Big Money—Not Political Tribalism—Drives US Elections
Conventional wisdom asserts that American politics is becoming more and more tribal. But the chiefs of the tribes share a lot in common: dependence on big money.
Read more...Author Archives: Yves Smith
Quick Thoughts on the Google Walkout
What the Google walkout says about the company’s management and the Silicon Valley view of employee rights.
Read more...Mischaracterizing HAMP and Principal Reduction: A Regression Discontinuity Test Error
Explaining a fundamental error in a widely-touted paper on HAMP modifications.
Read more...CalPERS CEO Marcie Frost Describes Her Intent to Leave the CalPERS Board Holding the Bag for Flawed Private Equity Scheme She’s Pushing Them to Approve
CalPERS CEO Marcie Frost is totally out of her depth, but as drowning people often do, she’ll pull other people down to save herself. In this case, it’s the CalPERS board.
Read more...Link 11/1/18
Economic Distress Did Drive Trump’s Win
Contrary to the dominant media narrative, social issues like racism and sexism on their own can’t explain Trump’s success.
Read more...As the Fed Tightens, Where Will the Credit Crunch Pinch First?
Who will feel the pain first in the coming credit squeeze?
Read more...What’s the Problem with Financialization?
Some of the analytical sleights of hand used to promote the ideology of financializatation.
Read more...Yanis Varoufakis: How the Italian Budget Fight Helps Brussels and Salvini, Hurts Europeans and the Eurozone
Contrary to popular perception, Brussels and the Italian government come out ahead from sparring over Italy’s budget, and what works for them does not work for much of anyone else.
Read more...“Fatally Flawed” Paper on HAMP Mortgage Program Gets Program Design Backwards, Botches Regression Analysis, Yielding Propagandistic Findings
How a new paper on HAMP manages, by not understanding the program. to whitewash it as well as promote financialization.
Read more...Brexit Stress Rises: Pound Weakens on S&P Crashout Warning, Norway Nixes “Norway,” Migrant Status at Risk
Brexit news still looks decidedly uncheery.
Read more...Estimating the Impact of Climate Change Costs on Growth: Is Degrowth Already Here?
Some back of the envelope estimates show that the economic cost of climate change is already cutting into growth in a big way….and it will only get much worse.
Read more...CalPERS Stakeholder Groups Refuse to Run CEO Marcie Frost’s Misrepresentations About Its Reckless, Unjustified Private Equity Scheme
CalPERS CEO Marcie Frost continues to damage her already-tarnished name by flogging a hare-brained private equity “new business model” for which she cannot provide a coherent justification.
Read more...Michael Hudson: Rescuing the Banks Instead of the Economy
Michael Hudson on his themes of how banks are mainly funding real estate rather than the economy and the problem of failing to write down debt that can’t be repaid.
Read more...Marshall Auerback: So Far, the Big Trade War Loser Is China, Not the U.S.
China has more of a glass jaw than most economics commentators thought. But how is Trump’s trade war likely to progress?
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