The Plutonomy—AI Edition—and the Coming Crisis
Driven by speculative finance, stagnant wages, and AI hype, today’s tech-heavy economy mirrors the fragile plutonomy that collapsed into the Great Crash of 1929.
Latest news (Page 168)
Yves Smith on a Big Puzzle
She blogs today about a real mystery in financial markets, i.e. why Lehman's CDO auction didn'
LIBOR: Still Stuck
From today's Financial Times (here's the main point: "While rates are coming down, traders say
Post-Election Hangover (short)
US Markets have lost all their gains from yesterday, as of 12.44 pm EST. Europe and UK getting hit
Shift in Economic Thinking (Lawrence Mishel)
A statement on the economic implications of Barack Obama's historic election victory, by Lawrence Mishel, president of the
Good Piece on Finance
In the UK monthly, Prospect. It covers the whole shebang, from the Efficient Markets Hypothesis to more mundane things like:
A LIBOR Primer
Possibly to be used in tandem with our recent piece on commercial paper. From the London Review of Books: What&
Spoilsport
This posting is from D&S collective member and frequent blogger Larry Peterson. To see more of his posts,
Bank Failures And Presidential Transitions
This is from Bob Feldman: During periods of U.S. establishment presidential transitions in the past, U.S. commercial banks
'You Can't Make This Stuff Up...'
...is the universal response to this item circulating through the blogosphere this morning. From Clustershock Beta. Hat tip to Across
GM Chrysler Deal Would Cause Massive Layoffs
As sales at US automakers continue to fall through the floor, Chrysler and GM are trying desperately to hammer out
Kaletsky: Transition to Begin Immediately
Anatole Kaletsky makes some very strong, but interesting claims. A must read: November 3, 2008 Change of guard could administer
PE: Bankruptcy 'n Things 'R' Us
Our July/August issue included a feature article on private equity by Orlando Segura, who worked in PE firms for