Author Archives: Yves Smith

Which Presidential Candidates are Most Friendly to the Energy Industry?

A rundown of how nice the various top presidential candidates are likely to be to Big Energy.

It’s Not Just TPP. Can a President Kill NAFTA? Al Gore Thought So. Hillary Clinton Too.

Given what Hillary and Gore have said about Nafta, it’s time to ask candidates much more pointed questions about Nafta and the TPP.

Stock Market Investors Abandon Private Equity, Expect No Profits Overall From Current Deals

Equity investors think private equity funds will show no profits on their current deals, which contrasts sharply with portfolio company valuations.

Positive Money in Action

Positive Money boosters have failed to consider (or perhaps have failed to publicize) is that it would necessitate draconian controls to prevent the creation of private credit.

Tom Engelhardt: The U.S. Military Bombs in the Twenty-First Century

The US military is not exceptional, save in sheer scale. It’s bad enough that the public is repeatedly told otherwise, but worse, the officialdom has fallen for its own PR.

Links 2/6/16

John Helmer: Strauss-Kahn Finds a New Way of Dropping His Pants

Strauss-Kahn demonstrates that even tarnished brand names can still be monetized.

Paul Craig Roberts on Michael Hudson’s Killing the Host

An introduction to Michael Hudson and his latest book.

Capital Bleeds from Emerging Asia

2015 was a terrible year for emerging markets, not just in terms of trade in goods and services, but also capital exit.

Links 2/5/16

CalPERS Takes on Risk Where Federal Government Fears to Tread: Provides Liquidity to a Derivatives Central Counterparty on the Cheap

CalPERS has engaged in one of the most bone-headed moves ever, the financial equivalent of picking up pennies before a steamroller.

Bill Black: How Many Lies Can the WSJ Pack into a Chart on Liar’s Loans?

Bill Black is not happy about the revisionist history on liar’s loans. And separately, this piece is a useful exercise in the critical reading of narratives.