Author Archives: Yves Smith

Inflation Paranoia Threatens Recovery

Inflation hawks are winning. A ‘beggar thyself’ race to raise interest rates has begun. But this response slows economic growth.

Covid Sightings: Omicron Reinfections, Brain Effects, Shabby US Performance, Western Australia Border Controls

There’s enough new Covid news as to merit some focus on the bigger developments…so have at it!

A Facet of Late-State Capitalist Failure: Operational Breakage

Are seemingly increasing operational failures a sign of a bigger pathology?

The UK’s Post-Brexit Review of ‘Retained EU Law’ Risks Undermining Democracy

Brexit requires the Government to disentangle domestic law from EU law. The preferred plan is to hand more power to unaccountable ministers

Sweet Smell of Success: Tales From the Garbage Heap Lost and Found

Yes, sometimes you really can get things back that mistakenly went out in the garbage. Some pointers on when that might be possible.

Links 2/1/2022

CalPERS Continues to Grossly Misrepresent Facts and Law to Avoid Disclosing Full Transcript of Improper Board Meeting After CIO Ben Meng Quit; Will Judge Markman Buy It?

True to form, CalPERS general counsel Matt Jacobs is playing fast and loose with the law and facts. Will Judge Markman let him get away with it?

Neoliberalism Was Born in Chile. Now It Will Die There

A constitutional convention is remaking Chile to break with the model forged by murderous dictator Augusto Pinochet

Covid Situation Continuing to Develop Not Necessarily to the Officialdom’s Advantage

The new Covid news isn’t better than the old Covid news, and some is actually disconcerting.

Russia/Ukraine: The Donkey Turd Bomb and US Empire in Europe – How It Began, How It Is Ending

Russia’s Foreign Minister Sergey Lavrov sets forth what Russia might do next with respect to Ukraine.

Links 1/29/2022

Bad as QE Was, Unwinding It Rapidly Could Be Worse

Getting out of super low interest rates and unwinding QE is proving to be easier said than done.

McKinsey: Net-Zero By 2050 Needs $9.2 Trillion Annual Investment

McKinsey gives a not surprisingly big estimate for the cost of energy transition. But it’s unlikely to have considered radical conservation.

Navigating Russia/Ukraine Warmongering Disinformation

Trying to pull some signal out of the considerable propaganda, um, noise, on Russia and Ukraine.