An MMT View of “Twin Deficits”: Budget and Current Account Deficits
Why the worries about the US budget deficit and China buying Treasuries are overblown.
Read more...Author Archives: Yves Smith
Hope to See You At Our Birmingham Meetup This Monday, November 19
Hope you can join our Birmingham meetup!
Read more...Links 11/17/18
Labour MPs Should Vote Against Theresa May’s Brexit Deal. It Is a Poison Pill
Labour wants to play a game of chicken with May over Brexit.
Read more...How Trump’s Game of Chicken With Iran Could Weaken the Dollar’s Role as the World’s Currency
Politicizing the SWIFT payments system is leading other nations to the search for alternatives to the dollar.
Read more...A Naked Capitalism Win: No More Poop in the Loop
How a reader documenting a horse dump problem in Chicago’s Loop led to a clean-up.
Read more...When the Middle Class Lost Its Wealth
Until 2008, rising home values gave the middle class a cushion amid growing income inequality. But following the financial crisis, that wealth has failed to return.
Read more...Everything You Thought You Knew About Western Civilization Is Wrong: A Review of Michael Hudson’s New Book, And Forgive Them Their Debts
Why debt unforgiveness is the original and incurable curse on our post-eighth-century-B.C. Western Civilization,
Read more...Gaius Publius: Amazon Rips Off 238 Cities, States and Provinces, Then Builds in NYC and DC
More evidence that Amazon is nasty.
Read more...CalPERS Abandons One Part of Private Equity Scheme, Lies About the Rest, but Addled Business Press Continues to Get the Story Wrong
CalPERS is flailing about with its private equity “new business model.”
Read more...Reminder: Birmingham Meetup for Monday, November 19
Hope to see you folks in the Birmingham area next week at our meetup.
Read more...Our New York Magazine Article: “Fake ‘Unicorns’ Are Running Roughshod Over the Venture Capital Industry”
Fake unicorns are a real problem for the venture capital industry.
Read more...Links 11/15/18
Brexit: Brexit Minister Raab Resigns; May to Face Hostile Parliament. Update: Two More Resignations, Bringing Total So Far to Four, Now Six
Another rough Brexit day for Theresa May in the offing.
Read more...Uber Releases Ugly 3Q 2018 Results: Losses Widen to $1.1 Billion, Growth Slows
It”s getting hard to believe Uber’s story.
Read more...