Discover and read the best of Twitter Threads about #economy

Most recents (24)

#rbigovernor Press meet pts:
- MPC advanced its mtg, evaluated macro economic conditions
- Voted for a 75 bps repo rate cut, 4-2 majority
- 5.15% to 4.4%,
- Reverse Repo rate reduced by 90 bps to 4%
- done this imbalanced cut for banks to support lending

#economy #Markets
Contd.
- Need to support growth considering economic conditions
- Will fight #COVIDー19 with measures available
- RBI is at work and in mission mode, monitoring financial conditions, will provide additional liquidity support
- will work for financial stability

#rbigovernor #RBI
Contd.
- FY20 GDP estimates given by CSO is at risk 🙄
- To contain intensity, spread of #CoronavirusOutbreak
- FY21 estimates at great risk
- Risk factors: Supply chain disruptions too high, upside growth impulses through fiscal & monetary policies
- Food inflation to soften.
Read 12 tweets
The #coronavirus #pandemic/#panic has already fundamentally changed our society and #economy. We're already seeing #quarantines along with #unemployment, #bankruptcies, and empty shelves in stores. And we see how entire states are being shut down as government asserts they know
which businesses are 'essential' and thus may operate and which are 'non-essential' and therefore forced closed. Whereas this obviously will cause enormous economic problems, let's take a look at what is actually going on. We are not only in the midst of a virus pandemic, but
also a major economic shift: from industry to information. Such shifts can happen smoothly, but government's actions are forcing the shift and disrupting all industries--uprooting the traditional employment model and creating a gig and work-from-home economy. Part of this is the
Read 13 tweets
#Germany approves €1.2 trillion aid package, e.g.

-€3bn for hospitals
-basic support w/o income test (for 6m) for all in need
-no evictions (private/commercial properties; electricity water internet guaranteed)
-cash payments* for SMEs: €9.000 (<5staff), €15,000 (<10staff)
(*do not have to be paid back)
-larger companies access interest-free loans (KfW)
-(part-)nationalisation of companies threatened by bankruptcy permitted (temporary)

#coronavirus #economy #lockdown
#recession
Better summary (via @BrexitBin)

#Germany #coronavirus
Read 4 tweets
We are being feted by #ideological #purists who pretend that they would never want the American economy restarted until the risk that a single life will be lost is reduced to zero.

Maybe you're a purist as well?

Well, maybe you are, but maybe you aren't.
Have you ever benefitted from the transshipment of goods through the #PanamaCanal?

Did you ever benefit from power generated by the #HooverDam?

Then you are feasting on the remains of the human life cost of construction.
Yes, you have enjoyed the #cannibalization embodied in risks related to the #construction of dams, canals, buildings, ships, roads, etc.

So how many lives is your front porch light worth?

Take a look to get an idea:

slideshare.net/damfirm/the-hu…
Read 7 tweets
MAR 24 #COVIDー19 #MDTHREAD 1: tinyurl.com/se479vy
TODAY's #US Numbers as of 10:58 AM
CASES 50,212 DEATHS 606..
#Recovered 333 (see Importance below)
By Rick Noack, Lateshia Beachum, Kim Bellware,
Marisa Iati, Siobhán O'Grady, Adam Taylor and
John Wagner
10:51 a.m. PDT
MAR24 #COVID19 #MDTHREAD 2: Here from my AM MD Threadlet.. SOMETHING POSITIVE about it all..
The Importance of our #RECOVERED
tinyurl.com/ty32gxb .. with #Immunologic data from @NAChristakis .. LINK in my TWEET 1.
Please read esp #Medicals who will understand. @maddow @CNN
MAR 24 #COVID19 #MDTHREAD 3: Here is link to Yesterdays's MAR 23 ...36 TWEET THREAD..

tinyurl.com/s2x2ffx
AND ICYMI: Last WED. March 18 #US NUMBERS...
Read 32 tweets
MAR 23 #COVIDー19 #MDTHREAD 1: Most stories from WaPo tinyurl.com/r8uqf9b .. but not all. Two Today on #MAGA #Trumps preferred Treatment ( it usually kills faster than COVID) and Are you Immune if recover? FIRST NUMBERS 351,731 Deaths 15,374
MAR 23 #COVID19 #MDTHREAD 2: and here is link to yest thread on Thread Reader tinyurl.com/yx43ru4p .. with piece on #Croatia Earthquake. Sharing #London #Volunteer .. do consider Meals need delivery, patients in #FieldHospitals need moving. WASH YOUR HANDS Wear gloves outside
MAR 23 #COVIDー19 #MDTHREAD 3: @Surgeon_General begged Americans to #stayhome while warning that the situation is “going to get bad” in the coming days — #Trump seemed to suggest that containment measures may be too extreme... ? Calls for #MAGA revolt? PICK YOUR POISON..
Read 36 tweets
Thread-

This is how E.U reacts #economy #CoronaOutbreak !

#German Govt is making up to €500bn in loans available to companies who are hit, these companies can now defer payments worth billions of euros in tax payments, will compensate workers who r sent home by their employers
#France promised unlimited budgetary support for companies and employees affected by #CoronaOutbreak—that will cost €45bn, will pay laid off employees, arrange €300bn of French state guarantees for bank loans to businesses & €1tn of such guarantees from European institutions.
#Italian Govt passed a decree earmarking €25 billion,
one-off payments of €500/person for the self-employed, govt support for companies paying redundancy payments to their staff, a freeze on any worker lay-offs, and a cash bonus for Italians still working during the lockdown.
Read 9 tweets
[TREAD]
On a more +ve note here are some indirect benefits of COVID-19 (a parallel perspective):
- Lesser traffic, lesser air and noise pollution, better for those looking to solve climate change
- Space is good for everyone, and you just got your long desired relaxation break
- Higher purchasing of products from food and grocery stores thereby stirring up the local economy. Also rotating out older inventory and making room for new inventory
- Understanding about the kind of work you do and how unnecessary working at an office really is
- (on a similar note) Realizing the importance of F2F meetings over audio/video calls for discussions, negotiations and deal-making
- Higher standards of hygiene
- Cost savings for everyone as a result of less commuting
- More family time
Read 7 tweets
Lets talk about #Global #CentralBanks and their #MonetaryPolicy stances given #COVID19. Specifically, lets ask ourselves: "Can Central Banks Help Fight COVID-19?"
The best place to start is to note that #Global #Growth was already facing considerable downside risks before the #COVID19 outbreak December 2019. The slow down in global growth came on the back of trade (china vs. us) and geopolitical (Brexit etc.) tensions...
To this end, institutions such as the #IMF & #WorldBank revised down their 2020 #Economic #Growth outlook & emphasised the need for a more coordinated #policy approach between #monetary & #fiscal policy around the globe to "rescue" growth from the doldrums...
Read 14 tweets
MAR 16 #COVID19 MD THREAD 1: REMEMBER these are just NUMBER of POS #Tests and we can't TEST in US Right @VP #Pence and local transmission is on the rise in many places, especially Europe and US.
#China's @JackMa sent FLIGHT off to #US 3 hours ago with #TestKits see next tweet.
MAR 16 #COVID19 MD THREAD 2: A HUGE TY to @JackMa. .TWEETED 8:09PM SUN PM The first shipment of #masks and #coronavirus #testkits to the #US is taking off from #Shanghai.
All the best to our friends in America.
PLS Tell us when you get one.
MAR 16 #COVID19 MD THREAD 3: “When you look at the projections, there’s every chance that we could be #Italy,” @Surgeon_General warned Mon. Widespread #socialdistancing could help change that trajectory, he said.
SEE @MartyMakary ARTICLE tinyurl.com/ue955r4 @maddow @CNN
Read 44 tweets
The world leadership has failed!
Yes failed!
Closing of Shops, Malls, Cinemas, Schools, Colleges, Businesses effectively endorsing Leaders don't trust on #Science, #Hospitals, #Doctors #Therapies.
Don't trust #China, they cured patients because they bio-engineer #COVID19 @POTUS
If World Leaders close all, how will people know that once closure is undone, virus will not attack or some other bio-war will not attack, what will you do then, close again?
If trust science, leaders have to face this bio-war not in close doors but with open mind, @BorisJohnson
If closing of borders is a solution then #Italy will have less patient,
No, Don't close borders, let people interact, know each other, find & try alternative therapies, closing of borders, closing of businesses means closing of economy.
@narendramodi who will suffer?
People..
Read 6 tweets
I want to re-iterate one point.

It's UTTERLY useless to fight the global economic crisis put in motion by the #CoronavirusOutbreak .

Here's why. Thread.

First, as we know, #COVID19 hits the supply-chains. No amount of fiscal stimulus will fix them.

And, #China leads. 👇 1/
As insightfully noted by Z. Pozsar and J. Sweeney, “supply-chain is a payment-chain in reverse”. This is the part that governments can do something.

But, gov. support for households and students, will NOT fix payment issues of corporations caused by supply chain problems. 2/
Most importantly, no amount of money will cure fear and quarantines, which seriously dampen consumption.

This is NOT a short-term issue.

So, any fiscal stimulus enacted now, will just add to the burden of highly indebted governments WITHOUT fixing the underlying issues. 3/
Read 9 tweets
It is time for one long #Coronavirus update. I have been resisting doing this as (1) I do not want to add to the hysteria & the panic & (2) I don't believe in doomsday predictions. Moreover, things have been moving so fast, who knows what's what. BUT it's time for real talk...
Overall, #Coronavirus (the outbreak of #COVID19) is REAL. The effects on your daily life from the fallout will be REAL. The impact society, economics, & politics in 2020 will be severe & REAL. None of this is Fake News. None of this should be downplayed. (2/
People who are trying to silence REAL discussion are doing a disservice to the public interest. This is a 9/11 & 2008 level event in terms of its impact on domestic & international dynamics. This thread is not about creating panic but encouraging a smarter response. (3/
Read 64 tweets
Guy at BSNL office was worried over his personal issues, started talking to me on his own, about lay offs, privatization, future of LIC, a lot. Said govt unable to control but later said, 'look at Pakistan, they've to mortgage all, even roads, we're much better' #Media #Narrative
He was explaining to me that in India, we're yet to sell railways but in Pakistan even 'roads sold' to keep the country's economy afloat'. Must have picked up from channels. So this comparison always makes people content, 'unse behtar hain', without stepping foot out of India.
This is the super narrative--comparison has to be with Pakistan, look at how others have sunk & we are still not doing badly. Even within locality it happens, people are sometimes more jealous about neighbour's accomplishment. So playing on these emotions. Truly amazing.
Read 6 tweets
People who think that @BernieSanders gets us closer to @AndrewYang's vision for America don't actually understand Yang's vision for America: A Thread

#YangGang #EndorseUBI
#Bernie2020 #NotMeUs

(1/16)
First of all, #Yang wants a unified America. One where there isn't a huge political divide and so much hate and conflict. He doesn't alienate anyone.

#Bernie is incredibly divisive and angry and will only cause tensions to rise if given the nomination or the presidency.

(2/16)
The #FederalJobsGuarantee goes against Yang's vision because #Yang wants to redefine work in an age where jobs are being automated away and where work that has intrinsic human value isn't being recognized by the market.
#FJG#UBI.

(3/16)
Read 16 tweets
[Thread]
South Africa’s economy slipped into its 3rd #recession since 1994 in Q4:2019, shrinking by 1,4%. This followed a contraction of 0,8% in Q3.

#StatsSA #GDP #economy
7 of the 10 industries contracted in Q4:2019. Transport and trade were the main drags on overall activity. Finance, mining and personal services registered positive growth.

Listen here for more: bit.ly/2vpxFx2

#StatsSA #GDP #economy
The primary sector declined by 0,4% in Q4:2019. #Agriculture experienced its 4th consecutive quarter of negative growth, falling by 7,6%, while mining growth was driven largely by platinum group metals, iron ore & gold.
Listen here for more: bit.ly/2vpxFx2
#StatsSA #GDP
Read 10 tweets
>>> viruses can also transmit through the eyes and tiny viral particles, known as aerosols, can still penetrate masks.
!!! it is possible to be infected with shorter interactions or even by picking the virus up from contaminated surfaces,,,
Read 15 tweets
Many are calling for a rate cut on the #Fed, but there's very little central banks can do at this point.

A thread on, why #centralbanks will be unable to stop any repercussions from the #CoronavirusOutbreak .

We naturally start with the balance sheets. 👇1/12
Which are just massive.

The very role of any easing (quantitative or normal) is to push interest rates down.

In addition, it was the purpose of QE -programs to also create a "wealth effect", by increasing the values of financial assets and making people feel "rich". 2/
We detailed the channels of effects of QE programs in the Q-Review 1/2018. 👉gnseconomics.com/wp-content/upl…

Even today, the effects are not understood by all, but they depend heavily on the ability of the programs to push down (converge) the yields of bonds in different classes. 👇 2/
Read 13 tweets
Over the last 12 months, @isabellasaund and I have had the privilege of working with @socprogress to develop Australia's first Social Progress Index. amplify.csi.edu.au/social-progres… @CSIsocialimpact
@isabellasaund @socprogress @CSIsocialimpact Why measure #socialprogress? We live in a country that prioritises economic growth and #GDP over pretty much everything else. The logic goes that if economic progress increases, so should social progress.
@isabellasaund @socprogress @CSIsocialimpact But we know that's not the case - we know that the mining boom, while contributing to 28 years of unprecedented economic growth, has also had ongoing impacts on communities and the environment where mining companies have now left.
Read 25 tweets
The 1st Emperor of unified China,Qin Shi Huang(221–210 BC),sought to prevent critical comparison with pr. rulers by removing all historical & philosophical texts from private hands & placing them in the imperial library,where only officially approved scholars had access to them/1
/2-Source:"The Secret World:A History of Intelligence" by C.Andrew
Provides an indication why Nazis burnt books and took control of Universities. Also a pointer why the present #BJP Govt. is obsessed about infiltrating Universities,controlling discourse via lakhs of WhatsApp grps
/3 ...having an extremely well oiled Propaganda machine across the Media & Fourt Estate that extolls the 'virtues' of the present totalitarian regime and cast aspersions on all regimes of the past primarily Nehru's-Nehru gets attacked more than Jinnah or Yahya Khan-as we become..
Read 6 tweets
This is a topic we raised in September 2017, but I haven't commented this for a while.

Thus, I think it's good time to remind all, why we have experienced so nascent recovery from the GFC.

A thread on why global growth has waned.

We, naturally, start with this. 👇 1/
Global productivity growth stagnated in 2012. This is something that should not happen outside major crises, as shown in the figure above.

So, what's going on?

We dealt with the topic extensively in the March 2019 issue of our Q-Review. 👇2/
gnseconomics.com/en_US/2019/03/…
Already in June 2013, we warned that:

"It is possible that the banking sector and the world economy were saved by using too strong methods in 2008. As a consequence of this, it is also possible that the world economy is more like zombie economy, where... 3/
Read 17 tweets
It seems like a good time to remind everyone, why we are heading into an economic crisis.

A thread on the fragility of the global #economy.

There, naturally, is no other place to start than this.👇 1/
@CNBCJulianna @KellyCNBC @SaraEisen @GeoffCutmore
Yet, everything begins from the GFC.

Like we noted in a blog published on the 10th anniversary of the failure of Lehman Brothers, very little has actually been fixed in the global financial system.👇 2/
gnseconomics.com/2018/09/14/10-…
While the US banks are now bigger than before 2008 crisis, the biggest problems lay in Europe.

The European banks remained under-capitalized and filled with toxic assets, and the policies of the #ECB made everything worse. 👇 3/
gnseconomics.com/en_US/2019/10/…
Read 14 tweets
A lot of talk about the economic effects of the #COVID_19 . There are still those hoping for a quick (V-type) recovery.

In this thread, I'll try to be as detailed as a macroeconomist can be in explaining, why this is very unlikely.

But first, please remember this. 👇 1/
Second thing to note is:

"In this situation, it won't be feasible to adopt a proactive fiscal policy by expanding the fiscal expenditure scale."

By Finance Minister Liu Kun. 2/
globaltimes.cn/content/117974…
The above statements should not be disregarded lightly.

Similar statements, given at the start of the Chinese deleveraging in early fall 2017, indicated that the deleveraging had truly started. 👇 3/
gnseconomics.com/en_US/2017/10/…
Read 12 tweets
1. Finance Min Nirmala Sitharaman’s claim that the Indian economy is witnessing “green shoots” of recovery is a “problem" & #EconomicSlowdown is here to stay, India's former chief statistician Pronab Sen told me in this interview.Key points in this #Thread bit.ly/3bIlrjd
2. Last week, FM Sitharaman said Indian economy was "not in trouble" & there were "green shoots" of recovery citing good numbers from 7 economic indicators, including high FDI & #GST collections. Few days later, 2 key indicators showed poor numbers bit.ly/3bIlrjd
3. Consumer Price Index (CPI) in Jan '20 was @ 5 year high of 7.59% & Index of Industrial Production (IIP) in Dec '19 fell to -0.3%, taking sting out of FM Sitharaman's claim of "green shoots". Thus, here, Sen cautions against using such exaggerations: bit.ly/3bIlrjd
Read 15 tweets

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