Wednesday, June 20, 2018

Italy Holds A Mirror to a Broken Europe

The election of a right-wing, populist government in Italy exposes the economic and democratic shortcomings of the European project and its nationalist rivals.

Leaked Memo by Larry Sonsini Shows Sonsini and CalPERS Violating Fiduciary Duty With Proposed Private Equity Outsourcing Scheme

A leaked memo written for CalPERS by Silicon Valley attorney Larry Sonsisi not only reflects poorly on him and CalPERS, but also validates concerns about corruption.

Links 6/17/18

Don Quijones: Consumers Stubbornly Cling to Cash, after Multiple IT Fiascos & Payment Systems Outages

More consumer pushback in the war on cash: An industry dogged by non-believers who fret about privacy and fraud.

Links 6/16/18

How Purdue Pharma Hooked America on a Deadly Drug

Purdue Pharma’s slogan for OxyContin was: “The One to Start With and the One to Stay With.” As reader Brian C added, “Stay with alright….’Till death do us part.'”

Gaius Publius: Is Anti-War Fever Building in the U.S.?

Will the American public make politicians address the cost, immorality, and futility of our war machine?

2:00PM Water Cooler 6/15/2018

Today’s Water Cooler: Trade war with China?, mid-terms and women’s turnout, ranked choice voting, the border, industrial production, manufacturing, CMS ratings, risk corridors, the Incas, genderless pronouns

Cryptocurrencies Are Lousy Investments

A skeptical look at the prospects for cryptocurrencies.

Links 6/15/18

Merkel’s Government Wobbles Over Immigrant Row as Italy Threatens Canada Trade Deal

Merkel had a bad day and things don’t seem likely to improve any time soon.

Why Are There So Many Unsheltered Homeless People in California?

Try guessing why San Francisco has encampments of homeless people….

Some Bankruptcy Judges Finding Ways to Give Desperate Student Borrowers Relief

Some bankruptcy judges recognize that the typical application of the “undue hardship” for discharging student debt is too stringent and are finding wriggle room.

2:00PM Water Cooler 6/14/2018

Today’s Water Cooler: Canada and trade, Sanders at Democrat cattle call, Poor People’s Campaign, Planned Parenthood, retail sales bump, Boring Company, unemployment insurance, moderation

Wolf Richter: Riskiest Junk Bonds Completely Blow Off the Fed, Face “Sudden” Reckoning

Normally risky credits like junk bonds are the first to react when the Fed starts tightening. But we are not in normal times.