ADAM TOOZE

Here the frame on the Repin seems to resonate with Perilli’s Monumento of 1964 ⁦@LAGNroma⁩ https://t.co/40H3QcNFqH

RT @simongerman600: Number of prisoners per 100,000 residents in each US state. The whole system is obviously broken. In Louisiana over 1.4…

RT @heimbergecon: Eurozone inflation has fallen more steeply than expected to its lowest level for a year after a decline in energy costs (…

RT @elerianm: From Adam Tooze’s column in the Financial Times, “we are living through a trillion-dollar rebalancing.” #economy #banks #mar…

RT @joergnicht: U Alexanderplatz. #Berlin https://t.co/1Od55agBPm

@NationsWealth @LAGNroma Oh it’s he!

Antonio Sola Cerere 1839 in rapport with Anish Kapoor Untitled-Nero Africa 2003 ⁦@LAGNroma⁩ https://t.co/oNvGXKJk7K

If there is a gallery anywhere that can top the sheer chic of ⁦@LAGNroma⁩ I really want to visit! https://t.co/STcx9B0sWL

Arturo Martini le stelle (1932) framing Maria Sironi Solitudine (1925) ⁦@LAGNroma⁩ https://t.co/l5nQJk1eRz

Canova’s awesome and terrifying Ercole e Lica (c 1800) v the unfathomable sweep of Penone’s spoglia d’oro su spine d’acacia (2002) ⁦@LAGNroma⁩ https://t.co/zxcGBuFghF

Balzico cleopatra 1874 v Vimercati Vaso 1982. Gorgeousness at ⁦@LAGNroma⁩ https://t.co/wolthwm51M

⁦cy twombly, pino pascali reconstruction of a dinosaur (1966) and the coolest attendants chair ever ⁦@LAGNroma⁩ https://t.co/s2soFMZrrV

@DanielaGabor @DavidBeckworth @NathanTankus @George_J_Hall Thanks for laying out the weekend's work 😉

@wgoggin @JWMason1 @tomashirstecon @M_C_Klein @DanielaGabor @DavidBeckworth The entire idea of "fiscal space" is a conventional construct. By convention if the debt to gdp ratio goes

@IronEconomist @M_C_Klein @JWMason1 @tomashirstecon @DanielaGabor @DavidBeckworth Which is what I meant when I said "shock to the price LEVEL" … phew. glad we agree on

@JWMason1 @DanielaGabor @DavidBeckworth All I claim is that the size of the swing in the debt/gdp is remarkable and this creates fiscal space we werent

@JWMason1 @tomashirstecon @M_C_Klein @DanielaGabor @DavidBeckworth It is my view that when a sovereign's debt to gdp ratio goes down, for whatever reason, it will have

@tomashirstecon @M_C_Klein @JWMason1 @DanielaGabor @DavidBeckworth so … the current situation has shifted balance through (1) devaluation due to inflation, (2) more less unrealized balance sheet

@tomashirstecon @M_C_Klein @JWMason1 @DanielaGabor @DavidBeckworth And tax you would need to raise to buy it back would be less. Non?

@JWMason1 @DanielaGabor @DavidBeckworth I think that the rebound and inflation effects are obviously important. Interest rate effect captures in accounting terms a shift in pricing

And @DavidBeckworth is not associated with my "financial repression" short-hand. twitter.com/DavidBeckworth…

@JWMason1 @DanielaGabor @DavidBeckworth There are three factors at work, all of them important: rates, real recovery, nominal gdp growth.

@DanielaGabor @DavidBeckworth @NathanTankus @George_J_Hall I certainly think it changes the de facto macrofinancial regime.

@_TimBarker @DanielaGabor @NathanTankus @DavidBeckworth Great question … right now im busy thinking through my answer to Daniela on the shift in the macrofinancial regime in

@gilliantett Cheers Gillian.

@HansSuter Because it is so outrageous!

@DanielaGabor @NathanTankus @DavidBeckworth Perhaps I should have said that the last time we saw shifts in those ratios of this size, it was the era

@DanielaGabor @NathanTankus @DavidBeckworth Yup. At the risk of irritating people Im trying to draw attention to the remarkable shift in the debt/gdp numbers from 3

@_TimBarker @NathanTankus @DanielaGabor @DavidBeckworth This is not an ordinary hiking cycle. So the same methods including bailouts take on a different meaning in current context.

@DanielaGabor @NathanTankus @DavidBeckworth In the piece Im trying to weigh up the line of continuity and change. Of course you are right that bailouts continue

@DanielaGabor @NathanTankus @DavidBeckworth Thanks. This helps to clarify the basis of our disagreement. Dont you think the Fed's rate hikes, in the face of huge

@DanielaGabor @DavidBeckworth No doubt folks would call that a different kind of "repression" 😉 But thats a nice idea.

@NathanTankus @DanielaGabor @DavidBeckworth Because I need a VERY short formula to gesture to this striking constellation that we have slid into. I understand that you

@NathanTankus @DanielaGabor @DavidBeckworth To avoid misunderstandings I dont mean repression as a deliberate strategy so much as a constellation of inflation and rates from which