Columnist at Bloomberg Opinion. Previously editor-in-chief of Handelsblatt Global; 20 years at The Economist. Author of "Hannibal and Me." Opinions are my own.
In deciding when the time has come to offer Putin "negotiations," Western leaders should listen to the Estonians, not the French via
@opinion
@kajakallas
1/8 One year ago, the left-leaning government of Berlin introduced unprecedented rent controls.
Lots of economists warned against it.
So what do the numbers say now?
A thread.
#Mietendeckel
@bopinion
7/8 Result:
One group gets a windfall: Tenants already in rent-controlled units, even rich ones.
All others lose, including the young and new residents, who can’t find a decent place to live.
#Mietendeckel
= disaster.
@bopinion
5/8 The disaster becomes clear in the next two charts.
Tenants in rent-controlled apartments no longer move.
When they still do, landlords sell rather than re-let.
➡️Supply (listings) of regulated flats has frozen up.
#Mietendeckel
@bopinion
2/8 The legislation split Berlin’s housing:
- Regulated and capped (built before 2014)
- Unregulated (built since 2014).
In the regulated market, as expected, rents plummeted, relative to those in other cities:
#Mietendeckel
@bopinion
6/8 But people in newer apartments also don’t want to move (where to?).
So supply in the unregulated market can’t increase fast enough.
#Mietendeckel
@bopinion
4/8 The value of regulated apartments dropped in relative terms. (Less profitable.)
The value of unregulated units rose, but not dramatically:
Anxiety that rent controls could be extended to younger buildings.
#Mietendeckel
@bopinion
Germany: "Putin’s not that bad. OK, he did something bad again, but he won’t go further. OK, he did go further, but we’ll impose sanctions for while. OK, the sanctions didn’t work, let’s drop them."
Having just watched her presser, I can yet again say this about Angela Merkel: She is almost certainly the most dignified world leader today, or in my life time. May she set an example.
#Merkel
@HandelsblattGE
Olaf Scholz is dithering on arming Ukraine and boycotting Russia. Even coalition partners, not to mention allies, are irate. Time for the chancellor to lead via
@bopinion
Olga Kharlan, a Ukrainian fencing star, was right not to shake hands with her defeated Russian opponent, and shouldn't have been disqualified
#Kharlan
via
@opinion
A plea to Janet Yellen: There are simple tweaks to US expat tax rules that would cost the Treasury nothing in lost revenue, save it a packet in enforcement expense & make 9 million people's lives much easier.
@janetyellen
@ExpatriationLaw
#FATCA
@bopinion
'Merkel, like Chamberlain, now stands for appeasement. Her most unforgivable failure was that — if she already understood the threat from Putin as she claims — she did not explain the danger.'
@opinion
#Merkel
We've assumed for a year that the pandemic will end at some point and then we’ll go “back to normal.” This premise is almost certainly wrong. via
@bopinion
Today the real, the personal, news is at the very end. Yup, the mothership is shutting us down. But we ain't gone yet. To the team
@HandelsblattGE
past and present: You have been and are great. Great! I love you.
Thread: Germany is just as divided as the U.S., as the following four maps show.
But German democracy deals with its fault lines differently.
1/5
@bopinion
#btw21
Germans and Americans tend to drive each other crazy, especially when negotiating. (As a German-American, I even drive myself crazy when I'm alone.)
@JohnOttoMagge
in his second piece in a series, explains what's going on culturally
U.S. expats aren't renouncing their citizenship because of Trump, they're doing it because of the nightmare of American tax rules, says
@andreaskluth
via
@bopinion
"The German debate about nuclear energy is less a policy discussion than a religious war — not unlike the American debates about guns or abortion..." via
@opinion
The background of innovators such as BioNTech's founders shouldn't matter. But the disproportionate success of immigrants in science and technology is noteworthy. via
@bopinion
Judge
#Merkel
by her vision or her reforms, and she’s a failure. Apply a subtler standard, and she’s historic. My longread on her legacy. via
@bopinion
English speakers have many names for the future. Germans have just one, and it is banal:
#Digitalisierung
That's one reason why
#Germany
is behind, and may stay there.
If all countries face the same planetary emergency, will they have to intervene in states that don't cooperate?
That would mean the end of "Westphalian sovereignty"
via
@bopinion
#COP26
Germany during the Thirty Years' War looked eerily like the Middle East and Syria today. Here's what that means for a new Westphalian Peace.
@HandelsblattGE
Too bad
@n_roettgen
is out in the first round of
#CDU
voting. He was the coolest of the 3, the most intellectual, and he would have deserved the career comeback
Kamala Harris just showed a global audience that she could be a strong commander-in-chief and world leader. It makes me wonder why she shouldn’t have a go at it already. via
@opinion
#MSC2024
Watching Elon Musk and Armin Laschet give a press conference outside Tesla's Gigafactory site. Wow, it's as if they'd read ... this.
#Musk
#Laschet
@bopinion
Putin likes to remember a time he accidentally cornered a rat. That anecdote matters as we think about what he could do next via
@bopinion
#Ukraine
#Putin
To Germans,
#Brexit
Britain "just looks unstable, possibly mad, or even suicidal and beyond saving. But all this doesn’t touch Germans directly. Now, when it comes to France, however,..."
@HandelsblattGE
One year ago today, I wrote this. And I'm still pondering the "deep-seated differences between German and Anglo-Saxon storytelling" every day...
#journalism
This pandemic won’t end with a made-for-television big bang. It’ll be managed patiently into remission. And that plays to Germany's strengths via
@bopinion
Americans, Poles, Balts and other allies are again wondering whether Germany is a reliable partner. If Olaf Scholz doesn't commit, he'll fail as chancellor via
@opinion
#Leopard2
A brick is about to land on the platform above this stormtrooper's head. You can add or take away Lego pieces to stop the platform caving in on him. What do you do?
Your answer reveals something about the human brain.
@bopinion
@GabeAdams
Kanye West is a symptom of the reverse Voldemort effect: Hitler's become "he who must be named." We've dumbed down history to the point of moral nihilism via
@opinion
#Hitler
#KanyeWest
"Few Germans noticed how arrogant they appeared to allies and others, how tin-eared and insensitive... These Sonderwege were really symptoms of a profound provincialism in German politics and society" via
@bopinion
“Compared to how Germany’s constitutional judges are elected, the election of the pope is a paragon of transparency and democracy.” Still, not as bad as Poland and the US.
@JMHauteville
@HandelsblattGE
With the largest police raid in postwar history, the Germans have apparently disrupted plans for a full-bore putsch. Let that be a lesson for all democracies via
@opinion
#Reichsbuerger
Ukrainians are fighting for their freedom with their very lives. Germans are being asked to slow down on the highway. It's not too much to ask
#Autobahn
#tempolimit
via
@opinion
Putin may have survived this weekend’s mutiny, but his reaction has planted the idea of his impotence in the minds of Russians and the world via
@opinion
#Putin
#Prigozhin