Author Archives: Yves Smith

Links 12/15/18

Trump Models His War on Bank Regulators on Bill Clinton and W’s Disastrous Wars

Why “partner” is the last word you want to hear from the mouth of a bank regulator.

Brexit: Unicorns Rampant

The UK continues to flail about as the Brexit clock keeps ticking.

CalPERS Admits Its New Private Equity Funds Will Dilute Returns, Seeks to Change Benchmark to Hide That; Presents Other Questionable Claims as Top Investors Underperform Due to “Alternative Investments”

Awfully late in the game, CalPERS finally tries to ‘splain its private equity plans. The giant fund only digs its hole deeper.

“You’re Worth $1 Trillion. Why Do You Need Our $3 Billion?” Angry New Yorkers Confront Amazon Execs at City Council Meeting

Amazon has said its new headquarters in New York will create 25,000 jobs for residents—a claim one protester derided as “smoke and mirrors”

Our New York Magazine Article: “‘Alpha Wolves in the Henhouse’: California’s Multibillion-Dollar Private-Equity Boondoggle”

Putting CalPERS under the hot lights for its questionable private equity plans.

Why It’s So Hard for Most Countries to be Economically Independent from the West

Western countries insist both on “free trade” with poor countries and farm subsidies for themselves.

Links 12/13/18

Brexit: Endgame

As the Brexit clock is running down, so too are the available plays.

JJ Jelincic: CalPERS’ New Private Equity Model – What’s the Payoff?

CalPERS claims for its private equity “new business model” don’t add up. That suggests there are other motives.

Toxic Philanthropy? The Spirit of Giving While Taking

Why to be leery of philanthropy, particularly when practiced by squillionaires.

Do Climate Policies ‘Kill jobs’? An Economist on Why They Don’t Cause Massive Unemployment

Sadly, an upbeat take on what “green” policies might means for jobs greatly understates the depth of economic restructuring needed to reduce the pace of climate change.