Stephen Loynd Profile picture
Jun 27 6 tweets 3 min read
"Russia defaulted on its foreign debt for the first time since 1918, pushed into delinquency not for lack of money but because of punishing Western sanctions over its invasion of Ukraine."

wsj.com/articles/sanct…
1/ "Russia missed payments on two foreign-currency #bonds as of late Sunday, according to holders of the bonds. The day marks the expiration of a 30-day grace period since the country was due to pay the equivalent of $100 million in dollars and euros to #bondholders."
2/ "Russia last failed to pay its foreign borrowing during the #BolshevikRevolution when #VladimirLenin, the newly installed communist leader, repudiated the debt of the Russian Empire."
3/ "Russia defaulted on its ruble-denominated bonds during a financial crisis in 1998, but it was able to stay current with its overseas debt at the time."
4/ "Finance Minister Anton Siluanov on Thursday said Western nations created barriers in order to 'hang the label ‘#default’' on Russia and called the situation a farce."
5/ "The default isn’t expected to have a widespread impact on Russia’s economy. Russia reduced #foreignborrowing in recent years, making itself less reliant on #foreigncapital. In the longer term, the default will make it harder for Russia to re-enter intl #financialmarkets."

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More from @loyndsview

Jun 27
"... it points to an important lesson for the United States as it vies with #China for influence across the Pacific: you have got to show up. And the United States has not."

nytimes.com/2022/06/27/opi… #SolomonIslands #diplomacy
1/ "We get it. The #SolomonIslands is small, remote and economically insignificant. But if all countries like us are dismissed as such, China will pick us off one by one with its promises of business projects and development aid."
2/ "There is a creeping sense today that we are being ignored, if not forgotten. So who can blame us if we open the door to new friends who can help with our needs?

And those needs are great."
Read 7 tweets
Jun 26
"The killings last Monday, which led Pope Francis, himself a Jesuit, to bemoan #Mexico’s unrelenting violence, underscore how Mexican #organizedcrime groups rule over huge swaths of the country’s territory."

wsj.com/articles/killi…
1/ "Last year, U.S. Northern Command chief Gen. Glen VanHerck told a congressional committee that about one-third of Mexico’s territory is effectively run by organized crime groups. Mexico’s government denied the claim."
2/ "The two #Jesuits, Joaquín Mora, 80, and Javier Campos, 79, were killed inside their church, said Roberto Fierro, the attorney general of northern #Chihuahua state, where the killings occurred. Chihuahua is one of Mexico’s most violent states."
Read 13 tweets
Jun 26
"Across #China, the police are buying technology that harnesses vast #surveillance data to predict #crime and #protest before they happen."

nytimes.com/2022/06/25/tec… #Panopticon #Bentham #startups
1/ "The latest generation of technology digs through the vast amounts of data collected on their daily activities to find patterns and aberrations, promising to predict crimes or protests before they happen."
2/ "It takes extensive evasive maneuvers to avoid the digital tripwires."
Read 13 tweets
Jun 26
"It’s too soon to say whether #climatechange is directly to blame for causing severe #heatwaves in these four powerhouse economies — which also happen to be the top emitters of heat-trapping gases — at roughly the same time, just days into summer."

nytimes.com/2022/06/24/cli…
1/ "While #globalwarming is making extreme heat more common worldwide, deeper analysis is required to tell scientists whether specific weather events were made more likely or more intense because of human-induced warming."
2/ "(A team of researchers who studied this spring’s devastating heat in #India found that climate change had made it 30 times as likely to occur.)"
Read 8 tweets
Jun 24
“'Every piece of real estate in #Bangladesh is populated, and this entire area is underwater,' said Sheldon Yett, the United Nations Children’s Fund representative to the country, referring to the northeast."

nytimes.com/2022/06/24/wor… #Sylhet #FinnegansWake
1/ "But this year, the #rains have been especially intense, a harsh reminder that #climatechange is bringing more extreme weather around the world."
2/ "In #China, where recent #flooding has displaced hundreds of thousands of people, the state-run news media reported this week that water levels had surged beyond flood levels in more than a hundred #rivers."
Read 9 tweets
Apr 24, 2021
"In a 2011 Times Op-Ed, Warren #Buffett decried the treatment of #carriedinterest, which allowed him to report a lower tax rate than his secretary. A minimum tax on millionaires was proposed shortly thereafter & dubbed the '#BuffettRule.'”

nytimes.com/2021/04/23/bus… #PrivateEquity
1. "The #carriedinterestloophole might finally disappear. Profits earned from funds owned by real estate investors & mgrs of #privateequity & #venturecapital firms are taxed as #capitalgains at about 20%, instead of as regular income, which is taxed at more than double that rate"
2. "#Privateequity executives are also worried that the Biden administration may limit the tax deductibility of corporate interest payments, which would be another hit to their business model."
Read 4 tweets

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