Author Archives: Yves Smith

Exit Strategy, Part One: ZIRP

Why exit from ZIRP has to precede exit from QE.

Will the TransPacific Partnership Agreement Go into the Deep Freeze?

The TransPacific Partnership is far from a done deal,. Delay in securing Congressional approval for Fast Track has high odds of throwing a fatal wrench in the overseas timing.

SEC Official Effectively Thanks Gretchen Morgenson and Mark Maremont for Embarrassing Private Equity into Cleaning Up a Tad

The SEC’s acting director of examinations gave a progress report a year after his predecessor exposed widespread misconduct in private equity. But is the agency goingfar enough?

Anatole Kaletsky has a cognent, forcefully argued new article at the Project Syndicate website, Why Syriza Will Blink, which independently comes to the conclusion we’ve reached, that the winning strategy for the creditors is to keep Greece in the sweatbox and use worsening economic and social conditions in Greece to crush domestic support for Syriza. Kaletsky goes further than we have, arguing that this is the course the Troika is taking, and the new coalition should have anticipated this as a likely strategy, since it’s the same one they used successfully against Cyprus two years ago.

Elizabeth Warren’s Trade Deal Fears Confirmed: Canada Uses NAFTA to Challenge Volcker Rule

Elizabeth Warren’s concerns about trade deals undermining financial regulations get an unexpected confirmation from Canada.

Links 5/14/15

Wolf Richter: Why the Heck Is the Trucking Business Slowing Down?

Trucking activity is a long-standing leading indicator of economic activity. It’s been flashing red in recent months.

Is the Push for Greater European Integration a Mistake?

The assumption among policy elites that more European integration will heal the union’s ills may be misguided.

Give the Democratic Trade Turncoats Hell Over Fast Track Vote

The real fight against Fast Track authorization will take place in the House. but the Senate sellouts should be made to feel the wrath of their constituents.

John Helmer: Polish President Komorowski’s Defeat is a Blow to the War with Russia Party,

First-round presidential election results show that the Poles have not been persuaded to vote for a candidate promising to go to war in the Ukraine or on the Russian border.