staff have violated state conflict of interest rules to a degree that appears to be criminal.

Links 11/10/18

Confirming Birmingham Meetup for Monday, November 19

Hope you can stop by our next meetup!

Cryptocurrencies: Financial (In)stability and (Un)fairness

If private cryptocurrencies were to find widespread economic use, either coexisting with or fully displacing fiat money, the result would be increased financial instability, inequality, and social instability.

Brexit Dithering and a Labour Push for Revocation?

More Brexit motion, but progress is likely a very different matter.