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Albert Pinto Profile picture
@70sBachchan
Aug 15, 2020 • 6 tweets • 4 min read • Read on X
1/ Like Anthropocene risk specialist Mike Tyson said - Everyone has a plan until they get punched in the face.

2020 would be a blaring climate emergency if it weren't for the pandemic. Nature does not stay at home. All in one week in the US. ⬇️
2/ 10+ day long heatwave predicted in California & Western US states. Heat+humidity kills elderly ppl; It's as dangerous as the virus & requires cooling & social care. Already, wildfires & electricity blackouts for millions. weatherwest.com/archives/7427
3/ A straight ~400kms wall of hurricane speed wind suddenly formed (too numerically unstable to be predictable on models) and just mowed down farms & cities in midwest.
4/ Its not just one crazy week of disasters coast-to-coast in the US. Pandemic has sucked away oxygen from extreme events across the world. We must rebuild this fossil-fueled Doomsday machine. Thread.
5/ Fire tornado warning today in tinderbox of California Sierra Nevada-California region. The heatwave is predicted to persist for 10+ days making more impacts likely. windy.com/-Aerosol-aod55… ImageImageImageImage
6/ Not to be left out from wild week of US weather, a Haboob rolls into Phoenix, Arizona! #azwx

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More from @70sBachchan

Albert Pinto Profile picture
Jul 12
Latest @polycrisis dispatch is out. @kmac & I show just how deep the finance-ecology-geopolitics rabbit hole Hurricane Beryl goes. Sign up here:

buttondown.email/polycrisisdisp…
2/ Ecology: With super hot oceans, we are very worried about this Atlantic hurricane season. THIRTY storms are predicted plus minus 5, depending on el nino

Finance: Worry that coming devastation will shake insurance industry to the core just as 2004-5 did
phenomenalworld.org/analysis/globa…
Image
3/London, Zurich, Bermuda are home of reinsurance.
Insurance model rely on risks being 1 Uncorrelated 2 Calculable 3 Paid for by mkt returns elsewhere
But #globalwarming upends Insurance
It correlates risks (global!); creates catastrophic fat-tails; and crimps returns everywhere. Image
Read 4 tweets
Albert Pinto Profile picture
Jul 4
what reading one book by Brett Christophers does to a mf
‘while it is possible to prevent businesses from doing profitable things, it is impossible to make them do things they consider insufficiently profitable’. Why do all this 'market failure' nonsense
ft.com/content/b2b6fb…
Brett Chrisopher's work on Rentier Capitalism has been eyeopening. Asset Managers like Blackrock now run the roads we drive on; the pipes that supply our drinking water; the farmland that provides our food; electricity & heat. Nice profile

@ddhitchens
compactmag.com/article/how-as…
Under capitalism, profit expectations drive companies’ invstmt decisions. Building solar/wind & selling the electricity they generate, however, generally is not a very profitable business What sort of returns do investors earn, asks Brett Christophers time.com/6958606/climat…
Image
Read 9 tweets
Albert Pinto Profile picture
Jun 4
Yes, BJP still sets the terms in the Indian parliament. But it will not have the decisive electoral majority of 2019-2024 lok sabha where it ran bills with zero opposition or consultation. After this election it will have to respect India’s opposition and democracy
India's stock market slides. Their logic?
BJP not winning in a landslide -> forced to have a NDA coalition government that will inevitably have to be more pro-welfare
--> hence the BJP cannot do nakedly pro-rich liberal reforms --> Oops, sell sell sell

Image
Adani's reversal tells you everything.
"In 9yrs of Modi’s tenure, Adani’s wealth grew from $8bn to $137bn. In 2022 alone, he made $72bn, which is more than the combined earnings of the world’s next 9 billionaires" ht @AnnPettifor

theguardian.com/commentisfree/…

Image
Read 42 tweets
Albert Pinto Profile picture
Mar 30
1/ "What's happening in Guyana isn't just happening there. All over the globe, oil companies are racing to tap as many of the remaining fossil fuel reserves as they can"
@jeffgoodell :

Nice @WeAreDrilled @amywestervelt
rollingstone.com/politics/polit…
stitcher.com/show/drilled

Image
2/ This is not a a story of Guyana’s PM lecturing western liberals over hypocrisy climate, oil & Amazonian forests.

But a geopolitical story of developing country elites working with western firms (Exxon) to sell to western markets (oil goes to europe)
phenomenalworld.org/analysis/offsh…
3/ "Guyana is now producing nearly as much oil as Venezuela -1 of the largest oil exporters since the 1920s & founder of OPEC

This amazing article on Exxon shows that the logic of imperial exploitation of natural resources is alive & kicking"-@GaraviniG
phenomenalworld.org/analysis/offsh…
Image
Read 7 tweets
Albert Pinto Profile picture
Oct 21, 2023
White House request to Congress for $106 billion in emergency funding for foreign aid.

A budget tells you more than words about actual priorities. Full breakdown in this PDF incl military aid to Ukraine, Israel, intl development (World bank) etc Thread whitehouse.gov/wp-content/upl…
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2/ UKRAINE: US so far has sent more than $75 billion to Ukraine. Of new $106B, Biden asks $61B for Ukraine.

~$50B military aid, loans for military gear, DOD stocks of weapons etc (Pg 4-27_
~$11.75B economic (pg 42)

New aid is opposed by GOP in House
whitehouse.gov/wp-content/upl…

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3/Reminder why Biden's request for emergency funding looks the way it does-$106B for ukraine,israel,border, humanitarian. US congressional politics when governed by Dem president+Dem senate+Republican house makes funding requests look like a dogs breakfast
Read 4 tweets
Albert Pinto Profile picture
Aug 16, 2023
“opposite responses of China and the U.S. have revealed that the two countries appear weak only because their strengths are asymmetric”

Key point from @BuddyYakov: US and China can mobilize their fiscal and productive capacity in a way that EU cannot.
noemamag.com/the-american-f…
deja vu Policy debates in US-EU-China

US, 2021:
Do more fiscal spending into the pockets of most vulnerable households and businesses!

EU, 2022:
Do more fiscal spending ....!

China, 2023:
Do more fiscal spending into the pocket of most vulnerable households and businesses
Thread on EU’s own goal
Read 6 tweets

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