Author Archives: Yves Smith

IPCC Manipulating Climate Report Summary to Favor Wealthy Nations

The upcoming IPCC report overview is being airbrushed so as to cut unwarranted slack to developed economies.

How CalPERS CEO Marcie Frost’s Efforts to Organize Astroturf Support Are Compromising Her

If she succeeds, the survival efforts of CalPERS CEO Marcie Frost will come at a cost to the giant pension fund.

Does the U.S. Have the Ingredients to Win a Trade War?

In winning the trade battle with China, Trump may lose the war against inflation.

Links 9/22/18

The Spider’s Web: Britain’s Second Empire

How Britain’s system of offshore finance and tax havens developed and preserved the UK’s role as the largest player in international finance.

Why the Public Debt Should Be Treated as an Asset

Debunking the misconceptions about the role of debt of a currency issuer like the US or UK.

Crash Out Brexit Virtually Guaranteed as EU Leaders Talk Tough to Theresa May, Reject Chequers Plan, and Give Her October Deadline

Brexit negotiations are over. The only question is whether the EU and UK continue to expend energy talking past each other.

Post Crisis Measures Have Failed to Tame Derivatives Risks

Derivatives remain an untamed systemic risk.

Why the “Green New Deal” Is a Headfake

How “Green New Deal” proponents repeat the intellectual errors made by the critics of the 1970s Limits to Growth studies.

On Brexit, UK Negotiators Have Adopted a Hard Bargaining Strategy

A look at the UK’s negotiating stance, charitably assuming that it is by design.

Links 9/20/18

Michael Hudson: 10 Years Since Lehman Brothers Bankruptcy – Did the Economy Really Recover?

Michael Hudson discusses the economic impact of not writing down debts in the wake of the crisis.

Here’s Why Setting a Maximum Wage for CEOs Would be Good for Everyone

CEO pay needs to be curbed, and a maximum wage is one way to do it.

How Climate Change Is Increasing Global Hunger

New bad facts on world hunger.