Author Archives: Yves Smith

Russia’s Attritional Approach to Ukraine Negotiations Shows Gains in Trump-Putin Phone Call

Despite the tendency to see the Trump-Putin call as a nothingburger, it added to the exposure of uncomfortable truths for the West.

Mass Media and the Spectacle of the Imperial Presidency

How the Trump presidency has successfully adapted TV image-burnishing skills to social media….natch, at the expense of substance.

Crypto Crooks Now Eating Their Own as Crypto Holders Targeted in Crime, Even Violent; Coinbase “Hack” an Inside Job, and Highly Damaging to Wallet-Holders

Crypto crirme, particularly violent ones like finger-choppings, are increasing. This should not be much of a surprise.

Nuclear Winter from a Pakistan-India War Could Kill 2 Billion

Even a limited nuclear conflict could cause years of potentially devastating impacts to climate and societies.

Links 5/17/2025

Trump’s Trade Deals Endanger Farmers and Our Food System

Trump is reversing protections of the US food system, subjecting farmers to a race to the bottom in international markets

Shanghai’s Liberation Daily Interviewed Michael Hudson: The Trade Conflict Has Brought Irreversible Impacts, Trump Is Compromising Himself

A look at the US’s flagging economic model and how the Trump trade war will affect the US, China, and other counties.

Japan to Arm Wrestle the US About Tariffs….and What About Restrictions on Chinese Investments and Products?

Japan wanted an early US trade deal. It is discovering that its sort-of special relationship with the US is not getting it any breaks.

Book Review: A Skeptical Look at Grand Designs for the Future

A harsh look at schemes for a happy future, at least for billionaires, which ignore their problems and excuse tolerating rot today.

Weight Loss Drugs Like Ozempic Prove the Sickness at the Heart of the NHS

Most users of GLP-1 agonists like Ozempic need to stay on them long-term to keep pound off. So is medicine promoting an addicition?

Trump Smoke and Mirrors on Full Display in Claimed “$142 Billion” Saudi Arms Deal

A look at the workings and effectiveness of Trump hype, from the touted India-Pakistan mediation to DOGE to the new Saudi arms agreement.

Wall Street Journal Reports UnitedHealth Under Criminal Investigation for Medicare Fraud

The Department of Justice is reportedly seeking to indict UnitedHealth for Medicare Advantage fraud. Why has it been so hard to make a case?

When Illusions of Wealth Shape the Economy: Understanding Pseudo-Wealth, Macroeconomic Volatility, and Social Welfare

Why pseudo-wealth like crypto is detrimental to social welfare, as in the collective good.

Despite China’s Warning, US Has Opened New Front in Trade War with Investment Restrictions in UK Pact

Trump made a big retreat on his China tariffs. But a second gambit, investment restrictions to isolate China, is already giving China fits.