Author Archives: Yves Smith

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.

Links 5/21/2022

‘Public Bank’ Bill Blocked From State Senate Vote After Industry Pushback

Why is a modest public bank plan for New York going nowhere?

Book Review: An Urgent Plea to Save the World’s Megaforests

In “Ever Green,” two conservationists present a surprisingly hopeful look at the five five remaining megaforests.

Michael Hudson on the Ongoing Economic War

Michael Hudson looks at the long game of fundamental ecomomic restructuring of trade and financial relations among great powers.

Department of Justice to Saddle Up Against Private Equity Consolidation/Monopolization Plays. Will It Work?

The Department of Justice says it is taking aim at private equity. Will it hit any targets?

The Tory Guide to Surviving the Cost of Living Crisis

From moving into your parents’ annex to getting a better-paid job, the government has some savvy little tips for cost savings.

Your Money and Your Life: Private Equity Blasts Ethical Boundaries of American Medicine

In a harrowing new book, Laura Katz Olson exposes how private equity is taking over health care companies – and preying on human lives.