Share this page!

Enter URL or ID to Unroll

You can paste full URL like: https://x.com/threadreaderapp/status/1644127596119195649
or just the ID like: 1644127596119195649

How to get URL link on X (Twitter) App

  1. On the Twitter thread, click on or icon on the bottom
  2. Click again on or Share Via icon
  3. Click on Copy Link to Tweet
  4. Paste it above and click "Unroll Thread"!
  5. More info at Twitter Help
Daniela Gabor Profile picture
Daniela Gabor
@DanielaGabor
Professor of Economics/MacroFinance. Critical macrofinance, central banks, repos, shadow banking, WallStreetConsensus https://t.co/YGZItchHwL https://t.co/XPNo2sR5Gm
14 subscribers
Oct 17 • 7 tweets • 2 min read
#WallStreetConsensus & its failure to mobilise trillions in @FT

4 things missing:
a) hegemonic dominance of 'mobilising private finance' in development/climate
b) asking why hegemony
c) mushrooming scaling up initiatives
d) do we want success?

ft.com/content/481dc5… a) Mobilising private finance remains global game - (Bridgetown, Biodiversity COP16, 4th Financing for Development conf) & national game (UK Labour gov, Brazil/Colombia/Chile decarbonisation).
*The world's most powerful political narrative that doesnt deliver
Sep 29 • 6 tweets • 2 min read
this is what financial capitalism looks like -

when Big Finance occupies the state and takes over the social contract, nurses struggle, grandparents struggle, parents struggle, renters struggle, private equity flourishes. Institutionally owned nursing homes:

Sep 9 • 10 tweets • 4 min read
what Draghi's report on Europe's competitiveness tells us about political economy of post-neoliberalism

1. The good:
kills neoliberal industrial policy = innovation policy while 'infant industries' is back, baby!
Image no punches pulled on the Commission's Net Zero Industrial Act, the 2022 attempt to respond to Biden's Inflation Reduction Act with a lot of derisking talk but no money (ahem, European Sovereignty Fund) Image
Aug 23 • 7 tweets • 2 min read
Brian Deese w new #WallStreetConsensus proposal: Climate Marshall Plan & its derisking arm, Clean Energy Finance Authority.

Not old Marshall Plan 90% financed with US grants, but a derisking project, counterpoint to China's BRI & cleantech dominance

foreignaffairs.com/united-states/… the Clean Energy Finance Authority would subsidize foreign demand for US cleantech - or derisk BlackRock renewable assets in say, Kenya with subsidies/guarantees. Image
Apr 16 • 12 tweets • 2 min read
Two amazing Global South progressives and a Nobel prize winner walk into an Oxfam panel on post-neoliberalism Image Stiglitz: w neoliberalism, the growth of financial markets changed the political game tremendously
Mar 25 • 6 tweets • 3 min read
missing from this @FT account of the rapid rise of infrastructure as an asset class is the sustained effort that G20 governments have put into derisking infrastructure assets for institutional capital - this is the derisking state in action #WallStreetConsensus Image @FT with @BJMbraun we've termed this a weak derisking macrofinancial regime - a set of policies (as in the G20 Infrastructure as an Asset Class agenda, or World Bank Maximising Finance for Development) that seeks to mobilise private capital into infrastructure
osf.io/preprints/soca…
Image
Mar 19 • 5 tweets • 2 min read
I did not expect this, but Rachel Reeves' Mais lecture is a lot more interesting - and dare I say, promising - than either the commentariat focused on fiscal rules or the past weeks of 'maxxed credit cards' would have us believe

labour.org.uk/updates/press-… some parts are taking a direct swipe at us advocates of Big (Green) State, but it's a careful articulation of the alternative rather than the empty austerity ideology of 'maxxed out credit cards' Image
Nov 21, 2023 • 12 tweets • 2 min read
Carbon wealth taxes are for the left what carbon prices are for the right - distractions consuming political energy it is a strategic and tactical mistake for progressives to centre the superrich in climate politics.
Tactics - global tax system is organised to enable rampant tax avoidance + evasion for both high net worth individuals & corporations.
Oct 15, 2023 • 5 tweets • 2 min read
Global South voices - here the President of Colombia - read in the European/US support of the genocide in Gaza a blueprint, an experiment for ecofascism that 'treats us as disposable lives'. not mincing words

'we are heading to barbary. Humanity, especially in the South, depends on the road we choose to address the climate crisis produced by the Global North. Gaza is the first experiment to treat us as disposable lives.'
Jul 27, 2023 • 16 tweets • 3 min read
the @ecb hiked rates to highest level ever today, but this matter less.
@Lagarde promised European Parliament to return ECB to Paris climate commitments but still nothing!
in a new report we show it can do Green Unwinding @AuroreLalucq @henrikehahn
greenpeace.de/publikationen/… we are in the middle of a climate emergency, and the @ecb has stepped back from cleaning its portfolio of dirty bonds -

for no other reason except the (imagined) danger that @lagarde may be seen as 'Mme Climate' instead of fighting inflation.

Jun 19, 2023 • 6 tweets • 3 min read
not sure we disagree that much @adam_tooze

you stress domestic politics that shaped the US IRA - which is often how US interlocutors defend derisking, but I cannot quite grasp where your analysis is critically different @adam_tooze we agree that US IRA is not your 'neoliberal derisking' - a concept that I would apply to say German 'markets not industries' Energiewende, incidentally very much alive today in the German Green-SPD coalition approach Image
Jun 16, 2023 • 5 tweets • 2 min read
the @ecb, despite hopes to the contrary, really does not want to talk about profits and continues to
a) blame workers for inflation
b) ask workers to continue to take the distributional pain @ecb the class struggle ratio lives on in this June conference too

Jun 1, 2023 • 18 tweets • 8 min read
today is @ecb 25th birthday.
the really interesting story, which is less told - its history as political struggle over sovereign bond collateral.

@ecb the @ecb was born in 1998, just as LTCM was building massive repo leverage. LTCM would collapse three months later, triggering a global margin call, and the first central bank attempts to grapple with question of systemic collateral markets. ImageImage
May 31, 2023 • 5 tweets • 1 min read
So @BJMbraun what do you think is the probability that German train operator will respond favourably to a French Eurostar request to delay departure so we can make the connection?
A new milestone for the Franco-German Engine State capacity - a punchy concept at the Eurostar boarding gates in London.
May 30, 2023 • 4 tweets • 2 min read
Montevideo and several other regions in Uruguay are going through a serious water crisis -this is a stark warning of how the right mismanages the climate crisis. Cronica de una crisis anunciada:
the Lacalle Pou administration had warnings about water shortages, but discarded existing plans to extend water shortage, and instead went for the more expensive 'let's import a desalinisation plant from the US' Image
May 24, 2023 • 5 tweets • 2 min read
how it started: how it is going: ImageImage guys, maybe interest rates are not the instrument to address imported/cost push inflation, unless, of course, you want to inflict even higher social pain
May 22, 2023 • 7 tweets • 3 min read
we live in post-ordoliberal times, and a new derisking global order is getting build

ft.com/content/9e2e0c… Image this piece is amazing in the rhetorical tricks it performs
1. Derisking is, apparently, reversing capital-labour relations, and is no longer consistently prioritising the first Image
May 18, 2023 • 4 tweets • 2 min read
The German male professors response to @IsabellaMWeber is both shocking and a timely reminder of the ferocious gatekeeping.
They really cannot stand that a young woman gets so much public attention for her insightful research. 'hey, do I care that I confirm all critiques of sexism in economics? Nein.'
May 18, 2023 • 12 tweets • 6 min read
The green capitalist state in the Global North is a derisking state!

in a new paper, I examine the political embrace of derisking in European/US green industrial policy, and consider the implications for decarbonisation.
osf.io/preprints/soca… Image derisking has mutated from co-producing investible infrastructure to investible productive capacity;
- that is precisely how the European Commission @ThierryBreton thinks of it Image
May 16, 2023 • 18 tweets • 4 min read
we're now discussing Finance and Nature as an Asset Class at the #BeyondGrowth2023 - with Vandana Shiva, Fred Hache, WWF (!) Marie Toussaint and other.
is the question 'how do we finance the protection of nature' the right one? MT: 'we're opening new frontiers for capital accumulation, in the debt-for-nature swaps in Ecuador's Galapagos Island...betting on capital to solve the problems capital has created'
May 15, 2023 • 31 tweets • 5 min read
At the #BeyondGrowth conference in Brussels, with another 2000 participants, curious to see what's the discourse in the new geopolitics Image Last time I was here at a large scale event, in 2018/19, it was for Sustainable Finance, where Europe was organising to discipline carbon capital.
4 years and a US IRA later, that political project is dead.