“There is an important message behind the joint intervention on the yen … selling euros … Washington is reluctant to see foreign central banks use their dollar reserves … The bottom line is that … the dollar is not the attractive reserve currency it once was.” By @b-eichengreen.bsky.social

The real message in the yen intervention

The dollar’s status as a reserve currency is not what it used to be

ft.com

Dani Rodrik @drodrik.bsky.social on the Future of the Left: “Whether we like it or not, the future of jobs lies in largely non-traded, labour absorbing activities such as retail, food services, hospitality, care and other personal services. The Left cannot evade this reality.” …

The Left must focus on where the jobs will be, not where it wishes they would be

A series on the politics of production.

open.substack.com

“Meloni is set to grant work a permits to a similar number of people [as Spain] by 2028 under a programme to hire foreign workers …Germany launched a policy for people who had so-called tolerated status offering them a more stable permit for 18 months. Some 90,800 people have received this permit.”

Este titular de Àngels Piñol en @elpais.com me parece muy desafortundado. El túnel será el de los amnistiados, los demás corremos el riesgo evidente de que se envalentonen y vuelvan a las andadas. Así que ojo, que no sea un tren en sentido contrario…

Cataluña otea el final del túnel tras la aplicación de la amnistía a casi una veintena de encausados

El proceso culminará con el regreso definitivo de Carles Puigdemont, que sacudirá el mapa político y que sigue siendo una incógnita

elpais.com

“… una derrota aplastante de Donald Trump en las elecciones de mitad de mandato de noviembre es lo que hace falta para que el país empiece a enmendar el deterioro de la democracia … Lo que está en juego no es el futuro del Partido Demócrata, sino el futuro de la democracia.” @fromtga.bsky.social

Los estadounidenses tienen menos de cien días para salvar su democracia

Una avalancha al estilo húngaro es lo único que podrá desbaratar los intentos de Donald Trump de amañar las elecciones de mitad de mandato

elpais.com

“Reactions of European capitals to the Ceuta influx were ill-informed ... seem to ignore that Ceuta is de facto outside the Schengen zone … When Belarus weaponised irregular migrant flows into Poland in 2021, the EU pledged full solidarity. Now Spain is being blamed by its EU friends.” By Ben Hall

Europe’s weak reaction to Spain’s migrant crisis

Pedro Sánchez is being unfairly singled out for a liberal immigration policy

ft.com

"Burnham will now have to deal with many of the same obstacles that handicapped Starmer’s government ... : stagnant living standards; a largely hostile press; political challenges from the right and the left; a hefty budget deficit; and wary financial markets". By @johncassidysays.bsky.social

Can Andy Burnham’s Manchesterism Save the U.K.’s Center Left?

With a populist touch, and a focus on affordability and raising up left-behind communities, Britain’s new Prime Minister has drawn comparisons to Zohran Mamdani.

newyorker.com

Lionel Barber, back in 2018: “I still believe in the value and future of print: the smart, edited snapshot of the news, with intelligent analysis and authoritative commentary. In the age of information overload, there has to be a place in the market for print, especially at the weekend.”

Too big to fail: FT editor Lionel Barber on the future of financial journalism

Transcript of a speech given for the James Cameron Memorial Lecture

ft.com

"¿Y las sirenas? Las puede representar la joven italiana que chapoteaba el otro día en las playas del Vogamarí tocada con un extravagante casquete de espejitos que nimbaba su cuerpo de una deslumbrante iridiscencia sobrenatural. “¡Ven, acércate, muy famoso Odiseo, gran gloria de los aqueos!” Jacinto

Lestrigones, feacios y sirenas de Formentera

La isla presenta diferentes caras -depredadora, amable o seductora- según el momento y la suerte

elpais.com

“So what EU governments, and others, must do is not just contemplate tariffs, but the nature of their industrial policies too. Supporting farmers while cutting funding for science, say, is mad. So is failing to invest in a joined-up electricity grid or worker training.” By @gilliantett.bsky.social

China is smarter about subsidies than everybody else

Beijing is stealing a march on its competitors by targeting strategic sectors

ft.com

Este titular me ha resultado confuso. No es que Tuio pueda rebajar precios por usar IA para reducir sus costes y así ganar eficiencia, es que tiene un acuerdo con OpenAI para ofrecer presupuestos de seguros de hogar a través de ChatGPT. A fin de cuentas la “integración con IA” es simple publicidad.

Mapfre compra el 39% de su rival Tuio, que ofrece precios de derribo gracias a la inteligencia artificial

La primera aseguradora española entra en el capital de la firma creada por los fundadores de Indexa

cincodias.elpais.com

“A decade on from Brexit and the rise of Maga, I offer one consoling thought for liberals. Populism will eat itself. More than that, populism must eat itself …There is no more effective strategy against populists than waiting for them to split. I realise how discouraging this sounds” By Janan Ganesh

Populism will eat itself

A movement that admires belligerence and confrontation will turn on its own in the end

ft.com

“Three messages follow for the debate on completing the banking union ... 1st, the binding constraint is the extensive margin. 2nd these barriers correlate with regulatory differences. 3rd completing the union can deliver meaningful output gains.” By D. Capelle, A. Fernandes, J.J. Krüger, P.McAdam

Why Europe's banks stay home: Regulatory fragmentation and the cost of an incomplete banking union

Despite major institutional reforms, the European Banking Union remains incomplete. Banking markets remain fragmented along national lines, which constrains Europe’s growth potential. This column uses...

cepr.org

“The results suggest that bureaucracy matters. In countries and states with career civil‐service protections, the usual drag of populist governance [on economic growth] largely vanishes. But without those institutional cushions, the economy takes a hit.” By M. Morelli, D. Petrukhin & M. Vannoni

Don’t drain the swamp! Populism, bureaucracy, and economic performance

Populist leaders increasingly cast public sector experts, oversight bodies, and career civil servants as illegitimate ‘elites’ standing in the way of the popular will. But bureaucratic institutions ma...

cepr.org

“China’s vision of providing … leadership while defending free trade … rings hollow if it fails to tackle its homegrown problems, and continues to count on the rest of the world to keep its own economy afloat. China’s future depends on its leaders acting decisively. And soon.” By Eswar Prasad

China needs a new growth model

This matters for Beijing’s sake and for the rest of the world economy

ft.com

Mi contribución al civismo de hoy, quitar pegatinas promoviendo una manifestación de Aliança Catalana de bicis de Bicing. Chavales, eviten los grupos de odio, sean este o Vox o MAGA o lo que sea. Los inmigrantes no son el enemigo.

@rafademiguel.bsky.social , escribes hoy en @elpais.com que “George W. Bush … superó su alcoholismo a base de una fe exhibicionista.” Puede, pero parece que ahí iría un ‘evangelista’, no? elpais.com/internaciona...

Andy Burnham, un católico en la corte anglicana de Carlos III

Ningún miembro de la Iglesia de Roma había ocupado hasta hoy Downing Street. El nuevo primer ministro admite que su educación religiosa influye en su política social

elpais.com

“Espanya va jugar encara millor que al 2010, i per a molts, no només per a mi, ha representat uns valors molt diferents dels que es desprenen del comportament de Trump i Infantino, els infames organitzadors del Mundial, i símbols d’un món que va pel camí equivocat.” @francesctrillas.bsky.social

Muy bueno esto de @manuelvgomez.bsky.social sobre el contexto y las implicaciones de la multa de DG Comp a Google, con opiniones de Pablo Ibáñez Colomo y @proffionasm.bsky.social . Ojalá todos los medios cubrieran los temas de competencia con esta profundidad. elpais.com/economia/202...

Bruselas versus Google: una lucha de casi 10 años con más de 10.000 millones en multas bajo la presión de Trump

La empresa del grupo Alphabet es la que acumula las sanciones más elevadas por conductas contra la competencia en la UE

elpais.com

“I think you have a view of the Economist that is not entirely accurate” . 👏👏

Matt Novak@paleofuture.bsky.social · 2w ago

My favorite part is when Musk says more Europeans die from heat than Americans die from guns. Musk asks why The Economist doesn't write about air conditioning. She explains they do. "Pro-air conditioning?” asks Musk. “Very pro-air conditioning,” she responds. “You should read us sometime.”

Great piece by @rosehorowitch.bsky.social in @theatlantic.com on the decline of reading and the dire implications of a postliterate age, which include the rise of populism. Worrying qualification of McLuhan quote: The liberal world by definition is literate: “The inverse appears to be true as well.”

The End of Reading Is Here

Optimists once believed that universal literacy was inevitable. Now it seems that the age of reading might be a short anomaly in human history.

theatlantic.com

In the view of American consumer socialists, “high prices are not market failures but moral ones, the result of greed and corruption, which can be vanquished with the right intention. The ideal state is a kind of Lake Wobegon, where every price is below average”. By Idrees Kahloon @theatlantic.com

The ‘Consumer Socialism’ Trap

The wrong way to solve the affordability crisis

theatlantic.com

Pues acabo de descubrir que el gran @andrea-rizzi.bsky.social ha tenido media hora semanal en Hora 25 durante todo el año. Hoy ha sido el último programa. Aquí los anteriores: cadenaser.com/podcast/cade...

SER Podcast: Escucha el podcast de Coordenada 25

Los analistas de Hora 25 dan las claves de la actualidad y nos ayudan a situar el escenario político, económico y social en el que nos movemos

cadenaser.com

Acabamos de celebrar un mundial de fútbol en un país con campos de concentración. Es posible que dentro de unos años lo asimilemos a los Juegos Olímpicos de Berlín en 1936.

Indivisible ❌👑@indivisible.org · 2w ago

🚨 ICE just published their recent numbers and it's worse than we thought. JUNE: ICE and CBP took 43,138 people. That works out to 1,474 of our neighbors every single day. JULY: 65,765 people are now inside US concentration camps.

“Nobody knows for certain what might trigger the corrections. But we can see plenty of opportunities for destabilising shocks in which a stock market plunge is just one part of a bigger story”: lost stabilising US hegemon, high public and private debt, and rule of law under attack. By Martin Wolf.

Hay una diferencia interesante en cómo han afrontado la final los dos países. En Argentina se decretó que el lunes sería festivo (feriado) desde antes del partido. En España, en principio, todo el mundo irá hoy a trabajar hoy (algunos con resaca).

“Most Americans would equate mediocrity with laziness or complacency. But mediocracy is not an endorsement of failure. Rather, it is the deliberate choice to structure society in order to avoid American-style inequalities in wealth and status.“ By Jinu Koola.

The Norwegian case for mediocracy

What happened when an aspiring American tiger mom came face to face with Norway’s ‘good enough’ model

ft.com

Amazingly bad service of urban buses in Florence today. 8:36, 8:48 & 9:01 #7 bus from piazza Libertà simply supressed. No info, no alternatives. And, of course, a waiting bus stopped nearby for the last half hour. #autolineetoscane

“España, según el primer Atlas Mundial de paliativos, tiene fortalezas en el marco normativo y político, el acceso a medicamentos esenciales, … pero existe una gran desigualdad territorial, ya que la calidad de los servicios varía mucho en función de la comunidad autónoma.” Pues no debería ser así.

Morir en la quinta planta del Gregorio Marañón: “Aquí me dan paz y amor”

Javier del Río es paciente de paliativos en el hospital madrileño, centro de referencia para el final de la vida. En dos meses de estancia, además de la ayuda para que su dolor sea más llevadero, ha r...

elpais.com

“Will this brazen culture become an accepted standard, normalising the use of public office for private gain? Or will the country respond by erecting stronger safeguards? If the Democrats were smart, this and not anti-capitalism would be their focus in November.” By Alec Russell.

Conflicts of interest are back — and more blatant than ever

Democrats would do well to focus their fire on the use of public office by Donald Trump’s circle for private gain

ft.com