FinTech and Banks
Why FinTech will not be as disruptive as its promoters would have you believe.
Read more...Author Archives: Yves Smith
Stock Buybacks Hurt Workers and the Economy. We Should Ban Them.
The Reagan Administration ushered in stock buybacks as legalized manipulation. Time to put it to an end.
Read more...Links 3/2/18
Top NYT Editor: ‘We Are Pro-Capitalism, the Times Is in Favor of Capitalism’
The Times swears its fealty to the 10%, um, capitalism…
Read more...Trump’s Tariff Threat to Kick Off Trade War?
Trump is threatening to kick off a trade slugfest via tariffs on steel and aluminum. Will he follow through?
Read more...MIT Study: Median Uber and Lyft Profits Less Than Half Minimum Wage; 30% of Drivers Lose Money
Yes, it is now official: you really are engaged in exploitation when you use Uber or Lyft.
Read more...With Official Unemployment This Low, Why Are Wages Rising So Slowly?
Why has wage growth been lousy in a supposed recovery? Thank your politicians for fostering the growth of the precariat.
Read more...Tories, Trapped by Their Red Lines, Again Blame EU as Clock Runs Down
Assume the brace position. A hard Brexit is looking more likely.
Read more...Money: The High Cost of Betrayal
The misrepresentation of how the US money system works is worse than mere economic malpractice, which is already pretty common.
Read more...Commentary on Study Finding Gun Injuries Fall 20% During NRA Conventions Curiously Omits Some Possible Explanations
Arguments have already started over the implications of a new study that finds that gun injuries fall sharply when the NRA convention is on.
Read more...Priceless Moments: How Capitalism Eats Our Time
Market economy to you: “All your time are belong to us”
Read more...Why CalPERS Private Equity Outsourcing Beauty Show Is Arbitrary and Capricious
More evidence that CalPERS is making a hugely important and costly decision in a cavalier, even reckless, manner.
Read more...Bitcoin as Prosecution Futures: Coinbase Agrees to Turn Customer Records Over to Department of Justice for Possible Tax Evasion
Even in the US, which so far has been more lenient toward cryptocurrencies than China, the noose is tightening. Top Bitcoin exchange Coinbase has decided that trying to defy the law, in terms of not complying with a IRS summons requiring it to turn over information about customers who had engaged in more than $20,000 […]
Read more...All Guns, No Butter: Military Contractors as Welfare Queens
The Trump budget is particularly shameless in providing more pork to the military despite the absence of any genuine pressing need.
Read more...Time to Stand Up for Dumb
The New York Times today gives an extremely cautious and narrow defense of traditional, now denigrated as “dumb” devices: In an Era of ‘Smart’ Things, Sometimes Dumb Stuff Is Better. It listed a grand total of five examples: A wristwatch vs. Apple Watch A car mount vs. a smart car console An alarm clock vs. […]
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