Macroeconomics of Tariffs with Global Production and Finance Networks
A new model that incorporates more real world factors than standard approaches finds that tariffs can do more damage than previously thought.
Read more...Author Archives: Yves Smith
Iran War: Trumps Makes New Threat as Buildup Continues; Middle East Data Centers, Key to US Military, at Risk; More Recognition of Risk of Shortages Like Impact of Scarce Diesel
Today’s Iran war update: Trump again bares his teeth and makes escalatory moves as the global economy starts to bleed out.
Read more...Breaking: Ukraine Fires Hundreds of Drones at Moscow
Zelensky tries to show some muscle in a large drone attack on Moscow. Will Putin finally drop the hammer?
Read more...Iran War: More Speculation that US Will Restart War, Along with Possible UAE Operation Against Key Iran Island, Big Explosion at Israel Weapons Factory; Yet More on Imminent Real Economy Damage
Today’s Iran war news: Rumors on Trump to decide on restarting war, possible UAE action, Israel explosion, plus info on real economy damage
Read more...Links 5/16/2026
Iran War: Economic Pressures Rise and Bond Market Jitters Increase as Gulf States Rebel, Constraining Trump Even More
Today’s Iran war news: Trump faces actual or incipient revolts from bond investors and Gulf States, with shortages also becoming visible.
Read more...Michael Hudson: US Designs on Iran and the Trump-Xi Summit
With Iranian journalist Ali Alizadeh, Michael Hudson debunks White House spin on the Trump-Xi talk and gives a historical view of the war
Read more...South Korea Will Remain a Key Part of the US’ Chinese Containment Plans
The US hopes South Korea and Japan will join AUKUS+ to advance its China containment schemes.
Read more...Ready or Not, AI Government is Already Here
AI’s reach in government services is already bigger than most realize and is set to grow considerably.
Read more...Brazil, Russia, India, China and South Africa: How They Stack Up on Reusing Waste
BRICS members have a lot to teach each other, and the advanced world, about waste reuse.
Read more...Iran War: Tanker War Lite as Trump Comes Even More Unglued and Real Economy Damage Becomes More Visible
Today’s Iran war update: The contest over control of the Strait of Hormuz continues as Congresscritters and the press tally war costs.
Read more...China’s Real Estate Reckoning: Lessons from Japan’s Lost Decade
China is still suffering a real estate bubble hangover, with a lot of symptoms similar to Japan’s deflation.
Read more...‘Hands Off Our Pensions’: Belgian Workers Take to the Streets in General Strike Against Austerity Measures
The latest national strike in a series over a year and a half against policies that a union leader said will heighten inequality and poverty
Read more...The Russian Triad Is Now on the Same Page Regarding Southern-Emanating Threats from NATO
The most powerful Russian agencies consider how to respond to the risk of a NATO-instigated three-front proxy war.
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