Matt Stoller: Naked Capitalism-“God is in the Details”
Author: Matt Stoller, author Goliath: a 100-year war between monopoly power and democracy And the research director of the U.S. Economic Freedom Project Write regularly in Substack
This is a sentence I like, (although its origin Controversial), because it illustrates the basic quality missing in our politics, and you can always find this quality in naked capitalism. substance.
I rely on this website because I know that any content here is strictly censored and the logic is explained in detail. Take Yves Smith’s pursuit of the California pension fund CalPERS as an example, which is irresponsible, incompetent, hasty and corrupt. Almost everyone in the financial and antitrust industries believes that public pension funds must hand over funds to private equity investors as a matter of course, just like this is a universal law. Few people are willing to really cover up the ugly political choices that staff and board members of these funds make every day to promote mass thefts.
Yves did just that. This is important for two reasons. First, it makes bad guys less willing to be as openly stingy as they might like. Second, it makes those who are upright braver than they think. As Daniel Ellsburg once said, “Courage is contagious.” I might add that this is also true.
This is why it makes so much sense to support Yves Smith, Lambert, Jerri-Lynn, Nick and this community. Naked capitalism sends one of the most important messages to all of us, both inside and outside these institutions: You are not alone.It provides a relevant message to all enemies inside and outside of our institutions: We will not leave.
Donation means that we endorse these two pieces of information. So if you believe in the community of truth like I do, it’s important, Then do your best on the donation page. If you have a lot, give a lot. If you have nothing, then say some words of encouragement. All this is important.
For spreaders of the truth, the past few years have not been easy. I work with people on both sides of the aisle, and the most common problem is not malice, deception or corruption. Not interested in details at all. 80% of commercial or political articles in mainstream media are soap opera nonsense. Catch that. I extend my deepest apologies to soap operas, they at least tried to pretend the integrity of the narrative. This choice of not telling stories based on low-level details is why politicians only care about the most superficial things-this is the motivation. Naked capitalism is changing these incentives by actually showing the underlying substance. Let us continue to donate.
If you can’t afford anything, you can still spread the message about naked capitalism by telling friends and family, spreading important stories, and posting links on Facebook and other social media. In fact, never use Facebook or social media. Just don’t. You will be happier.
Another part of attention to detail is that it keeps you ahead of the curve. My first contact with Naked Capitalism was in 2006, before the financial crisis, when Yves noticed that the problem of securitization would get very bad. She was right at the time because she carefully studied the details of how these musical instruments were put together and played before the movie was released. It took four years for the policy community to catch up. Since then, everything has been the same from reviewing Uber’s business model to the collapse of Boeing to the Eurozone crisis.
This year, the naked capitalist community has been holding a deadly attitude towards supply chain and transportation issues, antitrust, CDC’s failed “mission completion” moments, the atomizing nature of Covid, and the use of non-pharmaceutical interventions. This kind of content is very important. The doctors set up office ventilation based on what they have learned here, from Yves and all of you.
So if you want to know what problems we will recognize in a few years, you can find it here now. This is why support is so important, Because such reports and analysis force them to pay attention.
Of course, it’s not just Yves. Lambert consumes and shares a lot of research, from Covid research to swamps and mangroves, Jerri-Lynn covers restoration rights, antitrust, opioid settlements, glyphosate cases, and many others from a legal perspective matter. Nick Corbishley expanded Naked Capitalism’s coverage of the little-known stories of European and Latin American banking, political economy, and Covid.
I like to give exciting speeches on the hope of democracy and its never-ending ability to renew. In such an era, it is hard to imagine such words as meaningful. But I get comfort from a few things. First of all, most of what you are talking about here is actually going into policy. In my own antitrust field, this is really shocking. Two years ago, there was no chance for change. Today, there are five antitrust lawsuits against Google, two antitrust lawsuits against Facebook, and one antitrust lawsuit against Amazon, and they are likely to be carried out within a short period of time. In other areas, such as public health, the CDC has been forced to retreat to stricter methods because they have been corrected by people like Yves and all of you.
Second, even if things seem hopeless sometimes, it’s always nice to know that we still have the ability to annoy some very bad people just by telling the truth. They know the details, they know their power lies in the rest of us not knowing them. So naked capitalism is always behind their manicured bald heads. Help her continue to annoy them!You can donate here.
In addition, this website talks about gardens. Who doesn’t like gardens? Calpers! Who is that! Well, that is a lie.