ADAM TOOZE

Many congratulations to @prospect_clark for a fabulous stint as editor of the magazine. Best wishes for everything that comes next. Great piece this. twitter.com/prospect_clark…

RT @KlettCottaTweet: Die unheimliche Gegengeschichte Deutschlands nach dem Zweiten Weltkrieg, unser #Buchtipp für besonders spannende Lesea…

RT @CyrilPedia: 'As Kalecki explains, in economic policy debate, talk of confidence is not innocent. It is a way for business leaders and t…

RT @chakrabortty: My former colleague and dear friend Tom has done a wonderful job as editor of @prospect_uk and this is a an excellently b…

RT @prospect_clark: Nothing is more urgent than vaccinating the world. It's easy too. The problem is the rich world is hoarding stocks. F…

RT @jonathan_church: “To retreat from net zero on account of the ‘energy crisis’ would be a disastrous mistake.” This is brilliant from @a…

@spectermatt Thanks Matthew! All best.

RT @spectermatt: A digital kaleidoscope! Fun to read -Subscribe to Chartbook, by @adam_tooze adamtooze.substack.com/?r=2esfg&utm_c…

"Amazon said that “inconsistent staffing levels” within its fulfilment network had led to inventory being inefficiently routed to regions with a more reliable workforce, increasing costs”. Labour not transport or warehouse capacity is key constraint. ft.com/content/8ff4f9… https://t.co/SBoa2aYE59

According to Seoul-based news service NK News, money coupons produced by the North Korean central bank are proliferating throughout the economy. May point to shortages of ink and paper plus crackdown on fx. ft.com/content/b2aebb… https://t.co/xoTEwiZjfT

Turns out in North Korea Black Swans aren’t rare at all! Indeed, the regime views them as a solution to an acute food crisis. Imagine if we had had this headline in 2008!!!!!!! ft.com/content/b2aebb… https://t.co/ansATDmgCb

Immoral capital: The America’s have the highest portion of family offices managing the assets of the seriously wealthy NOT AT ALL interested in ESG c. 30% v. c. 5% in MENA. ft.com/content/59b83b… https://t.co/GJgqCvb7FO

For the family offices of the seriously wealthy inflation and low rates are worries of roughly equal weight. Currency debasement (really bad inflation?) comes in at 39%. ft.com/content/59b83b… https://t.co/jtC1ZyXUGM

@davies_will Certainly their conversational style wouldn’t pass a Turing test. Pretty clunky AI, I would wager …

Since 1970 economic losses from extreme weather seem to be mounting whilst human casualties decline. At least if these data add up. ft.com/content/541702… https://t.co/9SU6FZhOle

On a national (production) basis the top 5 GHG emitters are China, US, India, Russia, Indonesia. Together they account for 50% of global emissions. ft.com/content/eef90c… https://t.co/7rBzSXC4KB

"Adding to the uncertainty around the crisis is the Chinese government, which has downplayed the risks of Evergrande without clarifying its role in resolving the problem” ft.com/content/d20b52… https://t.co/FmDQivxaoS

“larger than expected supply constraints” cost Apple company $6bn in the three months to September. ft.com/content/460691… https://t.co/tMWDvYl9HY

Is Spain Europe’s new divergence problem? The rebound from COVID is horribly slow. ft.com/content/56f1eb… https://t.co/YxVGqPnTth

Of COP26’s 53,374 tons of carbon footprint, 45k are for air travel. ft.com/content/52fcea… https://t.co/YKV1uZ5AIH

Short-term bond markets “experienced unprecedented volatility” last week with huge swings in Australia and Canada triggering moves in Treasuries and upsetting trades. Approaching distressed conditions? ft.com/content/9c08a4… https://t.co/eAuwcs4lp0

How GOP redistricting is going to kill the Dems. twitter.com/baseballot/sta…

At end of last week, the Reserve Bank of Australia declined to defend its bond-yield target, a pillar of its quantitative easing programme, unleashing what one trader described as “carnage” in the country’s sovereign bond market. ft.com/content/68e5f9… https://t.co/Lh6HV08Zjs

"For me – the soul of Neoliberalism lives somewhere in the dark vortex created by tax deductible interest.” I am so here for this @BenjaminACronin twitter.com/zeithistoriker…

RT @daniel_dsj2110: TLS review of Mark Mazower’s new book: the-tls.co.uk/articles/greek…

Will COP26 be able to live up to the logic of the 2015 Paris deal? Are the big EM willing to up the ante? What have the AE got to offer? ft.com/content/81e3fd… https://t.co/XCE3yrefBT

"For European households, taxes represent on average 40% of the electricity price, 25% of the gas price and 31% of the heating oil price in 2017.” Whether to carbon tax is not the question. The question is who pays what, for which types of energy. ec.europa.eu/energy/sites/e… https://t.co/Edl2iVFRJp

At constant prices, Mexico’s GDP is probably only at 2016 levels and analysts say it faces further risks from supply chain disruptions ft.com/content/d5c02c… https://t.co/OvdLpGVkA5

Returning Europe to the 60% debt to GDP ratio is entirely unrealistic. It would require Portugal to run a primary surplus of close to 2.5% of GDP for the next 20 years. Say the hair on fire radicals at the ESM. esm.europa.eu/sites/default/… https://t.co/ytOBkdfZ6F

100% is the new 60%. Impressive that this ESM report on a new fiscal framework for Europe manages to avoid mentioning Italy. How would 100% work if Italy starts with a debt to gdp ratio >150%? esm.europa.eu/sites/default/… https://t.co/9WRk0xCzGM

Cannabis harvesting in Lebanon’s Bekaa Valley -> drug smuggling has given Saudi and Bahrain excuse to sanction Lebanon where the Hezbollah-inclined government has attacked Saudi’s role in Yemen. ft.com/content/4f37a4… https://t.co/RHepYPxbpb

Normalization? As 2015 began, the ECB held 5 % of eurozone public debt. It will end 2021 close to 30%. esm.europa.eu/sites/default/… https://t.co/2AUHTumgDy

“Adopting a ‘sole purpose’ nuclear policy would be soul crushing to US allies. Would gut our credibility. After Afghanistan & Nord Stream 2, there is a genuine concern as to how much more they can take.” Wow. Things are getting pretty heavy in NATO! @Dimi ft.com/content/8b96a6… https://t.co/jdzkl8xfEO

“Market discipline” – ESM team likes what it sees in the pressure that bond markets applied to Portugal (2016) and Italy (2018) after they were “called out” by the Commission. esm.europa.eu/sites/default/… https://t.co/Ij7CJoHRey

“People are not digesting this. We cannot afford to lose supremacy” US intelligence officials launch campaign to warn US companies about risks of interacting with China in critical industries ft.com/content/4b2a82… https://t.co/wkozH8ISFD

@HyunSongShin @AltSpinelli @ecb Thank you Hyun … beautiful graphic!