Author Archives: Yves Smith

The Gold Standard

A primer on the gold standard, including a discussion of its implications.

The Gas Stove Panic

The recent Biden campaign to restrict gas stove in homes is decidely inorganic. What might be behind it?

Is Civilization at Stake in Ukraine?

An effort to deflate the hype over the probable loss of the war by Ukraine does not go far enough.

The Correlation Between Oil Prices And Inflation Isn’t Straightforward

More debate about the role of energy price increases in consumer inflation.

ChatGPT Is a Data Privacy Nightmare. If You’ve Ever Posted Online, You Ought To Be Concerned

More reasons to regard ChatGPT as CheatGPT.

Elite Splits Over Ukraine Shed a Tiny Bit of Light on Factions

It is possible to infer a few things from recent Ukraine push-and-pulling, but none of it is reassuring.

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?

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…..

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.

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

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.

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.