ADAM TOOZE

2/3 of global bond market is government debt. US+China account for half of all gov debt. Japan takes their share to 62%. A visitor from Mars might have some questions about the Europeans. What exactly is all the fuss about in this "Euro area" of yours? icmagroup.org/Regulatory-Pol… https://t.co/6CI1uiXkGo

@retepelyod @OECD @LauBooneEco If you look at the CBO numbers gross/net doesn’t explain the discrepancy. The @OECD figures line up with BEA data for the US as @markkuilmari has pointed out. -> what is difference BEA v. CBO data?

RT @cath_slessor: There's a ship that ships ships. https://t.co/YOLE1LztVE

RT @RobinWigg: Found an old Norwegian newspaper at our cabin from April 9, 1940 – the day Germany invaded Norway. https://t.co/NcsPyygDid

Cost of solar in US to be driven down by 60% Great headline. Then you discover Dept of Energy plans to spend $128 million … yup million … doing it and you scratch your head. Are we serious about this or not? @WaiteMarilyn @JayCShambaugh @economistmeg bloomberg.com/news/articles/… https://t.co/0a3jmJOEnJ

RT @RobinBrooksIIF: We've been banging the drum on how the US bond market sell-off risks doing serious damage to EM, by sparking a reversal…

The Korean War “shock” is really underestimated as a transient but fascinating moment in postwar economic history. HUGE significance for early history of West Germany too. bloomberg.com/news/articles/… https://t.co/AC4N5dU6oG

@markkuilmari @OECD @LauBooneEco Thank you. Thats really helpful. So BEA data agrees precisely with @OECD … so I am left struggling to understand gap to CBO. “General government interest expenses” is clearly a much wider category.

2020 brought a shift in fiscal stance in Germany. BUT if these @OECD numbers are to be believed it was FAR from being enough to change the remarkably divergent fiscal development across 2007-2020. Ger/Nl in a different world from France/Italy/UK/US oecd.org/daf/fin/public… https://t.co/BLFVcLUF9h

@p_ceretti @genericecon @OECD @LauBooneEco That was my 1st idea too. But checked the net issue. As you can see from the US data. Nowhere near big enough as an adjustment. https://t.co/9k0azJoMtK

“Rip-roaring” Haldane v. “More stimulus” Tenreyro … debate inside the Bank of England MPC over UK outlook are getting interesting! bloomberg.com/news/articles/… https://t.co/LGiDPrDmWw

RT @blaetter: Das #Coronahilfspaket der #EU ist von historischer Bedeutung, sagt der Wirtschaftshistoriker @adam_tooze – und kritisiert das…

Central banks purchased half the net new issuance of government debt in @OECD in 2020. One for @SoberLook oecd.org/daf/fin/public… https://t.co/aXFvPCerw8

@genericecon @OECD @LauBooneEco I thought about that but state level debt in US is not big enough to account for difference … I think.

In Euro Area the fiscal response to 2020 – measured in terms of borrowing rather than guarantees etc – was in fact not much larger than in 2008! Surprising this from @OECD Does it seem right? oecd.org/daf/fin/public… https://t.co/8UOlj60zKO

What is the @OECD counting when it claims that US general government interest expenses come to almost 4% of GDP? Standard US sources e.g. CBO say 1.6% for net interest outlays @LauBooneEco https://t.co/P5SwHGwXEA

At level of @OECD The fiscal shock of 2020 was far bigger than in 2007-8. One for @SoberLook oecd.org/daf/fin/public… https://t.co/mTV5JfiVEA

This is fascinating on German infantry tactics from the always interesting @BuddNicholas twitter.com/BuddNicholas/s…

@BuddNicholas Hi Nick what is the weapon slung over the shoulder of the Landser in the front far left of this picture?

RT @davidpilling: Thanks to @NOIweala @NgaireWoods @paragkhanna & @adam_tooze who helped me with this piece >> New Suez crisis: a global ec…

RT @MGSchmelzer: Wusstet ihr, dass der Schweizer Zementriese LafargeHolcim viermal soviel CO2 emittiert, wie die gesamte Schweiz? Aus Soli…

RT @LeusderListicle: I’m tapping the “rapid and accelerating cultural decline” sign again.

RT @COdendahl: The raw polling data on voting intentions in #Germany already has the #Greens ahead of the CDU, at 28 to 27. https://t.co/nJ…

RT @MerliAless: @adam_tooze @lucasguttenberg "Allowing itself" is also too restrained. I think they are a more than willing participant in…

@PhilippaSigl @mheger78 @Isabel_Schnabel @DanielaGabor No no … thank you for highlighting it. Super interesting. Hope all well at @DezernatZ !

@robertvz1704 @constantinweiss @schieritz @lucasguttenberg @SZ @BVerfG And the court is doing no one a favor by taking these cases the way that it does. It has at times almost coached them on lines of argument. There is a back and forth btw plaintiffs and judgements.

@hsc55 @SCMPNews And I thought you were tweeting about Karlsruhe 🙁

RT @schieritz: @adam_tooze @lucasguttenberg Which as we learned thanks to @SZ have been paid by a right-wing billionaire in the past.

@lucasguttenberg Hi Lucas thank you for this clarifying tweet. But isnt your language almost too restrained. Again the court is allowing itself to be instrumentalized by the usual suspects!

RT @lucasguttenberg: The German Constitutional Court orders federal president Steinmeier not to sign the ratification law for the Own-Resou…

It seems that despite majorities both in Bundestag and Bundesrat the German constitutional court is holding up ratification of NextGen EU to hear opposing case by the usual suspects. Mind-blowing.

Restructuring the American Dream … literally. Why would a bunch of very smart money invest in a mall in New Jersey in 2017? Wasnt retail apocalypse already in full swing then? Perhaps @RobinWigg @JARennison @EricGPlatt know? ft.com/content/db4922… https://t.co/Gd1K1VewOD

In thinking about energy transition, reality check on what consumers spend their income on is helpful. In Europe in 2019, immediate purchase of food and other goods c. 1/3, housing 1/4. Cars 3.8% Sign up for Chartbook Newsletter #17 here adamtooze.substack.com/p/chartbook-ne… https://t.co/RhwWVyolKN

RT @tedfertik: @andrewelrod To my knowledge no one has done for the 70s what Maier, Feldman, Migone and others did for the 20s. Though ha…

Germany’s “grand coalition” – CDU/SPD – now has just 42 percent poll share! Graphics from @Gavekal by way of @SoberLook thedailyshot.com/2021/03/26/4-o… https://t.co/FSURdQodau

It isn’t just chips! 2020 confirmed dramatic, multi-year decline in auto inventories in the US. wsj.com/articles/auto-… https://t.co/vBswhtxJFW