Author Archives: Yves Smith

European Gas Prices Extend Gains As French Strikes Block LNG Imports

The economic effects of the massive French strikes are starting to extend beyond France, although so far in a limited way. Is more to come?

Fossil Fuel Industry Phase-Out: Three Critical Worker Guarantees for a Just Transition

PERI research shows just transition policies are easily affordable in all high-income countries and critical to limiting climate change

Fed-Inflicted Bank Wobbles Persist as Investors Fret About Deutsche

Bank fundamentals do not look likely to get better any time soon, yet the Fed seems determined to make matters worse.

How Debt Dynamics Polarize Economic and Political Power

An overview from Michael Hudson’s new book, The Collapse of Antiquity, which extends his analysis of how debt creates an entrenched elite.

The Collapse of Antiquity: Greece and Rome as Civilization’s Oligarchic Turning Point

The media introduction to Michael Hudon’s newest book, The Collapse of Antiquity.

Artificial Intelligence in Medicare Advantage Plans Impedes Access to Care

Another reputable body reports more examples of Medicare Advantage plans using AI to engage in insurance fraud.

Links 3/24/2023

Crash Landing? Part 2 – The Usual Suspects

What parts of the financial system are most vulnerable to a crash?

What’s Actually Behind the Banking Crisis? Why You Pay When They Play.

Law and economics expert Walker Todd explains how a financialized system creates havoc and why it’s time to rethink banking

Energy Transition Advocates Get A Reality Check

Big Oil rollls out new messaging designed to stoke worry about green energy plans.

Links 3/23/2023

Crash Landing? Part 1 – Bonfire of the Banks

Satyajit Das looks at how banks got themselves into so much trouble and what the recent bailouts portend.

The Fed Accused of ‘Playing With Fire’ After Latest Rate Hike

The Fed confirms that its priority is crushing workers, and it believes it’s protected banks enough to allow it to continue.