Author Archives: Yves Smith

Links 8/9/2022

Wrong Way CalPERS Increased Private Equity Allocation by Over 50% as Investors Are Dumping Holdings

The Financial Times reports that private equity investors are running for the exits as CalPERS plans to pile on.

America, Land of the Dying? Alarming Study Shows U.S. Killing Its Own Population

American became an outlier among rich countries in mortality rates pre pandemic, and Americans are dying younger than their peers abroad.

Memo to China: You Look Silly When You Threaten to Dump Treasuries

If China intends to cov the West, it needs to pick things it could do that would incur real damage. Selling Treasuries it not that.

The Supreme Court’s Own Goal on Climate Change

Why the Supreme Court ruling in West Virginia v. Environmental Protection Agency looks more like hacker than jurisprudence.

Links 8/6/2022

Why Give a Damn About Pelosi? How About the Nuclear Strike We Would Have Made on China Over Formosa?

In 1958, the US considered a nuclear strike against China if China’s planned conquest of Formosa went well.

Recession Mongers Shocked & Horrified by This Surge in Employment

Perversely, investors want a recession to force the Fed to pivot. But it’s tough to have an official recession with employment growing.

PredictIt: The Closing of a Prediction Market

PredictIt is likely to shutter. A look at how contract holders may win or lose, as well as the loss of a window into voter sentiment.

Endgame Taiwan? US Plans Further China Eyepoking with Planned Military Transit of the Taiwan Strait

China and the US are making threat displays over Taiwan. Lovely.

Hubert Horan: Can Uber Ever Deliver? Part Thirty-One: Uber’s Legitimate Cumulative Losses Top $32 Billion; P&L Improvements Driven by Much Higher Fares and Multi-Billion Dollar Transfers From Drivers to Shareholders

Even big fare hikes and cuts to driver pay have failed to produce profits at Uber. And these pricing changes are not likely to be sustainable.

Inside the Democrats’ Climate Deal with the Devil

The new climate package furthers the US’ most profligate pastimes: drilling oil and driving big cars.

The Dying American Southwest

Will people abandon the American Southwest or fight like hell to keep it?

German Chancellor: Germany Could Keep Nuclear Power Plants Operating After All

A sign of German energy tsuris: Chancellor Scholz suggests reviving nuclear power, in opposition to earlier recommendations by key ministries.