Author Archives: Yves Smith

Links 2/14/16

Satyajit Das: Age of Stagnation or Something Worse?

In The Age of Stagnation, author Satyajit Das has shifted from his usual wry detachment to a sense of foreboding.

Timing of Scalia’s Death a Gift to the Left

Antonin Scalia managed to steal some secure victories from the right by dying earlier today.

Links 2/13/16

Wolf Richter: Financial Chaos, Junk Bond Edition

Junk bonds are at 2008 bottom levels by some measures. But are they a bargain, or a falling safe?

Should Argentina Now Pay the Ransom to Its Hostage-Takers?

Argentina’s vultures keep pressing for higher and higher settlement terms, while giving the impression that at some point they would settle. What is the end game?

Links 2/12/16

Bill Black: The Inaugural Financial Fraud Lemons of the Week Award Goes to DOJ

The inaugural lemons of the week award goes to the DOJ for depicting its humiliating settlement with Morgan Stanley as a triumph.

Eurobanks: The Probable Point of Failure as Systemic Stress Rises

Why Eurobanks are the most likely fracture point if current economic stresses continue.

The Hidden Agenda Behind Saudi Arabia’s Market Share Strategy

Were the Saudis actually not targeting the US shale industry or did their original plans misfire?

Links 2/11/16