Global Money: A Work in Progress
Bagehot outlined some of the requirements for global money. Are we closer to a solution?
Read more...Author Archives: Yves Smith
More Collateral Damage From Negative Interest Rates (Updated and Corrected)
Spain demonstrates some of the costs and dislocations created by negative interest rate policies.
Read more...Why a Leave Vote May Not Result in a Brexit
The ruling classes in the UK will be highly motivated to try to get the Brexit genie back in the bottle.
Read more...Mortgage Document Fabrication is Alive and Well…
Sadly, mortgage servicers are still very much in the document fabrication and forgery business.
Read more...Star Wars: The Fed Awakens
A short take on the Fed’s recent antics.
Read more...Links 6/11/16
Bond Market Flight to Safety as Investors Sweat Over Brexit Risk, Wobbly US Economy, Negative Rates
Investors got a big dose of bad news about the economy and geopolitics and reacted accordingly.
Read more...The Clinton Campaign Continues to Help Trump Ensure That Policy Won’t Matter in This Election
Is the Clinton campaign playing straight into Trump’s lead?
Read more...Apologies for Site Outages – We Were Under a DDoS Attack
We were the target of a DDoS attack on Thursday and Friday.
Read more...Want to Kill Your Economy? Have MBA Programs Churn Out Takers Not Makers.
How MBAs have become negative value added to everyone but themselves.
Read more...Links 6/10/16
“Finance is Just Another Industry”
A debunkng of the claim that finance is special and should be treated accordingly.
Read more...TSA as Example of Privatization Playbook: Make an Agency Perform Badly By Underfunding It….
A case study of how privatization vultures weaken public agencies so as to turn them into their prey.
Read more...Vancouver Mayor Mulls Empty Homes Tax
Vancouver ponders a long-overdue measure to target residential real estate warehousing.
Read more...Hensarling’s “Market Regulation” Replacement to Dodd Frank Proves He Does Not Understand Banking
Yves here. Steve Waldman wrote a definitive post in 2009, Capital can’t be measured, on a core issue that Black discusses here. A key section: So, for large complex financials, capital cannot be measured precisely enough to distinguish conservatively solvent from insolvent banks, and capital positions are always optimistically padded. Given these facts, and I […]
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