Author Archives: Yves Smith

Why Inflation Sticks Around: The Role of Class Warfare in Price Persistence

A new twist on inflation: how workers and corporates trying to preserve their financial position has the effect of perpetuating inflation

Wars, Taxation, and Increases in Representation

A historical analysis shows that greater representation was a bargain autocratic, here feudal, rulers had to strike to get support for war

Why Is the Media Normalizing Nuclear War and Its Effects on US Populations?

The meme-contour of recent articles seems designed to promote resignation towards nuclear war and other horrors of combat.

“The Corporate Takeover of Housing”

Debunking some widely held misperceptoins about why US housing is so pricey.

Project Nectar: Another Palantir Special

Meet Project Nectar, a new surveillance state initiative being tested for the UK and planned for rollout to police forces broadly.

Chinese Government Tries to Combat Destructive Deflation. Will It Succeed?

The economic hazard of deflation is already stalking China, to the degree that even Xi is trying to take it on.

Links 7/16/2025

Yanis Varoufakis: Who Needs Marx in 2025?

To free ourselves from our technofeudal overlords, we must think like Karl Marx.

Dutch Industry Buckles Under Energy Transition and Global Pressure

High energy costs in Europe, largely due to sanctions against Russia, has spread the gangrene of de-industrialization to the Netherlands

Insurers Dump Catastrophe Risk of Climate Change and Earthquake to Chump Bond Investors. What Could Go Wrong?

Garden variety investors, including retail, are signing up to insure climate change and other disaster risk via catastrophe bonds.

Links 7/15/2025

U.S. Political System Is Bought, Not Broken. A New Party Won’t Fix the Basic Problem.

Real reform in American politics won’t come new parties — but from breaking investors’ grip and rebuilding power from the ground up.

Possible Kraft Heinz Breakup: A Buffett Investment Failure, Thanks to Healthier Tastes Among the Better Off and Need for Better Bargains for the Rest

A badly under-perfoming merger, Kraft and Heinz, is set to be reversed. Did that deal undermine the giants adapting to changing tastes?

“Europe Won’t Need Russian Gas in the Future”

Europe celebrates its economic suicide by continuing down the path of achieving independence from cheap Russian gas.