Author Archives: Yves Smith

Financial Stability Regulations: A (Non) Progress Report

A survey of major financial reform initiatives finds they have been insufficient. That’s not an accident.

Debunking Mainstream Economists on Secular Stagnation and the Loanable Funds Fallacy

An important, accessible takedown of the loanable funds theory, on which a ton of bad policy rests.

Links 12/22/17

Thomas Cox: A Sweet Christmas Gift for a Client in Maine

Nationally famed foreclosure defense attorney Tom Cox scores a Maine Supreme Court win that saved a client’s home right before Christmas.

Holiday Schedule

Gaius Publius: New Study Evaluates Climate Models — Best Ones Also Show the Most Global Warming

A new study of the performance models shows more convincingly than ever that we are cooking our collective goose.

Larry Summers: Reagan’s Tax Plan Was Better Than Trump’s

Summers on inequality, the GOP tax plan, and US economic prospects.

Defining the Tax Reform Battleground

How tax “reform” policy discussions reinforced destructive economic ideas.

Exposure to Brexit in Regions on Both Sides of the Channel

A granular analysis of which regions will lose most from Brexit.

Quelle Surprise! Apple Rips Off Owners of Older iPhones

More evidence of Apple crapification and customer abuse.

Bill Black: DSGE Dilettantes v. ADM God Devotees

Black shows how DSGE defenses fall apart, even as their backers lash out at critics.

Links 12/20/17

Lee Camp: How To Create NPR’s Propaganda – As Seen In a Hit Piece Against Me

NPR stoops to intellectually and factually dishonest bashing of comedy host Lee Camp. Not the behavior of a confident elite.

Why Stopping Tax “Reform” Won’t Stop Inequality

Inequality isn’t driven by taxes—it’s driven by the power of capital in relation to workers.

The Bitcoin Bubble

As bitcoin has become a mania, it is also becoming a risk to the real economy.