Author Archives: Yves Smith

A Foreign Supply Chain Threat Opening on Walmart Labor Protests?

It’s too early to tell how effective the Black Friday against Walmart’s low pay and abusive working conditions were. The early reports from management and the organizers are wildly at odds with each other.

However, a new front may open up in the Walmart disputes: that of disruption to its international shipments.

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Obama to Deploy Campaign Apparatus to Persuade Americans to Look Forward to More and Better Catfood

Our Fearless Great Betrayer is about to repurpose his campaign sales machine to persuasion of the American public of the necessity of making do with less to appease the Bond Gods. The bizarre part, as many have noted, is the Bond Gods actually don’t seem to want the human sacrifice involved (old people dying faster) but their Wall Street soothsayers would have you believe otherwise.

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Yes, Virginia, the IRS Does Not Treat the Connected Like the Rest of Us (REMIC Edition)

We’ve written at some length about the failure of the IRS to go after what look like slam-dunk violations of the rules governing the tax treatment of mortgage-backed securities. Apparently the noise has been made about the failure to pursue REMIC violations, the latest by two law professors in a journal article, has roused the IRS from its official somnolence.

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Why Greece is a Model of Economic Mismanagement

By Delusional Economics, who is determined to cleanse the daily flow of vested interests propaganda to produce a balanced counterpoint. Cross posted from MacroBusiness.

Today I thought it was timely to have another look at the Greek economy from a sectoral balance perspective which will hopefully provide some clarity on exactly what we are seeing in Greece, but just as importantly also provide some broader context to the likely outcomes for other Eurozone periphery nations with similar economic dynamics.

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The Giant Lie Trotted Out by Fiscal Conservatives Trying to Shred Social Security

By Lynn Parramore, a contributing editor at Alternet. Cross posted from Alternet

Trying to convince the public to cut America’s best-loved and most successful program requires a lot of creativity and persistence.

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Down to the Wire, Last Chance for 2012 Fundraiser!

We are two and a half hours away from the end of our fundraiser. In just the last two hours, we’ve gotten quite a few generous donations, as in several $200, $150, and $100 contributions,) as well as a lot of $10 and $25 donations. It’s particularly gratifying to get support from readers we know from comments as well as fellow writers/bloggers (for instance, Susie Madrak gave in the last two hours).

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