Author Archives: Yves Smith

Financial Times: “Things Could Fall Apart for Biden”

Even Biden loyalists are getting nervous.

Reconstructing US-China Relations

Can the US and China be friends, or at least not so hostile? Jeffrey Sachs has some ideas.

Quelle Surprise! New Study Confirms that Public Pension Funds Use Flattering Benchmarks to Hide Failure to Beat Simple Indexing; CalPERS Is a Case Study

Documenting yet another way public pensions funds lie to themselves and their many constituencies about their performance.

The Delta Variant Thrives in a State of Political and Public Health Discord

More worries about Delta.

Haiti Ruling Families Create and Kill Monsters

How Haiti is a fiefdom for gangs and foreigners pilfering the country’s natural resources.

The U.S. Shale Revolution Has Surrendered to Reality

The funding for shale production in the US has dried up as moneybags finally realize that there’s no profit to be had.

Hospital ‘Trauma Centers’ Charge Enormous Fees to Treat Minor Injuries and Send People Home

The trauma center ripoff provides more evidence that the medical industry is primarily in the business of exploitation, not care.

Links 7/16/2021

California Senate Shoots Down CalPERS’ Private Debt Secrecy Bill; Board Hissy Fit Reveals It Never Questioned Staff Misrepresentations

CalPERS is no longer being given the benefit of the doubt by the legislature, and can’t handle a request to ‘splain itself.

Bad News About Iran and Nuclear Deal

Oof, Biden blows the chance to keep relations with Iran from moving further in the wrong direction by capitulating to his hardliners.

Biden Targets Non-Compete Agreements, Which Restrict the Job Opportunities of Millions of Low-Wage Workers

Biden goes after non-compete agreements….but will this effort make a difference?

Robinhood’s Revealing Ad Pitch: We’re All Investors, Alone

The latest Robinhood campaign is more raspberry than rah rah.

The Conflict Within OPEC Is Far From Over

Another byproduct of inflation generally and rising gas prices in particular is more eyes on OPEC.

Consumer Inflation Rises…Will It Draw the Fed’s Attention?

Inflation is hitting a few important sectors very hard. The Fed isn’t set up to contend with this problem, but will it try anyhow?

A Curious Union: Covid, Clorox, Cleveland Clinic, and the CDC Foundation

Cleveland Clinic’s and the CDC Foundation’s unsound Clorox sponsorship confirms that the US has the best medical system that money can buy.