Author Archives: Yves Smith
Venezuelan Oil and the Limits of U.S. Refining Capacity
Most economic analysis of Trump’s planned Venezuela oil heist has focused on production. Time for a wee look at refining.
Read more...Greenland Is the Crown Jewel of “Fortress America”
More on Trump’s plans to annex Greenland.
Read more...Michael Hudson: Weaponizing the World’s Oil Trade is the Bedrock of the U.S. Rules-Based Order
How justifications for US foreign and economic policy revolve around the oil trade.
Read more...Links 1/13/2026
Illinois, Minnesota Sue Over Trump ICE Agents Who ‘Have Acted as Occupiers’
Better late than never: states are starting to file suits over ICE thuggery.
Read more...What Would a Trump Takeover Mean for Greenland’s Resources?
A look at a Trump pretext for taking Greenland: its significant stores of oil, gas, and minerals, with the vast majority still underground.
Read more...Justice Department Subpoenas the Fed, Threatens Powell with Criminal Indictment. Powell Comes out Swinging. Stock Futures Tank
Trump pursues another own goal by escalating with Fed chair Powell over his refusal to lower interest rates by launching a criminal probe.
Read more...“Trump’s $1.5 Trillion Gamble: Will Endless Conflict Win Midterm Votes?”
Trump’s plan for US military spending of $1.5 trillion puts the military at the core of his presidency and may signal a move to all-out war.
Read more...Is an Attack by Iran Imminent?
Signals are growing that Iran may be on the verge of Doing Something.
Read more...Links 1/10/2026
Rodriguez or Trump: Who Is Really Running Venezuela?
Will Delcy Rodriguez govern as a compliant and coerced US puppet, or as leader of an undefeated and independent Venezuela?
Read more...Thrift Store. Clinic. Roller Rink. New Orleans Center Becomes ‘Radical’ Lifeline Amid Homelessness, Drug Crises.
A New Orleans collective is a heartening example of community self help…and an indictment of income inequality and failing social programs.
Read more...Portland Mayor Decries Mounting Bloodshed, Tells ICE to Get Out After Federal Agents Shoot Two
Portland mayor Keith Wilson called on ICE to halt operations pending a probe of its latest shootings. That won’t happen. So what do cities do?
Read more...Russia’s Second-Ever Use of the Oreshniks Was a Response to Three Recent Provocations
Russia seems finally to have gotten the memo about Trump’s worse-than-bad-US-norms duplicity and love of violence and is escalating.
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