Monthly Archives: May 2016

May 31, 2016

• CalPERS Uses Unqualified “Expert” to Validate Its London-Whale-Style Deficient Risk Management
  by Yves Smith 11:51 pm

• 2:00PM Water Cooler 5/31/2016
  by Lambert Strether 2:00 pm

• Tuition-Free or Debt-Free College: Elizabeth Warren, Hillary Clinton, and Bernie Sanders Put Band-Aids on the Cancer
  by Lambert Strether 12:43 pm

• Links 5/31/16
  by Yves Smith 6:55 am

• Refinancing is Dead: A Generation of Hard Times Will Continue Until Secular Real Wages Improve
  by Yves Smith 6:30 am

• Is America Committing Slow-Motion Suicide? A Look at the Decline of CUNY
  by Yves Smith 2:58 am

• Oil Speculators No Longer Confident In Price Crash
  by Yves Smith 12:13 am

May 30, 2016

• MH17 Coroner Michael Barnes, Australian Lawyers in Head-On Crash With the Rules of Evidence
  by Yves Smith 3:30 pm

• Parents, Debate Is the Right Competitive Sport for Your Child!
  by Lambert Strether 12:25 pm

• Links 5/30/16
  by Lambert Strether 6:55 am

• Money and Banking – FAQs about Monetary Systems
  by Lambert Strether 12:55 am

May 29, 2016

• Links 5/29/16
  by Lambert Strether 6:55 am

• How Bank Networks Amplify Financial Crises: Evidence from the Great Depression
  by Lambert Strether 3:55 am

• Are You Ready for Some (Political) Football? The NFL, Concussion Research, the NIH, and the Revolving Door
  by Lambert Strether 1:25 am

May 28, 2016

• Links 5/28/16
  by Yves Smith 6:55 am

• More Backlash from London’s Empty Towers
  by Yves Smith 1:54 am

• Gaius Publius: “Networks are Colluding” to Declare Clinton the Overall Winner Before California Polls Close
  by Yves Smith 12:52 am

May 27, 2016

• 2:00PM Water Cooler 5/27/2016
  by Lambert Strether 2:00 pm

• New IMF Paper Challenges Neoliberal Orthodoxy
  by Yves Smith 9:55 am

• Links 5/27/16
  by Yves Smith 6:55 am

• Wall Street Journal Tallies DoJ and SEC’s Pathetic Record in Tackling Wall Street Crime
  by Yves Smith 5:18 am

• New Zealand: the World’s Tiniest Stock Exchange, ‘a Big Ponzi Scheme’, and Other Crazy Tales From John Key’s Financial Services Hub
  by Richard Smith 3:05 am

• Scenes From Paris Protests (and an Update from Alison)
  by Yves Smith 1:07 am

• Clinton Chasing Votes With Fracking U-Turn
  by Yves Smith 12:37 am

May 26, 2016

• 2:00PM Water Cooler 5/26/2016
  by Lambert Strether 2:00 pm

• Philip Mirowski: This is Water, or Is It the Neoliberal Thought Collective?
  by Yves Smith 9:55 am

• Links 5/26/16
  by Yves Smith 6:55 am

• IMF Not Funding July Greece Deal, Still Wants Serious Debt Relief Before Committing New Dough
  by Yves Smith 5:55 am

• Another Day, Another Indication that the Clinton Campaign Remains Dangerously Clueless About What Will Matter Most in the General Election. Ho-hum.
  by Yves Smith 4:47 am

• Free Trade in Rhetoric, Not in Practice
  by Yves Smith 2:40 am

• Purdue Pharma’s OxyContin: Corporate Fraud With a Body Count
  by Yves Smith 1:28 am

May 25, 2016

• 2:00PM Water Cooler 5/25/2016
  by Lambert Strether 2:00 pm

• Americans Increasingly Angry With Corporate Desertions via Tax Inversions
  by Yves Smith 9:55 am

• Links 5/25/16
  by Yves Smith 6:55 am

• Where Did the Bernie Sanders Movement Come From? The Internet.
  by Yves Smith 6:50 am

• Unsealed Documents Reveal Former White House Officials Violated Fannie/Freddie Conservatorship Rules, Apparently to Advance Bank-Enriching “Reforms”
  by Yves Smith 6:00 am

• Reader Note on Strikes in France: “Pass the Popcorn”
  by Yves Smith 4:43 am

• The Pentagon’s Budgetary War on Accountability
  by Yves Smith 1:15 am

May 24, 2016

• 2:00PM Water Cooler 5/24/2016
  by Lambert Strether 2:00 pm

• Helicopter Money: The Illusion of a Free Lunch
  by Yves Smith 9:55 am

• Links 5/24/16
  by Yves Smith 6:55 am

• SEC Official Defends Weak, Selective Enforcement When Agency Records Show Private Equity Firms Thumb Nose at Agency
  by Yves Smith 6:50 am

• Neoliberalism’s Press Gangs: How Markets Raise Costs
  by Yves Smith 6:37 am

• The 7 Biggest Myths and Lies About Social Security
  by Yves Smith 3:57 am

May 23, 2016

• 2:00PM Water Cooler 5/23/2016
  by Lambert Strether 1:59 pm

• Destroying Medicare to Save ObamaCare: Hillary Clinton’s “Public Option” Plan
  by Lambert Strether 12:15 pm

• Links 5/23/16
  by Lambert Strether 6:55 am

• SEC Conference Features Former Official Calling for Fraudsters to be Protected from Career Harm
  by Yves Smith 6:05 am

• Inflation Targeting and Neoliberalism, Part 3
  by Yves Smith 2:20 am

• Welcome to the Great Australian Scab Grab
  by Lambert Strether 1:55 am

May 22, 2016

• Links 5/22/16
  by Yves Smith 6:55 am

• How the “Maximize Shareholder Value” Myth Weakens Companies and Economic Systems
  by Yves Smith 2:45 am

• Economics for the Rest of Us Explains NAIRU, Including Its Political Implications
  by Yves Smith 1:54 am

May 21, 2016

• Links 5/21/16
  by Yves Smith 6:55 am

• Why US Cities Are Segregated by Race: New Evidence on the Role of ‘White Flight’
  by Yves Smith 4:15 am

• How the Democratic Party Became Undemocratic: The History of the Superdelagates
  by Yves Smith 2:51 am

May 20, 2016

• 2:00PM Water Cooler 5/20/2016
  by Lambert Strether 2:00 pm

• Bogus Defenses of Tax-Dodging Corporate Inversions
  by Yves Smith 9:55 am

• Links 5/20/16
  by Yves Smith 6:55 am

• The New Abnormal: “Disequilibrium Flirting with Deflationary Depression”
  by Yves Smith 6:45 am

• Sanders and Class Struggle in the Democratic Party
  by Yves Smith 4:48 am

• Wolf Richter: Business Loan Delinquencies Spike to Lehman Moment Level
  by Yves Smith 4:01 am

May 19, 2016

• 2:00PM Water Cooler 5/19/2016
  by Lambert Strether 2:00 pm

• Quelle Surprise! US Big Business Prefers Clinton to Trump by 2:1 Margin
  by Yves Smith 9:55 am

• Links 5/19/16
  by Yves Smith 6:55 am

• Hard Landing Coming Soon? Chinese Officials Set Off Red Alert on Debt, Urge Serious Measure to Contain It
  by Yves Smith 6:54 am

• Mathew D. Rose: First German Politicians, Now German Media in Credibility Meltdown
  by Yves Smith 6:00 am

• Gerald Friedman: How the Dogmatic Despair of Mainstream Economists Brought You Donald Trump
  by Yves Smith 5:49 am

May 18, 2016

• 2:00PM Water Cooler 5/18/2016
  by Lambert Strether 2:00 pm

• CalPERS Invests in Toll Road Even Though Those Deals Consistently Lose Money
  by Yves Smith 9:55 am

• Links 5/18/16
  by Yves Smith 6:55 am

• Germany and IMF in Staredown Over Greek Debt Relief
  by Yves Smith 6:54 am

• Cameron Murray: Confused Thinking About Real Interest Rates Leads to Mistaken Belief that Lower Interest Rates Boost Investment
  by Yves Smith 6:53 am

• Hall of Shame: HUD Finally Forces Private Equity Buyers of Distressed Mortgages to Give Real Modifications After Years of Complaints Now That HUD Chief is on Clinton VP List
  by Yves Smith 3:00 am

May 17, 2016

• 2:00PM Water Cooler 5/17/2016
  by Lambert Strether 2:00 pm

• Bill Black: Mankiw’s Mythical Ten Commandments of Theoclassical Economics
  by Yves Smith 9:55 am

• Links 5/17/16
  by Yves Smith 6:58 am

• After Distancing Herself From Bill Clinton’s Economic Policies, Hillary Wants Him as Mr. Economic Fix It
  by Yves Smith 6:34 am

• Hedge Funds Want a Pony, Um, Permanent Capital, as More Investors Exit
  by Yves Smith 6:32 am

• The New York Times Bestirs Itself to Report on ObamaCare Problems Naked Capitalism Readers Have Known About for Years
  by Lambert Strether 2:55 am

May 16, 2016

• 2:00PM Water Cooler 5/16/2016
  by Lambert Strether 2:01 pm

• Bill Black: Greg Mankiw’s Unprincipled Economics Indoctrination
  by Yves Smith 9:55 am

• Links 5/16/16
  by Lambert Strether 6:55 am

• Hedge Fund Comeuppance: Firms Hunker Down, Start to Cut Fees as Investors Wise Up and Withdraw Money
  by Yves Smith 3:28 am

• Democratic Establishment’s Thuggish Power Grab at Nevada Convention
  by Yves Smith 1:44 am

• Ian Fraser: Just How Corrupt is The UK?
  by Richard Smith 1:01 am

May 15, 2016

• Preparing to Collapse in Place with Permaculture
  by Lambert Strether 11:45 am

• Links 5/15/16
  by Lambert Strether 6:55 am

• Money and Banking – Financial Crises
  by Lambert Strether 12:55 am

May 14, 2016

• Links 5/14/16
  by Yves Smith 6:55 am

• Wolf Richter: Which US Companies Stockpile the Most Profit “Overseas?” But Where the Heck is the Money?
  by Yves Smith 5:10 am

• Inflation Targeting and Neoliberalism, Part 2
  by Yves Smith 4:08 am

May 13, 2016

• 2:00PM Water Cooler 5/13/2016
  by Lambert Strether 2:00 pm

• A Global Marshall Plan for Joblessness?
  by Yves Smith 9:55 am

• Links 5/13/16
  by Yves Smith 6:55 am

• Trump Slams US Wars in the Middle East
  by Yves Smith 6:52 am

• New Study Blasts Private Equity Fee Abuses, SEC and IRS Enforcement Failures, Limited Partner Capture
  by Yves Smith 6:50 am

• Hoisted from Comments: “Obama’s Hiroshima Visit Is Shaping Up To Be a PR Disaster”
  by Yves Smith 1:44 am

May 12, 2016

• 2:00PM Water Cooler 5/12/2016
  by Lambert Strether 2:00 pm

• Tax-Dodging Corporate Inversions Accelerating
  by Yves Smith 9:55 am

• Links 5/12/16
  by Yves Smith 6:55 am

• Clinton Policies Have Hurt Women
  by Yves Smith 6:05 am

• Satyajit Das: “Stay in the Name of Reform” – The Fed and ISDA’s Derivative Bankruptcy Initiative
  by Yves Smith 6:00 am

• Democrat Hedge Fund Investors Underwrite Political Networks to Privatize K-12 Public Education
  by Yves Smith 3:29 am

May 11, 2016

• 2:00PM Water Cooler 5/11/2016
  by Lambert Strether 2:00 pm

• Michael Hudson: Warning to Europe – How the TTIP Threatens Public Health Care and Pensions
  by Yves Smith 9:55 am

• Links 5/11/16
  by Yves Smith 6:59 am

• As Clinton Looks Vulnerable, Event Risk Favors Trump (and Sanders)
  by Yves Smith 6:54 am

• Gaius Publius: A Corporate Convention: “Comcast Presents … The Democratic Party. Welcome to Philadelphia.”
  by Yves Smith 6:50 am

• Lynn Parramore: Austerity Without Debt Relief Courts New Unrest in Greece
  by David Dayen 3:00 am

• Noam Chomsky: How Imperial Violence Backfires – Lessons from the Middle East
  by Yves Smith 2:15 am

May 10, 2016

• 2:00PM Water Cooler 5/10/2016
  by Lambert Strether 2:00 pm

• Pentagon Allowed to Supply Military Gear Directly to Homeland Security Dept. for ‘War on Immigrants’
  by Yves Smith 9:55 am

• Links 5/10/16
  by Yves Smith 6:58 am

• Germany Blinks on Giving Debt Relief to Greece….or Did It?
  by Yves Smith 6:23 am

• Smart Money Doing Private Equity in House as General Partners Warn of Lower Returns, Dumb Money Pours In
  by Yves Smith 6:10 am

• What OPEC Has To Fear From The New Saudi Oil Minister
  by Yves Smith 1:38 am

May 9, 2016

• 2:00PM Water Cooler 5/9/2016
  by Lambert Strether 2:00 pm

• Where is Amy Klobuchar? How Democratic Indifference is Squandering a Unique Moment on Antitrust Policy
  by David Dayen 9:55 am

• Links 5/9/16
  by David Dayen 6:55 am

• The Minimum Wage Increases = Job Loss Myth
  by Yves Smith 6:00 am

• CalPERS’ Fiduciary Counsel Robert Klausner, Calls CalPERS’ Divestiture of Tobacco Stocks a Violation of Fiduciary Duty
  by Yves Smith 5:14 am

• Noam Chomsky: American Power Under Pressure
  by Yves Smith 3:20 am

May 8, 2016

• Links 5/8/16
  by Yves Smith 6:55 am

• Our Awful Elites Gutted America. Now They Dare Ring Alarms About Trump, Sanders—And Cast Themselves as Saviors
  by Yves Smith 6:00 am

• Inflation Targeting and Neoliberalism
  by Yves Smith 5:11 am

• Naked Capitalism’s Diptherio Discusses Flaws in Unemployment Reporting
  by Yves Smith 3:25 am

May 7, 2016

• Links 5/7/16
  by Yves Smith 6:55 am

• TTIP: We Were Right All Along
  by Yves Smith 4:14 am

• “John Doe’s Manifesto”: Panama Papers Source Blasts Lack of Media Interest, Calls for Prosecutions, Whistleblower Protection
  by Yves Smith 3:51 am

May 6, 2016

• 2:00PM Water Cooler 5/6/2016
  by Lambert Strether 2:00 pm

• When Commodity Prices Fall
  by Yves Smith 9:55 am

• Links 5/6/16
  by Yves Smith 6:55 am

• Don Quijones: Wrath of Draghi Hits Germans Who Refuse to Blow Their Savings
  by Yves Smith 4:48 am

• American Police State: Secret Service Controlling Journalist Access to Conventions by Arbitrary, Secretive, No Appeal Screening Process
  by Yves Smith 4:19 am

• Nomi Prins: Gimme Shelter (From the Tax Man), Disappearing Money and Opportunistic Candidate
  by Yves Smith 3:26 am

May 5, 2016

• 2:00PM Water Cooler 5/5/2016
  by Lambert Strether 2:00 pm

• Lessons from Iceland, Where Offshore Created an Onshore Bubble Free of Rules and Regulations
  by Yves Smith 9:55 am

• Links 5/5/16
  by Yves Smith 6:55 am

• Consumer Financial Protection Bureau to Put End to Mandatory Arbitration for Consumer Loans, Credit Cards
  by Yves Smith 6:09 am

• Spontaneous Protests in Baghdad Green Zone Show Cracks in the Security Apparatus
  by Yves Smith 3:39 am

• Is Gasoline Demand the Biggest Red Herring In Oil Markets?
  by Yves Smith 2:14 am

May 4, 2016

• 2:00PM Water Cooler 5/4/2016
  by Lambert Strether 2:00 pm

• Nuland Tells Cyprus To Cut Russian Ties – Pressures Anastasiades To Accept Nato Plan For Turkish Troops In Cyprus
  by Yves Smith 9:55 am

• Links 5/4/16
  by Yves Smith 6:59 am

• Tough Private Equity Transparency Bill in Illinois Focuses on Indefensible Contract Terms, Beats California Bill on Fee Disclosure Requirements
  by Yves Smith 6:58 am

• “Free Trade” in Trouble in the United States
  by Yves Smith 4:59 am

• Bill Black: Free Markets Mean Zero Economic Profit – or a 99% Profit Markup
  by Yves Smith 4:35 am

May 3, 2016

• 2:00PM Water Cooler 5/3/2016
  by Lambert Strether 2:00 pm

• Inequality Kills: Top 1% Lives 15 Years Longer Than the Poorest
  by Yves Smith 9:55 am

• Links 5/3/16
  by Yves Smith 6:55 am

• Gaius Publius: Politico – Less than 1% of the Hillary Victory Fund Benefited State Parties
  by Yves Smith 6:50 am

• Mania in Private Equity as Investors Throw Money at Funds
  by Yves Smith 6:40 am

• Hospital Profits and Quality May Fall, But Hospital Executives’ Compensation Keeps Rising
  by Yves Smith 3:02 am

May 2, 2016

• 2:00PM Water Cooler 5/2/2016
  by Lambert Strether 2:00 pm

• Andrew Ross Sorkin Helps Obama Airbrush His “Economic Legacy” with Obsequious Exclusive Interview in the New York Times
  by Lambert Strether 12:57 pm

• Links 5/2/16
  by Lambert Strether 6:55 am

• Economics of the Trans-Pacific Partnership (TPP): Distributional impact
  by Lambert Strether 6:45 am

• Greenpeace Leak Exposes Big EU-US Rifts, US Thuggishness, in TTIP “Trade” Negotiations
  by Yves Smith 4:51 am

• Randy Wray: Progressives Don’t Let Friends Vote Neocon
  by Yves Smith 4:29 am

May 1, 2016

• Credentialism and Corruption: Neoliberalism in The “News” Room
  by Lambert Strether 12:25 pm

• Links 5/1/16
  by Lambert Strether 6:50 am

• A Simple “Trade” Solution to Boost Workers Across the Planet
  by Lambert Strether 5:55 am

• Open Thread: Debacle for US Iraq Policy as Protesters Seize Parliament in Green Zone
  by Lambert Strether 2:55 am