Author Archives: Yves Smith

The Bizarre and Widely Disparaged Fitch Downgrade of US Government Debt to AA+

The financial press and Mr. Market shrugged off the Fitch downgrade of US government debt from AAA to AA+. Why?

Two Overlapping Takes on Inflation

MMT backer Richard Murphy and London finance organ City A.M. have surprisingly simliar views on the causes of inflation but differ on remedies

Links 8/1/2023

Gonzalo Lira Reports Torture in Ukraine Prison, Extortion, Inevitable Conviction with Sentence of 5 to 8 Years in Labor Camp

Gonzalo Lira is alive after being tortured in prison. He is tryng to flee Urkaine, witih tacit approval of the authorities. Wish him luck.

Be Aware: Someone Could Steal Your Medical Records and Bill You for Their Care

On medical fraud: what you can do to prevent it and respond when it happens.

Going on a Big Energy Diet: Will the Status of Women Be a Casualty?

Will coming energy crunch roll back women’s gains?

Explaining China’s & India’s Reported Differences Over Expanding BRICS

Quelle surprise! China and India have different economic interests, which means they have diverging visions for BRICS development.

NATO Failed in Ukraine Against Russia. Now It’s Targeting China

NATO is trying to extricte itself from Ukraine. But will the US play ball?

Links 7/29/2023

Why the GOP Is Trying to Take Credit for Union Workers’ Infrastructure Victory

The feckless Dems get no respect, even on the rare occasions when they do the right thing, as with a recent infrastructure bill.

Central Banks and Income Distribution: Does the Taylor Rule Push Up Rentier Incomes?

An explanation of how a favorite Fed rate setting tool, the Taylor Rule, promotes inequality by shifting income away from workers.

Some Thoughts on the Russian End Game in Ukraine

What might Russia do as Ukraine’s military weakens?

Revealed: Fossil Fuel Giants Are Using British Influencers to go Viral

Some badly-needed naming and shaming of soi-disant influencers who ran undisclosed advertorials for dirty energy companies

Alt-Media Is in Shock After the BRICS Bank Confirmed That It Complies with Western Sanctions

Andrew Korybko explains why the BRICS won’t move as quickly on the new reserve currency projects as enthusiasts suggest.