Author Archives: Yves Smith

Campaigners to Biden: ‘Tell Congress to Pass a Big Oil Windfall Profits Tax’

“Price gouging from Big Oil is unacceptable and that’s exactly why we need a Big Oil Windfall Profits Tax.”

Ukraine War: Russia Preparing for More Terrorism?

Russia is taking a series of impotant new measures. Taken together, they suggest an effort to lower exposure to terrorism.

Wheels Come Off for Tories. Update: Truss Resigns

The Tories, who not long ago seemed poised to permanently cripple Labour, are now in a remarkable crisis with no ready exit.

How Corporations “Get Away With Murder” to Inflate Prices on Rent, Food, and Electricity

Antitrust expert Hal Singer shows how big businesses in certain industries are jacking up prices far beyond their cost increases.

Links 10/19/2022

What Next in the Electric War for Ukraine – How Marshal Kutuzov’s Golden Bridge for Napoleon’s Retreat Is Working Today

John Helmer’s update on the logic and progress of Russia’s attacks on the Ukraine electric grid.

Diesel Crisis Deepens As Inventories Fall To Dangerous Levels

Diesel fuel is in scarcer supply than ever. Shortages coming?

The Sveriges Riksbank Counterfeit Nobel Award Goes to Bernanke et al. for the Wrong Model

Diamond-Dybvig-Bernanke is a flawed model of banking that has no room for a lender of last resort

Vietnam Army General Giap on How To Win, British Armchair General Freedman on How To Lose

Sir Lawrence Freedman declares victory for Ukraine is inevitable because Putin.

Links 10/18/2022

NOPEC Bill Would Mean the End Of Aramco and OPEC as We Know Them

The US is seriously considering yet another self-destructive move: bringing the Saudis to heel via a frontal legal/sanctions attack on OPEC.

Progressives Say New Midterm Poll Must Be ‘Wake Up Call’ to Democrats

“Democrats should close the election with a clear argument about who is prepared to fight for the working class.” Can they?

Is the UK About to Hit the Wall?

The UK is in sorry shape…..and is looking like the canary in the economic coal mine.

Why the Soviet Union Imploded

The Soviet Union depended on energy sales and consumer production stagnated. Reforms promoted the rise of oligarchs and the 1990s free fall.

Links 10/15/2022