Maximalism - the art of polycrisis, Subprime Sachs & the China inflation shock
Great links, images and reading from Chartbook Newsletter by Adam Tooze
Austin Martin White
Source: Artsy
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Grim outlook for the UK - according to the IMF
New Mexico has overtaken Mexico as an oil-producer
For subscribers only
German gender pay gap
Women in Germany earned an average of 18% less per hour than men in 2022. The Federal Statistical Office (Destatis) reports that the average gross hourly earnings of women (20.05 euros) were by 4.31 euros lower than those of men (24.36 euros). When examined over a longer period, the unadjusted gender pay gap decreased. When measurement started in 2006, the gender pay gap was 23%. The unadjusted gender pay gap in eastern Germany is still markedly smaller than in western Germany. In 2022 it was 7% in eastern Germany and 19% in western Germany (2006: eastern Germany: 6%, western Germany: 24%).
Source: Destatis
By 2030 spending on renewable energy investment will match the size of the oil market - according to the IEA at least.
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German naturalization law reform
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Whatever you think about the critique of rentiers, the image is impressive.
Source: Henrygeorgedevon
Subprime Sachs
However, Goldman is also having to set aside a far higher proportion of the value of its loans than its peers, suggesting it is lending to the wrong people. In the fourth quarter it made provisions of 13.5% of the loans it issued. That is double the level of Capital One, a subprime lender, which set aside only 7% in the same period.
Source: The Economist
How China’s recovery may affect global inflation
“the difference between China in a lockdown slump and China in a reopening boom is an additional $500 billion in demand — the equivalent of adding the spending power of another Nigeria to the global economy.”
Source: Bloomberg
Maximalism
Source: Capitain Petzel
The bugbear of maximalism—as espoused by Austin Martin White on formal and conceptual levels—the viewer might whine, is that it can be exhausting. Coming to grips with the artist’s idiosyncratic if purposeful method, widescreen historical inquiry, multiple evasions of cliché, and valedictory celebratory attitude to the present felt like watching every firework in the box go bang at once. And White, if you ventured upstairs, still had a bunch of spare-energy ballpoint drawings to show you, plus some densely layered watercolors. But this relentless excessing can be considered its own virtue, a makeshift apocalyptic poetics. What ought painting to look like, at this time of new fears and reborn old ones—revived nuclear forebodings, irreversible climate breakdown, far-right revanchism, disastrous wealth inequality, etc.—no letups, only an eschatological cliff edge to teeter grimly on or boogie off? Maybe like this. Martin Herbert
Source: Art Forum
What Does Writing Smell Like?
Do you have any candles that smell like dead horse?
By Alyssa Brandt Source: New Yorker h/t Becky Conekin
Andrew Cranston, Vague feelings of dread, 2022