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Aug 30 • 11 tweets • 8 min read
Pakistan floods are terrible. Question for those on #Climatetwitter #energytwitter, has reporting you have read discussed Pakistan's dollar debt crisis and IMF loans?
prospect.org/world/developi…
Climate crisis & Debt crisis are two sides of the same coin. Many developing countries face a lost decade just as Climate crisis worsens. They can't invest in green if they are broke & paying high interest rates. Thread prospect.org/world/developi…
IMF board met today & acc to Pakistani officials, revived stalled loan program approved in July 2019 to disburse $1.17 billion to reduce burdens of the economic-ecological crisis. Will IMF impose conditions of removing subsidies?hrw.org/news/2022/08/2…
Pakistan's devastation and IMF crisis are linked.

There is no solution to Climate crisis that does not change intl financial architecture.
No solution to Global Debt crisis that does not change the hierarchy of nations

Read @kmac on Debt & Climate
phenomenalworld.org/analysis/cop26…
Seen the swollen rivers breaking dozens of Pakistan's dams?

World Bank pivoted to large-scale hydropower, where it is easier to attract private sector financing

While IMF's imposed tax regime is crippling Pakistan’s wind & solar energy ht @leee_harris
phenomenalworld.org/analysis/auste…
#PakistanFloods2022 should lead to #CancelTheDebt
Pakistan's terrible floods could trigger IMF Disaster clause in analysis of debt sustainability but only under discretion of IMF staff? 👀 @AvinashPersau15 @kmac @adam_tooze @MonaAli_NY_US
nytimes.com/interactive/20…
We know for sure that 2020s will see more Sovereign debt crisis & Climate disasters. Debt cancellation & interest-free moratoriums must be on the table. Imp work on what impoverished govts & their can creditors do. ht @ifresnillo eurodad.org/a_tale_of_two_…
Climate crisis this month has destroyed Pakistan and set people's lives back decades. Tomorrow it could be your country.

We know enough to act now & cut fossilfuels before extremes makes organised human civilization impossible insideclimatenews.org/news/01072021/…
Informal poll shows more than 2 out of 3 highly informed climate ppl have no clue that the rest of the world is in a devastating dollar debt crisis! And that the existing climate reporting barely links debt & climate crisis
@kmac
adamtooze.substack.com/p/chartbook-10…

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More from @70sBachchan

Albert Pinto Profile picture
Aug 28
Where is the Drought!?

Europe is experiencing its worst drought in at least 500 years! Hot and dry climate fueling wildfires, reducing crop yields & worsening electricity shortages
edo.jrc.ec.europa.eu/documents/news…

Economy is a wholly owned subsidiary of Nature.
2/ Europe and China's historic heatwaves and drought are hurting firms, farms and factories. We are in the grips of a Rossby wave, a planetary wave causing simultaneous crisis across the northern hemisphere.

Thread on Rossby waves
edo.jrc.ec.europa.eu/documents/news…
4/ Europe is exporting its crisis to the rest of the world. By willing to pay high prices for energy, it is sucking energy - whether LNG or Coal - away from developing countries.

Exactly like 2020's bidding war for Masks or 2021's bidding war for Vaccines
Read 8 tweets
Albert Pinto Profile picture
Jul 9
Abe dead. Will Japan double down on Re-Militarizing against China?
He "allowed Japanese troops to fight on foreign soil, ended a ban on military exports & reinterpreted the country’s war-renouncing constitution to allow missile strikes on enemy territory"
hcss.nl/wp-content/upl…
"No other country has devised a grand strategy for managing China’s rising economic and military power as deliberately or successfully as Japan. Seeking to counter Chinese ambitions toward regional hegemony, Japan has taken an increasingly assertive role"
3/ "Abe’s transformation of Japanese grand strategy is one of the most important developments in the modern international relations of Asia."

Recommend book: Line of advantage by Michael Green
cup.columbia.edu/book/line-of-a…
Read 5 tweets
Albert Pinto Profile picture
Jul 4
Germany's trade surplus was result of a strategy --
repress domestic consumption, import cheap fossil energy and export value-added manufactured goods

Now? imported energy is no longer cheap, industrial production slows down, while global demand reduces coz of global recession.
Germany still an exporting powerhouse. Its exports are not down. Its imports have gotten more expensive.

But you can rest assured that german industries and conservative economists will not bother to look at any facts: destatis.de/EN/Themes/Econ…
Storm is a must read on Germany's modell. "exclusive focus is on exports & imports of goods...silence on banks,financial flows & interest rates reflects a view that the“financial sector”..is just passively adjusting to whatever happens in the real economy"
ineteconomics.org/perspectives/b…
Read 7 tweets
Albert Pinto Profile picture
Jul 3
RIP Peter Brook.“swim against the tide & achieve whatever we can in our chosen field. Fate dictated that mine was that of theatre &, within that, I have a responsibility to be as positive & creative as I can. To give way to despair is the ultimate cop-out”
theguardian.com/stage/2022/jul…
RIP Peter Brooks. Watching his Mahabahrata

"What’s righteous & where does righteousness take us? Why does man lust for power? What is fidelity, motherhood and bravery? What are the advantages of privileges we are born into over mere beauty and strength "
Read 5 tweets
Albert Pinto Profile picture
Jun 30
hated every single Covid exponential curve.

Here is China going exponential making electricity from renewables, leaving behind US/Europe.

Lets keep doubling every 5 years!
bloomberg.com/news/articles/…
2/ Crazy how few people outside energy circles know this: "China now leads the world in offshore wind, onshore wind, solar installations and solar manufacturing, EV uptake, EV manufacturing, hydro, PHS, nuclear and smart grids" - @TimBuckleyCEF
Thread:
3/ "we stand shoulder-to-shoulder w developed nations on the starting line of the green revolution. Mastery of green technologies...development of green industries will provide core competitiveness. If we fail to see that, we let down our descendants”
carbonbrief.org/analysis-nine-…
Read 6 tweets
Albert Pinto Profile picture
Jun 29
taking your predictions on Supreme Court decision tomorrow on West Virginia vs EPA.

How far will this radical court go?
jlpp.org/blogzine/west-…
background on tomorrow's Supreme Court decision on EPA's ability to regulate pollution in this thread:
this is the "kick it to Congress" second option
Read 8 tweets

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