Author Archives: Yves Smith

What Should the EU Do About the Turkish Currency Crisis?

The Turkish lira has been under significant pressure in recent weeks. What is the EU’s exposure to possible crisis in Turkey and how should the EU react?

Richard Murphy: “First, Let’s Kill All the Accountants” – On Accounting’s Systemic Failure

Why taking accounting for granted is a really bad idea.

The Mechanics of Cryptocurrency

An examination of cryptocurrency practicalities.

Links 8/17/18

The Trump-Media Logrolling

Looking at who the media has silenced in the Trump era, such as critics of America’s wars and of Israel.

Half-Baked Plan to Institutionalize CalPERS’ Kangaroo Court by Board President Priya Mathur and General Counsel Matt Jacobs Suffers Embarrassing Rejection by Board; Instigators Unduly Eager to Revive It

CalPERS General Counsel Matt Jacobs and Board President Priya Mathur get well-deserved black eyes.

Tom Engelhardt: America’s Groundhog Day Wars

A look at how long and how deeply the US has been mired in its many wars.

Ten Years After the Crash, Some Progress, But Much More Remains to be Done

A reading of what has changed since the crash and what problems remain.

Links 8/16/18

Hubert Horan’s Quick Take on Uber’s Second Quarter Results

Uber’s latest financial report confirms Hubert Horan’s predictions.

Why Elizabeth Warren’s Accountable Capitalism Act Will Be Good for Shareholders

Why shareholders are getting a raw deal out of the misguided corporate fixation on “maximizing shareholder value,” and Elizabeth Warren’s new bill is therefore good for them.

Sacramento Bee Fingers CalPERS CEO Marcie Frost, General Counsel Matt Jacobs, and Board President Priya Mathur in Asubonten Resume Fabrication Scandal

Even the Sacramento Bee is compelled to call out CalPERS executives for their failure to do basic checking when hiring former CFO Charles Asubonten.

France Could Lose Billions In Brexit Trade Route Redirection

How French ports and hence France look set to lose in Brexit.

The CFA Franc Zones: Neocolonialism and Dependency

How France still exerts influence over the CFA franc zone.

Links 8/15/18