ADAM TOOZE

Sales of existing homes in the US are plunging yoy. thedailyshot.com/2022/08/19/us-… https://t.co/6yFI0E6hcH

Labour market participation by American men with less than BA education has not recovered from the COVID shock. wsj.com/articles/labor… https://t.co/nQLPmuIGsu

China's consumption has not, so far, plunged as badly as in 2020, but consumer confidence is looking absolutely terrible! thedailyshot.com/2022/08/18/ret… https://t.co/nrVjzbd20P

Whether you think the Eurozone is heading back to pre-COVID trend depends on what you think the pre-COVID trend was. The deceleration from 2018 was marked. thedailyshot.com/2022/08/18/ret… https://t.co/uVaKZaxwNT

UK inflation numbers look alarming right now, but by end of 2023 forecasters are expecting inflation to be likely to be back down at 2%. thedailyshot.com/2022/08/18/ret… https://t.co/YI0hNWSr16

Interesting and important this by @economistmeg on the funding sources that the EU could mobiize to force pace of energy transition. ft.com/content/392613… https://t.co/zErRivASTf

Dudley wants chair Jay Powell, who will speak publicly next Friday, to ram his message through Mr Market’s thick skull: @EthanYWu ft.com/content/681124… https://t.co/CtcZqJF62N

In 2018 Australia agreed to fund a subsea cable to Solomon Islands to block Huawei. Also bankrolled Telstra’s acquisition of Digicel #1 telecoms operator to stop sale to a Chinese operator. But now Solomon islands have gone with Huawei anyway. ft.com/content/39ca56… https://t.co/iZXOHondRs

China’s Huawei has signed a deal to build 161 telecoms towers across the Solomon Islands in a sign of strengthening ties between the Pacific nation and Beijing. Export-Import Bank of China to provide finance. ft.com/content/39ca56… https://t.co/gmKj5p5N0S

Norsk Hydro plant closes an aluminimum smelter in Slovakia and so too is Nyrstar smelter in NL, controlled by Trafigura, producing zinc. Energy costs too high -> forces EU to rely on Russian and Chinese capacity which is dirtier. We need CBAM now! ft.com/content/0906df… https://t.co/Oo66mtQqOp

The price of EU ETS credits that are bought by polluters to compensate for carbon emissions rose to more than €99 in afternoon trading to surpass the previous high of €98.49 reached in February ahead of the invasion of Ukraine. ft.com/content/202fb1… https://t.co/SAyBFkUcGo

You would have thought steep food prices would encourage higher farm productivity, relieving pressure on consumers. But John Deere cannot get its tractors to farmers because of supply-chain issues. ft.com/content/0f9983… https://t.co/iMmmpxeahm

Turkey has shocked markets with a 100 basis point interest rate CUT from 14 to 13% despite inflation of nearly 80%. central bank loosens policy further to spur growth ahead of a general election next year. The response of fx markets was unsurprising! ft.com/content/8530b6… https://t.co/fONR5ctwJA

"More than 1/4 of heterosexual US couples met through their families in 1940, but the proportion has fallen steadily since then. Some 35 per cent were still introduced by friends in 1980, before online dating took off." interesting this by @johngapper ft.com/content/d3e53d…

Sign of our times: in January 2022 the NY FED introduced an index of global supply chain pressure! libertystreeteconomics.newyorkfed.org/2022/01/a-new-… https://t.co/ZNz5V9b2R2

@johngapper Sorry for the cryptic remark. 2011 there was a huge wave of tech euphoria about how social media apps were going to bring "liberal democracy" to the Middle East. Somewhat facetiously I thought there was an analogy to the polarized US.

The slowdown in world growth from 6.2% in 2021 to 3.2% in 2022 is the most dramatic slowdown in a recovery in 80 years. @IMFNews h/t @R2Rsquared https://t.co/WMsbhh4OpP

@R2Rsquared @IMFNews Sorry Ricardo you are right. I should have said. The fastest slowdown in a recovery in 80 years. Not any kind of slowdown.

"The flu is a highly pathogenic strain of the H5N1 virus. Since its early detections in poultry and wild birds in the spring of 2021, this new strain has killed more than 86 million birds in the US and Europe alone" ahemmmm?!!!!!! ft.com/content/dc4bc7… https://t.co/pgg3VngR7F

"It’s time for Europe to ask Norway to cut the price of gas While any reduction might be politically difficult, it might be in the "interests" of Oslo to accept one" Dont we know @OilSheppard how a version of this story ends? ft.com/content/7d6742… https://t.co/GxO00UlTmS

RT @artistkollwitz: Käthe Kollwitz, Mother and Child, from "Bildermann," April 20, 1916, 1916 #käthekollwitz harvardartmuseums.org/collections/ob… https…

Gas prices: £5.15 a therm. $9.40 a million British thermal units €236 a megawatt hour I know these units are conventional & there is no single market, but under circumstances @OilSheppard @derek_brower @FT could we at least report using a common unit? ft.com/content/64e9bb… https://t.co/JVgjlYmTI7

"Across world, politicians are ever more desperately looking to contain the explosive consequences of the energy crisis. In those parts of Asia, the ME & Africa already mired in multiple difficulties, the crisis is proving catastrophic." @HelenHet20 in @FT ft.com/content/254511… https://t.co/J7gzhMO15I

Energy-rich Middle East states are set to reap up to $1.3tn in additional oil revenues over the next 4 years boosting SWF firepower at a time when assets are cheap and Gulf absolutism thanks to Putin's war @IMFNews Quite the take by Andrew England! ft.com/content/948254… https://t.co/O9VC3QKHE2

Share of EM bond issuers with yields above 10% is now higher than at any time since 2013. @IMFNews https://t.co/zDVJA5ou6s

"Dating apps should spark love across the political divide" John Gapper Seriously!? Did we learn nothing from the Arab Spring? No there isn't an app for that! ft.com/content/d3e53d… https://t.co/QSMFSoWdeO

Napoleon in triumph at Jena in 1806 and a striking Lawrence portrait of Wellington juxtaposed on the walls of the mansion housing the Jockey Club of Buenos Aires. https://t.co/nqoG1w9ZFl

Foucault’s hermeneutic of the self, vol 3 of the college de France lecture – not necessarily the reading you expect in the members library of the Jockey Club of Buenos Aires!!! https://t.co/LBP0oycbMW

Recession fear is now at levels worldwide last seen in 2020. @IMFNews https://t.co/CWy9GcJI3p

The slowdown in world growth from 6.2% in 2021 to 3.2% in 2022 is the most dramatic in 80 years. @IMFNews imf.org/en/Publication… https://t.co/dcbHi5I50x

@SimoneWeil1930 @policytensor @GeoffPMann @Claraleoo @Undercoverhist who you need to ask is @NewLeftEViews

RT @frostyhk: Shock July data out of China as economy battles Covid Zero, weakening demand, housing slump. Yoy: Retail sales 2.7%; est. 4.…

Lobbying by Intel -> guardrails in CHIPS act to bar investment in China were loosened -> fierce GOP opposition which now demands zero US corporate investment in China in exchange for national subsidies. @oren_cass on GOP pivot to full decoupling. ft.com/content/76f341… https://t.co/UUUaXIvMh9

Is the Fed close to being in neutral? Yardeni argues that it may be tighter than critics allege once you factor in QT, strong dollar and doubling of mortgage rates. ft.com/content/9289b1… https://t.co/D8OtuM43N7

Extreme heat belt: 1/4 of US land area, home to more than 100mn people, will be subjected to temperatures of more than 125F (52C) in three decades. The zone will expand from 50 counties in 2023 with 8 m inhabitants to more than 1,000 by 2053, ft.com/content/310393…

Germany's BNA network agency is facing up to need to do gas rationing. -> agency is doing “a lot of detective work” to establish which companies should be prioritised to minimize impact on supply chain. Information issues are critical. ft.com/content/ca2157… https://t.co/f9pi5p4rli