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Tag Archives: Regulations and regulators

Jim Chanos: China’s “Leveraged Prosperity” Model is Doomed. And That’s Not the Worst

Yves here. We’ve pointed out from time to time with respect to China that no large economy has ever made the transition from being investment-led to consumption-led without suffering a financial crisis. Here, short-seller Jim Chanos, who has been too early with respect to China longer than Nouriel Roubini was with respect to the global financial crisis, argues that the Chinese real estate bubble has gotten so out of hand despite repeated efforts by the government to let air out of it that bad...

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Insurance Focused on Virtual Visits? The Pros and Cons of a New Twist in Health Plans

Jerri-Lynn here. During the pandemic, I’ve done some telemedicine sessions, but only with doctors I’ve seen in person before. So I don’t know exactly how I view this trend, especially as so many medical ‘innovations’ are more focused on making profits, at the expense of patient care. So what may seem to be a good thing in theory, on reflection turns out to be just another vehicle for profit extraction. Because that’s what our neo-liberal health care system is designed to do. Readers? What’s...

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Never Mind the Pandora Papers: Why Secrecy Still Rules in the UK

Yves here. Our Richard Smith provides a broader look into the question of why so little has changed on the secrecy front despite a fair bit of press and even some regulatory and legislative efforts to rein it in. The short version is: “It’s hard!” but there are specific devices the shadowy money types employ to evade what to most would seem to be pretty clear-cut rules. Our Richard Smith is back! As you can see below, he’s a co-author of a new piece at openDemocracy on a favorite topic: how...

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Reallocation Effects of the Minimum Wage

Yves here. Classic studies by Andrew Card and Alan Krueger on the impact of minimum wage increases on the income and employment levels of fast food workers came to similar conclusions as this paper: increasing minimum wages does not in fact produce unemployment, and so winds up in a net increase in the income of low wage workers. From Vox after Krueger committed suicide: In introductory economics courses, students are typically taught that setting price floors — on milk, oil, or, perhaps most...

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European Investment Scammers Allegedly Laundered Their Money through Scotland

Yves here. Our Richard Smith is back! As you can see below, he’s a co-author of a new piece at openDemocracy on a favorite topic: how shady investment vehicles like Scottish limited partnerships facilitate scams and money laundering. Richard took up this beat when a friend lost a lot of money to an international scammer. He discovered that the authorities won’t get out of bed if the ripoff is below $20 million, and even then it’s hard to get their attention, since cross border crime is...

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The Energy Transition Will Take Decades Not Years

Yves here. Yesterday we had an exchange in comments over how ending all subsidies to carbon-generating energy source would greatly accelerate making do with less energy use as well as speeding the shift to cleaner energy sources. Other readers pointed out that most consumers would be wrecked by >$12 gas at the pump; the retort was to take the money formerly spent on subsidies to households with income under $75,000. The article below instead takes a “business as usual” position and assumes...

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Vaccine-Only Mandates as a Manifestation of the Bizarre Civil War-Stoking Impulses of the Professional-Managerial Class in the US

Never in my worst nightmares did I imagine I would ever want Bernanke and Geithner back in charge. Yes, vast swathes of the public at least dimly recognized that the financial crisis bailouts were designed to preserve the banking system at their expense. Yes, no executives went to jail or even had their feathers ruffled. Yes, the Fed, the Treasury, and central bankers all over the world refused to believe that the derivatives-leveraged debt bomb was aimed at the heart of the financial system,...

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When McDonalds Came to Denmark

Yves here. Forgive me if you were already well versed in how Danish workers brought McDonalds to heel, but I wasn’t, and the account is instructive. It shows what solidarity looks like, an orientation that was never that strong in the US to begin with and has been weakened even further by attacks on labor rights and neliberalism fraying community ties. By Matt Bruenig, a lawyer, policy analyst, and founder of the People’s Policy Project. Originally published at his website Every few months,...

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NYC Set to Pass Food Delivery App Laws Securing Workers Minimum Pay, Bathrooms and More

Yves here. Even though workers seem to be clawing back some of their lost ground via wage increases, we’ve still seen very little in the way of successes in bargaining situations. And with ever-more employer surveillance and forcing workers to meet almost impossible production schedules, the losses in control over conditions are at least as bad as the long-term decay in pay levels. So a victory in the “gig economy” space is particularly welcome. Some heads will explode over the the...

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Sports Desk: Top College Athletes Strike Endorsement Deals; Meanwhile, the NCAA Seeks to Influence Pending Federal Legislation

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 2021-2022 ushers in a new era for college athletes: they may now strike commercial endorsement deals and benefit from the use or their names, images, and likenesses (NIL). Before this season, the National Collegiate Athletic Association (NCAA) – the member-led organization that sets the rules for college sports programs – prohibited athletes from...

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