Author Archives: Yves Smith

A Rational Backlash Against Globalization

“In a democratic society that values equality, globalization cannot survive in the long run.”

Links 9/28/18

The Fracking Industry’s Water Nightmare: Injection Wells Damage Production Wells, Rising Disposal Costs Will Increase Industry Losses

The fracking industry’s wastewater disposal is an unrecognized production and economic problem that is going from bad to worse.

SEC Sues Elon Musk for Fraud, Seek to Bar Him Permanently from Executive, Board Role in a Public Company

Elon Musk put himself in the SEC’s crosshairs.

Why Dodd-Frank Is a Protection Racket for Banks

How Dodd-Frank left banks’ massive lending and safety-net subsidies intact.

The US-Mexico Trade Deal Dies

How the US effort to push a trade agreement with Mexico over the line fell apart.

Adam Ashton of the Sacramento Bee Publicizes This Blog (and CalPERS’ Frustration With It)

Adam Ashton of the Sacramento Bee questions why we would want to expose public corruption and incompetence at CalPERS. No, I am not making that up.

The Bank of International Settlement’s Claudio Borio, Who Warned About the Crisis, Says the World Economy Is About to Get Very Sick

BIS chief economist Claudio Borio warns that central bankers have overdone the liquidity party, and investors are not being paid enough to take ris

Something Russia and EU Appear to Agree on – the Euro

The very rational case for Russia and the EU to trade oil in euros.

California Treasurer John Chiang Calls for an Independent Investigation of CalPERS CEO Marcie Frost’s Hiring Misrepresentations

California Treasurer John Chiang objects to CalPERS efforts to treat documented evidence of CEO Marcie Frost making repeated misrepresentations about her background as a PR problem and calls for a serious investigation.

CalPERS’ CEO Marcie Frost’s History of Embellishment and Poor Management Goes Back to Washington

Yet more confirmation of our findings regarding CalPERS CEO Marcie Frost’s record of misrepresentations.

Link 9/26/18

Joseph Stiglitz and Alexandria Ocasio-Cortez Talk Social and Economic Justice

Alexandria Ocasio-Cortez continues to be in the limelight. Is she getting her political footing yet? And will she live up to her “democratic socialist” brand, or is she getting more cozy than necessary with establishment Democrats?

Hard-Brexit Lobbyists Demand UK Roll-Back Environmental Standards to Strike Free Trade Deals with India, China and US

Another ugly but far-from-secret element of what was in store with a Glorious Brexit.