Author Archives: Yves Smith

William Astore: How American Learned to Love, or at Least Not Hate, Its Nuclear Bombs

William Astore recalls his encounters with icons of US nuclear development, and is sad they are still with us.

4 US Banks Crash in 2 Months: Banking Crisis Explained by Economist Michael Hudson

US banks keep falling over but the Fed is curiously indifferent.

Peanut Butter Is a Liquid

The matter of what is a liquid has made the news…..

Violence in Sudan and the Decline of U.S. Hegemony

The conflict in Sudan is an expression of the changing world order and the intense fight over resources and critical geographies.

Can the US Adjust Sensibly to a Multipolar World?

The US channels Nora Desmond.

Is There Motive Behind the Fed Making Such a Mess of the US Bank Wobbles?

The Fed seems awfully indifferent to the (so far) low level bank crisis it has created.

What is Section 4 of the 14th Amendment, “The Validity of the Public Debt of the United States?”

As the Republicans are digging on raising the debt ceilings, the idea of a constitutional challenge is starting to get traction.

Is This the Beginning of the End for Gasoline?

While the arrival of what is probably peak gasoline is good news, there’s a long way to go in reducing its use.

Links 5/3/2023

Big Banks Must Become Globally Resolvable – or Significantly ‘Smaller’

Sadly, coming up with a way to resolve big international banks is a non-starter. The answer is very strict regulation. But that would be work.

When a Storm Dumped Two Feet of Water on My City, I Learned Something Gratifying About My Neighbors

An in-depth account of being caught in a major flood and dealing with becoming a water evacuee.