FTX is an even bigger mess than someone with a creative streak might have imagined.
Recent Items
Monday, July 27, 2026
FTX: New Ex-Enron CEO Finds “Complete Absence of Trustworthy Financial Information,” $3.3 Billion Loans to SBF, Customer Deposits Not Recorded on Balance Sheets; Confirms Software Backdoors, Auto-Deleted Communications
Topics: Currencies, Dubious statistics, Free markets and their discontents, Legal, Payment system, Regulations and regulators, Ridiculously obvious scams
Posted by Yves Smith at 6:00 am | 117 Comments »
Not Every Robin = Spring and Not Every Story About Moving Away from the Dollar Is Well Founded
A small illustration of why some of the stories about reducing dollar dependence are misguided.
Topics: Currencies, Economic fundamentals, Free markets and their discontents, Globalization, Legal, Payment system, Regulations and regulators
Posted by Yves Smith at 5:55 am | 15 Comments »
2:00PM Water Cooler 11/17/2022
~ Today’s Water Cooler ~
Topics: Guest Post, Water Cooler
Posted by Lambert Strether at 2:00 pm | 98 Comments »
Where’s the Contagion from the Crypto Implosion?
Why, if you aren’t in crypto, you can watch the meltdown in comparative comfort.
Topics: Banking industry, Currencies, Free markets and their discontents, Guest Post, Investment outlook, Payment system, Regulations and regulators
Posted by Yves Smith at 9:55 am | 57 Comments »
Links 11/17/2022
Topics: Guest Post, Links
Posted by Lambert Strether at 6:55 am | 103 Comments »
U.S. Diesel Inventories Hit Historic Lows At The Worst Possible Time
The diesel squeeze is getting worse, but it is still not clear how actute it might become.
Topics: Economic fundamentals, Energy markets, Guest Post, Income disparity
Posted by Yves Smith at 6:32 am | 37 Comments »
Russia Launches New Electrical Grid/Infrastructure Strikes in Ukraine
Russia launched a new round of infrastructure attacks on Urkaine, but so far it looks more selective than yesterday’s massive blows.
Topics: Doomsday scenarios, Europe, Infrastructure, Russia
Posted by Yves Smith at 5:29 am | 83 Comments »
Why Don’t The Poles Admit the War Isn’t Winning the Next Polish Election and Isn’t in Poland’s National Interest – Unless Zelensky Loses Galicia to Poland, Again
There is less enthusiasm for the Ukraine war amond some Polish voters than the US/UK press would have you believe. And winter is coming.
Topics: Doomsday scenarios, Energy markets, Europe, Guest Post, Politics, Russia
Posted by Yves Smith at 4:37 am | 36 Comments »
2:00PM Water Cooler 11/16/2022
~ Today’s Water Cooler ~
Topics: Water Cooler
Posted by Lambert Strether at 2:00 pm | 90 Comments »
Sick Profit: Investigating Private Equity’s Stealthy Takeover of Health Care Across Cities and Specialties
Another account of the extent of the private equity health care grifting, as well as some avenues to check these abuses.
Topics: Banana republic, Free markets and their discontents, Guest Post, Health care, Politics, Private equity, Regulations and regulators, Ridiculously obvious scams, The destruction of the middle class
Posted by Yves Smith at 9:55 am | 9 Comments »
Links 11/16/2022
Topics: Links
Posted by Yves Smith at 6:58 am | 197 Comments »
Russia Continues to Escalate Electrical Grid/Infrastructure Attacks; Charges Over Attack on Poland Shift Focus from Damage
Despite the lack of media interest, the Russian destruction of Ukraine’s electrical grid could determine the outcome of the war.
Topics: Guest Post
Posted by Yves Smith at 6:54 am | 78 Comments »
As Gig Economy Grows, Its Toll on Workers Mounts
Democrats help the gig economy expands its reach as it brings pain and suffering to more American workers.
Topics: ECONNED, Free markets and their discontents, Guest Post, Income disparity, Moral hazard, Pandemic, Politics, Regulations and regulators, Social policy, Social values, Technology and innovation, Uber
Posted by Conor Gallagher at 6:53 am | 23 Comments »
When Marshal Kutuzov Joins General Winter and General Surovikin, What Happens Next on the Front
An overview of how Russia approaches war, and then a discussion of why Pavlovka matters in the Ukraine campaign.
Topics: Doomsday scenarios, Europe, Guest Post, Politics, Russia
Posted by Yves Smith at 6:08 am | 23 Comments »
2:00PM Water Cooler 11/15/2022
~ Today’s Water Cooler ~
Topics: Guest Post, Water Cooler
Posted by Lambert Strether at 2:00 pm | 84 Comments »


