15 Ways Bill Clinton’s White House Failed America and the World
How Bill Clinton hurt the American middle class and US interests abroad
Read more...Author Archives: Yves Smith
Bill Black: A Harvard Don is Enraged that Pope Francis is “Opposed to the World Economic Order”
An economics professor rails against Pope Francis for daring to point out that we don’t live in the best of all possible worlds.
Read more...Short Greece Proposal Update: Greece Folds
More details on the Greece proposal to its creditors.
Read more...TPP: Will Voters Re-elect Laughing Stocks to the Senate?
Fast Track authority, whose passage is tantamount to passing the TPP, the TTIP, and TISA, goes back to the Senate. Please call your Senators ASAP, particularly Patty Murray (D-WA), Michael Bennet (D-CO), and Ron Wyden (D-OR) .
Read more...Links 6/22/15
The Revival of Cities and the Urban Land Premium
The popularity of certain cities is explained by their attractiveness for innovative enterprises and high-educated top talent. Is this a durable trend?
Read more...Tom Engelhardt: Armed Violence in the Homeland
If you worry about safety, stop fretting about terrorists and focus on the nasty intersection of rising social stress and widespread gun ownership.
Read more...Links 6/21/15
Greek Government Preparing Plans to Cross Red Lines to Avert Default
Greek government officials are preparing plans that would cross Syriza’s famed red lines in order to avert a default. Will Tsipras capitulate?
Read more...A New Bank Boycott Movement Starting?
A California county recognizes that the flip slide of banks being Too Big to Fail is that they are also Too Crooked to Trust.
Read more...Links 6/20/15
Wave of Defaults, Bankruptcies Spooks Bond Investors
Investors are exiting junk bond funds as bankruptcies rise despite the “recovery” allegedly picking up steam.
Read more...The Russian Pipeline Waltz
An analysis of possible Russian pipelines in Europe as strategic bargaining chips.
Read more...Banks are Not Intermediaries of Loanable Funds – and Why This Matters
Problems in the banking sector played a seriously damaging role in the Great Recession. In fact, they continue to. Macroeconomic models failed to explain the interaction between banks and the macro economy. The problem lies with thinking that banks create loans out of existing resources. Instead, they create new money in the form of loans. The traditional model greatly understates bank and macroeconomic risk.
Read more...At Emergency Summit, Creditors Plan to Make Greece an Offer It Can’t Refuse
A Eurogroup meeting ended if anything with Greece and its creditors even more alienated from each other.
Read more...