Author Archives: Yves Smith

The Potential Climate Consequences of China’s Belt and Roads Initiative

The anticipated heavy use of coal in building out China’s Belt and Road effort is a climate change train wreck.

Links 2/20/2020

Russia Is Defeating The U.S. In The Middle East Oil Game

The US made a mess of Iraq, and at considerable cost, and Russia is in the process of picking up the best pieces.

CalPERS’ Election Rigging: Pushing for Most Costly, Insecure Online and Phone Voting Despite Abject Failure, Why? To Help SEIU Influence Election

CalPERS remains unwilling to run clean and secure elections. One has to wonder why.

HSBC Announces Mass Job Cuts, Huge Write-Down, Asset Sales, Halt of Share Buybacks. Warns of Coronavirus Impact on Credit Losses & Revenues in China & Hong Kong

Once storied, now sprawling TBTF HSBC has started a big retrenchment in the face of mounting business woes. Is it the canary in the coal mine?

Another Demise of a Storied Business at the Hands of Private Equity: Fairway

Fairway shows how private equity ruined a successful and much loved business.

On February 6 Antarctica Was Warmer Than Orlando, But Mainstream Democrats Fiddle as the Planet Burns

Democrats ex Sanders are punting on climate change.

More Concerns About China’s Coronavirus Economic and Political Downside

How coronavirus is destabilizing China.

Links 2/16/2020

A Full Scale Attack on Medical Debt

An integrated proposal for ending medical debt.

Foreign Exchange Swaps: Hidden Debt, Lurking Vulnerability

How hidden foreign exchange swaps contribute to financial fragility.