Author Archives: Yves Smith

Charting the Uncharted: The (Un)intended Consequences of Oil Sanctions and Dark Shipping

An estimate of the magnitude of dark-shipped oil suggests that removing sanctions would raise, not lower, oil prices.

DOGE: Chaos, Damage, Drama Not Enough to Cover the Stench of Corruption

DOGE is up to even more no good than you imagined.

Climate Change: Insuring the World of Tomorrow

Leading edge conventional wisdom on the role of insurance as climate disasters increase underestimates the severity of the problem.

Links 3/8/2025

How Trump’s $2B Court Battle Over Foreign Aid Could Reshape Executive Authority

Why the Trump effort to cut USAID funding without following Congressional requirements is a key front in the battle over Presidential power

How Scientists Can Adapt to a New Normal

In the wake of attacks on the research enterprise, scientists need to focus on protecting its fragile infrastructure.

As US Markets Look a Bit Wobbly, the Press Looks for the Next Crisis in the Rear View Mirror

The Wall Street Journal worried about the giddy mood at the annual structured industry conference. But is where to look for the next crisis?

Trump Presents the Gravest Threat to Social Security in Its 90-Year History

Cuts to the Social Security Administration are cuts to Social Security. Raise hell with your Congresscritters about this looting

New Analysis from Economists for Ukraine: The Cost of US Aid to Ukraine Is Less Than Half the Official Figures

A granular analysis of US military and direct aid to Ukraine finds the official tallies are greatly overstated.

France, Germany, & Poland Are Competing For Leadership Of Post-Conflict Europe

France, Germany and Poland are reacting to how relations between Russia, and the US will determine Europe’s future security architecture.

‘We Know What It’s Like’: How Appalachian Towns Are Learning to Help Each Other After Floods

A meant-to-be-heartening story of post-flooding recovery efforts in Appalachia: is this the coming new normal in climate-change-exposed areas?

“Might the US Be About to Fall Off an Economic Cliff?”

The respected Atlanta Fed NowCast is scary bad, as in economic shoes about to drop in a big way bad.

“SOTU” Reactions: Business Press Turning on Trump as Tariffs Whack Markets, Look Set to Increase Inflation, Approval Falls and Even Republicans Getting Restive

Despite the Republican applause during Trump’s State of the Union speech, the business press is sounding alarms.