Daily updates on climate change and the global economy.

Daily updates on climate change and the global economy.
Stay current with what’s happening around the world with a quick scan of top news.

Daily updates on climate change and the global economy.
Stay current with what’s happening around the world with a quick scan of top news.

Daily updates on climate change and the global economy.
Stay current with what’s happening around the world with a quick scan of top news.

Daily updates on climate change and the global economy.
Stay current with what’s happening around the world with a quick scan of top news.

Global recession
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The world economy is in trouble. Not only are there clear indications of a substantial slowdown in a number of the world’s key economies, there are also growing signs that we could be on the cusp of a worldwide wave of commercial property loan defaults. Those defaults could put great strain on the global financial system and trigger a meaningful global economic recession.

https://www.barrons.com/articles/a-global-recession-economic-growth-china-property-default-federal-reserve-ee297237


boy in Gaza wreckage
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The Economic Fallout Of The Gaza Conflict For Iran

The Gaza-Israel conflict has significant implications for Iran’s already strained economy, characterized by currency devaluation, reduced government revenues, and high inflation.

Iran’s involvement in the regional conflict hinders its economic growth efforts, further reduces the value of the Iranian rial, and decreases government income. Additionally, it has worsened economic problems such as inflation, diminishing oil exports, and weaker GDP growth.

https://www.iranintl.com/en/202402180401


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Israel’s war-battered economy sees double-digit contraction, sharpest since coronavirus crisis

Israel’s economy recorded a double-digit contraction in the three final months of 2023, with the ongoing war with the Hamas terror group taking a heavy toll on consumer spending, trade and investment, preliminary data by the Central Bureau of Statistics shows.

The country’s economy shrank at a 19.4 percent annual rate in the fourth quarter of 2023…

https://www.timesofisrael.com/liveblog_entry/israels-war-battered-economy-sees-double-digit-contraction-sharpest-since-coronavirus-crisis/


Israeli protestors
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Blocked Roads, Clashes With Police: Thousands Rally Against Netanyahu’s Government Across Israel

Thousands of anti-government demonstrators called for an early election and the removal of Prime Minister Benjamin Netanyahu in Tel Aviv, Jerusalem, Haifa, Be’er Sheva and Caesarea

https://www.haaretz.com/israel-news/2024-02-17/ty-article/.premium/blocked-roads-clashes-with-police-thousands-rally-against-netanyahus-government/0000018d-b8ae-dc8c-a3df-fabf5a0d0000


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Israel prepares for power grid attacks, Burkan missiles in possible war with Hezbollah
“Israel has held unpublicised emergency meetings recently to survey contingency plans that include backup generators…”

https://www.newarab.com/news/hezbollah-could-cripple-israels-power-grid-major-war

 


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Italian farmers who were invited, along with a cow called Ercolina II, to mass at the Vatican amid Europe-wide agricultural protests have said the blessing from Pope Francis would give them the strength “to win the game”.

https://www.theguardian.com/world/2024/feb/18/holy-cow-protesting-italian-farmers-bring-bovine-to-mass-with-the-pope

 


commercial real estate
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Concerns about a widespread credit crisis are intensifying among investment managers as signs of trouble emerge in real estate markets worldwide, a report said.

According to Bank of America Corp.’s latest Global Fund Manager survey, approximately one in six respondents now views this scenario as the most significant risk facing financial markets. This figure has risen from one in 11 in December. The unease is particularly pronounced in the US commercial real estate and Chinese property sectors, making it the third most significant concern among survey participants, trailing behind worries about rising inflation and geopolitical tensions.

https://www.mpamag.com/us/specialty/commercial/concerns-are-growing-over-the-impact-of-real-estate-crisis/477710


gold bar being engraved
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“Gold is taking benefits from the slide in the U.S. dollar and also the new escalation of tensions in the Middle East,” said Carlo Alberto De Casa, market analyst at Kinesis Money.

Israel expects to continue full-scale military operations in Gaza for another 6-8 weeks as it prepares to mount a ground invasion of the enclave’s southernmost city, Rafah, four officials familiar with the strategy said.

A UK-registered cargo ship reported coming under attack in the Bab al-Mandab Strait off Yemen on Sunday and the UK Maritime Trade Operations agency reported crew abandoning ship off Yemen after an explosion.

https://www.nasdaq.com/articles/precious-gold-advances-on-weaker-dollar-and-middle-east-conflict


Chinese people walking
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‘It’s legalised robbery’: anger grows at China’s struggling shadow banks

Investors in one of the country’s ailing financial trusts have realised that the state may no longer always protect them.

https://www.theguardian.com/business/2024/feb/18/anger-grows-at-china-struggling-shadow-banks


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Liquidators for China’s Evergrande prepare to sue PwC over audits

Evergrande’s liquidators are preparing for a potential lawsuit against PwC, which audited the now-collapsed Chinese property group for over a decade, in a move that could lead to the Big Four accounting firm facing a high-profile negligence claim.

https://archive.is/dZoFz


German street scene
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Good Morning from #Germany, where the shadow economy is booming due to the negative incentives of the citizen’s income, a kind of unconditional basic income (UBI). Experts estimate that the shadow economy has risen to €463bn in 2023, equal to 10.7% of GDP.

 

https://twitter.com/Schuldensuehner/status/1759153787783012476


crushed plastic
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“Over the past several years, industry lobbying groups have promoted so-called chemical recycling, which breaks plastic polymers down into tiny molecules in order to make new plastics, synthetic fuels and other products. But the process creates pollution and is even more energy intensive than traditional plastic recycling.

 

https://www.theguardian.com/us-news/2024/feb/15/recycling-plastics-producers-report


melting chocolate
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Unlike most other agricultural commodities, cocoa hasn’t developed into a plantation business. At the prevailing prices of the 1990s and 2000s, it simply didn’t make commercial sense. The money was made around trading the beans, and processing them into chocolate — not planting, growing and harvesting cocoa trees.

Today, the crop is still grown overwhelmingly by poor smallholders1. Just making enough to subsist, most lack the means to re-invest in their plots. And finally, the decades of underinvestment have caught up with growing chocolate demand. For the third consecutive crop season, global consumption in 2023-24 will meaningfully surpass production – something unseen since the early 1960s.

https://archive.is/NlnXd


baby
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How the world’s falling birthrate is leading to economic catastrophe

Forget climate change, population decline might just be the most pressing potential disaster facing humanity

 

https://www.telegraph.co.uk/news/2024/02/17/birth-rate-decrease-population-decline-extinction/


shit hitting the fan
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This one is for Martin. 😉 Let’s boil things down.

 

 

 

 

 

 


You can read the previous “Economy” thread here. I’ll be back tomorrow with a “Climate” thread.

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