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."
Please think just one step ahead the decision tree.
we are supposedly Intelligent life on this planet. We barely scraped by on lots of luck in 75 years of living with the atomic bomb. adamtooze.substack.com/p/chartbook-88…
'Tsar Bomba tantrum'!! Not helping with financial war -> MAD anxiety right now
Reminder for money people that Tsar Bomba's explosive energy of 50 megatons of TNT was equivalent to 10 TIMES all the explosives used in world war two. adamtooze.substack.com/p/chartbook-89…
good steps from Adults to reduce nuclear risks: 1. U.S. postpones routine ICBM test given Russia's alert nuclear posture.
2. U.S. military established a backchannel with Russian military to prevent pilots & warships from accidentally firing on each other time.com/6154459/russia…
People advocating for sanctions against nuclear power? Our goal is Palace Coup (LEFT)
People who decide policy? Lets walk back down action-reaction escalation ladder
WH officials: “Cornered Putin ...reaction will be to double down and lash out" (RIGHT) nytimes.com/2022/03/03/us/…
At least you are alive after a hangover.
The West is drunk on Power. Its MAD if the "unipolarity hangover" continues.
Markets: "If an ICBM is heading your way, the size and composition of your portfolio becomes irrelevant. Thus, from a purely financial perspective, you should largely ignore existential risk,even if you do care about it greatly from a personal perspective"
Conversely: "for the West, the argument over how to balance resisting evil with avoiding major war will likely intensify and poison domestic politics."
"Senator Manchin is a fossil-fueled sociopath on a Maserati joy-ride while he lets the world burn."
Just like Manchin's push for more drilling and fracking in US - the worlds biggest Oil&Gas producer, his NO FLY ZONE push is MAD greenpeace.org/usa/news/manch…
This is a brilliant thread. We live in a world of madmen pretending to be sane. In a nuclear crisis, there are individuals at each step of the escalation ladder, who can climb up or climb down. Some are doing so right now.
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…
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 "
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…
MMT on managing inflation with multiple tools
"Whether it's businesses raising profit margins or passing on costs...there are a range of sources of inflation that aren’t caused by the general state of demand & aren’t best regulated by aggr demand policies" ft.com/content/539618…
Balanced critique of Kelton's book "The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy" ht @JWMason1 prospect.org/culture/books/…
Economists who don't pay attention to details of production are not economists. Production of cars, oil and meat was disrupted because they are "just-in-time" and bottlenecks in production or transport (like shipping/ports/trucks) hurt.
Thread
2/ Started the thread here 2 years ago, as it became clear that coronavirus would shock the world economy. The shock of E Asia shutting down was immediate to markets & commodities and our "just-in-time" fossil-fueled systems #CoronavirusImposesCarbonTax
3/ The idea of #CoronavirusImposesCarbonTax thread was to understand structure by exploring how a shock propagates across the world economy. Economists find out in 2021 that bottlenecks caused inflation in sectors of OIL, CARS and MEAT.
Pickens hated Dole & Agribusiness love of Corn ethanol. Told Dole, its a fuel that requires more energy (and oil+subsidies) to produce than it delivers at the pump.
2/Witnessing the disaster in Indonesia in 2015 was devastating. Most ppl outside Midwest don't know that 2007 RFS mandate replaced 10% of each gallon of gas sold in the US with corn ethanol. It was pushed by all major envtl group then. Horrifying impact.
3/ Corn: US's leakiest oil pipeline. Hated by Oil companies, but such is power of Agribusiness.
Fossil fuel goes into tractors & fertilizers & comes out as corn-ethanol, that is put back into....cars, tractors. 10% of every gallon of gas in the US is corn ethanol. Thank Dole.
US defense technocrats will now include Climate in prioritizing threats; in strategies for countering threats; in planning missions of the armed forces; in what weapons to develop and five-year plan for investments that support strategy #GeopoliticsOfGHGs media.defense.gov/2021/Oct/21/20…
gotta love the big nerd brain energy in Pentagon planners.
Guys guys this climate change thing that our scientists are telling us about for 50 years? What if, like, its too hot for planes to take off or, get this, wildfire smoke makes bombing harder? media.defense.gov/2021/Oct/21/20…