Author Archives: Yves Smith

To Beat China, US Should Tax Ray Dalio Out of Existence

A recap of the recent China “Bund Summit,” which included discussion of China’s continuing need for foreign capital.

Notes on a World Without Trump

So what might Trump do if he loses?

Hubert Horan: The Airline Industry Collapse Part 5 – The Battle to Protect Airline Investors From Economic Reality Enters a New Phase

Why the big airline operators’ talk about turning the corner in early 2021 is bunk.

Covid Spikes in Europe, US Before Winter Is Here

Covid is clearly not going away any time soon. The fact that things are looking bad this early does not bode well for the winter.

Housing Market Goes Nuts, Everyone Sees it, But it Can’t Last

A contrarian take on housing.

Goldman Gets Off Easy in 1MDB Scandal Despite Further $2.9 Billion in Payments, Criminal Charge Against Malaysian Sub

Despite the big numbers, Goldman gets the kid glove treatment relative to the severity of its 1MBD misconduct.

The East Mediterranean Crisis Could Ignite a Greek-Turkish Proxy War

Greek-Turkish relations are more rocky than usual. A look at some of the drivers.

CalPERS: Poster Child of Private Equity Cargo Cultism

CalPERS’ zealous defense of private equity looks pathological. So we hazard a diagnosis.

With Bankruptcies Mounting, Faltering Oil and Gas Firms Are Leaving a Multi-Billion Dollar Cleanup Bill to the Public

Yet another example otf how the oil industry is subsidized, here by another way it dumps environmental costs on the public at large.

How To Break the Covid Doom Loop

Are repetitive short lockdowns a viable way to tame Covid-19?

An Indictment of the “Standard Model” for Pension and Endowment Investing

A lucid and daming explanation of why public pension funds and other instutitional investors regularly fall short of popular indexes.