Author Archives: Yves Smith

Del Monte Foods Goes Into Bankruptcy: A Trump Tariff Casualty

Struggling Del Monte Foods keeled over due to its exposure to steel and aluminum cost increases from ‘Trump’s tariffs.

Genius Act: This New US Crypto Law Could Pave the Way for the Next Global Financial Crisis

On top of the leverage bombs in the US and other financial systems, the embrace of crypto, specifically stablecoins, is another systemic risk

Early Job Mentoring, Placement, and Training Boost Refugee Integration Without High Costs

Like it or not, advanced economies are committed to immigration to counter low birthrates. Better refugee integration reduces the friction.

The Inevitable Militarization of Space?

A high level review of the US efforts to project power in space and the actions/reactions of Russia and China.

The Sad (Very Familiar) New York Times and Its Mamdani Hit Piece

The hit parade, as in the hit piece parade, on New York City mayor candidate Zohran Mamdani, is still in high gear.

Links 7/9/2025

Trump Just Gave a Huge Gift to China’s Economy

The GOP’s huge new tax and spending law will make it even harder for U.S. companies to compete in clean technologies.

“The Pandora’s Box Has Been Opened”: Von der Leyen Faces Impeachment Risk

EU Commission head Ursula von der Leyen is (finally) in some trouble. How much of a sweat does she need to break to survive?

Will Russia Greatly Accelerate Its Ukraine Tempo to Facilitate Responding to Turkiye-Azerbaijan Threat to Iran?

Will Azerbaijan turning against Russia, perhaps supporting an attack on Iran, force Russia to move faster than it might otherwise in Ukraine?

Links 7/8/2025

AI, Antitrust & Privacy: When More Competition Makes Things Worse

Increased AI competition worsens surveillance, manipulation, and disinformation—threatening privacy, autonomy, and democracy.

Trump’s Self-Destructive Fight with the Fed for Low Interest Rates: His “Fiscal Dominance” Game of Chicken

Trump is fighting another war he can’t win: trying to use interest rates to counter the inflation created by his yawning fiscal deficits.

The UK Aims to Entrench Its Influence in Estonia in Order to Lead the Arctic-Baltic Front

The UK’s clever scheme to enlist rabid chihuahua Estonia to harass Russia in the Baltic theater.

Links 7/5/2025