Russia’s Budget Deficit Jumps Amid Plunging Oil Revenues
Russia had a budget shortfall due to a fall in energy-related tax receipts. How serious a problem is this development?
Read more...Author Archives: Yves Smith
The US and the Philippines’ Military Agreement Sends a Warning to China – 5 Key Things to Know
So much for the Biden commitment to XI after a 2 1/2 hour phone call to improve relations…..
Read more...The Economics of the Ukraine Proxy War with Michael Hudson and Radhika Desai
A meaty discussion of the broader implications of the war in Ukraine.
Read more...Rain and Heat, Fire and Snow: Life in a Destabilized California
Climate change and California are not getting on very well.
Read more...James Galbraith: The Quasi-Inflation of 2021-2022 – A Case of Bad Analysis and Worse Response
Galbraith explains why conventional views of inflation are a particularly poor fit for recent price increases and produced bad policy
Read more...Employment of “People with a Disability” Spiked to Record in Hot Labor Market. Applications for Disability Benefits Fell to 20-Year Low
Covid-induced labor market tighteness is giving people with a disabilty more access to jobs than evah.
Read more...A Big Reckoning Starting for Private Equity and Its Public Pension Fund Enthusiasts
Private equity returns are finally going pear-shaped, but for the most part, investors are re-upping their bets.
Read more...How Corporations Hope to Eviscerate Workers’ Right to Strike
A suit by Glacier Northwest, seeking to recover costs it incurred during a strike, is now before the Supreme Court.
Read more...US Inflation Policies Slowing World Economy
The Fed is playing killer of the current inflation even though it isn’t set up to do so. That’s hurting a lot of innocent bystanders.
Read more...An Old, Small Opening Salvo v Russia? 2013 Bank Bail-In “increasingly has the smell of a proxy Germany v. Russia struggle through Cyprus”
A closer look at an old Eurozone banking crisis shows how Cyprus was (at least to a degree) used to get at Russia.
Read more...How the Left Should Exercise Power Once They Have It
Another episode in the long-running soap opera, “Can the Left Be Saved?”
Read more...“Yes, Britain Is Corrupt. But It’s a Lot Worse Than You Think”
The press talked up the UK’s drop in the Corruption Perception Index. But the UK has long been an engine of corrupt conduct around the world.
Read more...Anecdata on the Restructuring of the Russian Economy
A report from a Russian working abroad about the effect of the war on his industry.
Read more...Why, Despite RAND’s Recommendation, the Ukraine War Is Unlikely to End in a Negotiated Settlement
The timing of a Blinken interview and a RAND paper release points to elite splits over Ukraine. Sadly the warmongers are still in charge.
Read more...Radhika Desai and Michael Hudson Discuss the Causes and Politicization of Inflation
Desai and Hudson debunk widely-believed, finance-and-elite-serving myths about inflation.
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