Author Archives: Yves Smith

The Failure of Austerity in the Great Recession

More evidence that austerity is a bad idea.

The Overlooked Past Behind U.S.-North Korea Tensions & How South Korea Could Forge Peace

Some history on the hostilities between the US and North Korea, and how that plays into the recent escalation of tensions.

More Evidence That Charter Schools Are a Taxpayer Ripoff That Delivers Poor Results

A damning new report from California shows that charter schools are a grift that profits investors at the expense of taxpayers and children.

Dirt as a Carbon Sink?

Could dirt be a magic bullet in the fight to reduce carbon levels?

How Land Disappeared from Economic Theory

Why the removal of land from economic theory is a glaring oversight.

Links 4/12/17

United Passenger “Removal”: A Reporting and Management Fail

The reporting on United’s aggressive removal of Dr. David Dao has been misleading and also neglected the depth of management lapses.

It’s Not the Gig Economy, Stupid

Why the decline in labor unions has had a bigger impact on the fallen state of wage workers than the much ballyhooed gig economy.

Wolf Richter: Wild Housing Speculation Drives Entire Canadian Economy

Canadian housing continues on its relentless rise because too many people can’t afford to have it stop.

Embracing the Silver Economy

Does the silver economy, meaning one where the over 65 age cohort is growing faster than other age groups, have a silver lining?

Links 4/11/17

IMF Blames Fall of Middle Class on Globalization and Technology

An IMF report comes up with some orthodoxy-reinfocing conclusions by failing to address some key issues.

Wells Fargo Fake Accounts Investigation Whitewashes Glaring Risk Management Failures

Wells’ law firm Sherman & Sterling issues a tough-sounding report on the fake accounts scandal that is really a coverup for its board.

Business Press Waking Up to Bank Legacy IT Risk

Reuters discusses the challenge of moving off legacy systems. While the piece is a long overdue, it still seems more than a tad optimistic.

Student Debt Bubble Sucks Even More Out of Economy and Ruins Lives, Yet Officials Keep Inflating It

The student debt problem is only getting worse and no one in power has any interest in addressing it.