October 17, 2022
RT @darioperkins: The BoE forcing the UK govt to U-turn on its (moronic) fiscal policy has same vibe as when the ECB effectively kicked out…
RT @darioperkins: The BoE forcing the UK govt to U-turn on its (moronic) fiscal policy has same vibe as when the ECB effectively kicked out…
RT @DanielaGabor: 'no government can control markets' – well, hello TINA, welcome back from the grave of COVID19 pandemic maro
RT @GavJacobson: "What comes after us? What is our responsibility to the continuity of life?" @adam_tooze on Latour newstatesman.com/international-…
Bruno Latour and the philosophy of life – I did a piece in memoriam for @NewStatesman newstatesman.com/international-…
RT @aronchick: Anytime anyone nowadays says “Wage growth leads to an inflationary spiral and it’s happening right now”: 1) It’s exceedingl…
RT @_TimBarker: beautiful passage from the end of WEB Du Bois's book on John Brown (1909) https://t.co/YtZpikf6yQ
RT @MacroAlf: Understanding money is crucial to become a better global macro investor Step #1 Commercial banks neither multiply reserves…
RT @michaelxpettis: Just finished @GhassanMoazzin's book on foreign (i.e. German) banks in China. I love books on banking history, and for…
Wage-price spirals, NATO's Eastern front & the brains behind the bombers. on Chartbook adamtooze.substack.com/p/wage-price-s…
Top Links #103 Wage-price spirals, NATO's Eastern front & the brains behind the bombers. on Chartbook adamtooze.substack.com/p/top-links-10…
If I read @IMFNews WEO Oct 22 correctly, it is devastating to "wage-price spiral"-fear-mongering a. in most episodes like present, nominal wages do not track inflation -> real wages fall b. passthrough from wages to prices is, in fact, modest to non-existent in US economy. https://t.co/b8aWcuoEn6
"Overall, the historical evidence suggests that episodes characterized by about a year of accelerating prices and wages have not generally lasted, nominal wage growth and price inflation tending to stabilize on average" @IMFNews on history of actually existing wage-price spirals https://t.co/w2r50v1lSd
@rochowanski @hanskundnani Oh I am sure this is him personally speaking. One thing that Borrell has a lot of, is opinions about stuff like this!
The @IMFNews econ team searched, but it just could not show that in general wage-price "spirals" are in general runaway phenomena. In other words they aren't really spirals. So instead it regaled its readers with a few "rare" and "extreme" examples. WEO Oct '22 https://t.co/77suoWgsdV
Global macro situation in 2021/2: rising inflation, positive nominal wage growth, declining real wage, & declining unemployment "Although unusual, such conditions are not unprecedented." @IMFNews We are clear, right, that this IS Keynes's base scenario for recovery in GT …
Wrapping my head around @IMFNews WEO Oct '22 chapter on (non-apperance of) wage-price spirals. If I read them right @IMFNews favors stamping on monetary policy brake hard not to stop wage-price spiral developing but because there is NO wage price spiral -> fear real wage losses. https://t.co/4npPzgw424
"Given that inflationary shocks are originating outside the labor market, falling real wages are helping to slow inflation, and monetary policy is tightening more aggressively, the chances of persistent wage-price spirals emerging appear limited" THANK you @IMFNews WEO Oct 22 https://t.co/kyAL88mQAM
RT @taydolven: Buenos Aires and Boston subways were born in the same era. But more than 100 years later, one is safe and reliable. The othe…
In terms of ability to vaccinate pop against a major pandemic, the world right now bifurcates. There is Africa and there is ROW and Africa is the big driver of demographic growth for next 50 yr. How is this inequity of public health access sustainable? imf.org/en/Publication… https://t.co/yvALyDwkfV
Are mark-ups driving inflation? @IMFNews does not think so. Mark-ups have fallen since 2020 & high mark-up firms have tended to absorb cost increases rather than push prices. Frm WEO Oct 22. Would love to read pushback on this research if there is some. imf.org/en/Publication… https://t.co/ZAsjXfY3XB
If ability to vaccinate pop against a major pandemic is meaningful test of state capacity & overall development, then world right now bifurcates. There is Africa and there is ROW AND Africa is the big driver of demographic growth at least for next 50 yr. imf.org/en/Publication… https://t.co/Cy67gAlFrq
RT @DEHEdgerton: Me entrevistó @LouisCatheu sobre la crisis económica y política que vive el Reino Unido legrandcontinent.eu/es/2022/10/14/…
@Gooseberry62 @yarbatman Abundant data on contraceptive use which implies agency. Abundant participation by women at all levels in the family planning apparatus, which helps to explain its success.
@dschnaepp Natuerlich … und tbc was hier gerollt wird, ist nicht die "bedeutungslose Welt", sondern man selbst.
RT @xruiztru: #OnThisDay 1934, the embattled Chinese Communists break through Nationalist enemy lines and begin an epic flight from their e…
GREAT thread this expanding on my latest Chartbook Newsletter #161 on Iran's spectacular demographic transition in the 1990s-2000s as backdrop to current tension. adamtooze.substack.com/p/chartbook-16… Thank you @yarbatman for engaging with my stuff. I learn so much. twitter.com/yarbatman/stat…
RT @yarbatman: 5. When growth stopped in 2012, Iran could no longer be either a distributive state or a development state. The social contr…
RT @yarbatman: 3. Djavad Salehi-Isfahani's work focuses on how the Islamic Republic has been torn between two models. It could be a distrib…
RT @yarbatman: 2. Iran should have been able to borrow much more in the post-war period. But a tightening US primary embargo closed the doo…
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