Popular Acceptance of Inequality Due to Brute Luck
People don’t mind inequality due to “brute luck”…but is one man’s brute luck another man’s rigged system?
Read more...Author Archives: Yves Smith
Report: New Data Disproves US Corporations’ False Narrative on Taxes
A new study on corporate tax havens shows how multinational corporations avoiding U.S. taxes represents a transfer to them from workers.
Read more...Income Inequality in a Globalising World
Absolute inequality around the world has increased, challenging the purported benefit of globalization.
Read more...Backlash Against Trade Deals: The End of U.S.-Led Economic Globalisation?
Why the backlash against the overreach of US trade deals, as embodied by the TPP and TTIP, is well warranted.
Read more...Links 9/22/16
The Private Debt Crisis
Why private debt is so dangerous, and why that risk looms large, particularly in China.
Read more...The Rise and Rise of the Bubble Managers
It’s becoming even more obvious that Fed policy is focused on keeping the bubble inflated over real economy concerns.
Read more...Wells Fargo Fake Accounts Hidden by Fake Whistleblowing: Former Employees, Including HR Officials, Allege Systematic Retaliation
As short seller David Einhorn says, “No matter how bad you think it is, it’s worse.” That’s proving true at Wells Fargo as former employees allege systematic whistleblower retaliation.
Read more...Links 9/21/16
Negative Effects of Immigration on the Economy
Working through explanations as to why US immigration has been negatively correlated with growth.
Read more...Academic Penury: Adjunct Faculty as the New Precariat
The perilous status of adjuncts, who serve as contingent faculty.
Read more...Wells Fargo CEO’s Teflon Don Act Backfires at Senate Hearing; “I Take Full Responsibility” Means Anything But
Wells Fargo CEO John Stumpf’s days are numbered, as they should be based on his inability even to fake contrition in Senate hearings.
Read more...Theresa May Outs Herself as Wall Street’s Poodle in Brexit Talks
It would be better if the latest Brexit news were a farce….
Read more...Ilargi: China Relies On Property Bubbles To Prop Up GDP
More concerned tea-leaf reading in the wake of a BIS report that sounded alarms about China’s debt growth.
Read more...Michael Hudson: Celebrating the One Percent – Is Inequality Really Good for the Economy?
The backlash has begun. Prominent economists are upping their game in trying to depict the gains of the One Percent as virtuous and beneficial.
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