Röd öppning Red Opening 21 November 2023
“If I seem unduly clear to you, you must have misunderstood what I said.”
Appearing before a Congressional committee back in 1987, then-Chair Alan Greenspan famously said, “If I seem unduly clear to you, you must have misunderstood what I said.”
I detailed in my 2016 book on central banks, The Only Game in Town, that this was part of what Greenspan called a “language of purposeful obfuscation.”
It was regarded, to quote the economist Alan Blinder, as a “turgid dialect of English” that used “numerous and complicated words to convey little if any meaning.”
Mohamed A. El-Erian
https://www.bloomberg.com/opinion/articles/2023-11-20/federal-reserve-officials-talk-too-much
"Those of us who have looked to the self-interest of lending institutions to protect shareholder's equity (myself especially) are in a state of shocked disbelief,"
Greenspan in October 2008
asset prices bubble bubbles Alan Greenspan (internetional.se)
De utsläppsnivåer som i nuläget förväntas år 2030 måste minskas med minst 28 procent, eller 16 miljarder ton, för att vara någorlunda i linje med en uppvärmning på 2 grader.
Om uppvärmningen ska begränsas till 1,5 grader krävs en minskning med 42 procent, eller 24 miljarder ton.
https://www.dn.se/varlden/utslappen-okar-varlden-pa-vag-mot-3-graders-uppvarmning/
China’s carbon emissions have either peaked already or will do this winter, seven years ahead of schedule. They may plateau for a year or two but will then go into exponential decline for mechanical and unstoppable reasons.
The country’s target of net zero by 2060 is likely to be achieved a decade earlier than previously assumed, and perhaps earlier than in Europe.
This is a remarkable turn of events.
Ambrose Evans-Pritchard
China’s CO2 emissions may be falling already, in a watershed moment for the world (telegraph.co.uk)
Under två år har maten blivit 26 procent dyrare
Under samma tid har den allmänna prisökningen, inflationen mätt som KPI stigit med 17,5 procent.
https://www.dn.se/ekonomi/matpriserna-har-blivit-25-procent-dyrare-pa-tva-ar/
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t’s hard to overestimate the potential impact of Wednesday’s dramatic judgment by the Federal Constitutional Court,
both on Germany’s longer-term fiscal policy and the continued existence of Chancellor Olaf Scholz’s fractious three-party alliance.
A former finance minister under Angela Merkel, the Social Democrat chancellor is deeply involved in the effort to find a solution that respects the ruling in all its complexity and is legally watertight against future challenges, according to the people.
Coalition officials have set themselves an unofficial deadline to reach an agreement by Thursday noon at the latest, the people said. Lawmakers are due to meet immediately after that to put the finishing touches to the 2024 federal budget and solve any issues for this year’s finance plan, they added.
The repercussions of Germany’s top court striking down a domestic budgetary manoeuvre will spread to EU politics
https://englundmacro.blogspot.com/2023/11/rod-oppning-red-opening-18-19-november.html
This month, China’s new finance minister Lan Fo’an told markets what they had been waiting to hear — Beijing would boost budget spending to support a struggling post-pandemic recovery in the world’s second-largest economy.
But while the message was welcomed by investors, many analysts question just how much budgetary firepower Beijing really has to boost flagging confidence and drive stronger economic momentum.
China is reluctant to increase leverage as it did after the financial crisis in 2008, when it unleashed a Rmb4tn stimulus then worth 13 per cent of gross domestic product
https://www.ft.com/content/1dfcdec4-b0fa-4569-a70c-387172a3c241
Världens mest googlade varumärke förra året var ”Shein”.
Och att du eventuellt inte har en aning om vad Shein är spelar ingen roll för deras affärsmodell.
Det betyder bara att du antagligen är över 30 år gammal
Klädproduktionen i världen har dubblerats sedan år 2000. Vi köpte 60 procent fler plagg år 2014 än vad vi gjorde år 2000 och behöll kläderna hälften så länge.
Katrine Kielos-Marçal
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