Links 8/29/2026

The latest roundup from Naked Capitalism highlights key economic and geopolitical developments shaping the late summer of 2026. The platform, known for its critical analysis of financial and political systems, features contributions from economists and journalists such as Yves Smith, Michael Hudson, KLG, Conor Gallagher, and Nick Corbishley. These articles examine debt dynamics, the rise of businessmen-politicians in the U.S., climate-related challenges in Europe, escalating tensions at the Morocco-Spain border, Russia’s expanding Arctic trade route, and a deepening trade conflict between the U.S. and Canada under former President Trump.

One of the most pressing issues addressed in the roundup is the growing influence of businessmen in politics, particularly in the United States. Yves Smith explores how this trend is reshaping governance and policy priorities, often prioritizing corporate interests over broader public welfare. This shift is part of a longer trajectory of debt accumulation and wealth inequality, as analyzed by economist Michael Hudson, who traces the historical and structural factors behind modern financial crises.

In Europe, concerns over energy security are intensifying as the continent braces for winter with natural gas storage levels at their lowest in two decades. The situation underscores the fragility of Europe’s energy independence, particularly in the wake of reduced Russian gas supplies and the continent’s push toward renewable energy transitions. KLG’s analysis connects these challenges to broader themes of climate change, working-class struggles, and political instability across the continent.

Geopolitical tensions are also escalating at the Ceuta-Morocco border, where Morocco has stationed troops near the Spanish enclave, raising alarms about a potential crisis. Nick Corbishley reports on how this standoff reflects broader shifts in North African politics and Europe’s migration challenges. Meanwhile, Russia is advancing its strategic interests in the Arctic, opening new trade routes that could bypass traditional European supply chains and further isolate the continent economically.

On the trade front, tensions between the U.S. and Canada have reached a new low, with former President Trump invoking a Depression-era trade tool to impose tariffs on Canadian goods. The move threatens to disrupt supply chains, raise consumer prices, and strain diplomatic relations ahead of U.S. midterm elections. Yves Smith breaks down the potential consequences for North American trade, consumer costs, and the political landscape in both countries.

These interconnected developments—from debt and energy crises to trade wars and geopolitical flashpoints—paint a picture of a world grappling with deepening inequalities and shifting power structures.

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