😢Sudden #derecho winds just before soy & corn harvests in US midwest. Damage to farms alone (+bldgs, homes, power etc) means this could be a billion $ disaster

Reminder: Damage from climate extremes to US over last 5 years exceed the Pentagon's budget climate.gov/news-features/…
A sudden, straight ~400kms wall of hurricane speed wind & hail storm is just mowing down the US midwest. Hope ppl get safely indoors! #derecho chicagotribune.com/weather/weathe…
Terrifying sublime of Nature. A 400 mile front of storm clouds hurling down Lightning like there is no tomorrow. #derecho

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More from @70sBachchan

Apr 6
Damn this is good. Poszar may be the most creative thinker of our generation. We are going to argue that Poszar is offering Beijing a to-do list to solve their "Financial Malacca Dilemma". plus2.credit-suisse.com/shorturlpdf.ht…
Structure is uncovered from how shocks propagate thru a system:
Crash revealed NY-London centrality to Finance
Corona revealed Fossil-fueled 𝘴𝘺𝘴𝘵𝘦𝘮𝘴 that undergird world economy
Ukraine war? Commodities & Multipolarity

How will US & China respond?
adamtooze.substack.com/p/chartbook-10… Image
"as @PMehrling taught us, always & everywhere, finance is hierarchical, & as @KatharinaPistor taught us, the laws the underpin the hierarchy of finance are flexible at the core & rigid at the periphery"

Crises has stated on periphery with commodities...
plus2.credit-suisse.com/shorturlpdf.ht… Image
Read 21 tweets
Apr 5
Thesis: IPCC report,‘now or never’ if world is to stave off climate disaster carbonbrief.org

Antithesis:Russian gas flows on pipelines to Europe remain steady reut.rs/3x4H4qY

Synthesis: Andreas Malm’s Anti-War, Anti-Carbon @MaxJerneck
Andreas Malm's 'How to Blow Up a Pipeline (2021)' is cursed with such an incendiary title that people think they get the argument without reading the book.

@kunktation review lays out the argument:
3/ " What does it mean that as capitalism has become truly global, the gravediggers it has created dig not only capitalism’s grave, but also that of much organic life on earth?”- Andreas malm
What must be done? What would Lenin do? lrb.co.uk/the-paper/v43/…
Read 9 tweets
Apr 3
There was a solution to the green problem but it involved deepening European-Russian relations. Crazy how we have terrible war because so many people keep Climate & Geopolitics in separate silos & are unable to do 'joined-up thinking'. #GeopoliticsOfGHGs
We'll never know if West-Russia negotiations were done in good faith. December-January 2022:"German Economics Minister Robert Habeck wants to engage Russia economically by cooperating on renewable energy supplies to help de-escalate tensions over Ukraine"
Read 5 tweets
Mar 10
Global food emergency needs institutional response to procure & distribute.
"During World War I, the Allies faced a similar problem: Shortages for key goods were being exacerbated by uncontrolled international competition on private markets" nytimes.com/2020/04/15/opi…
Russian and Ukrainian wheat as important to rest of world as Ru oil and gas are to Europe. Having no plan for alternatives is recipe for sociopolitical instability in both. Its why many countries in Asia & Africa abstained from UN vote to censure Russia.
Rising food prices in each country are NOT just because of blockades of Russian and Ukrainian wheat, but also driven by speculation in deregulated commodity markets hsgac.senate.gov/imo/media/doc/…

Just as with Vaccines,this is not the time to let Markets decide
nytimes.com/2020/04/15/opi… Image
Read 32 tweets
Feb 28
If there is any point to Putin 's nuclear brinksmanship and West's sanctions escalation of weekend, it is to bring everyone to the negotiating table! Thread on the HARD next phase of sanctions relief and economic+security deal that West-Russia can live with.
Not looking forward to nuclear winter. Hope sense prevails and West exchanges stoppage of war for pulling back sanctions. Punishment of russia's economy/people and talk of regime change in Moscow only fuels escalation towards MAD
Please, please don't push for a No Fly Zone. Its MAD
"I want to remind those proposing it a "No Fly Zone" would be an act of war against Russia which would result in the complete destruction of Ukraine: its churches, its people and its millions of lives."
Read 18 tweets
Feb 28
1/ A hot war, a financial war, & nuclear M.A.D...

A question to zoom out: Did high energy prices embolden Putin? Are the commodities markets responsible for Russia’s invasion of Ukraine? @rupert_russell’s timely new book 'Price Wars' says: YES.
penguinrandomhouse.com/books/622647/p… Image
2/ Moscow’s military interventions have come at times of historically high oil prices. And right now, energy prices are approaching triple digits for the second time in a decade. Previous highs:
1979 - Afghanistan invasion
2008 - Georgia invasion
2014 - Ukraine "
2022 - Ukraine " Image
3/ The Oil price - Conflict relationship is not unique to Russia. Russell draws on @cullenhendrix’s discovery that as oil prices increase, oil exporting petrostates are more likely to initiate military conflict. sci-hub.se/https://journa… Image
Read 6 tweets

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