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...Author Archives: Yves Smith
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...Links 6/19/15
How Overgrown Financial Service Sectors Kill Growth
It’s now becoming cutting edge conventional wisdom that oversized financial service industries are bad for your economic health. Yet the media is only occasionally and timidly is willing to say that what is good for Jamie Dimon is bad for the rest of us.
Read more...Andrew Bacevich: Washington in Wonderland, Down the Iraq Rabbit Hole (Again)
The many false and self-defeating premises behind our continued intervention in Iraq.
Read more...Unresolved Allegations of Criminal Insider Trading Leaks from the Fed
A segment on yesterday’s Boom/Bust program discusses the still-open inspector general criminal investigation into leaks from the Fed.
Read more...What If There is No Deal on Greece?
The alarming part of the deadlock between Greece and its lenders is the lack of a plan on the creditor side to develop a Plan B, a sort of mirror image of the Greek government’s claim that its has bet everything on securing a favorable agreement.
Read more...Joe Firestone: Administration Tries to Resurrect Toxic Trade Deals After Big Defeat. Will It Succeed?
Well, that didn’t take too long. The wonks in the White House, the Republican Leadership and the “free trade” Democrats, have hatched another devious process for passing the Trade Promotion Authority bill, otherwise known as Fast Track.
Read more...Links 6/18/15
Are Locavores a Threat to Feeding the Planet Efficiently?
As local food has grown, so have the number of critics who claim that locavores have a dilemma. Are they right?
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