There’s a lot of talk about “overcapacity” in Chinese industry and how that’s harmful for the US. From a macroeconomic point of view, I find it a bit puzzling. (longish thread)

Heute ist sie endlich halbwegs fertig, meine Grafik die visualisiert, dass der gesamte Flächenverbrauch von Solarparks in Deutschland deutlich unter dem von Golfplätzen (ca. 50.000ha) liegt. Zahlen teilweise aus verschiedenen Jahren aber die Proportionen kommen gut hin.

Likewise, when it comes to economic and labor statistics - crackpots have been claiming that the CPI or unemployment rate is fake for ages, but the banks that have billions riding on those numbers trust the federal numbers *because they're reliable and right.* 6/

This AI generated website has dreamed up pictures of the Siegessäule in #Berlin which are ridiculously unreal. I wonder if we will measure negative productivity effects of AI at some point. worldday.de/siegessaeule-b…

It's not exactly surprising but some of the polls from eastern Germany are truly mad. In Thuringia, where the next election is in September, the far-right AfD polls at 28%. The new far-left BSW is at 21%.

Vor einem Jahr hieß es, wir seien bei den Energiepreisen in einem "Neuen Normal": Gas- & #Strompreise seien im Vgl. zur Vorkriegszeit etwa *doppelt* so hoch. Das werde auch so bleiben. Das ist nicht richtig, die Preise sind quasi auf Vorkriegsniveau. Hier ein paar Zahlen🧵

In 2015, a consequential election delivered a majority for Brexit. In 2024, we can now study the economic impact of Brexit with data up to 2022. This is a thread in which I try to go full circle back to the origins of Brexit. But let me comment before on what we observe so far:

So here is an alternative explanation that has to do with this medium. Social media (+ possible malign interference). In all figures we highlighted Boston. Why? Well, the data is clear about it: Boston experienced both: a ton of migration and a ton of austerity. Let's hear

Marginal Revolution Yes, but if you look at value added, things look less bad (still not really good). It is quite interesting to analyze the difference between industrial production and industrial value added Marginal Revolution tylercowen ideas.repec.org/a/ces/ifosdt/v…

Bitcoiners really, really, need to learn the standard definition of “money.” You can’t engage in rational debate on monetary theory, policy, or (for that matter) reality if you aren’t willing to use a very basic econ. term of art correctly.

Noteworthy that Draghi has barely (maybe not even once?) used the word 'competitiveness'. Rightly, he keeps coming back to the importance of increasing 'productivity'.

This chart continues to impress Twitter. But one should also consider another relevant metric: Share of Industry gross value added. Which is not evolving as dramatic. Keep in mind that GVA is what's relevant for GDP.

Once again, confounded by the economic ignorance of the MAGA folks, I try to explain why imports don't subtract from GDP -- and why blocking some kinds of imports actually *hurts* American manufacturing quite a bit. noahpinion.blog/p/once-again-i…

Germany is exactly in the middle. Who would have thought?