The Decline in Market Liquidity
While the Fed isn’t worried about the fall in market liquidity, experts argue that if investors make abrupt changes in their portfolios, the lack of liquidity could produce a crisis.
Read more...Author Archives: Yves Smith
Links 8/11/15
Greece Says It Has Reached a Deal with Creditors; New Research Says Germany Comes Out Ahead from Lending to Greece Even with 100% Default
Greece and its creditors have reached agreement on key terms for a so-called “third bailout”
Read more...Clinical Trial Transparency Effort Encounters Deafening Silence in US Launch; Agnotology or Anechoic Effect?
A successful initiative in the UK to obtain more registration and publication of clinical trial data has had its US launch utterly ignored , not simply the mainstream media but also the logical suspects in the medical trade press and scholarly journals..
Read more...Frack Now, Pay Later: A New Era In U.S. Oil?
Oilfield services providers like Halliburton and Schlumberger are so desperate to keep the fracking party going that they are extending credit to already-levered frackers.
Read more...Leading Pension Consultant PCA Shills for Private Equity Firms in CalPERS/CalSTRS Carry Fee Row
Pension consulting firm PCA tells some real howlers in trying to defend the failure of public pension funds like CalPERS to report the “carry fees” they pay.
Read more...Wolf Richter: China’s Hard Landing Suddenly Gets a Lot Rougher
Despite the 7% GDP growth published and hotly defended by the Chinese government, it is increasingly clear that the country is beset with a host of immense problems, after a debt-fueled binge of overbuilding and over-stimulating.
Read more...Links 8/8/15
David Sirota: Hillary Clinton Is Running Away from Her “Free Trade” Record
Yet again, HIllary Clinton tries to distance herself from her “sell out the middle class” policies, this time on “free trade”.
Read more...Bill Black: Republican Candidates Agree that the System is Rigged for the Rich
The Republican candidates for President all made shameless appeals for even more plutocracy, in particular preferential treatment for the rich.
Read more...Grexit Stumbling Block: International Courts Likely to Rule Against Forced Contract Redenomination
If Greece decides to exit the euro and abrogate contracts, it is not likely to fare well in the tidal wave of lawsuits and arbitration cases that would ensue.
Read more...Links 8/7/15
Dutch Pension Fund Escalates War Against Private Equity Secrecy, Won’t Invest in Funds that Fail to Disclose All Fees and Costs
By challenging the private equity secrecy and fee-gouging regimes, a major Dutch pension fund shows how craven its US counterparts are.
Read more...Media Hypes Praluent, the Next Expensive “Blockbuster” Not Yet Shown to Benefit Patients
Another example of the corruption of science: the press falls all over itself hyping Praluent, a new cholesterol-lowering drug with remarkably inconclusive clinical trial data behind it. As Roy Poses points out, “The clinical benefit of the drug was not evident in this trial.”
Read more...Entering the Nuclear Age, Body by Body The Nagasaki Experience
I felt I had not adequately commemorated the 70th anniversary of the bombing of Hiroshima and Nagasaki, and am putting up this offering to make up for that lapse.
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