Author Archives: Yves Smith

Explaining Why Federal Deficits Are Needed

Why you should expect and applaud federal deficits.

Bill Black: Lenders’ Lies about Liar’s Loans and “Rigorous Underwriting”

Believe it or not, liar’s loans may be back.

Links 2/3/16

Clinton Campaign Goes on Tilt as a Result of Dead Heat With Sanders in Iowa

The Clinton campaign is on the back foot. And it is a spectacle to behold.

The Middle East as America’s New Vietnam

There are obvious similarities between the US misadventures in the Middle East and our failed intervention in Vietnam. Yet the comparison is seldom made.

Is the Saudi Market Share Strategy Backfiring?

The Saudis appear to have bitten off more than they can chew.

Why the Neoclassical Story About German Wage “Moderation” Causing the Eurozone Crisis is Wrong

Focusing on German wage “moderation,” as in restriction, leads to a neat, plausible, and wrong tale of what caused the Eurozone crisis.

Links 2/2/16

Grexit Risk May Be Back Sooner Than You Think

Why Grexit is likely to be back on the table by summer.

CalPERS, CalSTRS Board Member Betty Yee Asks the SEC to Rescue Public Pension Funds From Themselves

California State Controller Betty Yee makes some underwhelming private equity reform proposals.

The Greenhouse 100

A ranking of the top greenhouse gas producers in the US.

Central Counterparties: The New Locus of Systemic Risk?

Central counterparties, also known as central clearinghouses, were supposed to reduce systemic risk. That story is not playing out according to its script.

Money and Banking: How the Fed Controlled Interest Rates Before and After the Crisis

How does the Fed control interest rates? A primer.

Links 1/31/16

Gaius Publius: A Non-Neoliberal Woman President Is Not One of the Choices

Hillary as a neoliberal is not your friend….unless you are a member of the 1% or on their meal ticket.