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big problem now is that since the us is major oil and gas exporter, increase in cost of the dollar means that energy also becomes more expensive, rather than less

geopolitics of oil has been totally upended by "shale revolution" tho. petrodollars have been cancelled.

tether dying in a ball of flames, when

one depressing aspect is that most ppl seem to think next year will be much worse since no alternative sources will have come online plus theres also no obvious way to refill reserves

why artificially? these are pretty much the def of competitive market rates, no?

an interesting side note here is us shale. the us is now the top exporter of oil and LNG, thanks in the main to the development of fracking. this fact has important financial implications given the central role of the dollar as the international reserve, but it also provides the US with...

but it's not so simple since in 2022 questions of energy supply must be caveated by how that supply comports to the goals set by the paris agreement and by climate change strategy more generally. not only do we have to square the circle of how we provide energy absent missing russian supplies...

the 2008 crisis represented a problem which originated in the financial sector which impacted the real economy (credit contraction leading to a disappearance of demand). the crisis today represents a situation in which problems in the real economy might impact the financial sector (energy price...

oh look

crypto is the investment vehicle of choice for people for whom the main problem with the 2008 financial crisis was that they weren't around for the upside

all of these guys looking pretty nervous rn

https://foreignpolicy.com/2022/11/02/europe-energy-crisis-eu-weather-cold/?s=09

this is all very shades of post 08 rolling euro crisis isnt it, we're still stuck in that mire

which is not to say they cant hurt you, but they dont have to apply - it's a choice, not necessarily your choice, but still a choice somewhere...

all of these "rules" are totally regime contingent, they're not immutable physical constants. they are "social constructs" which depend on changeable institutional and policy choices

but it's not always a problem, as we've seen - for eg, during the financial crisis, during covid, etc. personally I think that the major issue here is the shift in policy from the BoE from being the marginal buyer to the marginal seller of gilts. it's that, in combination with simultaneous...

this is a really good podcast, re is this a bump in the road on the journey towards further globalisation under a dollar standard vs a change in direction towards antagonistic multipolarity:

https://dissensus.com/index.php?threads/14888/post-667219

weren't you suggesting the same thing?

everyone seems pretty keen to go to war as well, based on my admittedly biased sampling of Twitter