Author Archives: Yves Smith

The Danger of Underestimating Russia

If we keep insisting on sticking with our self-serving fantasies about Russia, we are only going to dig our hole deeper.

The EU Needs More Than $1 Trillion for Plan to Ditch Russian Oil and Gas

The EU will have to make very large expenditures to end its depencence on Russian energy. But does it also have the organizational chops?

Links 5/25/2022

Small Players Get Hammered in the Supply Chain Crunch: The Rotary Dumbphone Case Study

The tortous development/production process for Justine Haupt’s rotary dumbphone illusrates the obstacles to innovation in America.

New KKR Stunt in Neverending Kentucky Retirement Systems Litigation: Demanding Removal of Judge Philip Shepherd

KR is at it again! And of course, not in a good way.

Housing Bubble Getting Ready to Pop: Unsold Inventory of New Houses Spikes by Most Ever, to Highest since 2008, with 9 Months’ Supply, Sales Collapse at Prices below $400k

The housing market is starting to unravel at the lower end, with new home purchases taking the biggest hit.

How Many Bots Are on Twitter? The Question Is Difficult to Answer and Misses the Point

A disingenuous defense of Twitter bots.

Links 5/24/2022

At Least 11 Dead in Wake of Michigan Tornado, Canada Derecho

As if tornadoes weren’t bad enough, you now need to add the derecho to your summer weather risks.

Fighting Inflation Excuse for Class Warfare

Too many central bankers are raising interest rates at the expense of working people’s families, supposedly to check inflation.

Paradigm and Nervous Breakdown: Globalization Goes Into Reverse as Inflation/Scarcity Crisis Accelerates

How long-established structures are approaching breakdown, yet those in charge try to look past that.

Geopolitics Takes A Back Seat As Biden Drops Sanctions On Venezuela

Quelle surprise! The US is trying to kiss and make up with Venezuela.