Author Archives: Yves Smith

CalPERS’ Long-Term Care Policy Train Wreck – Is Bankruptcy the End Game?

CalPERS’ long-term care policy mess is even worse than industry norms, which is saying quite a lot.

The Numbers Are In, and Trump’s Tax Cuts Are a Bust

Why Trump’s tax “reforms” didn’t deliver on growth, just on rentierism.

The ‘New Right’ Is Not a Reaction to Neoliberalism, but Its Offspring

Why the success of the far right shows that neoliberalism is very much alive and well.

Links 7/16/19

Taxes for Revenue Are Obsolete

In a 1946 classic, New York Fed chairman Beardsley Ruml explains why taxes aren’t necessary for Federal spending and argues against corporate income taxes.

CalPERS Sleaze Watch: Showcases Criminal Ex-General “Betray-Us” as Keynote Speaker at Offsite

CalPERS demonstrates its lack of interest in ethics and propriety.

CalPERS’ Hedge Fund With 34% Stake in National Enquirer Parent Alleged To Be “Parking” Rather Than Selling (Updated)

Some funny-looking business with CalPERS desire to be rid of National Enquirer’s parent, American Media.

737 Max May Stay Grounded into 2020; Why Does Boeing CEO Muilenburg Still Have a Job?

Boeing remains mired in its 737 Max mess.

Links 7/13/19

Is There a Global Future for Unions?

A personal retrospective on the forces driving the rise and decline (and hopeful revival) of unions.

A World Without Ice

Looking at the impact of the loss of ice in nature.

Michael Hudson: De-Dollarizing the American Financial Empire

Michael Hudson on how the US was able to turn its change from creditor to debtor to its advantage.