Author Archives: Yves Smith

China Pumps $74B Into Banks Amid Credit Crisis

China throws some money at banks to offset the effects of its deleveraging initiative.

The World Is Hot, on Fire, and Flooding. Climate Change is Here.

In the midst of a global heat wave, the media refuses to talk about climate change.

Links 7/26/18

CalPERS Pays $3.4 Million to Dow Jones to Settle Massive Copyright Infringement That We Exposed

CalPERS has torched $4 million total in beneficiary funds so far by acting as if it were above the law and could steal from journalists and publishers.

The Middle Precariat: The Downwardly Mobile Middle Class

The middle class has taken a big hit. Is it going to mobilize?

Financial Times: Chinese Officials “Awed” by Trump’s “Skill as a Strategist and Tactician”

Believe it or not, many top Chinese officials are impressed with Trump’s game so far.

10 Down-to-Earth Things Powell Said about Cryptocurrencies

The Fed is perfectly content to have cryptocurrencies be the SEC’s problem.

Links 7/25/18

Brexit Crash Out Virtually Certain

Brexit uglies are only getting uglier.

Michael Hudson: Argentina’s New $50 Billion IMF Loan Is Designed to Replay its 2001 Crisis

Michael Hudson explains why the new IMF bailout of Argentina will not end well.

The Regulation That Could Push Oil To $200

A measure to clean up maritime fuel oil could cause havoc for oil prices generally.

Argentina 20 Years On: Has the IMF Really Changed Its Ways?

The IMF is back in Argentina. The fund pretends that it’s moved away from borrower-punitive programs, but the evidence says otherwise.

Links 7/24/18