Rob Hawcroft retweeted
The Muslim Brotherhood’s army propaganda machine urged Sudanese to return from Egypt, selling them the dream of a liberated Khartoum.
Now they face endless fuel queues, soaring prices, unaffordable healthcare, and insecurity.
You can’t feed a family with propaganda. Burhan may win battles for the Muslim Brotherhood, but hunger doesn’t believe in victory speeches.
#KeepEyesOnSudan #Sudan
Rob Hawcroft retweeted
EM exceptionalism isn't a hot take. It's low government debt, less levered financial institutions, independent central banks and often commodity revenues. The only heterodox part is that it's about EM.
Rob Hawcroft retweeted
Replying to @andyburnham
You just seen to be more and more out of your depth with every but of desperate crap you post.
Rob Hawcroft retweeted
Isaias May Have Made the Move Abiy Was Waiting For
Deutsche Welle reports that Eritrean troops are moving deeper into central Tigray, marking a major escalation in a conflict increasingly drawing Ethiopia and Eritrea toward direct confrontation.
So far, Abiy has restrained Ethiopian forces from directly engaging Eritrean troops crossing the border, despite the sharp rhetorical escalation between Addis Ababa and Asmara. He also refrained from using airpower against TPLF leaders who fled into Eritrea. If he was waiting for Isaias to make the first unmistakable move, that moment may now have arrived.
Isaias appears to have moved first despite explicit warnings from the United States and the European Union, both of which have called for respect for Ethiopia’s territorial integrity and urged external actors to avoid steps that could widen the war.
If Eritrean forces are now operating openly deeper inside Ethiopian territory, it will become increasingly difficult for the international community to demand restraint from Addis Ababa without acknowledging Ethiopia’s right to defend its territory. Continued restraint could also become politically and militarily difficult for Abiy if Eritrean forces keep advancing while Ethiopian forces are ordered not to engage them.
A direct Ethiopia–Eritrea confrontation is therefore becoming increasingly difficult to avoid. The longer Eritrean forces remain or advance inside Ethiopian territory, the greater the pressure on Addis Ababa to respond militarily.
The Ethiopian parliament may therefore soon be pushed to consider a formal declaration of war.
Rob Hawcroft retweeted
A younger Jeffrey Archer would be much more successful in politics in a post-truth age
Rob Hawcroft retweeted
An industry friend, Roger Ohan, has recently published this book - arguing that we should look at the totality of the impact of government policy on a nations net worth, not just fixate on the quarterly GDP number
@Brad_Setser @michaelxpettis @sobel_mark
amazon.co.uk/Ledger-Importan…
If you lose control of inflation, how long does it take to normalise? The chart shows 20-40% annual inflation & the time taken to bring it back down to single digits.
Structural factors & political trade-offs make it hard to remove the underlying causes of the inflation quickly.
Rob Hawcroft retweeted
Decent flows, noting that Iraq is exporting more than its production less refining runs which suggests some oil mysteriously appeared in their country ;)
What if monetary velocity is picking up and a 100-200bps hiking cycle by the Fed fails to bring inflation down as the higher USG deficits represent higher income to the private sector and there is less direct rates transmission to the private sector than in the past? 🤔
Rob Hawcroft retweeted
مسؤولية القيادة وصمت القرار: قراءة في تصريحات د. علاء نقد وزير الصحة في حكومة السلام
"من المستحيل أن يكون البرهان على غير علم بما يحدث. البرهان هو الراعي الرسمي لهذه الجريمة، وقد ثبت ذلك من خلال تصريح ياسر العطاء عندما قال إن قائد الجيش سمح لنا باستخدام كل القوة المميتة والقصوى، وهذا موثق في مقطع فيديو انتشر بشكل واسع على وسائل الإعلام. وهذا إذن واضح."
التصريحات الأخيرة للدكتور علاء نقد، وزير الصحة، تساؤلات جوهرية حول هيكل المسؤولية القيادية والمحاسبة الأخلاقية والقانونية في زمن النزاعات المسلحة. فاستشهاده بحديث الفريق أول ياسر العطاء حول منح الضوء الأخضر لاستخدام "أقصى درجات القوة المميتة" لا يقف عند حدود السجال السياسي، بل يمتد ليعيد تعريف العلاقة بين القرار العسكري والنتائج الميدانية.
تعتمد قراءة د. نقد على مبدأ قانوني وسياسي راسخ: تلازم السلطة والمسؤولية. فالافتراض بأن رأس الهرم القيادي بمعزل عما يدور الميدان يسقط أمام التسلسلات الهيكلية للمؤسسات العسكرية، ناهيك عن التوثيق الإعلامي والتصريحات العلنية التي تجعل من القوة المفرطة خياراً متبنى ومجازاً بشكل رسمي.
إن خطورة هذا المشهد لا تكمن فقط في حجم الدمار الناجم عن "القوة المميتة"، بل في الغطاء السلوكي والمؤسسي الذي يُمنح لمنفذي هذه الأوامر. وعندما تتحول التوجيهات العسكرية العليا إلى وثائق مشاعة ومقاطع متداولة، فإن التسويغ الداخلي لانتهاك المعايير الإنسانية يصبح أمراً واقعاً.
في النهاية، تظل المحاسبة التاريخية والقانونية لا تفرق بين من يضغط على الزناد ومن يصدر الأمر أو يبارك فعله. وموقف د. علاء نقد يضع الجميع أمام حقيقة واحدة: الأفعال الميدانية في أوقات الأزمات ليست مجرد تصرفات فردية، بل هي انعكاس مباشر لإرادة القيادة ورعايتها.
#ادراك
Rob Hawcroft retweeted
Imagine JPow waking up, middle of the night, in a cold sweat, as it dawns on him that that nagging unease was actually the beginning of realising that the next move is a hike, and neither the market nor Trump have figured it out yet...
An industry friend, Roger Ohan, has recently published this book - arguing that we should look at the totality of the impact of government policy on a nations net worth, not just fixate on the quarterly GDP number
@Brad_Setser @michaelxpettis @sobel_mark
amazon.co.uk/Ledger-Importan…
If looking at a company you would not just look at turnover (GDP), but would review income, balance sheet, cash flow, indebtedness, investment & trends over time to see if business value is increasing
So why not do it at a govt level and why fixate on a simplistic GDP headline?
Rob Hawcroft retweeted
Scotty just got scolded by Druck in the WSJ.
Where did I see a similar meme before? 🤭🤭🤭
“The Greatest Regime Shift of Our Generation”
Given the latest intervention by Bessent, I have unlocked this extremely important article.
Do give it a read.
It might save your portfolio one day.
🥹🌳🙏
shrubstack.com/p/the-greates…


























