Author Archives: Yves Smith

Warren Buffett Denounces Deficit Hawkery in His Latest Shareholder Letter

Warren Buffett hasn’t yet become an MMT advocate, but he’s officially decided that worrying about Federal deficits is besides the point.

Links 2/23/19

Taxcast: The #LuxLeaks Tax Deals – Still No investigation? Plus Amazon’s $0 Federal Tax Payment

This month’s Taxcast focuses on why the LuxLeaks deals are getting a free pass, the financialization of aid, and Amazon’s tax machinations.

Why a Focus on “Fake News” and Facebook Misses the Internet’s Real Problems – and Solutions

MP’s new ‘fake news’ report largely ignores other platforms like Google and YouTube, and surveillance capitalism itself – and risks sending regulation in the wrong direction.

Links 2/22/19

Los Angeles Times Barks Up the Wrong Tree With CalPERS/American Media Inc. (National Enquirer) Story

The Los Angeles Times tells the story of a CalPERS investment misfire to maximize the outrage factor, and does taxpayers a huge disservice by missing who the real perps were (mind you, not to say that CalPERS isn’t too easy a mark….)

Agribusiness Is the Problem, Not the Solution

Why agribusiness isn’t well positioned to address hunger.

Striking Teachers in Denver Shut Down Performance Bonuses – Here’s How That Will Impact Education

Denver teachers were able to put an end to a performance bonus system they argued was capricious. What impact might this change have?

Don’t “Buyback” Fair Labor Standards

Why the Schumer/Sanders bill on stock buybacks isn’t a very good instrument for improving labor rights and work standards.

Wolf Richter: My Fancy-Schmancy “Fed Hawk-o-Meter” Ticks Down, Still Red-Lines. In Passing, Fed Plants Seed for Removing “Patient”

Not surprisingly, given economic weakness in Europe and China plus Trump trade war saber-rattling, the Fed seems less gung ho about the health of the economy than it was last summer.

Want to Pass Medicare For All? Make Voters Happy By Making Them Happy

Looking at the largely lame excuses for not implementing Medicare for All.

CalPERS Election Vendor Votem on Verge of Failure Just as CalPERS Board About to Approve “Business as Usual” Election Notice

More proof that CalPERS CEO Marcie Frost is so busy with self-promotion that she can’t be bothered to have her staff execute adequately on important but not-that-difficult tasks.

Links 2/20/19

Opioid Crisis Shows How Economic Inequality Kills

Opioid abuse has strong economic roots, namely despair resulting from desperation in struggling communities.