Ailing Chicago, the new China shock, what resembles a grave but isn't and fear of peace.
Great links, images and reading from Chartbook Newsletter by Adam Tooze
Ishii Shigeo Fissure
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Chicago to Go Ahead With Plan to Revamp Empty Downtown Towers
Chicago Mayor Brandon Johnson is proceeding with a revamp of empty downtown buildings initially estimated at $1 billion in an effort to counter a commercial real estate crisis that’s cut sale prices by more than 50%. The city, run by a progressive Democrat who’s been in power for less than a year, has been working with developers to refine plans to repurpose buildings along and near LaSalle Street, once known as the Wall Street of Chicago … The mayor has been trying to appease the business community after a rocky start fueled by a series of plans to tax the rich. Just last week he announced plans to boost the Loop, as Chicago’s central business district is known, that include a Chicago Board of Trade museum. He also gave more than $1 million in grants to six downtown restaurants including the storied Ceres Cafe, where dealers used to flock in the heydays of the city’s trading floors.
High interest rates have hurt the property market across the country. In Chicago, fewer than five large office buildings sold last year, with deals struck at losses ranging from 50% to 90%
Source: Bloomberg
Brad Setser on the New China Shock
Source: X
Fentanyl’s horrifying ascent
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Insights From India on Expanding Global Vaccine Production.
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Ishii Shigeo. Decoy (1961). Oil on canvas. 130.8 X 162.2 cm. Nagoya Municipal Museum.
What an absolute beast the Porsche 908 was - the noise is extraordinary.
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Fear of peace- Max Weber on why World War I continued beyond the stalemate of 1915
Anne Boyer, WHAT RESEMBLES THE GRAVE BUT ISN’T
Always falling into a hole, then saying “ok, this is not your grave, get out of this hole,” getting out of the hole which is not the grave, falling into a hole again, saying “ok, this is also not your grave, get out of this hole,” getting out of that hole, falling into another one; sometimes falling into a hole within a hole, or many holes within holes, getting out of them one after the other, then falling again, saying “this is not your grave, get out of the hole”; sometimes being pushed, saying “you can not push me into this hole, it is not my grave,” and getting out defiantly, then falling into a hole again without any pushing; sometimes falling into a set of holes whose structures are predictable, ideological, and long dug, often falling into this set of structural and impersonal holes; sometimes falling into holes with other people, with other people, saying “this is not our mass grave, get out of this hole,” all together getting out of the hole together, hands and legs and arms and human ladders of each other to get out of the hole that is not the mass grave but that will only be gotten out of together; sometimes the willful-falling into a hole which is not the grave because it is easier than not falling into a hole really, but then once in it, realizing it is not the grave, getting out of the hole eventually; sometimes falling into a hole and languishing there for days, weeks, months, years, because while not the grave very difficult, still, to climb out of and you know after this hole there’s just another and another; sometimes surveying the landscape of holes and wishing for a high quality final hole; sometimes thinking of who has fallen into holes which are not graves but might be better if they were; sometimes too ardently contemplating the final hole while trying to avoid the provisional ones; sometimes dutifully falling and getting out, with perfect fortitude, saying “look at the skill and spirit with which I rise from that which resembles the grave but isn’t!”
Ishii Shigeo - Shadow (etching on paper 1960)
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