Naked Capitalism

I have come to see Naked Capitalism as a platform aimed at encouraging critical thinking through a finance and economics blog. I began writing in December 2006 after noticing a significant lack of coverage in the US regarding the seriousness and breadth of risk underpricing in various credit instruments. It was clear to anyone with a decent understanding of financial markets, who followed sources like the Financial Times and Bloomberg, that the official story was misleading.

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

1 day ago | nakedcapitalism.com | Yves Smith

Pretty much everyone not hopelessly enamored with Trump has seen his tariff war, qua tariffs, as having produced an embarrassing retreat. The Wall Street Journal gave a representative shellacking in The Great Trump Tariff Rollback. However, Mr. Market’s celebration of Trump’s proclaimed reset with China rests on dodgy foundations. The Trump Administration is still implacably committed to checking China’s advance in any way it can, even if the means to do so seem to be in short supply.
Michael Hudson Discusses How Religions Opposed Usury, the Catholic Church "Interest" Rebranding, and More on the Evolution of Financial Rentierism

1 day ago | nakedcapitalism.com | Yves Smith

Yves here. Michael Hudson goes into ample historical detail on how the great Western religions, Christianity and Islam, as well as Confucianism, treated the accumulation of wealth by merchants and financiers via what was first called usury as not just suspect, but against the greater good and therefore immoral. The Catholic Church managed to overturn that reading of the ethics of commerce when the Catholic Church needed to raise funds to fight infidels and the Eastern Orthodox church.
Why the Right Fiercely Attacks the US Postal Service: Its Unions

1 day ago | nakedcapitalism.com | Yves Smith

Yves here. This post makes the contention that the long-standing fixation of the conservatives to privatize the Postal Service isn’t merely about privatization in the normal sense. Historically, all but the most extreme anarcho-libertarians conceded the need for a small state, with bridges, roads, defense, and some form of postal service on the list of envisioned services.
What The Endgame in Gaza Means For Middle East Security And Oil Prices

2 days ago | nakedcapitalism.com | Yves Smith

Yves here. We occasionally post articles by Simon Watkins, as we do today, to give readers a window into hard-core neocon thinking with respect to the Middle East. Remember, Watkins is not creating his assessments from whole cloth. His contacts really do believe, for instance, that Israel really does have the capacity to eliminate every major Iranian nuclear site that supports potential weapons development.
Links 5/13/2025 | naked capitalism

2 days ago | nakedcapitalism.com | Yves Smith

Ohio police find raccoon holding meth pipe during traffic stop NBC (Micael T) Gene mutations help flowers mimic foul odor to attract carcass-loving pollinators PhysOrg Demonology aeon If Everyone Has Trauma, Everyone Has Trauma Freddie deBoeer. “this is less dismissive than it sounds.” News you can use! "By adding "udm=14" to your Google search URL, you can strip away all the AI summaries, knowledge panels, and ads that clutter the results.
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 | naked capitalism

2 days ago | nakedcapitalism.com | Yves Smith

A plot that extended, in different forms, across two different Republican attorneys general in Kentucky, first Daniel Cameron, now Russell Coleman, has failed, and in a big and embarrassing way, as you can see from an order we have embedded at the end of this post.
They Looted Companies — Now They're Looting the Government | naked capitalism

2 days ago | nakedcapitalism.com | Yves Smith

Yves here. A terse but cogent description of how executive grifting has moved on to the deeper pockets of government. By Lynn Parramore, Senior Research Analyst at the Institute for New Economic Thinking. Originally published at Institute for New Economic Thinking website There’s a familiar myth in American politics: that of the no-nonsense business leader who cuts through red tape and gets results.
Trump Doubles Down on Gaza Cruelty With Threat to Cut UN World Food Programme Funding if the UN Rejects US Scheme

3 days ago | nakedcapitalism.com | Yves Smith

Those bothered by the New World Order According to Trump may have specific triggers. Mine is the way Trump has managed to make the moral cesspool of our support of Israel’s genocide even more mephitic and wantonly cruel. The Biden Administration had enough self-awareness to feign discomfort even as it backed Israel’s monstrous conduct. The Trump Team might be mindful of overextension with Iran and the Houthis.
" How Long Is It Before Reform Implodes?" | naked capitalism

3 days ago | nakedcapitalism.com | Yves Smith

Yves here. This post on the longer-term prospects for the Reform Party is certain to annoy some readers. As Financial Times columnist Lucy Kellaway wrote in her book, Sense and Nonsense in the Office: In my experience, prejudices make for good reading. They either confirm your own, or make you cross, either of which is better than nothing in these bland times.
Forensic Science Faces an Identity Crisis

4 days ago | nakedcapitalism.com | Conor Gallagher

By Laura Spinney, a science journalist and writer based in Paris. Her book “Proto: How One Ancient Language Went Global” will be published on May 13. Originally published at Undark. When does context become bias? It’s a question that engenders anxiety in many scientific disciplines, and with good reason. Information about a patient’s family history may nudge a doctor towards the right diagnosis, or tip them towards a wrong one.