Author Archives: Yves Smith

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.

Marshall Auerback: Apple Has an Early Case of GE’s Disease

Silicon Valley stars like Apple suffer from financialization—the same ailment that felled GE and Lucent.

US Policy On Iran After The Midterm Elections

A clear Senate majority gives Trump more support for playing tough with Iran. But how productive is this likely to be?

Stock Markets Do Not Create Value

A new study on stock price performance undermines conventional thinking.

Links 11/8/18

Wolf Richter: The State of the American Debt Slaves, Q3 2018

Consumer debt continues to grind upwards.

How UK (and US) Surveillance Creates Havoc for Personal Data Movement Post Brexit

The UK’s surveillance state poses legal problems for the legality of personal data transfers to it post Brexit, and the UK and EU are not close to having a solution.