Author Archives: Yves Smith

Global Warming: Halfway to a Mass Extinction Event?

By Gaius Pubius, a professional writer living on the West Coast. Follow him on Twitter @Gaius_Publius. Cross posted from AmericaBlog

We know that global warming will cause some crises, since the little warming we’ve experienced so far (0.8°C or so) is already a problem. But according to the Intergovernmental Panel on Climate Change (IPCC), the leading scientific organization studying this phenomenon, this is only the beginning. What’s the temperature we should stop at if we don’t want to cause another world-class extinction?

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Mel Watt, Nominee to Head FHFA, Opposes Administration by Voting to Deregulate Derivatives

Good progressives like MoveOn, New Bottom Line, the Alliance of Californians for Community Empowerment, AFR, Elizabeth Warren, and Richard Trumka, head of the AFL-CIO have all fallen in line with Obama’s nomination of Mel Watt, Representative from Bank of America North Carolina.

It might help if they looked harder at Watt. If they were honest about it, there’s not much to like.

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Launching Naked Capitalism T-Shirts and Goodies!

Readers have asked from time to time for us to provide T-shirts so you can let friends and colleagues know you are a member of the Naked Capitalism community.

Since we are chronically in “cobbler’s children go unshod” mode on almost everything admin related, it has taken an embarrassingly long time to get around to your requests. But hopefully the caliber and range of offerings will make up for the delay!

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The Limits of Governing Budgetary Policies by Rules

By Daniela Schwarzer, who heads the research unit European Integration at the German Institute for International and Security Affairs, Stiftung Wissenschaft und Politik (SWP) in Berlin. Cross posted from Triple Crisis

The European squabble over budgetary austerity reached a new peak a good week ago when a document drafted by leading representatives of the French Socialist Party, which reportedly had been seen by Elysée officials close to President Hollande, personally attacked German Chancellor Angela Merkel. Less mediatized, but more telling about the nature of the governance problems facing the euro area, are the statements made by Finance Minister Pierre Moscovici this weekend.

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Wall Street Hiring More Ex-Government Prostitutes Officials to Assure it Gets its Way

The infamous James Carville quote, “Drag a hundred-dollar bill through a trailer park, you never know what you’ll find,” seems more applicable to official Washington than the much-maligned Paula Jones.

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Wolf Richter: When Flight Safety Gets Outsourced To China

Aircraft maintenance was a highly paid blue-collar job that required education, training, manual skills, and brains. It was one of the perfect American middle-class jobs with generous healthcare, retirement, and vacation benefits; and free flights! They were working for icons like Delta, American Airlines, Continental, TWA, or Pan Am. Icons indeed!

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