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.
Read more...Author Archives: Yves Smith
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.
Read more...Michael Hudson Discusses How Religions Opposed Usury, the Catholic Church “Interest” Rebranding, and More on the Evolution of Financial Rentierism
On the long-standing religious and ethical proscriptions against usury, and how and why the Catholic Church rebranded it as interest.
Read more...Why the Right Fiercely Attacks the US Postal Service: Its Unions
Looking at a big reason why conservatives are so keen to privatize the US Postal Service: to eliminate its unions.
Read more...What The Endgame in Gaza Means For Middle East Security And Oil Prices
Netanyahu plans another aggressive incursion into Gaza, intended as a Final Solution of sorts. Is a retaliatory oil embargo a real risk?
Read more...Links 5/13/2025
Decisive Win for Pensioners, Taxpayers in Kentucky as Judge Wingate Rejects Attorney General’s “Get Out of Jail for Almost Free” Scheme for KKR and Blackstone
The plaintiffs seeking to claw back funds from misbehaving finance titans like KKR and Blackstone continue their winning streak.
Read more...They Looted Companies — Now They’re Looting the Government
Poor and self-serving corporate oversight practices are going bigger and badder as they are taken to government.
Read more...Trump Doubles Down on Gaza Cruelty With Threat to Cut UN World Food Programme Funding if the UN Rejects US Scheme (and a BRICS Note)
Another US disgrace in the form of a threat against the World Food Programme to advance a US son-of-floating pier scheme to feed Gazans.
Read more...“How Long Is It Before Reform Implodes?”
Is Reform less formidable than its stunning success in recent local council elections indicates?
Read more...Links 5/10/2025
Michael Hudson: The Catholic Church, the Crusades, and the Origins of International Banking
A wide ranging talk that corrects the record about banking, such as the the Catholic Church, as opposed to Jews, being the prime mover
Read more...How Some Independent Radio Stations Avoid Sounding Like Corporate Drones
Some hopeful independent media news, here on the radio front.
Read more...“The US Trade Deal Is a Bad Deal, and It Has the Potential to Get Worse”
The first US trade “deal”, with the UK, looks as ugly as one might have expected.
Read more...Currency Wars, Class Warfare, and the Republican Dilemma Over Medicaid
Faced with a shrinking list of options to trim the budget, Republicans are now eyeing Medicaid – but will that fly among Trump supporters?
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