Australia’s Fuels Dependence Turns Into a Crisis
Australia is on its way to becoming the first advanced economy major victim of the Iran war due to baffling policy choices.
Read more...Author Archives: Yves Smith
Iran War: Accelerating Economic Damage Creates Urgency on Strait of Hormuz Closure; Shambolic US Assault Preparations Continue; Iran Demands Recognition of Sovereignity Over Strait; Houthis Set to Strangle Red Sea Traffic if US Makes Ground Attack
Trump’s fight with the Iran war tar baby is at great risk of creating even more dangerous escalation.
Read more...Satyajit Das: The Modern ‘Share the Scraps’ Economy
A clinical look at the extractive behavior that all that share, erm, sharing economy talk obscures.
Read more...How the US Became an International Serial Killer
An Iran-focused update on America’s shameful, destabilizing status as global killer in chief
Read more...Easing Capital, Reviving Risk: The Quiet Return of Too Big to Fail
Less capital, more risk. The latest move on big-bank rules suggests that too big to fail was never solved, only deferred.
Read more...Iran War: Mainstream Media Starting to Acknowledge Potential Iran Victory as Trump Flails About, Readying Ground Assault; EU Reversal on Russia Oil Sanctions, Emergency Actions in Asia, Even China, Shows Accelerating Economic Damage
Today’s Iran war update: the current reduction in temperatures does not mean a resolution of the war or damage to the global economy is nigh.
Read more...Concentration Camps, US Style: Dehumanization for Fun and Profit
Rebecca Gordon describes US concentration camps, um, detention centers, as money-driven vehicles for authoritarianism and abuse.
Read more...Economic Questions: The Robert Nozick Question
On the simplistic reasoning Robert Nozick used to justify inequality and a minimal state
Read more...Links 3/24/2026
Iran War: US/Israel Attacks Near Iran Energy Infrastructure; Temporary TACO as Boots on the Ground Moves Continue? Postol on How Iran Nukes Israel in Retaliation and the Horrific Consequences; Gulf States Double Down on Loyalty to US
Today’s Iran war update: Trump moves toward a ground attack as positions on all sides are hardening and the global economy bleeds out
Read more...The Economic Consequences of a Low-Skilled Immigration Sudden Stop: Evidence from Korea’s Guest Worker Programme
The example of South Korea suggests that a halt in immigration by low-skilled workers does not boost pay or job conditions for natives.
Read more...Iran War: Trump’s 48 Hour Deadline Approaches; Soldiers Fearful as Lindsey Graham Calls for Their Sacrifice; Complacency in Face of Intersecting Shortages, Like Food and Plastics
Today’s Iran war update: Let us hope that this saying proves not to be germane – Things look the darkest before they go completely black.”
Read more...Boomerangs of Empire: Latin America as Colonial Laboratory
A Latin America case study on how the pursuit of empire has come to haunt the US.
Read more...Iran War: Trump Issues 48 Hour Unhinged Ultimatum to Iran; Iran Vows Mass Destruction Countermeasures; Israel Takes Hit to Dimona Area, Other Blows After Second Firing on Iran Nuclear Reactor Site ; More Warnings of Deep Damage from Strait of Hormuz Closure, LNG Reduction Effects
Today’s Iran war update: Trump threatens action which will lead to Iran retaliation that will destroy the world economy. Will he proceed?
Read more...
