ADAM TOOZE

everyone: what an amazing rally fed: we are buying everyone: fundamentals are so bad fed: …everything you own… https://t.co/ssiu4SVB5S

This is truly an essential thread! Must read in light of remarkable @bankofengland decision this morning to go for… https://t.co/rj4OiJDf1D

I keep looking at this graph in disbelief. The US consumer is the beating heart of the world economy. It is a regu… https://t.co/o7IkCJ6uoB

@DekHarper @LRB You are most welcome.

Everything about the macroecon of this moment defies historical experience! The unemp data this am. This estimate… https://t.co/EJ4tBOkcdW

"[Trump's coronavirus] economy appears not so much as a superego laying down the law, but as an irrepressible impul… https://t.co/aZnAez8qap

The only good news about the US labour market is that so far the vast majority of job losses are classed as tempora… https://t.co/eEZ51jq7yj

The consensus estimate for today’s unemployment insurance number was 5.5 m. It turned out 6.6m but Wall Street is s… https://t.co/Q7zY8aImwK

69 percent of households had paid their rent by April 5; this compares to 81 percent that had paid by March 5, 2020… https://t.co/L0mVzpXzlf

@JAndritzky @ecb @fwred @Schuldensuehner @adam_tooze @HansWernerSinn @Isabel_Schnabel @PeterBofinger @WielandVolker… https://t.co/wtOQWt6PaI

Trump’s election in Nov 2016 triggered a staggering divergence in the perceived economic well-being of Americans. T… https://t.co/jAMcMoU3SM

Note that it took until October 2009 — nearly two years after the recession began, and four months after it had te… https://t.co/rmnwqDFrQU

The story about the unprecedented race between the lockdown and the policy response….. https://t.co/y9QZRdgMSW ….… https://t.co/WtLefjlTsa

Correction: Three-week total is actually an even worse 16.8 million after the revision to the prior week's data.

3.3 m 6.6 m And now … 6.6 m again! More shattering numbers from the US labour market out minutes ago. Time to r… https://t.co/EhZbdCsCXb

In mind-numbing non COVID events, European Commission is handing the keys to the green finance regulatory kingdom t… https://t.co/wNzHxKP6qw

Big tech has continued to act as a “safe haven” for investors, as volatility relative to S&P 500 has remained consi… https://t.co/vRAPBVtiJE

Pessimistic scenario for world trade from @wto is -32% contraction—more than double weakness seen in 2009… https://t.co/EJVTZbwrrj

TARGET2 balances go up because of pan in eurozone. & Hans-Werner Sinn is at the ready to stir the fears of German… https://t.co/Kard2dtHhu

@voss_59 @Schuldensuehner @SoberLook No way … OMG … just idle late-night speculation on my part and then … look who’s back!

@DieFreieStrasse @LRB 😉

EM CDS have come off their mid-March full-panic peak. The exception is South Africa which is now paying price for s… https://t.co/uJWEJl5cTL

China, at least so far, is not the stimulus engine it was in 2008. Part of the reason is that its financial sector… https://t.co/kKNNwnPJs9

The real estate-construction sector is crucial to Chinese growth. How rapidly it recovers will presumably influence… https://t.co/AVMAOjyamY

Direct monetary financing? NO says BofE’s Bailey on April 5th. https://t.co/nG7EmvxZus But we are in corona-world… https://t.co/SJUHuA4Mb8

The PBoC is doing “stimulus" of a sort. But this is NOT headlining grabbing stuff. Tweaking of policy rates.… https://t.co/OTJFkBraIb

European interbank rates are rising amidst concerns about the state of some of the banks. Last thing we need!… https://t.co/p6bwkDAWts

Surprise, surprise … Italy’s TARGET2 balances are blowing out … clock ticking … how long until "concerned German ci… https://t.co/WWF2aCYrTL

Especially in early March social distancing across the US was a partisan affair, varying negatively with support fo… https://t.co/ewqsrDkqVp

Monday 9th March when the markets imploded is the day when US newspapers began to focus on the COVID-19 story.… https://t.co/xIo09PovXS

Currently we are in a lockdown-driven crunch. The next thing to worry about is the shock to consumption, rising sav… https://t.co/T7ZZ2d0G8K

Worse than the Great Depression! @stlouisfed is predicting that US unemployment will peak this summer >30% v. 25% i… https://t.co/IGSBh9lFiu

In the 2007-2009 recession, it took 27 weeks to reach 10 million initial unemployment claims. We got there in two w… https://t.co/dosvBSIAFO

A critical timeline: On March 19th just over 10% of the US workforce were under state lockdown. By first days of Ap… https://t.co/e83rP5xoff