Author Archives: Yves Smith

The Collapse of Antiquity: Greece and Rome as Civilization’s Oligarchic Turning Point

The media introduction to Michael Hudon’s newest book, The Collapse of Antiquity.

Artificial Intelligence in Medicare Advantage Plans Impedes Access to Care

Another reputable body reports more examples of Medicare Advantage plans using AI to engage in insurance fraud.

Links 3/24/2023

Crash Landing? Part 2 – The Usual Suspects

What parts of the financial system are most vulnerable to a crash?

What’s Actually Behind the Banking Crisis? Why You Pay When They Play.

Law and economics expert Walker Todd explains how a financialized system creates havoc and why it’s time to rethink banking

Energy Transition Advocates Get A Reality Check

Big Oil rollls out new messaging designed to stoke worry about green energy plans.

Links 3/23/2023

Crash Landing? Part 1 – Bonfire of the Banks

Satyajit Das looks at how banks got themselves into so much trouble and what the recent bailouts portend.

The Fed Accused of ‘Playing With Fire’ After Latest Rate Hike

The Fed confirms that its priority is crushing workers, and it believes it’s protected banks enough to allow it to continue.

How Monetary Policy Affects Bank Lending and Financial Stability: A ‘Credit Creation Theory of Banking’ Explanation

Another nail in “loanable funds”, which justfies austerity but does not explain how central banks produce credit and monetary growht.

How the Current Refusal to Deal Harshly with Failing Banks and Their Executives Will Create an Even Bigger Crisis

Why the expected official response to this bank panic wil make matters much worse, just not right away.

Medicare Advantage Uses Algorithms to Block Care for Seniors

How AI is institutionalizing Medicare Adantage fraud, to the degree that appeals of denials often outrun the patient’s life.