Author Archives: Yves Smith

Drug Price Wars: What Can Really Tame Big Pharma?

What’s really driving Big Pharma’s price gouging — and why have Federal efforts to rein it in made so little progress?

Financial Institution Leaders Issue More Warnings of Equity Market Froth, Dodgy Debt Bombs

Financial firm heads are making admissions against interest. Further discussion of apparent and potential risks.

Trump 2.0’s Eurasian Balancing Act Has Failed

Yet more case examples of Trump arrogance and aggression producing failure.

Israel, the US, and the New Aerial Imperialism

Israel has used the US, or vice versa, to subdue the neighborhood via aggressive air campaigns. But is that sustainable?

The Huge US Bond Market and the US Dollar Blow Off the “Debasement Trade”

Why the dollar and Treasuries have rallied despite the Liberation Day swoon and “debasement trade” patter.

Links 10/14/2025

The Rising Carbon Footprint of Electricity in the United States

On the policy of increasing electricity generation without decarbonization, as in increased reliance on gas.

Crypto Crash Leads to Customer Bail-Ins to Prevent Some Exchanges from Failing

Yet more reason to be leery of crypto: even when you have won on a leveraged bet, you can be haircut to help rescue the exchange.

AI: Is it Really Different this Time?

AI is huge. But so is the hype, hocus-pocus deals, and piles of real money fortified by leverage that caused stock prices to explode.

Links 10/11/2025

Are We Waking Up Fast Enough to the Dangers of AI Militarism?

The Trump Administration is eager to integrate AI into military operations, even as experts warn: “The AI is always playing Curtis LeMay.”

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