Are The IMF and the EU at Loggerheads Over Greece?
An overview of the history of the economic dispute between the IMF and the Eurozone creditors over Greece, and what that means for the ongoing negotiations.
Read more...Author Archives: Yves Smith
Thomas Palley: Fraternity of Failure – The Alternative, as in Hillary Clinton, Version
Hillary Clinton does not want to talk about past economic controversies.
Read more...More on the Myth of Outsourcing’s Efficiency
Why outsourcing winds up producing cost creep over time.
Read more...Links 5/20/15
IMF Paper Finds That Too Much Finance is Bad for Growth
A new IMF paper strikes another blow against the idea that Big Finance is good for you.
Read more...Gaius Publius: If Fast Track Passes, Anything Attached to a “Trade” Treaty Will Pass
How the Administration’s Fast Track authority would transfer more power to the President by limiting Congressional authority on “trade” bills.
Read more...Goldman Sachs Predicting $45 Oil By October
Conventional wisdom for some time has been that weakness in oil prices would be short-lived, with prices rallying in the second half (and arguably, the current rally representing the financial markets correctly anticipating a much improved supply/demand picture soon).
Goldman breaks with this consensus, arguing that prices will fall again as drilling will pick up again quickly. Their argument is similar to that of John Dizard, who at the outset of the oil price swoon, said it would not be over until the US shale players ran out of financial rope and money for oil plays became more scarce and costly.
Read more...John Helmer: How Angela Merkel Has Been Abandoned By John Kerry, Victoria Nuland, And Vladimir Putin
How Merkel was sidelined in negotiations over Ukraine.
Read more...Links 5/19/15
Michael Perelman: The Dysfunctionality of Slavery and Neoliberalism
Slavery and periods of low pay to labor are correlated with low innovation .
Read more...Satyajit Das: The Power of Money
A new series of books on money gives an intriguing historical overview and winds up highlighting money as a implement of power relations.
Read more...European Commission Tables Proposal on Greece to Break Logjam [Updated: EC Issues Denial]
More fog of reporting….did the European Commission lodge a proposal to break the Greek negotiating logjam? If so, it’s backpedaling at high speed.
Read more...Greece Cornered as IMF and ECB Refuse to Relent
A flurry of stories this weekend confirms that Greece and its creditors remain hopelessly at odds. The inertial path is to a Greek default
Read more...Bill Black: Krugman is Half Right
Paul Krugman’s latest column fingers some valid targets but lets way too many other equally deserving ones off.
Read more...
