The political economy of record downpours

Torrential rain is the biggest economic variable for many this year.

The Big News Breakdown. Unpacking this week’s most important news.

This time last year Mexico City was wrestling with the depletion of the dam system that supplies its western half with water. No such worries now. Months of daily downpours have filled up the dams, and while last year at this point they were at 49% capacity, this year they’re at 77%. That is higher than the average from 1996-2021 at 70%.