The UK continues to flail about as the Brexit clock keeps ticking.
Tuesday, June 10, 2025
CalPERS Admits Its New Private Equity Funds Will Dilute Returns, Seeks to Change Benchmark to Hide That; Presents Other Questionable Claims as Top Investors Underperform Due to “Alternative Investments”
Awfully late in the game, CalPERS finally tries to ‘splain its private equity plans. The giant fund only digs its hole deeper.
“You’re Worth $1 Trillion. Why Do You Need Our $3 Billion?” Angry New Yorkers Confront Amazon Execs at City Council Meeting
Amazon has said its new headquarters in New York will create 25,000 jobs for residents—a claim one protester derided as “smoke and mirrors”
Our New York Magazine Article: “‘Alpha Wolves in the Henhouse’: California’s Multibillion-Dollar Private-Equity Boondoggle”
Putting CalPERS under the hot lights for its questionable private equity plans.
2:00PM Water Cooler 12/13/2018
Today’s Water Cooler: Aluminum tariffs good for economy, TWO, Sanders on Jamie Dimon, Julian Castro, Pelosi, RCV in Maine, jobless claims, imports and exports, oil, intersectionality and class, Walmart rant, student loans, warehouse code of conduct, anti-labor Jones Day, cash, Eric the fish
Why It’s So Hard for Most Countries to be Economically Independent from the West
Western countries insist both on “free trade” with poor countries and farm subsidies for themselves.
Brexit: Endgame
As the Brexit clock is running down, so too are the available plays.
JJ Jelincic: CalPERS’ New Private Equity Model – What’s the Payoff?
CalPERS claims for its private equity “new business model” don’t add up. That suggests there are other motives.
Toxic Philanthropy? The Spirit of Giving While Taking
Why to be leery of philanthropy, particularly when practiced by squillionaires.
2:00PM Water Cooler 12/12/2018
Today’s Water Cooler: Lighthizer on NAFTA, Biden trial balloons, Pelosi v. Trump v. Schumer, NC-09 election fraud, the Lochnerized First Amendment, consumer prices, business inflation expectations, real estate, Bitcoin, Tesla, corporate planning and climate, @Jack meditates, Fortnite
Do Climate Policies ‘Kill jobs’? An Economist on Why They Don’t Cause Massive Unemployment
Sadly, an upbeat take on what “green” policies might means for jobs greatly understates the depth of economic restructuring needed to reduce the pace of climate change.
Yellow Fever in France
Almost everyone agrees on the analysis of what caused the yellow jacket movement: the growth of inequalities, the marginalization of certain regions and social categories, austerity and neoliberal politics. Then accounts diverge.
Wolf Richter: “Severe Collapse” of Home Prices Might Trigger a “Financial-Institution Crisis” in Australia: OECD Frets about the Banks
Australia looks to be on the verge of a nasty unwind of its housing bubble. A plunge would damage not only its banks but also retirement funds, since banks play an outsized role in the Australian stock market.
