Zoe James

Zoe James

@zolou.bsky.social

Postgraduate research student, University of Exeter, Creative Writing - 'Ways to Tell the Unfolding Climate Story'

175 followers121 following491 posts

'The answers, contradictory, incomplete and inadequate as they will always be, will be social, political, economic, organisational and technological.' 'We all have a duty to engage ... We will be assailed by cognitive dissonance.'

@richardjmurphy.bsky.social has 7 (or 8) answers to the bond market question. I take the Q to be: What can we do about rising govt debt in the face of rising interest rates on govt bonds? This thread paraphrases his answers so I can see if I understand. I'd love to see these proposals debated! 🧵 1/7

Richard Murphy@richardjmurphy.bsky.social

Why should pensioners and those on social security pay the price when bond investors demand higher returns? That is the question raised by the latest turmoil in government bond markets. I say the government should fight back and suggest seven ways it could. youtu.be/kI-wvSkHKkQ?...

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Answer 6: Govt cd introduce a Spahn tax. This is a transaction tax that goes up during periods of market distress when the market is prone to speculative attacks. Answer 7: Govt cd increase tax on unearned income - interest, dividends etc. 6/7

Answer 8: At the same time, govt cd increase tax on increased bank profits. And that's it. Most of this is in addition to his ideas for generating revenue by taxing wealth without a wealth tax. Would these ideas fly? If not, why not? taxingwealth.uk End 🧵 7/7

taxingwealth.ukTaxing Wealth Report 2024The Taxing Wealth Report 2024 seeks to answer the question that every journalist loves to ask of every politician, which is ‘how are you going to pay for it?’, whatever 'it' might be. What we know is...

@richardjmurphy.bsky.social has 7 (or 8) answers to the bond market question. I take the Q to be: What can we do about rising govt debt in the face of rising interest rates on govt bonds? This thread paraphrases his answers so I can see if I understand. I'd love to see these proposals debated! 🧵 1/7

Richard Murphy@richardjmurphy.bsky.social

Why should pensioners and those on social security pay the price when bond investors demand higher returns? That is the question raised by the latest turmoil in government bond markets. I say the government should fight back and suggest seven ways it could. youtu.be/kI-wvSkHKkQ?...

View full thread

Answer 4: At the same time, govt could end "full funding rule" which says it must keep its books balanced by issuing new bonds and Treasury bills [like bonds but short-term?]. This was apparently a requirement under the Maastricht treaty, no longer applicable in UK. Also at the same time ... 4/7

Answer 5: Govt cd tell BoE to stop paying or reduce interest on accounts held with BoE by commercial banks (central bank reserve accounts). This interest is £20bn p.a.. RM suggests reducing to £10bn. The commercial banks did not deposit the funds, they were created by QE. 5/7

@richardjmurphy.bsky.social has 7 (or 8) answers to the bond market question. I take the Q to be: What can we do about rising govt debt in the face of rising interest rates on govt bonds? This thread paraphrases his answers so I can see if I understand. I'd love to see these proposals debated! 🧵 1/7

Richard Murphy@richardjmurphy.bsky.social

Why should pensioners and those on social security pay the price when bond investors demand higher returns? That is the question raised by the latest turmoil in government bond markets. I say the government should fight back and suggest seven ways it could. youtu.be/kI-wvSkHKkQ?...

Answer 1: Govt cd tell the BoE to stop quantitative tightening programme (QT), i.e. stop selling off its vast holding of govt bonds bought during COVID. QT transfers govt debt from the BoE to private financial markets. RT argues this is oversupplying the market. We are the only country doing QT. 2/7

Answer 2: Govt to declare economic crisis and in that context require the BoE to cut interest rates. Answer 3: At the same time, govt could stop issuing bonds, which it does daily to match govt deficit and replace matured bonds. It could instead run up a BoE overdraft. 3/7

No translation needed

PIK_climate@pik-potsdam.bsky.social

„Durch die globale Erwärmung pumpen wir wahnsinnig viel Energie in den tiefen Ozean. In El Niño kommt die immer wieder hoch, und dadurch wird es noch mal extra schlimm. Das ist alarmierend.“ Interview PIK-Forscher @alevermann.bsky.social im ZDF-Morgenmagazin. ⬇️ www.zdfheute.de/video/zdf-mo...

On the verge of teenager-dom, my best friend went off to Berkeley for 6 months while her dad was on sabbatical. She came back with a spliff, which we smoked in the woods, and the RHPS LP. The first was underwhelming, the second life changing. RIP Tim Curry www.theguardian.com/film/filmblo...

theguardian.comFarewell, Dr Frank-N-Furter: why Tim Curry’s Rocky Horror Show will go onThe versatile stage performer will always be remembered for his defining film role in The Rocky Horror Picture Show, which turned him into an icon of 70s underground cinema and proto-punk

I worry a bit when I hear climate experts say in interviews that, in terms of global warming, things aren't going to get better, they will only get worse. 2028 might be cooler. What we are experiencing this year could be a big wave in a rising tide. Might be another big wave next year too.

Best explanation I've seen for the increase in droughts and wildfires. I guess the rise of heat domes caused by ragged Jetstream caused by greater warming at poles is also a factor for our latitudes.

Prof. Stefan Rahmstorf@rahmstorf.bsky.social

As long expected. It’s climate science 101. The vapor thirst of the atmosphere increases exponentially with temperature. A law of physics known since the early 19th C (Clausius–Clapeyron law). It causes more drought even if rainfall doesn’t decline. www.theguardian.com/environment/...

What if a missing piece was found that broke the log jam? What if there was a credible theory of change? This petition needs more signatures

Mike Berners-Lee@mikebernerslee.bsky.social

Please sign and circulate this parliamentary petition, launched today from the National Emergency Briefing calling for a UK-wide, government-backed public briefing from independent experts on climate risks and also the opportunities from urgent action. petition.parliament.uk/petitions/76...

It's a bit like the 'don't think about a blue elephant' thing - there's no getting round what the framing brings to mind, even if people know intellectually that there's more to it.

Finished listening to Goliath's Curse, written and beautifully read by @lukekemp.bsky.social. Feel like I've been to the doctor's and had a thorough diagnosis and full, holistic (if devastating) consultation, addressing all the issues that having been hanging around for a long time. Much relief. 1/3

Finally found a reference to someone else eating a dandelion flower. The sweet honey taste of those silky ruffles of sunshine, squeezed from their green cup, is one of life's great joys to me, and one I've never found a companion in.They found it bitter! Wth! They must have got a mouthful of green.

If @richardjmurphy.bsky.social were chancellor: 1. Fiscal rules based on sustainability, real resources 2. Invest in energy, transport, housing, health, care 3. Job guarantee/GND/carbon army 4. BoE under gov ctrl 5. Tax reforms to rebalance wealth 6. All new ISAs gov bonds pca.st/podcast/dc92...

pca.stFunding the FutureRichard Murphy and occasional friends talking about everything you need to know to understand the economy, tax, finance and how we fund our future.

'How selfish soever man may be supposed, there are evidently some principles in his nature, which interest him in the fortune of others, and render their happiness necessary to him, though he derives nothing from it except the pleasure of seeing it' - Adam Smith pca.st/episode/897d...

pca.stWho is the real Adam Smith?Neoliberalism claims Adam Smith as its founding father, but that claim is built on a lie. Smith's first great work, The Theory of Moral Sentiments (1759), placed empathy and…

A lot to process in the news after a busy weekend with the grandkids. Distraught for the people of Tehran raising families under blackened skies. Still a piece of my heart left for Glasgow's Union Street in the city of my childhood.

It's the river of no return, even if by some chance we're not too busy fighting each other and still have the infrastructure and the bandwidth to reverse global warming. This is the time. And there are strategies - like strategic focus on reducing methane emissions while we navigate this.