THREAD: the fight after the next will be trying to keep politicians sane, assuming they will see reason between now and that point in the future. #GreenNewDeal #ESG #italy #COVID19 (1/10)
What you see above is the environmental effect of bringing my poor country's productive private economy, slowly moving forward on all four since 2008, to a screeching halt. It is also the avowed objective of #EUCO before this balloon went up.(2/10)
Now admittedly this was a bit sudden: a decade of future economic repression in ten days doesn't happen often. But do not expect the effects in terms of dislocation to be much milder or different. Politicians blush when you ask for cost benefit analysis. @CarloStagnaro (3/10)
Yet since the stranded assets invested so far, in terms of taxes and resulting public employment (and mind you, if you work in RE you are a public employee) make sure that a big battle will come in summer.(4/10)
After the body count the accountants will come in, and the 14 billion spent annually to keep solar panel and windmills happy for Greta will look like a fat target to the shop owner government is hitting for cash for the third time in a month. (5/10)
knowing that, government will start a propaganda s***storm while the welds in the caskets are still warm. That will be one of many bones of contention, but this is existential because they will have a powerful ally.(6/10)
The financial community will look at the wreckage wrought to savers and try to salvage a reputation (and income stream) out of that. Banks in particular might be asked why they posed as gatekeepers of saver risks on things they are legally forbidden to own (equities) (7/10)
Enter #ESG. that has no bearing whatsoever on performance, but it takes an inordinate amount of admin time that savers can't afford and are not interested in. It also helps biggies against new entrants, as all fixed costs do. (8/10)
so the media campaign to make #Greta great again will be literally bankrolled big time. it's a win-win for government. They want to never be forced to say this John Lovitz quip: (9/10)
in that, they've been lucky that this is not the usual "rise from below" disaster, like an earthquake. Pandemics put a premium on dictatorships, which suits all bureaucrats just fine. You don't want citizens organizing.
