BC ECONOMY
Saved by @Alex1Powell

EVs DO NOT EMIT MORE PM

Recently @OECD published a report about particulate matter (PM) from road transport. Newspaper headlines blared that electric vehicles where worse than combustion vehicles. That conclusion was wrong according to the report itself.

Let me show you.

 The report (published december 7) can be found here: https://t.co/1HpicKexOt
It's main point is well taken: as cars get cleaner, fine particles emitted by brakes, tires and road surfaces will become more important.
The table comparing electric and combustion engines is on page 92. I took averages of low and high values to get the graph in the first tweet.
I merely took the averages. To get this.
I think it is a terrific report that pulls together a LOT of literature on fine particles that cars spew into the air and that make us sick.

We have ignored this problem for too long, and there's more here than simply exhaust!
I have just two gripes with the article:

1) Electric vehicle weight
It estimates batteries at 10 kg/kWh when in reality it's already below half of that. So it makes electric vehicles much too heavy and doesn't take into account that in 2030 they will be much lighter still.
2) Simply comparing grams
We know that the stuff that comes out of the exhaust pipe is really bad for your health.

How that compares to sand and rubber from the road (gram for gram and particle for particle) is still completely unclear. They state this clearly themselves.
We know that a lot of the stuff in there can be bad for your health (see table).

But how much is how bad and what is the impact of particle size? For the stuff that's not from the exhaust we basically have no idea.
These studies about road dust are the closest the report comes to quantifying this but as you can see it's a mess.
Even how vehicle characteristics influence PM is only very vaguely know.
So for me the summary:

We know particles emitted from the road and the wheels of cars make us sick but that's about it. More research is urgently needed so we can avoid millions of deaths.
And there is a LOT we can do!

By switching to electric vehicles we are probably eliminating some of the most harmful emissions (from tailpipes and brake pads).

We could try to make tires more wear resistant (probably not a top priority of manufacturers).
We can find out what materials in tires are worst and leave them out.

We can construct roads in a way that traps part of the particles or we might even vacuum them up before they are released out into the open.https://t.co/mxA62vhuDG
Most importantly we should use lighter cars. So a monster like this Cybertruck certainly doesn't make your neighborhood safer or healthier.
Bottom line: electric cars are less bad for the climate and air quality than regular cars, but once they eliminate tailpipe and brake pad emissions we should focus on emissions from tires and roads. And that's almost virgin territory. Time to get to work on that!

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Some drivers, sadly not an insignificant number, decided they needed to get past more quickly and more slowly than was safe. Where were they all going to and why the need to be so impatient? It's not like there is anything to get to quickly at the moment.

Drivers coming the other way were generally the biggest threat. The roads were double parked with people using the park (worst I have have ever seen) resulting in narrow road space. Drivers did not slow down to adjust to this or to us cycling alongside the 6yo.

One driver overtaking a parked car had to encroach on to our side of the road. Instead of waiting he pushed out and shook his head at us. Did he think we shouldn't be on the road with a small child or did he just think he had priority? Either way he was wrong.
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As some will have noted, there were a lot of reports yesterday on the fact that £50 billion of banks notes are missing in the UK economy. This got me thinking. And as a result I have to suggest that finding that £50 billion of cash would not be hard. Here’s how to do it.

As the Public Accounts Committee of the House of Commons has noted, around £50 billion of banknotes in issue have no explained use. In other words, they do not appear to be used for regular cash transactions. What their alternative use might be is not known.

Some could be in the possession of tourists, who have not bothered to exchange them on leaving the country. But the amounts involved would be small.

A bigger sum might be cash savings under the proverbial mattress. This is entirely plausible. It is possible that some of this will be related to benefit fraud: the amount of savings a person has can have a significant impact on their ability to claim a number of benefits.

There is no doubt that a significant part of this money Is used within the shadow economy. That can cover activity where tax is evaded, of course. But it also includes drug dealing and many forms of human trafficking and abuse.
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UK’s £35bn fashion industry warns of “decimation” from #brexit - big names sign open letter to @BorisJohnson urging action. Many of 50,000 SMEs on the rack due to VAT, customs and work permit issues. Stay with me/1


You can read the full text of the letter here, co-ordinated by Fashion Round Table @FashionRoundTab, but tl;dr it says that #Brexit has left a "gaping hole" in an industry that relies of free movement of professionals. It's a familiar cry /2



@FashionRoundTab The industry, already whacked by #COVID19, is now discovering that cross-border sales are a horror (VAT, Customs, long delays) and models, stylists, photographers that used to blat around Europe can't any more. They need permits, for themselves, for their gear /3

It is on one level amazing that this is only just fully dawning - as the musician industry found out recently - but fashion is not just big names and big companies. It's actually a mountain of small companies and sole traders often that feed into a huge (£35bn) industry /4

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@jasonfurman
The argument for deficits & debt raising interest rates in the US is not increased credit risk, it is that interest rates are a function of economic fundamentals, flows & policy. Deficits/debt change those.

I can't tell if I'm agreeing or disagreeing with @jc_econ.


Increasing government spending or reducing taxes increases demand (or reduces saving). This raises the price of loanable funds or the interest rate.

In a dynamic context, more demand means a stronger economy, the central bank raises interest rates sooner, and long rates rise.

(As an aside, we are not close to the United States needing to worry about credit risk and the risks are more overstated than understated in most other advanced economies too. But credit risk is not always & everywhere irrelevant, just look at the UK in 1976 or Canada in 1994.)

Interest rates have fallen over the last 20 yrs while debt has risen. This does not necessarily mean that debt rising causes interest rates to fall. It could also mean that other things have happened at he same time that pushed down interest rates more than debt pushed them up.

The suspects for these "other things" include slower productivity growth, slower popln growth, higher inequality, less investment, etc. All of which either increase the supply of saving or reduce the demand for investment, reducing the equilibrium interest rate.
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SALUTATIONS you fantastic denizens of the internet! The first #FridayNightHistory of 2021 is here! This week, a new mystery: the true name of "John Williams," Japanese Veteran of the American Civil War.

Yeah, you heard right. And he's not the only one, either.


Now-- I know, I know. Ordinarily you see me talking about the Japanese aftermath of the US Civil War, in the form of people and surplus equipment from the US that ended up there during the Boshin War.

I find myself in pursuit of the opposite, today. @DuPertweet brought a tweet by @KyleMizokami to my attention, with photos of an article talking about Asian-American/Pacific Islander veterans of the US Civil War in general and 2 Japanese vets in particular.

I'm starting from one of those two, and seeing how much I can reconstruct, because there really weren't that many Japanese people outside of Japan in the timespan of the US Civil War (1861-1865), so I think it should be possible to narrow down their precise names and identities.

And this week I want to start from one. What do we know about this person who American records call John Williams?
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