Author Archives: Yves Smith

Perry Mehrling: The Fuss about Market Liquidity

I am SO glad to see this post appear. It’s annoying to see investors and banksters whine that they want more liquidity, as if that were a right.

Links 8/14/15

You Don’t Need to Hire Rapacious Private Equity Firms to Get Their Returns

A new paper by Brian Chingono and Dan Rasmussen shows how to beat the average private equity fund’s return by a solid margin.

Don Quijones: Spain Hit by Trade Suits, a Bitter Foretaste of TTIP

Spain has been hit by 19 trade suits over renewable energy subsidies alone. More would come if the TTIP become law.

Greek Debt Sustainability: The Devil is in the Tails

The debate over Greek debt sustainability is muddied by the fact that different analysts use different definitions. But once you use realistic assumptions, as in “tails risks” are actually pretty likely, Greek debt is obviously not “sustainable”.

Links 8/13/15

Will the Germans Derail the Tentative Greek Third Bailout?

Human dynamics, which over time played right into the Germans’ and other hardliners’ hands in the earlier chapters of the Greek bailout talks, may now be working against them.

Our Bloomberg OpEd on Public Pensions’ Failure to Stand Up to Private Equity Stealing and Other Abuses

Bloomberg runs our op ed on how private equity investors have been so feckless that they deserve to lose their accredited investor status.

Turbulence and Stability in Financial Markets: China in Recent Times

China is a case study of how liberalization of financial markets has never contributed to stability.

Links 8/12/15

Australian Trade Minister: TPP “Trade” Deal Unlikely

When a Liberal government in Australia won’t back Obama’s “deal is near” party line on the TPP, you know it’s on the verge of being officially dead.

Saudi Oil Strategy: Brilliant Or Suicide?

Does it make sense to look at the Saudi strategy within the oil industry alone, or do analysts need to start factoring in deflationary economic policies around the world?