The Archbishop of Bologna

The Archbishop of Bologna

@metaphorge.bsky.social

Do I contradict myself? Very well then I contradict myself, (I am large; 413 error.)

485 Followers 655 Following 2,403 Posts Joined Jul 2023
11 hours ago

Black immigrants are about 5% of the people in ICE detention but this year they represent nearly one in five deaths. The gap raises serious questions about the treatment of Black migrants- make it make sense @velshi.com @urbanviewradio.bsky.social @haitianbridge.bsky.social @keithboykin.bsky.social

100 42 2 1
9 hours ago
Post image

Did you say “lethality”?

6 2 0 0
8 hours ago
Preview
Wall Street Bankers Offered Lucrative Access to Join the Pentagon

A Pentagon recruiter openly offers corruption: “unmatched access to top-level government officials and privileged information flow — whatever you need, you can get.”

www.nytimes.com/2026/03/13/u...

2,104 1,153 101 80
8 hours ago

This is a true story. I was a guest of a con in Niagara Falls, and they picked us up in the same van as Michael.

For two hours, he entertained us on the drive and it was remarkable. He was hilarious and kind and inexhaustible. And he can SING.

280 25 9 1
9 hours ago
George Galloway: “I have been assailed all day by a “children’s book community” so vile and vicious I’m amazed they even let them near kids #redmolucca”. He was retweeted five times. An account named @winnie_the_pooh, not believed to be connected either to the Disney corporation or the estate of A A Milne, responded with one word: “Tosser.” and was RTed 213 times by the time this well-worn screenshot was taken, perhaps more afterwards

Well, if it’s 14 March, that can only mean... naturally: the ninth anniversary of one of the finest exchanges from The Old Place

544 157 4 2
10 hours ago
Video thumbnail

"You kind of have some pretty serious matters here... oil prices are skyrocketing, your troops are dying and are being injured—maybe the TV chyron isn't your top concern in you're Secretary of War right now. But you're a TV host, so."

Tim Miller reacts to Pete Hegseth's media tantrum.

249 56 7 4
15 hours ago

Oh, I forgot to add, even if you impose a hard blockade on Iran's coasts, they can bring in key weapons and components via land borders with Pakistan, Turkmenistan, Azerbaijan, via the Caspian Sea, etc.

Can they run all their trade that way? No.

Import the chips for shaheds? Yeah, probably.

265 5 10 1
15 hours ago

So honestly...if you were a member of the Iranian regime, the bet that you can outlast Trump - that you are willing to endure bombs and blockade longer than the American public will accept $100 a barrel (or $150 or $200) oil...that looks like a pretty likely bet.

360 36 6 3
15 hours ago

The tl;dr is that Iran probably isn't going anywhere. This war will be hugely costly for the regime and the Iranian people, they will bear its costs for years, maybe decades.

But the Iranian regime can probably soldier on here for *years.*

237 13 1 2
15 hours ago

In short, there is a *lot* of ruin in a country.

While a bloody nose can convince an imperial power to give up an imperial venture, it takes spectacular amounts of pressure to get a country to buckle if it things the state's entire existence is at risk.

Or you can invade. 🤷‍♂️

225 9 1 2
15 hours ago

If they need Chinese drone components, they'll bring them by ship via ports like Jask (outside the strait), burning debt and forex to do it, while restricting other imports.

The IRGC already owns most of their economy, so those businesses will keep operating even on funny money.

159 3 1 0
15 hours ago

I am sure that some fancy analyst in the DoD has worked out a very precise estimate for how long Iran can keep the wheels turning, but I would be shocked if it were less than a couple of years.

The key weapons for closing the strait they all make mostly internally, so forex won't stop them.

189 8 2 0
15 hours ago

Countries at war generally are going to use basically all of these strategies - with a liberal admixture of whatever shenanigans they can think up - to keep the wheels turning.

Countries in existential wars are also willing to just run shortages. No food in stores, certain weapons unavailable.

167 4 1 0
15 hours ago

You might also lean on allies to 'loan' you the military equipment, with promises (rarely kept) to pay them back later, because you are fighting shared enemies.

I cannot imagine Iran will have much luck here - China is uninterested in sacrificing for anyone else ever and Russia can't afford it.

170 4 5 0
15 hours ago

Iran's foreign exchange reserves last I saw were around $24bn. Enough to keep normal buying going for half a year, but in war time with anything not war essential controlled out, they could probably stretch that.

157 4 2 0
15 hours ago

The other option is to burn down your foreign exchange reserves (forex) - because you keep a war chest for this.

Russia quite famously did this prior to the 2022 Ukraine War, although a fair bit of their forex was in places NATO could seize (whoopsies).

185 2 1 0
15 hours ago

...the next option is debt.

There's a war on, the regime is imperiled, everyone making decisions is going to die or be poor or die poor if you lose, so there's no reason not to go ham on debt, you'll pay a fortune in interest but that beats dying.

Still, debt financing in war is hard.

177 3 2 0
15 hours ago

Iran's advantage here is that given the current conditions, in a lot of cases its people couldn't import that stuff even if they wanted to, because of the whole...war...on.

If you are still negative - because exports are way down or you are trying to import (buy) expensive things like bombs...

171 2 1 0
15 hours ago

For a country whose war effort is burning cash, to keep key imports flowing, you have some options.

Option 1: restrict imports to key things. You tell the public they can't have nice consumer goods (there's a war on!) and you can use currency controls to try to make it stick.

178 2 1 0
15 hours ago

For those external transactions, you need foreign exchange to make them work.

The first option is obviously to get that with trade (and investment) as in peace time. Iran normally imports around $50bn and exports $100bn per year.

Obviously both of those figures will now be lower.

178 2 1 0
15 hours ago

The harder part is *external* transactions.

But it is worth keeping in mind that, whereas for a household or a company, nearly all real transactions are external, for large countries a lot of their transactions are internal.

Iran is pretty trade dependent, but half its economy is purely internal.

210 6 1 0
15 hours ago

The upshot is that *internally* so long as the actual physical labor and raw materials are available in the country, the war machine will not stop for balance-sheet reasons if the state feels existentially threatened because in that case the state will eat whatever costs are required.

270 15 2 0
15 hours ago

There is no free lunch, all of these approaches entail costs but you can spend down pretty hard in all of these categories - defer maintenance, delay salaries, simply burn through private balance sheets.

Or print the money and eat the inflation.

225 2 1 0
15 hours ago

Of course they can print money (and eat the inflation), but they can use a wave of patriotism to issue bonds; they can also compel internal banks and individuals to 'lend' them money, they can force domestic companies to operate below-cost or 'contribute' reserves to the war effort.

228 3 1 0
15 hours ago

The first thing you need to separate is the *internal* economy of a country, which runs on its own currency and the *external* economy of the country.

Because a state *internally* taxes, spends and borrows in their own currency, it is really, really hard for them to run out of money.

252 3 1 1
15 hours ago

This is a good question to address, actually.

There's often an intuitive assumption that when a country runs out of money, its war effort will grind to a halt. That's how households and (sometimes) companies work.

But those assumptions are really frequently frustrated - countries can push on.

514 101 10 22
12 hours ago
Preview
Cookie Cutter

‘“One of the things that was really notable were these circular scars, which are remnants from cookie-cutter shark bites,” said Gary Sutton, a whale researcher with the Vancouver-based nonprofit Ocean Wise.’

ocean.si.edu/ocean-life/s...

15 1 2 0
12 hours ago

👀

0 0 0 0
7 months ago

Only kids subjected to WWII-style food rationing would sell their entire family out for Turkish Delight, as I will show in this five part essay....

19 2 0 0
7 months ago

90s and 2000s Pevensies sounds terrible.

Like, who is that even for?

10 1 0 0