Share this page!

Daniela Gabor Profile picture
Twitter logo
4 Mar, 4 tweets, 2 min read
the craziest invention of financial capitalism is my pension fund investing in a closed private equity fund that runs private care-homes, in which I may end up one day, and die faster than if we collectively agreed to organise all this through the state

and this after days of reading about the rush for infrastructure assets in Europe, with billions of institutional investment money waiting for mortgage loans to fail...
Housing as an asset class is another gem: US investors gobbling up urban housing to rent it, then tap the EIB for some subsidised loans to 'green' them.
Oh wait, actually I might not be able to go into that private equity care home after all

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with Daniela Gabor

Daniela Gabor Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @DanielaGabor

Daniela Gabor Profile picture
3 Mar
this is big, @RishiSunak announces @bankofengland mandate to now include explicitly climate crisis.
The first large central bank to do so, no excuse to preserve carbon bias in collateral rules, in quantitative easing!
In our 2019 Green Finance report for @UKLabour , we proposed a Green mandate for @bankofengland

The Conservative Party delivered that, two years later.

labour.org.uk/wp-content/upl… Image
indeed, this is quite staggering!

Read 4 tweets
Daniela Gabor Profile picture
3 Mar
fiscal bullshit bingo time @JoMicheII
no Sunak, you dont get to play Super Mario, he would never peddle 'the government is a household' ideology
'fix the finances'
Read 9 tweets
Daniela Gabor Profile picture
3 Mar
today is Budget day, but dont let fiscal fundamentalists convince you with:

'Sunak cannot sleep', too worried that higher interest rates and inflation will massively increase debt costs, look at this OBR projections, an additional 45bn a year!
first, remember, government is spending 20bn less on interest in 2021 than it had forecasted

OBR projections identify 3 potential sources for Sunak's 'nightmare': higher gilt yields, higher Bank of England policy rate, and higher inflation.

You will be surprised that Bank of England is expected to inflict the highest damage on the Treasury.
Read 8 tweets
Daniela Gabor Profile picture
28 Feb
Marr: 'since interest rates are bound to rise, shouldnt we reduce public debt now?'

Dodds: reduce waste (?), but dont raise corporation tax

Nothing on public investment, on green transition, just bad politics.
unfortunately for us the British public, Sunak is running rings around Labour on macroeconomic policy.

Labour needs to make case for fiscal stimulus, to educate public on fiscal fundamentalism of 'interest rates will rise, cut public debt now'

it's doing none of this.
Come @AndrewMarr9 - if you ask Sunak what happens with 1% increase in interest rates, you can also ask whether @bankofengland can do something about it.

The answer would surprise you.
Read 5 tweets
Daniela Gabor Profile picture
26 Feb
.@MichaelEMann term soft denialism applies well for this type of greenwashing, and from the UN climate finance envoy!
climate wars & disinformation campaigns, Blackrock edition:

world largest carbon financier claims that eliminating dirty loans/bonds from portfolios = greenwashing.

that is, if you lend to fossil fuel companies, you are a climate warrior. If you dont, you're a greenwasher
and this is why we urgently need dirty finance regulation - you cannot trust private finance to come up with solutions to the climate crisis.
Read 4 tweets
Daniela Gabor Profile picture
26 Feb
fascinating speech, recognising between the lines the growing impotence of inflation targeting regimes.

if monetary tools weaker, you need fiscal policy.
Schnable makes strong case for monetary-fiscal coordination.

public sector 'insensitive to low policy rates', giving Euroarea a fiscally restrained stance that further weakened monetary policy

why? fear of market tensions and public debt sustainability.
she wont say coordination, but ' policy response to the pandemic is a remarkable showcase for the power of monetary and fiscal policy interaction to boost confidence'
Read 8 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!

Like this author's thread?

Get emails when @DanielaGabor has new unrolls!

Check out other threads from @DanielaGabor!

Read all threads by @DanielaGabor