Another Day, Another Political Corruption Scandal In Spain’s ‘Mafia State’
Political corruption has become synonymous with political leadership in Spain.
Read more...Author Archives: Yves Smith
Links 4/6/14
Bill Black: The Kamikaze Economics of Forcing Austerity on the Ukraine
We all understand why Russia is waging economic war on the Ukraine, but why is Obama doing so?
Read more...Michael Hudson: R is for Rentier
Yves here. Two in a row! Enjoy latest entry in Michael Hudson’s Insider’s Economics Dictionary.
Read more...Correcting the Record on Another Misleading CalPERS Press Release
An alert reader sent me a link to a CalPERS press release, dated March 14, before the one we rebutted in the post CalPERS Tries Ineffective Mudslinging in Response to Our Ongoing Private Equity Investigation This earlier press release was not as consequential, so we decided to wait till the weekend to address it.
Read more...Links 4/5/14
Joe Firestone: Is the MSM Blackout on Inequality, Plutocracy, and Oligarchy Ending?
Yves here. Although I like this piece, I believe Joe is not cynical enough about MSNBC, which has become a messaging apparatus of the Democratic party. The reason that MSNBC is now talking about inequality is Obama is pushing for a minimum wage increase, so wealth and income disparity are no longer verboten topics
Read more...Michael Hudson: P is for Ponzi
Yves here. This is the latest entry in Michael Hudson’s Insider’s Economics Dictionary. Enjoy!
Read more...The Jobs Report For March 2014: After A Long Winter, The Economy Plays Some Catchup
Mr. Market was not happy with today’s jobs report. While it was not that bad, the ADP report earlier in the week had led investors to hope for better details.
Read more...Links 4/4/14
New York Times Column Strikes Back, Obliquely, at Our CalPERS Private Equity Data Suit
When I went to my inbox at the start of my day, one of the noteworthy e-mails in my inbox had the subject line: “NYT Column about You.”
Read more...How to Get Beyond Private Equity’s Parasite Economy
While we continue digging into the details that the private equity industry has worked hard to shroud in secrecy, it’s important not to lose sight of the real economy consequences of this well-orchestrated wealth transfer scheme. This post by Eric Garland focuses on a case study, Guitar Center.
Read more...IMF Imposing Even Tougher Austerity Conditions on New Loans
How the IMF has been devising even nastier versions of its austerity hairshirt in recent years.
Read more...Young Owners of Low-Budget GM Cars Weren’t Worth Saving
Writer libbyliberal describes how the Obama Administration’s National Highway Traffic Safety Administration worked with GM for years to cover up the automaker’s ignition system defect that would lead to sudden power system failure. That fault is estimated to have caused at least 13 deaths and over 30 crashes. It’s also a textbook case of crapification.
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