Bill Clinton, Paid to Speak to Biotech Conference, Extolled $1000 Pill to Prevent “Liver Rot,” Despite Lack of Evidence that It Does
What won’t the Clintons do if the price tag is high enough? Now Bill is playing drug detailman.
Read more...Author Archives: Yves Smith
Oil Faces Steep Downside Risk From China’s Stock Market
A drop in demand from China was one of the big causes of the oil price plunge in 2008. How do stock prices play into current demand weakness?
Read more...Tsipras Accepts Most Creditor Terms as Merkel Insists on Referendum
Post-bailout expiration dynamics are likely to produce even worse outcomes for Greece than it had on offer from the creditors last month.
Read more...Links 7/1/15
Michael Klare: Russia v. China – Washington Debates Who Should Be Public Enemy Number One
Yves here. It’s mind-boggling to think that the US is confronting China as a hostile power. We are deeply integrated with them economically, so it’s hard to see how this makes any sense. And it reveals classic American short-sightedness, since by letting them become our preferred vendor (as in exporting US jobs to them), we […]
Read more...Affordable Housing Crisis Grows Across the Country as Apartment Rents Skyrocket
An update on where and how tenants are being squeezed by rising rents versus stagnant to low wage growth.
Read more...Greece Asks for Last Minute Deal Before Bailout Expires
So much for that referendum! Just kidding!
Read more...Will the US Keep Winning Indefinitely? With ISDS Trade Panels, That Is
The threat to regulation, democracy, and the rule of law posed by investor-state dispute settlement is very real.
Read more...Links 6/30/15
SEC Hits Private Equity Kingpin KKR for $29 Million, Including $10 Million in Fines
The SEC has (finally) taken action against a major private equity firm, KKR, slapping it with close to $30 million in charges.
Read more...My Big Fat Greek Bank Black Hole: No Deposit Insurance
It’s hard to find an official who is comporting himself very well in the wake of the Tsipras surprise announcement of a referendum on July 5 for a then-defunct bailout offer.
Read more...The Standard Definition of Money is in Error
Yves here. This post is elegant in the way it challenges the standard (sloppy) definitions of money. Even if you don’t agree, it will force you to think and articulate why you don’t agree (hopefully in a rigorous manner).
Read more...Top Private Equity Reporter: CalPERS is Either Lying or Has “a Massive Breakdown in Financial Controls”
CalPERS is suffering a richly deserved hit to its reputation by virtue being too chummy with private equity general partners and thus neglecting its duties as a fiduciary.
Read more...Consent of the Governed, Tsipras Style (Updated)
Tsipras has already taken the decision to miss the €1.6 billion IMF payment due June 30 and the €3.5 billion ECB payment that falls on July 20, while falsely telling Greek citizens that they have a say in this momentous choice.
Read more...BBC: ECB to Stop Emergency Support of Greek Banks on Monday; Bank Holiday Likely
The ECB has decided to lower the boom on Greece.
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