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Tag Archives: Doomsday scenarios

Roiled Repo Markets: Looking for Answers in All the Wrong Places

Even though this is a finance and economics blog, I haven’t written about the disruption in the repo markets. That is in part because the upset is not in any way, shape, or form like the 2008 period when banks were unwilling to repo even Treasuries to each other overnight because they were fearful another major dealer (say Morgan Stanley, which was on the verge of going tits up) would go the way of Lehman. I thought posting on it would feed the false narrative (which sadly is still kicking...

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‘Maybe Rich People Can See the Writing on the Wall’: CEOs Stepping Down at Levels Not Seen Since 2008

By Eoin Higgins, staff writer at Common Dreams. Originally published at Common Dreams A record number of CEOs left their positions in October, a corporate outplacement firm reported Wednesday, the most in one month since the 2008 recession. The news from Challenger, Gray & Christmas raised eyebrows—and concerns over a possible incoming recession—Wednesday evening at progressive news co-op The District Sentinel‘s radio show. “Maybe this means nothing, maybe this is a coincidence,” said...

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Ilargi: Energy vs Waste

Yves here. You may not agree with Ilargi’s argument about the human propensity to use more energy as biologically driven, but it is awfully hard to explain why we as a species are continuing to drive even faster and harder towards a future that will at best have way fewer people in it and then if they are lucky at Home on the Prairie lifestyles. By Raúl Ilargi Meijer, editor of Automatic Earth. Originally published at Automatic Earth   “In theory they were sound on ExpectationHad there been...

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Carbon Taxes and Carbon Pricing Are Not Solutions to the Climate Crisis

Yves here. There is yet another reason why carbon taxes and pricing are not good ways to combat climate change. Economist Martin Weitzman developed a framework for how to deal with externalities like pollution. Andrew Haldane’s summary: In making these choices [between taxation and prohibition], economists have often drawn on Martin Weitzman’s classic public goods framework from the early 1970s.13 Under this framework, the optimal amount of pollution control is found by equating the marginal...

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Another Health Industry Initiative to House the Homeless

It is mind-boggling how backwards American policies are. As we chronicled, some hospitals and insurer are waking up to the fact that giving housing to the chronically ill homeless is cheaper than having them make heavy use of emergency rooms, who if they take Federal funds, are require to accept all comers. Mind you, this is hardly a new observation. Malcolm Gladwell outlined the problem in a 2006 New Yorker article, Million Dollar Murray: [Reno bicycle cop Patrick] O’Bryan and [his partner...

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Flip Flop: UK Halts Fracking in England, Effective Immediately, Over Earthquake Fears

By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She is currently writing a book about textile artisans. The UK on Saturday halted all fracking in England, following publication of a report by the Oil And Gas Authority (OGA) into recent seismic activity at Preston New Road, a site operated by exploration and production company Cuadrilla. According to Phys.org in Britain calls halt on fracking following government U-turn: The OGA report found that it was...

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‘Is This About the Oil Industry?’ House Oversight Hearing Explores Big Oil’s Role in Weakening Clean Car Standards

By Dana Drugmand, a freelance writer and attorney who writes about climate issues. Originally published at DeSmog Blog The House Oversight Committee, which last week heard testimony on the oil industry’s efforts to suppress climate science, continued to probe the industry’s deception and influence with a hearing on the Trump administration’s proposed rollbacks of clean car standards — rollbacks that stand to benefit Big Oil at the expense of consumers and the environment. At Tuesday’s hearing...

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Grab Your Apocalypse Bag — It’s Fire Season in California

Yves here. I must confess to being more complacent than I should regarding fires, thanks to being an urban creature my adult life. For instance, we had an AM fire alarm in my hotel before I had gotten up, and I operated on the assumption that it was a false positive, which proved to be correct. And I could not have walked down one flight, let alone 17, and the method I would have used to get down the fire stairs would have been slower than walking and gotten me trampled on. Not a pretty...

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Waste Watch: Single Use Plastics, Please Ban Them, Now

By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She is currently writing a book about textile artisans. I know better, I really do. But last night, with my husband sitting waiting for me in the car as I grabbed some groceries, I consented to have my purchases bundled into a single-use plastic bag: crushed tomatoes, tomato puree, sour cream, a couple of hoagie rolls, and two perfectly ripe rose d’anjou pears. I never leave the house without a grocery...

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Our Response to the Next Crisis Must Tackle Consumerism

Yves here. While one can applaud the sentiments in this post, status competition is a strong feature of most societies. Admittedly, some have revered accomplishment or sacrifice or exemplary behavior over having a lot of toys. But so much of our behavior revolves around consumerism that it affects how we tackle problems. For instance, one strong theme in Green New Deal programs is to build new energy efficient housing. Yet the energy cost of a new house is roughly 10 years of operating a not...

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