Author Archives: Yves Smith

Gaius Publius: Finding the Greater Fool — The Elite Logic Behind “Going Over the Climate Cliff”

How the Secena Effect explains climate change apathy among the elite.

New York City Mortgage Delinquencies “Elevated”: What’s the Likely Real Cause?

Why high levels of mortgage delinquencies in the New York City area are a symptom of still-unresolved mortgage abuses.

Links 6/20/17

Brexit and the Future of the Irish Border

Why there is no good solution of the Irish border problem in Brexit, and how the Tories’ new buddies, the DUP, have contradictory goals.

Why the Wall Street Journal Is Wrong About the US Oil Export Boom

Debunking a Wall Street Journal article on rising oil exports.

New York Times Sends Cease & Desist Letter Over CalPERS’ Massive Copyright Infringement; Potential Damages Eight Figures for Times and WSJ Each; Theft Extends to Virtually Every News Publication in US

CalPERS, the biggest public pension fund, appears to have perpetrated the largest copyright infringement in the history of the news industry.

“Heads Should Roll at CalPERS”: Who Should Be Held Accountable for Massive Copyright Infringement?

CalPERS’ copyright theft is so large and indefensible that not only might it force a shakeup, but the truly responsible people could go.

Links 6/17/17

What the Romans Did for Us: On the Age-Old Art of Propaganda

On propaganda’s ancient roots and how much modern practice resembles the Roman playbook.

EU Firms Up Brexit Bill Negotiation Position: Ask of €99.6 Billion Gross Liabilities

Some of the finer points of Brexit negotiations come into focus.

Obamacare “Reform” May Be Going Pear-Shaped in the Senate

Senate Republicans opted for radical secrecy in trying to craft Obamacare reform. They may just be hiding how serious their divisions are.

Yanis Varoufakis: Latest Eurogroup Statement Keeps Greece on the Austerity Rack

The Eurogroup doubles down on Greek debt extend and pretend, to its members political advantage and at great cost to Greek citizens.