When we talk about slowing demand growth to slow inflation it is worth bearing in mind that the top 40% of income distribution in US accounts for 60% of consumer spending, while the bottom 40% accounts for only 22%. @RanaForoohar ft.com/content/38b209… https://t.co/gT6ZJK5dut
"Thatcher was greatly irritated when backbench pressure forced her to abandon the sale of parts of British Leyland to Ford and General Motors. As she wrote later, a kind of “pseudo-patriotic hysteria” had swept through politics." ft.com/content/40d34e…
"A post-dollar world is coming" … really? ft.com/content/989b2e… Chartbook Newsletter #142 takes a different view. adamtooze.substack.com/p/chartbook-14… https://t.co/HBApgjugA8
“Nasa is not a transportation company or a regulatory agency. They’re a science and research institution." And man does it show in the SLS ft.com/content/4ef1a4… https://t.co/0PeBb2KkF8
Gopinath cautioned that the ECB faced particularly acute trade-offs; there was “a real risk” that a stagflationary environment of languishing growth and high inflation will emerge in Europe ft.com/content/b71e25… https://t.co/NvfL7ojMFK
RT @thechipletter: @adam_tooze @TheEconomist It's a rocket powered Pork Barrel. "Pigs in Space!" https://t.co/KXpDFQUNai
“The euro right now is just purely a function of the European energy shock,” ft.com/content/8ffc36… https://t.co/Od9aROxCDs
"A flying turkey" … "to space from Alabama" The takedown in @TheEconomist of this bodged 1970s/1980s solution to 21st-century space travel, is quite something! economist.com/science-and-te… twitter.com/NASA_SLS/statu…
Energy demand is far more price elastic than has commonly been suggested. Crucial review of recent studies based on micro data! economist.com/finance-and-ec… https://t.co/ebxs877fGJ
Last week wheat futures in Chicago, for delivery in December, dropped to $7.70 per bushel, far below the $12.79 they reached three months earlier and back to their level in February. economist.com/finance-and-ec… https://t.co/KCYKR9hqvS
RT @DEHEdgerton: Been writing about DC6s and other post 1945 piston engined aircraft and how they transformed aviation before jets. This on…
Top Links #92: Industrial policy and war, Svetlana Alexievich & the woman who invented the advertising jingle. on Chartbook adamtooze.substack.com/p/top-links-92…
Russian manuf output fell by 7% Dec-June, led by carmaking ( -90%), pharma (25%). In May Russia eased safety standards to allow for the production of cars without airbags and anti-lock brakes economist.com/finance-and-ec… Pairs well with Chartbook #146 adamtooze.substack.com/p/chartbook-14… https://t.co/mAYv8I7HAu
Residents of Chengdu do not take kindly to call from Shanghai that Sichuan should cut back on power usage to keep Tesla's factory open. economist.com/business/2022/… Nice piece in @TheEconomist pairs well with Chartbook #145 on China on the tightrope adamtooze.substack.com/p/chartbook-14… https://t.co/OZk09cOdPG
In 2021 M&A reached fever-pitch: a record $5.9trn-worth of deals worldwide. $3.8trn by operating companies & the balance by private-equity funds etc As @TheEconomist reminds us, a lot of value destruction is about to happen! economist.com/business/2022/… https://t.co/n4EHKH63Qy
"In a region with no lack of eternal battlefields, the Mediterranean waters off the shores of Israel and Lebanon could become a new one." GREAT 1st line @TheEconomist economist.com/middle-east-an… https://t.co/3zPL3eaBgp
@ShaharHameiri And they actually kinda know it too … its a pantomime – the phrase I used in the @ForeignPolicy piece.
World Bank and Kiel estimate that btw 2008 and 2021 China carried out 71 stealth debt restructurings. Mainly by extending maturity. More than all the Paris club of western bilateral creditors. Write downs would be far more efficient. economist.com/china/2022/08/… https://t.co/EGA18F1vec
Of 68 countries eligible for the dssi, 60% are at high risk of, or already in, debt distress. They owe $110bn to China, more than all other bilateral creditors combined. China is due to receive 26% of debt-service payments from those 68 countries. economist.com/china/2022/08/… https://t.co/WFJIkMF9E2
RT @KingProle: @adam_tooze Deaths of despair statnews.com/2021/12/29/dea…
As rents soar across USA, more local governments are turning to rent-control measures to help contain housing costs, to keep low-income renters in their homes and to be seen to be doing something to address housing cost increases. economist.com/united-states/… https://t.co/wBm2BL6vzW
Does economic warfare work? Measured assessment by @TheEconomist economist.com/leaders/2022/0… Pairs well with Chartbook #146 adamtooze.substack.com/p/chartbook-14… https://t.co/weAssTUtHi
RT @James_Moloney2: Best article in this weekend’s @ftweekend Ukraine: the $10bn steel plant at the heart of Russia’s economic warfare |…
RT @Habesh_: Britain risks a beer shortage from a lack of carbon dioxide, a pub group has warned, with bars already struggling from high en…
Jackson Hole Wyoming is the venue for one of the most important economic policy meetings every year. It is also the county with the most extreme income inequality in the USA. Check out Chartbook Newsletter #147 on Jackson Hole '22. adamtooze.substack.com/p/chartbook-14… https://t.co/vxT4wccTSh
Did a piece for @ForeignPolicy on Powell's speech at Jackson Hole '22 foreignpolicy.com/2022/08/27/inf… A podcast with @CameronAbadi on the conference foreignpolicy.com/podcasts/ones-… And a Chartbook Newsletter (#147) pulling it altogether adamtooze.substack.com/p/chartbook-14… https://t.co/aG6kqIS7xJ
In recent weeks all eyes have been on the monetary policy meeting at Jackson Hole. But what about the Wyoming community that hosts the monetary policy elite? For more read Chartbook #147 Newletter adamtooze.substack.com/p/chartbook-14… https://t.co/kusPQ6SIZE
Chartbook #147: Jackson Hole 2022 – the 18th Brumaire of Jerome Powell on Chartbook adamtooze.substack.com/p/chartbook-14…
Did a piece for @ForeignPolicy on Jerome Powell's Jackson Hole speech and his invocation of history. foreignpolicy.com/2022/08/27/inf… https://t.co/DRk93Iogd2
The world’s two biggest data centre operators are stockpiling generator fuel as the energy crisis sparked by Russia’s invasion of Ukraine threatens winter power blackouts across Europe. ft.com/content/90f94a… https://t.co/xHxerWLyrg
Tunisia's econ growth averaged just 1.8 % btw 2011 & 2020, Unemp is averaging at 16.8%, rising to 38.5% among the under-25s. The value of the dinar has halved against the dollar since 2011 and inflation is at its highest level for more than 20 years. ft.com/content/101ef6… https://t.co/yNbHy4dQ8L
American politics needs to focus on one essential question. Keeping Americans alive! The life expectancy at birth for a male child born in the US in 2019 was 76.1 years, the same as a boy born in England in 2001. ft.com/content/b3972f… https://t.co/OZ9e2ZryEo
"we are almost certainly underestimating Putin’s vulnerability" ft.com/content/f58bb5… Interesting this by @EdwardGLuce on oscillation of Western "realism" in relation to the war. Pairs well with Chartbook #146 adamtooze.substack.com/p/chartbook-14… https://t.co/gqSoMKiHfU
Russia's invasion has had a devastating impact on Ukraine's steel production. ft.com/content/5835e6… Excellent @FT essays pairs well with Chartbook #146 on economics of the war adamtooze.substack.com/p/chartbook-14… https://t.co/JwYJFpvZ5U
v interesting this by @alexandrascaggs on US Treasury market reform. ft.com/content/99be37… https://t.co/046QCBzkls
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