Clem Fon
@clemfon.bsky.social
Professor of Political Economy at UcLouvain
Central banking & infrastructural finance geek. Also EU & French politics, political economy & social sciences at large.
Dr Miette bonus: #recordoftheweek & #tuneoftheweek
Central banking & infrastructural finance geek. Also EU & French politics, political economy & social sciences at large.
Dr Miette bonus: #recordoftheweek & #tuneoftheweek
Post 2010 Germany "economic success" would have been very different witout €financial capital flowing back to Frankfurt during the crisis and China industrial demand.
Take these two elements away and German growth model look more like Deutschbahn reliability than ordo liberal Mittelstand fantaisies
Take these two elements away and German growth model look more like Deutschbahn reliability than ordo liberal Mittelstand fantaisies
November 12, 2025 at 10:58 AM
Post 2010 Germany "economic success" would have been very different witout €financial capital flowing back to Frankfurt during the crisis and China industrial demand.
Take these two elements away and German growth model look more like Deutschbahn reliability than ordo liberal Mittelstand fantaisies
Take these two elements away and German growth model look more like Deutschbahn reliability than ordo liberal Mittelstand fantaisies
Oh, I just saw a cognitive dissonance
November 12, 2025 at 9:44 AM
Oh, I just saw a cognitive dissonance
Relying on LLMs to get your diploma and is similar to forging PhD research for boosting your political career in Germany
You think it creates shortcuts and notability for getting the top job. But as you are only interested in the CV line, you don't learn anything.
And one day, you are exposed.
You think it creates shortcuts and notability for getting the top job. But as you are only interested in the CV line, you don't learn anything.
And one day, you are exposed.
November 10, 2025 at 8:38 AM
Relying on LLMs to get your diploma and is similar to forging PhD research for boosting your political career in Germany
You think it creates shortcuts and notability for getting the top job. But as you are only interested in the CV line, you don't learn anything.
And one day, you are exposed.
You think it creates shortcuts and notability for getting the top job. But as you are only interested in the CV line, you don't learn anything.
And one day, you are exposed.
Could you describe how markets move from euphoria to panic when a bubble bursts?
Yes, of course. The shift occurs when more market participants starts to bet that the golden bullshit will be perceived more as bullshit than gold by other market particpants.
Do we have indicators?
Some.
Yes, of course. The shift occurs when more market participants starts to bet that the golden bullshit will be perceived more as bullshit than gold by other market particpants.
Do we have indicators?
Some.
November 3, 2025 at 9:34 AM
Could you describe how markets move from euphoria to panic when a bubble bursts?
Yes, of course. The shift occurs when more market participants starts to bet that the golden bullshit will be perceived more as bullshit than gold by other market particpants.
Do we have indicators?
Some.
Yes, of course. The shift occurs when more market participants starts to bet that the golden bullshit will be perceived more as bullshit than gold by other market particpants.
Do we have indicators?
Some.
Time for the usual reminder that "meat" originally meant 'food"/"life substance" and that 'green meat' (aka vegetable's loaf) was used as much as 'flesh meat'
October 9, 2025 at 8:37 AM
Time for the usual reminder that "meat" originally meant 'food"/"life substance" and that 'green meat' (aka vegetable's loaf) was used as much as 'flesh meat'
Rare sighting of one of the first US antifas circa 1943.
The duck is armed and dangerous.
Shoot on sight, dead or alive.
Reward in official Trump crypto
The duck is armed and dangerous.
Shoot on sight, dead or alive.
Reward in official Trump crypto
October 9, 2025 at 8:03 AM
Rare sighting of one of the first US antifas circa 1943.
The duck is armed and dangerous.
Shoot on sight, dead or alive.
Reward in official Trump crypto
The duck is armed and dangerous.
Shoot on sight, dead or alive.
Reward in official Trump crypto
If there was a rap battle, Petenkoofer would win all of them! Drinking cholera infested water to prove his point (and almost dying from it) in his feud with Koch was the XIX century version of rap diss tracks.
September 23, 2025 at 1:44 PM
If there was a rap battle, Petenkoofer would win all of them! Drinking cholera infested water to prove his point (and almost dying from it) in his feud with Koch was the XIX century version of rap diss tracks.
or they want to maximise returns
September 16, 2025 at 9:52 AM
or they want to maximise returns
For FX management, but also to minimise balancesheet losses, the favorite @sebdiessner.bsky.social central bank folk theory!
Also, they delegate voting rights in these companies to external providers tasked to ensure "good governance" (aka blank check), cf. @jvtk.bsky.social. Very close to AMC
Also, they delegate voting rights in these companies to external providers tasked to ensure "good governance" (aka blank check), cf. @jvtk.bsky.social. Very close to AMC
September 16, 2025 at 9:50 AM
For FX management, but also to minimise balancesheet losses, the favorite @sebdiessner.bsky.social central bank folk theory!
Also, they delegate voting rights in these companies to external providers tasked to ensure "good governance" (aka blank check), cf. @jvtk.bsky.social. Very close to AMC
Also, they delegate voting rights in these companies to external providers tasked to ensure "good governance" (aka blank check), cf. @jvtk.bsky.social. Very close to AMC
Universities & teaching authorities are gaslighted by LLMs and start to encourage us "teaching our students to use them as they are our inescapable future".
This is bullshit
I encourage students learning to code and use specific IA tools for specific uses but LLMs should be banned in classrooms.
This is bullshit
I encourage students learning to code and use specific IA tools for specific uses but LLMs should be banned in classrooms.
September 15, 2025 at 3:07 PM
Universities & teaching authorities are gaslighted by LLMs and start to encourage us "teaching our students to use them as they are our inescapable future".
This is bullshit
I encourage students learning to code and use specific IA tools for specific uses but LLMs should be banned in classrooms.
This is bullshit
I encourage students learning to code and use specific IA tools for specific uses but LLMs should be banned in classrooms.
3 conclusions:
1. Dismantling pressures started early and intensified.
2. The roadblock isn't scientific disagreement, but the member states/fossil fuel industry's rear-guard fight.
3. Delegated acts can be dismantling tools, empowering the Commission & Council over Parliament.
1. Dismantling pressures started early and intensified.
2. The roadblock isn't scientific disagreement, but the member states/fossil fuel industry's rear-guard fight.
3. Delegated acts can be dismantling tools, empowering the Commission & Council over Parliament.
September 1, 2025 at 2:49 PM
3 conclusions:
1. Dismantling pressures started early and intensified.
2. The roadblock isn't scientific disagreement, but the member states/fossil fuel industry's rear-guard fight.
3. Delegated acts can be dismantling tools, empowering the Commission & Council over Parliament.
1. Dismantling pressures started early and intensified.
2. The roadblock isn't scientific disagreement, but the member states/fossil fuel industry's rear-guard fight.
3. Delegated acts can be dismantling tools, empowering the Commission & Council over Parliament.
As conflicts persisted, the Commission "reorchestrated" the PSF in its second mandate: no NGOs, more firms, and a demand to make the Taxonomy more business-friendly. 8/10
September 1, 2025 at 2:49 PM
As conflicts persisted, the Commission "reorchestrated" the PSF in its second mandate: no NGOs, more firms, and a demand to make the Taxonomy more business-friendly. 8/10
NGOs on the PSF started symbolic resistance—exiting meetings, leaking drafts. Their relationship with the Commission became confrontational. Leadership then decided to bundle gas & nuclear to reach majorities, a strategy called "riders" in the TV show Parlement. 6/10
September 1, 2025 at 2:49 PM
NGOs on the PSF started symbolic resistance—exiting meetings, leaking drafts. Their relationship with the Commission became confrontational. Leadership then decided to bundle gas & nuclear to reach majorities, a strategy called "riders" in the TV show Parlement. 6/10
But the industry “woke up” during the legislative consultation. They lobbied governments hard, pressuring the Commission. Suddenly, in the first draft delegated act, Nordic forests became magically sustainable as a "question of national interests." 5/10
September 1, 2025 at 2:49 PM
But the industry “woke up” during the legislative consultation. They lobbied governments hard, pressuring the Commission. Suddenly, in the first draft delegated act, Nordic forests became magically sustainable as a "question of national interests." 5/10
The PSF proceedings were “orchestrated” by DG FISMA under a strong scientific frame. Regular lobbying wasn't effective... at first. 4/10
September 1, 2025 at 2:49 PM
The PSF proceedings were “orchestrated” by DG FISMA under a strong scientific frame. Regular lobbying wasn't effective... at first. 4/10
The Taxonomy's legislative adoption was fast but came with a price. To bypass industry resistance & conflicts on nuclear, the Commission kicked the ball down the road. Political controversies were framed as technical issues for expert groups (TEG, then PSF) to solve. 3/10
September 1, 2025 at 2:49 PM
The Taxonomy's legislative adoption was fast but came with a price. To bypass industry resistance & conflicts on nuclear, the Commission kicked the ball down the road. Political controversies were framed as technical issues for expert groups (TEG, then PSF) to solve. 3/10
The impetus for EU sustainable finance began in 2015 for 3 reasons: fear of China's dominance, Brexit, and COP21. DG FISMA took the policy lead and quickly realized a Taxonomy was essential to avoid greenwashing. 2/10
September 1, 2025 at 2:49 PM
The impetus for EU sustainable finance began in 2015 for 3 reasons: fear of China's dominance, Brexit, and COP21. DG FISMA took the policy lead and quickly realized a Taxonomy was essential to avoid greenwashing. 2/10
Since the start of von der Leyen's second mandate, EU sustainable finance norms face intense dismantling pressures. My new @JEPP article shows this started years ago when the fossil fuel industry “woke up” to the EU Taxonomy. 🧵 #EUTaxonomy #SustainableFinance👇 1/10
September 1, 2025 at 2:49 PM
Since the start of von der Leyen's second mandate, EU sustainable finance norms face intense dismantling pressures. My new @JEPP article shows this started years ago when the fossil fuel industry “woke up” to the EU Taxonomy. 🧵 #EUTaxonomy #SustainableFinance👇 1/10
I'm sure @fbulfone.bsky.social (one of the authors) will do it much better than I. Otherwise, I love this old (but classic by now) Keucheyan's argument that mega re-insurers and armies were the first major capitalist institutions to take climate change serioulsly in their predictions of the future
August 26, 2025 at 2:02 PM
I'm sure @fbulfone.bsky.social (one of the authors) will do it much better than I. Otherwise, I love this old (but classic by now) Keucheyan's argument that mega re-insurers and armies were the first major capitalist institutions to take climate change serioulsly in their predictions of the future
Crosswords are hype again! As I'm desesperate to catch my students' attention, I just did one for my class in European Political Economy. Can you fill it?
August 26, 2025 at 1:17 PM
Crosswords are hype again! As I'm desesperate to catch my students' attention, I just did one for my class in European Political Economy. Can you fill it?
"Make arms production ESG-compliant and Taxonomy-aligned again"
August 26, 2025 at 9:00 AM
"Make arms production ESG-compliant and Taxonomy-aligned again"
Say what you want about shadow banking, Big4 & all other financial capitalism institutions, this is a an another level of crookedness
June 27, 2025 at 7:47 AM
Say what you want about shadow banking, Big4 & all other financial capitalism institutions, this is a an another level of crookedness
Auhtors found a very high sensibility between answers and the number of questions/prep work asked to respondants. In other words, what determine most answers to the suvey was how respondants were surveyed. IMO, this kind of bias is a killer for policy-related use of such surveys
May 27, 2025 at 2:03 PM
Auhtors found a very high sensibility between answers and the number of questions/prep work asked to respondants. In other words, what determine most answers to the suvey was how respondants were surveyed. IMO, this kind of bias is a killer for policy-related use of such surveys
Finally, my main source of skepticism is related to what happens within the black boxes of polls/survey. My fav article about that is actually an ECB working paper www.ecb.europa.eu/pub/pdf/scpw... .
May 27, 2025 at 2:03 PM
Finally, my main source of skepticism is related to what happens within the black boxes of polls/survey. My fav article about that is actually an ECB working paper www.ecb.europa.eu/pub/pdf/scpw... .
Could $ become the XXth currency without forcing regime changes and dollarization in South America? Without being the currency for recycling petroroubles in City's tax heavens?
May 27, 2025 at 10:10 AM
Could $ become the XXth currency without forcing regime changes and dollarization in South America? Without being the currency for recycling petroroubles in City's tax heavens?