Author Archives: Yves Smith

Gaius Publius: When Trump Talks Trade, Voters Listen

It’s easier for liberals to blame Trump voters for racism than to blame themselves for the job-loss and pain of the working class.

Links 3/12/16

Radioactive Waste Still Leaking Five Years After Fukushima Nuclear Disaster

The Fukushima site is still leaking radioactive water and the cleanup and remediation will take decades.

Louis Proyect: Boom Bust Boom

Boom Bust Boom a wickedly funny but mind-expanding analysis of 2008 crisis driven by the proposition that the capitalist system is inherently unstable.

Brexit Endangers London’s Status as a Financial Hub

Brexit could damage London’s attractiveness as the centre of European banking, as an entry point to the EU and as a global financial hub.

Links 3/11/16

Gaius Publius: The Goal of the Neo-Liberal Consensus Is to Manage the Decline

Neoliberals want ordinary people to accept that their standard of living will decline. It’s not hard to see whose interest that story promotes.

John Helmer: US War Aim Fails, Putin Gains, Medvedev Loses

Approval ratings for Putin remain high despite corruption scandals because they believe no one is as capable of defending them against the US

Wolf Richter: Desperate “Dumb Money” from China Now Chasing Unicorns

The influx of money from China is increasingly going into bubbly markets and sectors.

Links 3/10/16

Could This Lawsuit Be the Straw That Breaks the TPP’s Back?

TransCanada has filed a $15 billion lawsuit against the US under NAFTA or scuttling its cross-border pipeline. The TPP gives foreign investors even stronger rights.

Wall Street Journal Analysis of Mortgage Settlements Shows Very Little Went to Wronged Borrowers

A review of where the mortgage settlement money went is a reminder of how wronged borrowers were giving cheap and largely empty promises rather than meaningful help.

Krugman Then and Now on Trade

Krugman shifts ground (yet again) as hostility to the negative effects of trade deals appears to be a big component of Sanders’ Michigan upset

The IMF and the Next Crisis

The IMF is now expected to be the first responder to a financial crisis when it may be less well equipped than in the past.