Author Archives: Yves Smith

Links 4/5/17

Richmond Fed’s Jeffrey Lacker Departs Due to Leak: Defenestration as Coverup?

In a stunning development, Richmond Fed president Lacker resigned over a leak under investigation since 2012. The details are not pretty.

Health Care Corporate CEOs Fret About Physician Burnout….Because It Hurts Their Profits?

Health care execs say they are worried about doctor burnout….but what are their real motives?

Why Did CalPERS Pay FTI Consulting $224,625 for a Garbage-In, Garbage-Out Private Equity Whitewash?

Why did CalPERS hire FTI Consulting to cover up for private equity firms?

Links 4/4/17

Gaius Publius: It’s Not About Gorsuch, It’s About the Democrats

The Gorsuch vote will show if there is any shred of hope that the Democrats intend to woo disaffected voters.

Italian Banks: Not Quiet on the Eastern Front

Never before have I seen the condition of a bank’s finances (in this case liquidity) described as “hemorrhagic”. Italians beware!

Big Companies Shake Fingers at Employees for Raiding 401(k)s

401(k) “leakage” is yet another sign of the wobbly state of many Americans’ finances.

Wolf Richter: This Economy is Ruined for Many Americans

The lower tier of the two-tier economy is not faring at all well.

Links 4/1/17

Ilargi: Our Economies Run On Housing Bubbles

A look at the long-term role of home price bubbles in multiple countries.

The Paradoxes of Fiscal Austerity in Brazil

Brazil as a test case of austerity per neoliberal theory v. outcomes.

Why Has Italy’s Banking Crisis Gone Off the Radar?

An update on Italy’s festering bank crisis.