Author Archives: Yves Smith

Wolf Richter: “Negative Growth” of Real Wages is Normal for Much of the Workforce, and Getting Worse – New York Fed

The Fed ‘s creative euphemisms for how real wages are sinking for many won’t keep threats like Trump at bay.

Why a Banking Crisis in China Seems Unavoidable

Another alarm about the danger that China’s rapid increase in private debt poses to its banks.

The Nobel Prize in Economics: How It Took a Hard Neoliberal Turn

How the so-called Nobel Prize in economics came to validate neoclassical thinking, even as it failed in Sweden.

Links 9/27/16

Law Firm for Private Equity Fund Managers Points Out That California “Transparency” Bill AB 2833 is a Big Fail

Yet more evidence that AB 2833, a supposed private equity reform bill sponsored by California Treasurer John Chiang, was a cynical ploy.

Oil And Gas Bankruptcies Set To Double This Year

Heavily indebted oil and gas companies have managed to hold off the day of reckoning, but analysts expect bankruptcies to spike.

Rethinking Macroeconomic Theory Before the Next Crisis

Only after the US subprime financial crisis began have the macroeconomic and monetary theories of mainstream economists been questioned.

Links 9/26/16

Deutsche Bank Unlikely to Get Much of a Break From the DoJ’s $14 Billion Mortgage Fine Target

Deutsche Bank isn’t likely to have much luck in trying to get a big break on a pending Department of Justice fine.

Links 9/25/16

Matthew Cunningham-Cook: A Disgusting, Child-Murdering Vote – On The $1.15 billion Saudi Arms Sale

The US continues to fund a senseless Saudi campaign of starvation against the Yemeni people

Class Action Lawsuit Against Wells Fargo Seeking $2.6 Billion for Wrongful Terminations Unlikely to Go Very Far

A case arguing that Wells Fargo fired and demoted employees who didn’t commit fraud to meet sales targets, does not deliver the goods.

Be Sure to Join Lambert’s Presidential Debate LiveBlog/Open Thread Tomorrow at 9 PM EDT

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