Daniela Gabor Profile picture
Nov 5 9 tweets 4 min read
oh look @nssylla , Macron, Rutte and Macky Sall peddling the WallStreetConsensus in the Guardian and #COP27
would be good to know how much of official aid from France and Netherlands is diverted from grants to derisking Global North investments into climate asset classes in the South
fascinating how the Development as Derisking paradigm is reluctant to speak its name, codified instead in 'partnerships' w 'private financiers and donors'
three heads of state arguing that solution to climate crisis in Africa is, paragraph after paragraph, Maximising Private Finance;

not maximising state investment, public green mobility, green industrialisation or Global North regulation of greenwashing

theguardian.com/commentisfree/…
that the neocolonial politics of the #WallStreetConsensus are so much more difficult to unpick is quite easy to tell from Guardian readers
behind every Just Transition there is a Derisking Block creating profit opportunities for private capital

ft.com/content/e6653b…
'We hold our heads high. It was always about derisking investments for our companies'- look @KateAronoff
@KateAronoff I wrote this last year about #WallStreetConsensus at COP26. Stay tuned for an update of the relentless march towards Derisking Capitalism.
phenomenalworld.org/analysis/cop26/

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More from @DanielaGabor

Nov 3
every day, zugzwang central banking day
before 2008, mainstream macro guys declared victory in the decades-old 'art vs science' debate on monetary policy.
We were living, they told us, in the New Keynesian world of scientific monetary policy. The triumph of scientific inflation-targeting regimes.
Read 19 tweets
Oct 18
For past two weeks, I predicted the Bank of England would have to U-turn on its aggressive QT policy of selling gilts.
Today, after vigorous denials, we have a U-turn - a timing that confirms Bailey now dictates the broad direction of fiscal policy
ft.com/content/92a0de…
Read 15 tweets
Oct 17
oh yes, BlackRock in charge, after getting its LDI funds bailed by the Bank of England is the cherry on the cake.
look @BJMbraun the age of asset management in its 'on your nose suckers' stage.
my @guardian piece last week on Uncoordinated Class War finished with this warning.
Read 5 tweets
Oct 17
yes, this is the political economy of monetary dominance, not the lazy 'fiscal view of gilts'
as I wrote last year, monetary dominance (monetarism, then inflation targeting) under market-based finance does entail prudential interventions in bond/gilt markets, but it concentrates institutional power in the central bank.

what we have seen in the UK over the past 3 weeks was a fiscal authority decided to overturn that institutional hierarchy, but with such outrageous class politics that nobody could get behind it.
Read 9 tweets
Oct 17
'no government can control markets' - well, hello TINA, welcome back from the grave of COVID19 pandemic maro
the anti-growth coalition is in power!
btw TINA, or There is No Alternative, is the headline for neoliberal ideologies and market fundamentalism.
Read 7 tweets
Oct 16
when your most embarrassing uncle somehow gets the microphone.
and not the first time - basically Europe's top diplomat only likes people his age and colour, his stale neocolonial politics.
politico.eu/article/josep-…
and his status-quo macro Image
Read 4 tweets

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