Author Archives: Yves Smith

Canadian Bank Run Contagion Begins?

A Canadian subprime mortgage lender is on the ropes. Is the end of the real estate bubble nigh? If so, how much damage will banks take?

CalPERS Hides Bogus Persecution: Promised Public Hearing for Lone Effective Director Held in Secret

CalPERS doubles down on a bogus scheme to neuter its one effective board member reneging on its promise to have a public hearing of charges.

The Fall of the Latin American Left, Part III: Argentina and the Right Winning Elections

How the Kirchner program in Argentina ran into the buzz saw of currency markets.

Globalization and the End of the Labor Aristocracy, Part 3

On the current structure of globalization and its implications for the distribution of income within and between countries.

Reminder: Washington DC Area Meetup Tonight, April 28!

Our NC meetup near Washington DC is tonight! Be there or be square!

Wall Street Journal Reports on Appearance of Private Equity Self-Dealing at Blackstone and Other Firms Nearly Four Years After We Broke the Story

So why is the Wall Street Journal years late in reporting on private equity self-dealng, and underplays its seriousness to boot?

Why Anti-War Purity Tests Are Not Sound Political Strategy

Why head on opposition to war has failed and other approaches have better odds of long term success.

Mark Ames: Credit Suisse Decries Russian Inequality After Playing Leading Role in Creating It

Credit Suisse criticizes Russian inequality after having profited handsomely from playing a big role in creating it.

“Howard Marks Seems to Read Naked Capitalism” on Private Equity Fund-Level Borrowing That Juice Reported Returns While Increasing Risks

Storied investor Howard Marks penned a not-very-positive post on private equity subscription lines of credit, echoing our earlier warnings.

The Fall of the Latin American Left, Part II: Venezuela’s Heterodox Collapse

Why Chávez’s reforms in Venezuela, which worked for many years, foundered as officials rejected legitimate criticism for political reasons.

Don’t Miss Our Washington DC Area Meetup This Friday, April 28!

If you work or live near Washington DC, please stop by our meetup this Friday!

The Operation and Demise of the Bretton Woods System: 1958 to 1971

Even though the Bretton Woods system was short lived, legacies like the dollar standard remain and are likely to be with us for some time.

The Fall of the Latin American Left, Part I: Brazil’s Boom and Bust

Discussing why the left in Latin America lost power, starting with Brazil.