"Zugzwang is the German word for a situation in chess (and life) in which a move must be made, but each possible one will make the situation worse. It also captures perfectly the predicament facing central banks in Europe." Fantastic this by @DanielaGabor
ft.com/content/2d79d1… https://t.co/QeLUkHEYE0
Chartbook: Mortgage pressure, the domestication of the American garage, the global cereal market & Siberian power adamtooze.substack.com/p/mortgage-pre…
Chartbook: Mortgage pressure, the domestication of the American garage, the global cereal market & Siberian power adamtooze.substack.com/p/mortgage-pre…