Since a lot of my compatriots seem to have forgotten just why it was we where all so desperately eager to join NATO in 2004 and the EU in 2007, I figured I'd do a thread comparing Romania today with the "sovereign" Romania of 2003, the pre-EU, pre-NATO one.
China has the capacity to make 50m cars a year (an insane number, global demand is around 90m cars) -- 20m EVs and at least 30m ICE cars (capacity before the EV boom was 43m ICEs). Internal demand is for less than 25m cars.
4/
Thirteen years ago Micheál Martin called on Michael Lowry to resign from the Dáil after our highest from of public inquiry found his actions to be "profoundly corrupt" to a "breathtaking degree".
The bubbles on the left are US publicly traded companies that are less than 50 years old with a market capitalization of $10B+. The bubbles on the right are the same but for the EU.
Great visual from @amcafee's newsletter.
Before taking on my new job as the FT's European macro man, I was convinced that complaints about Germany's broken economy were mostly business lobbyists' propaganda. I now looked at the facts in detail and am utterly shocked. https://t.co/DjcvrTpCOu
Angela Merkel's memoirs are out next month. This week's Charlemagne revisits her legacy. She led Germany - and thus Europe - as if in a make-believe world, letting it enjoy an extended geopolitical and economic nap from which it still needs to wake up.
https://t.co/wNsXGhMNCM
Countries with the highest GDP per capita in the world and their Actual Individual Consumption per capita (International Comparison Program 2021) https://t.co/Y1xyJ00dQf
FT asks: "Can Europe’s economy ever hope to rival the US again?"
A reminder that once you strip out population and dollar strength (which doesn't impact living standards in Europe), countries in the EU are *converging* with the US, not falling behind. https://t.co/HJ2Qyb2tqo
Delighted to speak for @ericsson at launch of @lseconsulting report with @leemakiyama @Meta as metaverse will be built on our 5G technology Metaverse4Europe - Unleashing European Innovations for the Metaverse. Metaverse https://t.co/UR3OOxF3Nr
Here is the forest cover in France.
↳ 18th century vs. 20th century.
Population in France grew from,
30 million → 60 million.
Agricultural intensification is good.
↳ We should have more of it.
NEW: analysis of millions of books published over the centuries suggests western society is shifting away from a culture of progress, and towards one of caution, worry and risk-aversion.
I think this is one of the most important challenges facing us today.
Very big deal. Auten and Splinter’s work, which shows no increase in post-tax/post-transfers income inequality in the US over the last 60 years, is now published in one of the top peer-reviewed econ journals.
The picture below is from The Financial Times article on the topic.