Author Archives: Yves Smith

Finance Capitalism vs Industrial Capitalism: How Financial Parasites and Debt Bondage Are Destroying Us

Another Michael Hudson star turn on debt dynamics, this time focusing on the coronavirus bailouts are shoring up rentiers.

Covid-19, The Coming Developing Country Debt Crisis and The Argentina Debt Reduction Proposal

Even the IMF backs the new debt put forward by Argentina. Could it be a model for Covid-shocked emerging economies?

Schadenfraude Alert: Airbnb Mini-Moguls in Meltdown as Bookings Collapse

Once fat and happy Airbnb landlords are now in a world of hurt.

Why the Oil and Gas Industry Will Never Be the Same

An overview of the dislocations in the oil market.

Consumer Beware: Coronavirus Antibody Tests Are Still A Work In Progress

How hopes for coronavirus tests are ahead of the state of play.

Quarantine Cat Tricks

Cat intermission.

Public Health and Private Profits Under COVID-19 Pandemic

More discussion of how the private sector is undermining responses to Covid-19.

In a Slap in the Face to Progressives, Biden Appoints Larry Summers, a “Literal Architect of Neoliberalism,” to Economic Advisory Role

If you need proof that Biden doesn’t give a damn about oridinary people, his bringing Larry Summers in from political exile should convince you.

CalPERS Out of Control: Stunningly High Number of Personal Trading Violations, Yet Board Ignored the Misconduct

CalPERS yet again manages to exceed expectations in a bad way.

Max Blumenthal and Ben Norton With Michael Hudson: How The US Makes Countries Pay For Its Wars – Economics Of American Imperialism

Economist Michael Hudson explains how American imperialism has created a global free lunch, where the US makes foreign countries pay for its wars, and even their own occupation.

Links 4/25/2020

Diary of Samuel Pepys Shows How Life Under the Bubonic Plague Mirrored Today’s Pandemic

Samuel Pepys’ emotional roller coaster during a plague outbreak, and search for treatments in a medical fog, suddenly seems familiar.

Is There Deflation or Inflation in Our Future?

We don’t have a recovery in sight, but some economists are already worried about inflation.

‘No Warming, No War’: Report Details How US Militarism and Climate Crisis Are Deeply Interwoven

“In the face of both COVID-19 and the climate crisis, we urgently need to shift from a culture of war to a culture of care.”

Max Blumenthal and Ben Norton With Michael Hudson: US Coronavirus “Bailout” Is a $6 Trillion Scam

Michael Hudson explians why the coronavirus bailouts are even more of a gimmie to the rich than they look.