"Even with the government subsidies, people in #Egypt, #Tunisia, #Syria, #Algeria and #Morocco spend between 35 and 55 per cent of their income on #food. They’re living on the edge: small price rises bring #poverty and #hunger."

➡️braveneweurope.com/michael-robert… #wellbeing #consumption Image
"Just before the pandemic, in 2019, American non-financial corporations made about a trillion dollars a year in profit, give or take. This amount had remained constant since 2012. But in 2021, these same firms made about $1.73 trillion a year. ...
... That means that for every American man, woman and child in the US, corporate America used to make about $3,081, but today makes about $5,207. That’s an increase of $2,126 per person. ...
... It means that increased profits from corporate America comprise 44% of the inflationary increase in costs. Corporate profits alone are contributing to a 3% inflation rate on all goods and services in America."
"A Marxist theory of inflation looks first to what is happening to supply and, in particular, whether there is sufficient #value creation (#exploitation of labour) to stimulate investment and production."
"There is an alternative to monetary or wage restraint, these policy proposals of the mainstream, acting in the interests of bankers and corporations to preserve profitability. It is to boost investment and production through public investment."

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More from @AgathoniaMedia

Apr 22
To celebrate (stable) 500 followers, we dive into the archive for a little tweet-ping-pong featuring @ProfSteveKeen & Michael Hudson.

To my embarrassment I found them both around here.

However, maybe you are the next to discover them.

The one last standing wins, of course.
Read 104 tweets
Apr 22
"The #UnitedStates is experiencing an extreme teenage mental-health #crisis. From 2009 to 2021, the share of American high-school students who say they feel 'persistent feelings of sadness or hopelessness' rose from 26 percent to 44 percent"

theatlantic.com/newsletters/ar… #wellbeing
"More than 1 in 4 girls reported that they had seriously contemplated attempting suicide during the pandemic, which was twice the rate of boys. Nearly half of LGBTQ teens said they had contemplated suicide during the pandemic, compared with 14 percent of their heterosexual peers" Image
"But the big picture is the same across all categories: Almost every measure of mental health is getting worse, for every teenage demographic, and it’s happening all across the country."
Read 4 tweets
Apr 22
"Our results showed that (i) the #biodiversity loss per citizen shows large variations among countries, with higher values when per-capita income increases; (ii) the share of biodiversity losses due to GHG emissions in the ...

pubs.acs.org/doi/10.1021/ac…
... #biodiversity #footprint increases with income; (iii) food consumption is the most important driver of biodiversity loss in most of the countries and regions, with a global average of 40%; ...
... (iv) more than 50% of the #biodiversity loss associated with consumption in developed economies occurs outside their territorial boundaries; and (v) the biodiversity footprint per dollar consumed is lower for wealthier countries.
Read 5 tweets
Apr 22
"We find that, between 2009 and 2013, #tourism’s global #carbon #footprint has increased from 3.9 to 4.5 GtCO2e, four times more than previously estimated, accounting for about 8% of global greenhouse gas #emissions."

nature.com/articles/s4155…
"The United States tops the carbon #footprint ranking (Fig. 1,top left) under both DBA (1,060 MtCO2e) and RBA (909 MtCO2e) accounting perspectives, followed by China (528/561 MtCO2e), Germany (305/329 MtCO2e) and India (268/240 MtCO2e)." Image
"The majority of these carbon #footprints are caused by domestic travel."
Read 7 tweets
Apr 21
"Oxfam found that '13 out of the 15 #IMF loan programs negotiated during the second year of the #pandemic require new #austerity measures such as taxes on food and fuel or spending cuts that could put vital public services at risk.'"

commondreams.org/news/2022/04/1…
"The Oxfam report notes that the conditions of a 2021 loan of $2.3 billion to #Kenya compelled the country to freeze public sector pay for three years, while mandating higher taxes on food and cooking gas"
"#Sudan has had to end fuel subsidies, a policy that has disproportionately affected the nearly 50% of the population that is impoverished."
Read 10 tweets
Apr 21
"We found that in total 83% of total regional species loss (4747 species) is incurred due to land use devoted for domestic consumption whereas 17% due to export production (a total of 969 species)."

sciencedirect.com/science/articl… #FoodSystems #BiodiversityCrisis #WorldSystem
"Fig. 1c shows that imports into the USA&China embody highest species lost. It is interesting to see that even countries with smaller populations such as Japan, Germany, South Korea,...—all cause high biodiversity loss abroad owing to their high per capita consumption and import"
".... For example, total German food consumption was estimated to result in 46 species lost, of which 43 are from imported food items."
Read 4 tweets

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