"The five western oil supermajors — Exxon, Chevron, Shell, BP and TotalEnergies — are together on track to generate well over $50bn in profits in the three months to the end of June." ft.com/content/13f820… https://t.co/YK0DcuNFlZ
“Holy shit,” Senator Tina Smith, a Democrat from Minnesota, wrote on Twitter. “Stunned, but in a good way.” ft.com/content/42e5b2…
RT @tedfertik: A savage post-mortem on the Democrats’ abject failure from @adam_tooze. adamtooze.substack.com/p/chartbook-13… Key points: 1. it was as…
RT @RobinBrooksIIF: Ukraine had to devalue its currency 20% last week. The economic plight facing Ukraine – it is battling currency crisis…
RT @RobinBrooksIIF: The Euro will fall far below parity. Russia's invasion of Ukraine is a hammer blow to the economy and German data are n…
RT @MacroAlf: Wealth inequality is a well-known and sad phenomenon, but this pyramid puts it even more in context 64% of the world's adult…
RT @SriniSivabalan: India's foreign-exchange reserves are plunging at one of the fastest speeds in the world. They have dropped $70 billion…
"if we put Berlusconi and Salvini close to each other, who prevails between the two in terms of competence, experience, culture and savoir-faire ? Come on, let's not joke. I am not at all pushed by Salvini: I am the center-right." Berlusconi on Berlusconi open.online/2022/07/21/cri…
"Everyone remembers that I took him to the top of the European Central Bank in June 2011, but now let's stop with this story that we were the ones who killed him and kicked him out of the government." Berlusconi on Draghi's fall. h/t @SMerler open.online/2022/07/21/cri…
@RobinBrooksIIF @SMerler Seriously, so helpful to follow someone like you revising their priors and offering reasons. THANK YOU @SMerler
"Manufacturing recession is here" @SoberLook thedailyshot.com/2022/07/22/us-… https://t.co/o5PPZ2yk7W
"A Silicon Valley C.E.O. told me that one appeal of boats is that they can “absorb the most excess capital.”" A half-billion dollar home would be grotesque, spent on a really big gigayacht it is more homey!!!!! newyorker.com/magazine/2022/…
Fascinating this on the lure of Texas for US business, the shifting demographics of the state, real estate prices & the compatibility of reactionary cultural politics with capitalist growth. ft.com/content/9399d1…
RT @ChollimaOrg: BREAKING: China's top chipmaker SMIC has successfully advanced its chip manufacturing by two generations and is now export…
RT @RobinBrooksIIF: One day after the 50 bps hike from the ECB, German manufacturing data are cratering. The forward-looking orders – inven…
RT @MacroAlf: There is nothing to be happy about a recession. But at least the silver lining is that a recession has always been successfu…
“This complex 27-member socialist (sic) union . . . is now ahead of the US by a solid six months.” Pat Gelsinger CEO of Intel on race btw EU and US to provide his company with multi billion $ subsidies. I KID YOU NOT! h/t @gilliantett ft.com/content/1dd8a7…
Surely EU can do better than demanding a blanket 15% cut in gas consumption provoking reversed slanging match about solidarity v. doing homework. 1. start by recognizing legacies and differences 2. assess relative economic position 3. offer a quid pro quo ft.com/content/cf84dd…
"we in Europe must save gas & that means even those that aren’t directly affected by the cut in gas supplies from Russia should help other countries. Otherwise, there is no European solidarity." Oh come now Robert Habeck you can do better than this! ft.com/content/cf84dd…
Ft front cover this morning is a trip: EZ recession, Russians using a nuclear reactor as a shield for missile launchers, Chinese bargainer hunters chasing nearly expired food, and planting forests not trees! https://t.co/ndLIYUApQ1
RT @heimbergecon: I did an interview on Italy for Austrian television (ORF), in which I point to the major myths that we hear all the time…
RT @jakekincer: Europe is restarting some coal plants to maintain energy security for their population. The emissions will be small globa…
Important that @MESandbu highlights decline in investment in G7. Great that he stresses politics. But shame that he reduces politics to priority of consumption and refusal to face inter-temporal trade offs. Austerity is hardly short-termist hedonism! ft.com/content/3a8731… https://t.co/48l1Xs0K0Q
G7 account for c $45tn in annual GDP. Restoring their investment ratios to 1970s rates would fill nearly half global shortfall to the $4tn the @IEA calls for in annual clean technology investment if we are to meet net zero by 2050. Great by @MESandbu ! ft.com/content/3a8731…
How Draghi walked into a trap. Very helpful this by @AmyKazmin ft.com/content/f5fd0e…
RT @mims: The most ominous thing any expert ever said to me about supply chains is that the pandemic was just a dress rehearsal for future…
RT @the_transit_guy: Four daily trips between Chicago and St. Louis take over 5 hours one way. Lyon and Paris are the same distance apart,…
@_TimBarker @tedfertik @bentarnoff @70sBachchan Also the use of the phrase "eliminations" in the Bloomberg report to describe redundancies or job losses.
RT @_TimBarker: @tedfertik @bentarnoff @adam_tooze @70sBachchan genuinely curious what auto is hoping to achieve with this framing https://…
RT @KeineWunder: Lösung: Wenn Zweifel an EZB-Einschätzung zur Tragfähigkeit der Staatsfinanzen aufkommen, kann der Europäische Rat ein Verf…
RT @RobinBrooksIIF: There's three kind of EM since Russia invaded Ukraine: (i) frontier markets like Egypt and Pakistan that suffered early…
RT @KeineWunder: So @FuestClemens actually believes that the ESM does not make discretionary decisions when imposing reform conditions on a…
"framing", "manipulation", "bad credit" – buzzwords for the German conservative reading of the TPI decision. twitter.com/NaumerOekonom/…
Precisely this from @PeterBofinger … the key to the TPI as @DanielaGabor @PhilippaSigl highlighted is precisely not to claim discretion for ECB, as reductive readings suggest, but to embed ECB judgement in a mesh of other non-monetary assessment of fiscal policy. twitter.com/PeterBofinger/…
"The ECB is claiming for itself the right to intervene in support of individual states on a more or less discretionary basis", like it or not, this reductive interpretation of the TPI IS going to gain influence in Germany. And that will be a (blunt) force to be reckoned with. twitter.com/FuestClemens/s…
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