Author Archives: Yves Smith

Links 2/28/16

Donald Trump’s Truly Absurd, Word Salad, Gibberish Health Care Policy

Trump’s health care plan, to the extent it can even be called a plan, makes no sense.

Offshore Ireland Implicated in Bank Collapse, Once Again

More on how Ireland’s banks walked on the wild side, to the detriment of its citizens.

Links 2/27/16

James Galbraith Describes Major Forecast Failure in Model Used by Romers to Attack Friedman on Sanders Plan

James Galbraith examines the used forecast by Christine Romer and David Romer to attack Gerald Friedman’s favorable review of Sanders’ plan. He’d already shellacked the methodology in a 2014 book.

Negative Rates, Negative Reactions

A new survey suggests that negative rates will be counterproductive. Consumers will not spend more, as central banks wish, but will hoard.

Wolf Richter: Is This the Beginning of the Next Recession?

A sustained contraction in manufacturing historically has been a harbinger of recession. Be warned.

Links 2/26/16

Germany Lays the Foundations for a New Eurozone Debt/Banking Crisis

It’s astonishing to see Germany take active steps to wreck the Eurozone.

China’s Vulnerable External Balance Sheet

A look at the risks of China’s external debt.

Introducing Kuznets Waves: How Income Inequality Waxes and Wanes Over the Very Long Run

Why income inequality is likely to remain high.

Links 2/25/16