ADAM TOOZE

RT @BachmannRudi: Wow. Das haette man so eins-zu-eins in der Bildzeitung und von manchem rechten Ökonomen in Deutschland lesen können, Frau…

Schmand – form of sour cream particularly popular in Bavaria/Austria – has its own entry in Germany's production statistics! twitter.com/destatis/statu…

RT @PeterBofinger: Ich freue mich sehr über die Ernennung zum Senior Research Fellow des @imk und die Zusammenarbeit mit den Mitarbeiterinn…

German politics really is WEIRD … this is @katjakipping of @dieLinke attacking banks for negative interest rates! twitter.com/katjakipping/s…

Deindustrialization, as far as the US is concerned, is almost entirely a relative phenomenon. In 1953 there were 19.35 m in “goods producing” work. In 1987 23 m. In 2021 c. 20 m. It is service employment that grows! @BLS_gov blogs.bls.gov/blog/2021/06/3… https://t.co/ZOTaGedGat

RT @_SidVerma: "Don't cry because a central bank murdered the market. Cry because it had no other choice." — @TheStalwart in @LorcanRK's u…

@ClausVistesen @MMQWalker @duncanrobinson @ErikFossing @nina_econ Its a statement along the lines of “if we were in 2021 and the ECB was buying Greek bonds, even with 200%+ debt/gdp, yields could be negative. ECB has this power. They didn’t use. That frames the entire politics of this." Over and out 🙂

@ClausVistesen @MMQWalker @duncanrobinson @ErikFossing Hi all, really appreciate v nice tone of this engagement starting with @ErikFossing Fraid Im not up for rehashing EZ crisis this morning. BUT passage quoted by @nina_econ is not about Draghi but Trichet era and it is not meant as a realistic counterfactual.

TWO key trends visible in this US data on construction: 1. Backlog of homes not built 2. Difficulty of finishing construction in 2021 due to supply-chain constraints. thedailyshot.com/2021/06/24/us-… https://t.co/fcFjbl08Ov

Cash-strapped Iran has put pressure on Iraq’s government which owes $4bn for power/gas imports (sic) -> Iran halted its crucial supply of electric power to Iraq -> fuelling fears of protests in Basra following resignation of Iraq’s electricity minister. thearabweekly.com/iran-cuts-powe… https://t.co/0xgwpWFb9S

Maersk, world’s largest shipping company, has proposed tax of $50/t of carbon rising to $150. Yet at the @IMOHQ in June, member states could not even back a tax of 70 cents per tonne of CO2 to fund research into green technologies! EU et al should act!   ft.com/content/d58fc4… https://t.co/JSa582ZoAj

In 2021 9% of central banker speeches mentioned inequality or distributional issues up from < 1% in 2009. ft.com/content/2188e9… https://t.co/9Z8SUuPXuP

Meanwhile on the other side the equator …. FROSTS hit Brazilian crops. twitter.com/FarmPolicy/sta…

@hardybazyan @alialsaffar @BasimaAbd @bezianvolt Ahhh I get it.

Why is there an anxious conversation about inflation in Europe? WHY? Core just dipped below 1%. The more I think about the Weidmann tortoise analogy the more telling it seems. ft.com/content/2188e9… https://t.co/sA9rGJkTjm

US real estate market has recently shown itself to be VERY interest rate sensitive. In 2018 30-year mortgage rates rose by about 100 basis points -> growth in unit sales of new homes plunged! Homebuilder stocks lost a third of their value. A warning? ft.com/content/3ee34c… https://t.co/56U7IpVYjD

Latest reading of the influential Case-Shiller national home price index, showed US home prices rising by an annual 14.6 per cent. BUT it is a lagging index. The figure is for April. Fear is that market has already turned, driven by rate expectations. ft.com/content/3ee34c… https://t.co/eb9GLa8YRd

The areas in England most deprived of community assets ranging from parks to local retail. theguardian.com/society/2021/j… https://t.co/0f0f4zah3J

“As inflation goes up and the economy improves, the traditional hawk-dove differences across the Federal Open Market Committee are going to start to reappear” (Alan Blinder, June 2021) ft.com/content/de778e… https://t.co/v2SzbZnY8S

RT @TheStalwart: I wrote about why all the inflation fearmongering so far has been nonsense. Hitting inboxes shortly. https://t.co/Pl5nZqsN…

@hardybazyan @alialsaffar @BasimaAbd @bezianvolt Fantastic. I guess the question is why it is not EVERYWHERE. It seems such a natural application. Technology is now proven. Generators are expensive alternative. What is rough entry cost for a basic solar system? Shouldnt one aim to have it on every office/shop/house?

@alialsaffar @BasimaAbd I imagine large-scale is very complicated. But I was thinking more of take up by households and small businesses as an alternative to generators. With a lot of local generation going on anyway PV/battery seems like an obvious switch.

@LucioMM1 @SajadJiyad Fair point. But given the cost of power being mentioned or the cost of buying a generator, solar will pay for itself VERY quickly. This suggests some local take up. spectrum.ieee.org/energy/renewab…

Why isnt Iraq awash with solar-powered air conditioning units? One panel will drive an efficient inverter mini split. @alialsaffar twitter.com/alialsaffar/st…

RT @SajadJiyad: It’s actually hotter right now in Baghdad than Basra, grid electricity is on for 5 hours per day. Generator prices at IQD 2…

RT @KenneyGeorge: Paywall. But this sentence in the second graf caught my eye. And why didn’t I already know this??? “Less than half (48%)…

Japan’s Hitachi will hire more digital talent from India to compete for stimulus/infrastructure/made in America business in US following a $9.5bn deal to buy GlobalLogic, a Silicon Valley-based software engineering company. ft.com/content/e9a43c… https://t.co/lO5z5hQQzN

Samsung trumpets ESG credentials but 2020 emissions rose 5%. Samsung is deeply entrenched in coal development in Vietnam and Korea Electric Power Corp is coal-heavy monopolist -> renewables account for only 5% of power supply. Is market liberalization key? ft.com/content/9c1cdc… https://t.co/gZbwQ2bqOO

Stress test bonanza. The 13 US banks that updated investors on Monday, will pay out increased dividends of $2.08bn in the third quarter. Huge buybacks to follow! ft.com/content/1c9044… https://t.co/yYcjjbB0Nc

Working for Tesla. “A modern day sweatshop” autoevolution.com/news/former-te… https://t.co/dd67WZGkBB

Faced with surge in oil demand @IEA has issued call for producers to “open taps”. Same @IEA that caused sensation in May with a net zero report! As it notes, there is a disconnect btw near term policies and long-term objectives. YUP!!!!!! ft.com/content/982a66… https://t.co/ykNeYDgpQg

Inflation/deflation bias. How many stories are now being run on the return of lumber prices to more normal levels? How does this track supply chain Angst generally? ft.com/content/560364… https://t.co/VFiM5ASG5f

"Looking to the next century has a specific meaning for energy traders. As oil prices push higher, traders are speculating when $100 a barrel will be surpassed.” Will demand rebound trigger supply response -> disastrous growth in fossil fuel consumption? ft.com/content/d728b9… https://t.co/qq9pnPKSsm

How are giant markets for US mortgage backed securities/Treasuries connected? When rates rise -> fewer borrowers refinance -> duration on mortgage loans up -> MBS investors sell Treasuries = procyclical hedging. Nice @rbrtrmstrng explainer h/t @M_C_Klein ft.com/content/560364… https://t.co/1oTGhP0JyX

The "Large bank stress test tool” by @MinneapolisFed gives you the chance to run your own stress test on America’s big banks. minneapolisfed.org/banking/financ… https://t.co/w1Voduz8zp

After a substantial run-up in US house prices will real estate boom unwind in an orderly fashion and Fed dodge bubble-popping bullet? Nice column this by @rbrtrmstrng ft.com/content/560364… https://t.co/DfXoQq0D7q