After World War II both Greece and China suffered dramatic hyperinflation. @mbensass did a newsletter about the Greek case grecology.org/p/macro-roundu… I did one on China 1937-1949. adamtooze.substack.com/p/chartbook-ne… Now we need someone to do Hungary! https://t.co/f54CHbDmI0
I just subscribed to Grecology Marcus did a great post on the postwar Greek hyperinflation inspired by my newsletter about China 1937-1949. grecology.org/?utm_medium=we…
Balancing the claims on West Germany’s national income in the early 1950s took a minor miracle of statecraft both in Bonn and Washington DC. The famous 1953 debt deal was a key part of the bargain but only part. academic.oup.com/past/article/2… https://t.co/pJkTGYPICC
“It boils down to policy and political will. We expect to see the hydrogen business and carbon capture and storage to kick off after 2030.” Equinor is betting on the transition. ft.com/content/84be92… https://t.co/brSqu6nsYJ
If priority for Xi’s regime in China is food security, this puts a limit on the extent to which labour can be shed from agriculture -> constrains productivity enhancing shift of labour from agri to urban employment. @andrewbatson on an interesting thesis. andrewbatson.com/2021/07/12/foo… https://t.co/WJiLUAdKDR
The Canadian-US frontier is emerging as a frontline in decarbonization battles over pipelines, the future of Canada’s oil sands industry and carbon capture. ft.com/content/5d8c12… https://t.co/mVSkhmkME8
Electrification: A study by the UK’s Climate Change Committee predicts that electrification of the country’s economy, including widespread adoption of EVs, could lead to a doubling of annual demand, from 300 TWh in 2019 to 610 TWh by 2050. ft.com/content/abc3b3… https://t.co/wsfjt80sWV
What is the Green New Deal? For a proposal that has transformed US debate about climate, the weird thing about the Green New Deal is its lack of clear agreement on key specifics. @yayitsrob theatlantic.com/science/archiv… https://t.co/SWkewWcus5
Fossil fuel companies worldwide have slid out of the ranks of investment grade corporate debt. ft.com/content/63297d… https://t.co/BparGquiCj
"What Joe Biden can learn from Richard Nixon’s playbook" @matt_illo image to go with @RanaForoohar piece is enough to make you choke on your cornflakes! Its actually all about 1971 and the decision to abandon Bretton Woods. More on that … ft.com/content/ca4a8a… https://t.co/kXCNJBM8Eo
In the past two years, credit risk for coal increased by over 30 per cent. For oil and gas firms the increase was even more dramatic! ft.com/content/63297d… https://t.co/t2l3lOV9NF
The IEA’s road map for net-zero emissions by 2050 called for a 6 per cent decline in coal-fired generation annually. Yet coal will grow by almost 5 per cent this year, and another 3 per cent in 2022, hitting a new peak ft.com/content/63297d… https://t.co/tVV5i6yQVC
The surrealist images of Fortune illustrator and wartime artist John Atherton really fascinate me! fulltable.com/vts/f/fortune/… https://t.co/IsxebOf74m
Adjusting military spending figures for Russia and China to PPP terms makes a lot of sense. It doesn’t change the picture altogether but it does substantially narrow the gap to the US. warontherocks.com/2019/12/why-ru… https://t.co/rC7isZaDXx
China’s banks are state-controlled institutions. Helps explain why they, unlike everyone else in world, have been borrowing in yuan to invest $1.2 trn in lower-yielding foreign currency assets. The @M_C_Klein Overshoot newsletter is essential reading! theovershoot.co/p/understandin… https://t.co/KbsiiL6PD8
RT @DeAngelisCorey: 41% of Baltimore public high school students earned below a 1.0 GPA this year
Only 3 % of AfD Bundestag members and half of Die Linke are vaccinated! twitter.com/JulianRoepcke/…
BoJ ill offer zero-interest loans to lenders that finance climate change projects. Banks will also be able to reduce the amount of deposits with the BoJ that are subject to a negative interest rate. @DanielaGabor ft.com/content/1e987e… https://t.co/NgOCrNUR6f
If West Germany came to terms with the Nazi past it was not a consensual or easy process. There was conservative resistance all the way. If that was overcome, much of the credit is due to the indomitable Fritz Bauer. twitter.com/IlkoKowalczuk/…
Over 1/2 of assets on PBOC balance sheet are forex. Counterpart are domestic reserves, currency etc. What if forces driving fx holding are at odds with adjustments necessitated by domestic econ conditions? Great explainer in @M_C_Klein newsletter! theovershoot.co/p/understandin… https://t.co/Scv7Ote8CT
Draconian measures proposed by BJP in India’s largest state UP put polemical spotlight on Hindu v. Muslim birth rates. Data say it is all about development not religion! timesofindia.indiatimes.com/india/state-ke… https://t.co/BQ8eeX4tcL
Global vaccine imbalance: S Africa has the most glaring imbalance btw COVID cases and vaccinations, followed by Peru, Panama, Colombia and Argentina! Important data from @ThinkGlobalHlth thinkglobalhealth.org/article/politi… https://t.co/3lNuAy2N0V
"Between them, Mr Trump and Mr Biden have engineered the most dramatic break in American foreign policy in the five decades since Richard Nixon went to China.” @TheEconomist economist.com/leaders/2021/0… https://t.co/ki9fW4osk9
In 1960, Indian women had nearly 6 children each. By 2020, this was down to just 2.2 children. But ruling BJP egged on by RSS is worried that Muslim minority has more kids -> UP is proposing law to deny benefits to families with > 2 kids. ft.com/content/efda64… https://t.co/UOK91xgkRw
Lebanon’s banking crisis & currency collapse -> no business credit, no imports, surging prices, no petrol -> gov efforts at price and exchange control -> black market and smuggling of petrol to Syria where situation even more desperate. @ChloeNCornish ft.com/content/f9a781… https://t.co/jEJBGcS5dT
Latin America really isn’t receiving enough vaccine help! Great data this by @ThinkGlobalHlth @samckiernan thinkglobalhealth.org/article/politi… https://t.co/dn8sMkJMyx
China has just launched experimental carbon market covering 2225 largest power generators = 40% of Chinese emissions, 15% of world total = total emissions of the USA, 3 times the EU scheme. Currently permits are issued for free, but framework now in place. ft.com/content/3bcc23… https://t.co/bzv0KcBhOm
Collapse of Lebanese pound is disastrous. 2000 to dollar in July 2019 3800 April 2020 Today 23,000 — 95 per cent lower than the official exchange rate, which public employees’ salaries are still tied to. ft.com/content/0da8d8… https://t.co/bjebr8oSkT
RT @ummodern: Since the 2008 crisis Turkey’s export markets have been devastated, thanks to the German austerity in Europe and US’s massive…
Russia’s rail ambitions State-run Russian Railways is investing $17bn over a decade to carry not just passengers from Europe to Asia, but also grab a larger slice of the billions of dollars worth of goods that are transported annually from Asia to Europe. ft.com/content/571489… https://t.co/po2Lez3tak
RT @heimbergecon: "In Defense of Public Debt": I am very much looking forward to reading this book by Eichengreen and co-authors providing…
“Some 98 per cent of the transit cargo volume between Europe and Asia uses the Suez Canal. It takes 40-45 days. By railway across Siberia it’s twice as fast” ft.com/content/077643… https://t.co/yqq9waIcNW
Ericsson’s sales in China fell in second quarter from SKr4.1bn ($470m) a year ago to SKr1.5bn as a result of retaliation due to Sweden banning its Chinese rival Huawei from building 5G networks in the Scandinavian country. Wallenberg’s dont like it! ft.com/content/2a5969… https://t.co/hBuMWciteY
France is due to play a central role in leading negotiations on the bumper green package as Paris will take up the EU’s rotating presidency next year, coinciding with presidential elections. Macron, unsurprisingly, shellshocked by gilets jaunts! ft.com/content/883a67… https://t.co/0TvXZ2A0mc
EU’s green package, Fit for 55, has left some top officials infuriated by the way the internal process was handled, as they struggled to get their concerns taken on board -> further undermines credibility with national Govs and parliaments. ft.com/content/02d479… https://t.co/7KpAvhokbB
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