New York Times (October 3)
“Hurricanes and recessions are alike in many ways,” and we might be able to understand both better by thinking about the other. Both phenomena “cause enormous damage,” “are hard to predict” and “depend on feedback effects,” but “a recession doesn’t leave yachts stacked up on shore like a child’s toys.” Still, the damage from a recession can be just “as severe and is certainly more widely spread than a hurricane’s. Hang on to your hat.”
Tags: Damage, Enormous damage, Feedback effects, Hang on, Hurricanes, Phenomena, Predict, Recessions, Severe, Understand, Yachts
Washington Post (September 16)
“Japan is inching closer to a full reopening, with an announcement likely in the coming days. But the country’s prolonged closure during the coronavirus pandemic has done lasting damage to its reputation as a destination for international investors, academics and tourists, experts say.”
Tags: Academics, Coronavirus, Damage, Destination, International, Investors, Japan, Pandemic, Prolonged closure, Reopening, Reputation, Tourists
Wall Street Journal (May 13)
“Well, the party was fun while it lasted. But now the liquidity tidal wave is crashing as it always does when credit conditions tighten. This week’s crypto-currency crash is the first body exposed on the beach, and let’s hope the damage doesn’t spread too far into the financial system and broader economy.”
Tags: Broader economy, Crash, Credit, Crypto-currency, Damage, Financial system, Liquidity, Party, Spread, Tidal wave, Tighten
Bloomberg (October 1)
“The Evergrande fear has receded too easily for comfort… Even without a crisis, the stricken developer will do significant damage to a Chinese economy that already appeared to be slowing.”
New York Times (October 1)
“As species disappear and the complex relationships between living things and systems become frayed and broken, the growing damage to the world’s biodiversity presents dire risks to human societies.” We are living through “one of the most explosive extinction episodes in history” with plant and animal extinction occurring “an estimated 1,000 times faster than natural rates.” Our course is unsustainable. “It is much less costly to protect and conserve nature than it is to restore it or suffer the consequences of its destruction.”
Tags: Animal, Biodiversity, Complex, Consequences, Conserve, Damage, Destruction, Disappear, Extinction, Plant, Protect, Relationships, Restore, Risks, Species
The Economist (January 30)
“No part of the world matters more to America’s interests than Asia, and no part stands to lose so much from an American retreat.” As he sets about repairing four years of Trump damage, Joe Biden will find many receptive. “None of China’s neighbours wants it to call all the military and economic shots,” but “the trick for President Joe Biden will be to restore faith in America without asking Asian countries to take its side openly against China.”
Tags: Asia, Biden, China, Damage, Economic shots, Interests, Military, Receptive, Repairing, Restore, Retreat, Trump, U.S.
Reuters (December 13)
“A final Brexit without a trade deal would damage the economies of Europe, send shockwaves through financial markets, snarl borders and sow chaos through the delicate supply chains across Europe and beyond.” British Prime Minister Boris Johnson and EU Commission President Ursula von der Leyen agreed to extend talks beyond Sunday. “With a succession of deadlines missed, time is now critically short.”
Tags: Borders Chaos, Brexit, Damage, Europe, Financial markets, Johnson, Leyen, Shockwaves, Supply chains, Trade deal, UK
Wall Street Journal (March 4)
“The Federal Reserve has become the default doctor for whatever ails the U.S. economy, and on Tuesday the financial physician applied what it hopes will be monetary balm for the economic damage from the coronavirus.” Alas “financial markets were underwhelmed.” This “may speak to the limited effect that lower interest rates can have on the supply shock of a pandemic.”
Tags: Coronavirus, Damage, Economy, Fed, Interest rates, Markets, Monetary balm, Supply shock, U.S., Underwhelmed
Reuters (November 29)
“European investors managing assets worth more than 1 trillion pounds ($1.28 trillion) are pressing top auditors to take urgent action on climate-related risks, warning that failure to do so could do more damage than the financial crisis.” The investors assert that the Big Four audit firms “are not giving enough weight to a potentially rapid transition towards a low-carbon future as governments implement the 2015 Paris Agreement to curb climate change.”
Tags: Assets, Auditors, Big Four, Climate change, Damage, Europe, Financial Crisis, Investors, Low-carbon future, Paris Agreement, Risks
Wall Street Journal (November 1)
In the U.S., “GDP growth accelerated to 3% for a time along with investment, but then came Mr. Trump’s trade interventions. More than the damage from tariffs, business confidence fell amid the uncertainty of what Mr. Trump might do next. This has led to slower growth that is reflected in roughly 2% GDP growth in the last two quarters…. The strong evidence is that trade policy is the main growth culprit.”
Tags: Business confidence, Culprit, Damage, GDP, Growth, Interventions, Investment, Tariffs, Trade, Trump, U.S., Uncertainty
