As with London buses, you can wait ages for one war and then several come along. I've spent a lot of time in the past year and a half warning of a cascade of conflict and its likely consequences. A quick review:
Nobody talked about the release of real GDI today. It shrunk 2.3% SAAR in Q1 after a 3.3% Q4 contraction. Averaging it out with GDP, the economy has contracted for back-to-back quarters and in 4 of the past 5! The recession has arrived and nobody’s noticed.
Look, and do not turn away. Bakhmut is not just a line on a map. It was a city, full of life. Now thanks to Russia it is a smoking ruin, and who controls the rubble is not the point. This is terror that must be defeated. https://t.co/P27KxJZ6Wx
What a great publication day for #PowerAndProgress for me and @DAcemogluMIT
Thanks to everyone for your support — here's a quick message from us and don't forget you can, for the first time, purchase the book here:
https://t.co/ID7I6bsUMA
In Germany, American intelligence officer Richard Helms writes to his 3-year old son, Dennis, on Adolf Hitler's stationery: "The man who might have written on this card once controlled Europe... Today he is dead, his memory despised, his country in ruins." https://t.co/U022WmYlPi
Da meine Sätze zum intellektuellen Flirt mit dem Autoritären aus der Klimasendung von #Illner gestern Abend noch die Runde machen, stelle ich sie hier nochmal ein. @welt@Luisamneubauer
1/ 🧵Explaining economic trends is central to the Wall Street Journal's mission. This article about Russia's economy unraveling is the last one @evangershkovich wrote before his arrest for what Moscow claimed was espionage, which WSJ & U.S. gov't deny https://t.co/eobVQNpR22
Let's talk about Morocco and Canary Islands:
Today temperatures reached 37.4C at Taroudant in Morocco and 35.1C at Tazarte in Gran Canaria Island.
If you think this is way hot for March,wait for what it's coming in the next days
Both Morocco and Canary Islands could approach 40C
@D_Blanchflower and I have issued a press release on how we see the banking crisis developing. We think there is a very real contagion risk that central banks need to respond to very urgently with rate cuts over the next few days. The release is in the rest of this thread.
Most of us who went into finance in the 80s knew in great detail what happened in the 60s, 40s, 20s & even the 19th century. Some of us studied EVERY recorded past crisis.
We are seeing VCs & hotshots like my two recent preys who don't even know what really happened in 2007.
"The empire does not have the right to say that a neighboring country has no history." Another terrific post from @TimothyDSnyder https://t.co/oatFQ3y2CD