The Chinese Banking System: Much More Than a Domestic Giant
Chinese banks have become major foreign lenders, making China the eighth biggest financial center in the world.
Read more...Author Archives: Yves Smith
Links 2/9/18
US Stock Markets Enter Correction Territory as Dow Falls More Than 1000 Points
The stock market continues to be moody as investors fret that good economic data means more Fed rate hikes.
Read more...CalPERS Manages to Get Pretty Much Everything Wrong in Its Latest Asset Reallocation
CalPERS continues to be lousy at market timing.
Read more...UK Asks the Rest of the World to Be Super Duper Nice and Act as Its Old Deals Are Still Valid Post Brexit
Yet another Brexit train wreck.
Read more...Protests in Tunisia Over IMF-Promoted Policies….for Good Reason
Why the IMF’s standard prescription is a poor fit for Tunisia.
Read more...Links 2/8/18
The Payback: Why Aren’t Black Voters Rewarded by the Party That Depends on Them to Win Elections?
The Democrats don’t do much for black voters, and it’s getting a bit too obvious.
Read more...Why Australia’s Skilled Migration System Is Failing – Will the UK and US Take Note?
Why are skilled migrant programs not working all that well, in terms of employment outcomes?
Read more...Why Is the American Left So Prejudiced About the South?
Yves here. Having spent time in the South, in general, Northerners carry huge class prejudice against Southerns. The same way a British accent is worth 20 attributed IQ points, a Southern accent is an attributed reduction of about 10 points. The Southerns I know who are not treated that way are people who managed to […]
Read more...Links 2/7/18
Will Upcoming Brexit Negotiation Round Finally Cause Hard Core Brexiter Heads To Explode?
Brexit screeching gets ever louder as it becomes harder to keep reality at bay.
Read more...Bailed-Out RBS Systemically Forged Customer Signatures: Whistle-Blowers
It is not an exaggeration to call RBS evil. See some of the reasons why.
Read more...New Study Finds Cancelling Student Debt Provides Broad Economic Benefits at Low Cost
A new study out of Bard will no doubt produce a hissy fit among orthodox economists…assuming they don’t succeed in ignoring it instead In The Macroeconomic Effects of Student Debt Cancellation, Scott Fullwiler, Stephanie Kelton, Catherine Ruetschlin, and Marshall Steinbaum present a detailed examination of the costs of cancelling all student debt, public and private. […]
Read more...There’s a Much Smarter Way for Cities to Plan Their Futures
Why the “smart cities” movement needs to adopt better goals and metrics.
Read more...