Debunking “The Big Short”: How Michael Lewis Turned the Real Villains of the Crisis into Heroes
How Michael Lewis’ The Big Short, whether for profit or by accident, has denied the public the truth about what really causes the crisis.
Read more...Author Archives: Yves Smith
Ilargi: CON21
To halt the demise of the planet, you can’t rely on the same people who cause it.
Read more...How Economics and Race Drive America’s Great Divide
On how race plays into the operation of a “dual economy”.
Read more...Links 12/11/15
Our Bloomberg Op-Ed on CalPERS’ Plan to Get Rid of Private Equity Risk by Ignoring It
CalPERS’ plan to eliminate the measurement of private equity risk, a seismic change, is a case study in how staff manipulates the board to its own advantage.
Read more...How Far Can The Syria Conflict Spiral Out Of Control?
An astute, high level reading of Russia and Turkey’s jousting.
Read more...US Life Expectancy Flat for Third Year
The fact that life expectancy in the US is no longer rising, in a time of economic growth, is yet another sign of underlying societal decay.
Read more...Matthew Cunningham-Cook: How the Christie Stole New Jersey Local Government Workers’ COLA
A vignette of how pensioners are being shafted by being denied their COLA, or cost of living increase. In New Jersey, this looks to be a transfer to Wall Street.
Read more...Links 12/10/15
Demise of the US Middle Class Now Official
A study by Pew gives a new look at the fall of the middle class and how the accompanying rise in income stratification is playing out.
Read more...San Diego Union-Tribune Editorial Attacks CalPERS Over Half-Baked Plan to Lower Return Targets
CalPERS comes under fire on a new front: its fight with Governor Jerry Brown over how quickly to lower return targets to realistic levels.
Read more...Gauis Publius: Making the US a Petro-State – White House Keeps Alive GOP Hopes for Lifting the Oil Export Ban
Why lifting the oil export ban is “appeasement” of Big Oil and needs to be stopped.
Read more...Timothy Geithner Corrupting Youth, Um, Telling His Version of the Crisis
In case living through the crisis and its aftermath wasn’t bad enough, you can hear Timothy Geithner’s version of events…at your expense.
Read more...The Puzzle of Technical Dis-Employment and Productivity Slowdown
How can recent technical change could both be a major source of dis-employment and not be associated with productivity improvement?
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