Naked Capitalism
| News and analysis website concentrating on finance and economics. Named as an outlet of "Russian Propaganda" by PropOrNot |
"Fearless commentary on finance, economics, politics and power"
Founder: Yves Smith
Owner: Aurora Advisors Incorporated
Main focus: Wall Street
Naked Capitalism is a news and analysis website concentrating on finance and economics. It was listed by Time Magazine as one of the 25 Best Financial Blogs in 2011[1], before being labelled "an outlet of "Russian Propaganda" by the Washington Post.
Own words
Most people in advanced economies do not realize that we are in the midst of a finance-led counter-revolution. In parallel to the enclosure movement of the early capitalist era, which turned formerly self-supporting peasants into wage slaves, we are now in the midst of a large scale, concerted campaign to reduce the bargaining power and pay of ordinary workers relative to investors and elite technocrats. We believe this effort is not only detrimental to most citizens, but is ultimately destructive to the capitalists classes, since highly unequal societies produce worse outcomes on virtually all broad measures, such as crime rates, longevity, and educational attainment. Indeed, inequality exacts a cost in terms of the health of even the top cohort. But this cohort seems to define its self-interest in narrow economic terms.[2]
With the help of a growing group of dedicated and skilled writers, we are chronicling this transition and doing what we can, in our small way, to fight it. That often takes the form of parsing propaganda, decomposing complex financial structures and legal agreements, and following the money to inform and educate readers about what is going on beneath the surface of major news stories. We regularly criticize government officials and their amplifiers in academia and the media, particularly those who promote policies that favor entrenched interests and the wealthy while pretending they are good or necessary for ordinary people.[2]
Fake News allegation
- Full article: Fake News
- Full article: Fake News
Yves Smith considered a lawsuit against the Washington Post for their publishing of the infamous Craig Timberg support for PropOrNot's claims about "Fake News".