ADAM TOOZE

RT @dragoherder: The failure to increase minimum wage is a loss, but that doesn't mean the fight is over. Doing it by reconciliation was al…

The $1.9 trillion stimulus is shaped by compromise. The failure to tie minimum wage in is a big loss. BUT the significant thing is that this is happening and judged against track record of Obama and Clinton administrations it is a BIG win for the left. foreignpolicy.com/2021/03/05/bid… https://t.co/apljhOuPCY

RT @WarshipPorn: Graphic of the Royal Navy in 1939, red ships were lost during World War 2 [2877 x 1614] from /u/Moorbote at #WarshipPorn ➡…

RT @LalehKhalili: Saharan dust blowing across France and the Iberian Peninsula is full of caesium-137 from the French nuclear test sites in…

RT @leedrutman: It's weird that "filibuster" comes from the Dutch word for pirate, because it sure is holding our democracy hostage. https:…

Right now there is much debate about American democratic leadership. I argue in this new @ForeignPolicy piece that the $1.9trn stimulus is democratic leadership in action. foreignpolicy.com/2021/03/05/bid… https://t.co/vQaUBMMBAm

RT @stephanygj: Building a Better SDR by José Antonio Ocampo @ProSyn prosyn.org/lxZ4Gif Must read by @JoseA_Ocampo, quoting also his…

Brian Armstrong the engineer behind Coinbase the crypto trading platform was led to an interest in money through his experience of inflation in Argentina! ft.com/content/1077a7… For more on political economy of bitcoin see Chartbook Newsletter #15 adamtooze.substack.com/p/chartbook-ne… https://t.co/J8XBDrhBVv

According to Fed c. 28% of increase in US liquid assets from Dec 2019 to Sep 2020 went to Americans in top 1% of income distribution. 70% to those in top 1/5. Only 14% of extra – just $330 bn out of $2.3 trn held by bottom 60% Essential @M_C_Klein barrons.com/articles/ameri… https://t.co/FLY7uw3N1g

Americans have saved c. $1.8trn more than they normally would have since January 2020 (ignore mislabeling of this excellent chart) But who has accumulated most and are they likely to spend it. Great @M_C_Klein essay this! barrons.com/articles/ameri… https://t.co/Klyuc0IrNZ

RIP Jonathan Steinberg (1934-2021) A great historian and teacher, a wonderful mentor and friend. The first true Mensch I met at Cambridge. My thoughts with Marion and family. en.wikipedia.org/wiki/Jonathan_… https://t.co/2jxj2fFVYJ

The housing crisis facing Black American families at end of 2020 was uniquely severe. files.consumerfinance.gov/f/documents/cf… https://t.co/aqfkapfi3l

A New Deal for the World: This @EricLevitz interview with @jwdwerner is as smart as you would expect. Recommended. nymag.com/intelligencer/… https://t.co/fa7KUSC4ZR

EU’s stimulus is just not big enough! One cannot retweet this graph by @ErikFossing and team at Unicredit often enough. From excellent article by @ChrisGiles_ ft.com/content/49ca17… See also Chartbook Newsletter #13 adamtooze.substack.com/p/chartbook-ne… https://t.co/q5bOoqmTRI

Algeria and Morocco are very substantial military spenders, sourcing equipment from all over the world. Currently in precarious standoff. Interesting this from @africareport One for @njtmulder theafricareport.com/69722/morocco-… https://t.co/R1FrgzmEO5

Unemployment insurance is an essential safety net but it covered only a fraction of all US households that lost income in 2020. H/t @Claudia_Sahm excellent report for @jainfamilyinst jainfamilyinstitute.org/news/robust-ev… https://t.co/MX8KcwA3eZ

RT @hshierholz: Today’s #JobsReport shows why the $1.9 trillion relief package is crucial. Even though we added 379,000 jobs in February (w…

Blackstone CEO Steven Schwarzman took home $610.5 million in compensation last year. That could mess up the aggregate average figures for earnings a little. @ddayen prospect.org/first100/biden… https://t.co/kPWVRDZCGd

Insofar as platform economy is about outsourcing tasks, it seems to be basically a mechanism for North America to buy in services Interesting @ilo report this. ilo.org/wcmsp5/groups/… https://t.co/KunMhKzm52

8.8 m tenant households were behind on rent in December 2020, 27% of those on incomes of under $25k! If tenant protections are allowed to expire we will face an escalating eviction crisis. files.consumerfinance.gov/f/documents/cf… https://t.co/0uKVbfter1

2.1 Million American homeowners were 3 months behind on mortgage payments in December 2020! The risk of a crisis of homelessness is very real. files.consumerfinance.gov/f/documents/cf… https://t.co/sPLLGZ9C8Z

Profound split inside Bank of England over inflation outlook. Haldane v. Vlieghe V. Interesting this by @ScouseView Sure, vaccines will boost UK growth in 2021, but were is the evidence for significant inflation overshooting? bloomberg.com/opinion/articl… https://t.co/GmxkbiJVGu

We are a few weeks away from a year of record breaking unemployment claims in the US. In half a century there has never been anything like the churn in the labour market of the last 12 months. calculatedriskblog.com/2021/03/weekly… https://t.co/cycZgarcZY

Optimism about the UK vaccination campaign and more rapid recovery should not distract from the permanent loss of GDP. To offset this would require overshooting. And picture is even More grim if you extend this graph back to 2000! ft.com/content/868cf3… https://t.co/nokZGg25vF

“indecisive signal” on decarbonization out of China’s two sessions. "We were hoping for more answers on climate issues, but what we got are more questions.” @LiShuo_GP ft.com/content/b7909f… https://t.co/ToP3QwUr9S

Rating agency insanity is impacting @AFDB_Group. Because Canada was downgraded & Fitch shifted US to “negative” outlook, callable capital of Africa’s lading development bank is put in question -> Ger, DK, Swe need to pony up to preserve AFDB AAA standing! theafricareport.com/69128/how-ades… https://t.co/Edn6V4oE8B

In 1980 Janet Yellen published in the AER a rather interesting paper on post-keynesian economics in which she takes on Harcourt, Davidson, Minsky, Kregel, Eichner et al. And ends with an interesting contrast btw history and logical time/dynamic modeling. (May, 1980), pp. 15-19 https://t.co/7lZ2vNdizq

"Sometimes people punch walls. They punch other objects too, but it’s mostly walls." 3/4 male 1/4 female. Mainly young. Based on hospital visits that resulted from wall punching … Deadpan, humorous and insightful from @collinskeith @qz qz.com/582720/america… https://t.co/lwiE1WpoVN

"Since the start of the coronavirus crisis, the US labour force has lost 4.3m people, including 2.5m women, who are neither in work nor searching for it." -> US official unemployment rate increasingly misleading as guide to labour market slack. ft.com/content/10c3d7… https://t.co/ysugUjGi99

For decarbonization we need carbon price >$50. EU’s ETS is hitting $40 -> discussion about how to “limit speculation”. CRAZY. Speculation is working! When I wrote this @socialeurope column I didn’t even know how necessary it was! socialeurope.eu/carbon-pricing… bloomberg.com/news/articles/… https://t.co/BhsduuRcdY

RT @DRanghetti: One of the many reasons it doesn't make much sense to mechanically refer to the 70s case when taking about current inflatio…

NAFTA will soon start aging in place. In the last half century, Mexico has undergone a spectacular demographic transition. Politics of immigration in US needs to catch up with new realities. @noahopinion bloomberg.com/opinion/articl… https://t.co/RoIGzyAWRI

"Long-term Treasuries, 10 years or longer, have recorded a loss of 10 per cent since the start of 2021 on a total return basis that takes into account price declines and interest payments” good for hedge funds that bet on reflation trade. @journofletcher ft.com/content/53097c… https://t.co/dWh0kViipu

"Most studies estimate somewhere around 11 m undocumented immigrants living in the U.S. A few argue that there are about twice that number. But what all the studies agree on is that the unauthorized population has been falling since 2007." @noahopinion bloomberg.com/opinion/articl… https://t.co/N1bZXdS4Ln

RT @jmhorp: @RichardRubinDC @oh_HOLMES For post-secondary history teachers, it is true: about $74,000 in Georgia bls.gov/oes/current/oe…

@SchemaReader @nic__carter @parkeralewis @PrestonPysh Cheers. Much appreciate the pointers.