ADAM TOOZE

US state and local government borrowing for new projects held in 2020 at levels close to pre 2008 period after a decade of slow recovery. @WSJ via @SoberLook https://t.co/WrED33uZ8H

What if the ECB could control yields (and therefore spreads) without actually having to buy bonds? Why the ECB loves the model the BoJ introduced in Q4 2016. bloomberg.com/news/articles/… https://t.co/lJIHMavLqU

A Democrat gets elected in the US and what happens, small business owners suddenly realize that taxes are their biggest problem. On a dime! @SoberLook @NFIB https://t.co/hedOLsvqaF

For all the focus on the high tech vaccine race “winners” Pfizer/BioNTech and Moderna, they are dwarfed in confirmed orders by AstraZeneca-Oxford (Not counting Novavax, which is not yet approved). @TheEconomist via @SoberLook https://t.co/EF12vhtt2P

For all the focus on the high tech vaccine race “winners” Pfizer/BioNTech and Moderna, they are dwarfed in confirmed orders by AstraZeneca-Oxford (Not counting Novavax) which is not yet approved. @TheEconomist via @SoberLook https://t.co/Dvls6XLpOB

2008: North Atlantic financial crisis of 2008 2020: Atlantic world corona crisis. @StatistaCharts https://t.co/TTZ6o1mXte

America’s NFIB small business optimism index swings with Republican Presidential fortunes. A truly political economic indicator. thedailyshot.com/2021/01/13/dea… https://t.co/5RcfSvDmdF

A quarter of American tenant families with children ended 2020 behind on rent! @CenterOnBudget via @SoberLook thedailyshot.com/2021/01/12/sto… https://t.co/WK2kzSb9TY

RT @artinsociety: In 1964, construction workers in Rome found this 2nd century ivory doll, with articulated, pose-able limbs & finely detai…

RT @kyblueblood: Powerful image: Ella Fitzgerald jailed in 1955 for singing to an integrated audience. via – KYNow https://t.co/qLs4PZFwNu

Hang on … Kandinsky was an economist before became a world renowned artist???? And he was also the uncle of Russian-French philosopher Alexandre Kojève (1902–1968). All my worlds collide …. twitter.com/m_aragoneses/s…

RT @jfkirkegaard: @adam_tooze @Amanda_Vickery :-)… the secret of a happy people – keep losing your wars and territory = low expectations…

Crucial thread from @dwallacewells on the new world of climate politics facing the Biden administration. twitter.com/dwallacewells/…

RT @DEhnts: The Content is not intended to be a substitute for professional economic advice, diagnosis, or treatment. Always seek the advic…

Watch this video from @Amanda_Vickery about the wax and wane of Denmark and one cant help wondering whether it might not be a good role model for, say … England? twitter.com/Amanda_Vickery…

RT @abarkawi: French central bank announces exit from coal as well as a cap on oil and gas investments by 2024 for its own funds and pensio…

"on its own, $15 an hour won’t fix what is broken for America’s working class. Mr Biden should push for a floor on conditions as well as hourly wages, curbing those practices that drive down labour costs by increasing worker insecurity.” @sarahoconnor_ ft.com/content/6151f5… https://t.co/2yqfFgkBMp

PS gotta love the fact that the great @sarahoconnor_ is writing about US labour market issues! Read her brilliant essay on low-wage garment sector work in UK here: ft.com/content/e42732… twitter.com/adam_tooze/sta…

Throughout the pandemic, US genomic sequencing capacity has lagged behind that of the UK -> country with biggest outbreak has undersized capacity to track mutations that could affect entire world! @hannahkuchler ft.com/content/1aa2f0… https://t.co/BPHHrI5glQ

I thought Algeria might be weak link in 2020. Tunisia, it turns out, is under even greater stress: Economy contracted 8 % = biggest since independence in 1956. Growth since 2011 = 1.8% Youth unemployment 36.5% @njtmulder @hebamks ft.com/content/a8db6e… https://t.co/pLFB0hVJsV

Bumper crop of good China comment in FT today. @MESandbu ft.com/content/292413… referencing the @jamescrabtree dual circulation piece that I also picked up in my Chartbook Newsletter # 9 on China. adamtooze.substack.com/p/chartbook-ne… https://t.co/SbAW74pfRo

“I think it’s only a matter of time before the first case is presented [against Mexico under USMCA],” Kamala Harris voted against the USMCA. There may be rough water ahead for US-Mexico relations over labour, energy, policing issues. @jude_webber ft.com/content/fc8251… https://t.co/gmFv68msPz

Fallacy of Imperial/Global Britain politics and historiography in one chart. ONLY at times of war (in Europe), is Europe not overwhelmingly Britain’s largest trading partner. Never, has Europe been MORE dominant than in last half century. ft.com/content/7192f6… https://t.co/tS4jWBoqAB

JFK 1961: “torch has passed to a new generation” 2021: “new generation” still holding that torch Meanwhile, in China …. @gideonrachman on 2020. ft.com/content/5e63ea… https://t.co/ZlihAeUAMK

So far the ECB has lived with the rise in euro v. $. When does it start getting uncomfortable? $1.30? @TomStub ft.com/content/15fef8… https://t.co/P8i03nUZ1A

In Chartbook newsletter #9 (new posts coming soon), I did a comparison of WSJ and Economist approaches to China’s political economy. adamtooze.substack.com/p/chartbook-ne… Now FT comes out squarely in @michaelxpettis camp rather than @S_Rabinovitch ft.com/content/566ccb… https://t.co/3GnQMPQouD

Failure to ensure fair distribution of vaccine to frontline health staff and vulnerable population in poor countries is a “catastrophic moral failure” says boss of WHO. AU scrambling to access supplies. ft.com/content/ca57c7… https://t.co/2Ol0JjCr8c

The unemployment rate that Biden faces is actually better than most of his predecessors. But that is thanks to emergency action and does not capture extent of the crisis. ft.com/content/fa01bc… https://t.co/LQdCceKY1p

Eurozone inflation expectations are both lower than in US and less dynamic. If 2 % is target, as @RobinBrooksIIF has been saying the US does not really have a problem of lowflation. The Eurozone does! @TomStub ft.com/content/15fef8… https://t.co/DalrELp8ij

"on its own, $15 an hour won’t fix what is broken for America’s working class. Mr Biden should push for a floor on conditions as well as hourly wages, curbing those practices that drive down labour costs by increasing worker insecurity.” @sarahconnor_ ft.com/content/6151f5… https://t.co/eCBPNqVlhQ

"Since Nov the cost of shipping to Europe has been exacerbated by diversion of containers to trans-Pacific routes. By contrast, cost of shipping from China to US has plateaued since Oct, when Chinese government asked shipping companies to cap their rates.” ft.com/content/ad5e1a… https://t.co/yrROLzgVyE

RT @archaeologyart: Fragment of a Seljuk box with a combination lock, cast and hammered brass, inlaid with silver and copper. from Iran, Is…

@BJMbraun So … not the UK?

Fancy a quick MLK day seminar on China 2020? Read @S_Rabinovitch and @michaelxpettis threads back to back. twitter.com/S_Rabinovitch/…

Laschet is not Merz -> better fit than a Black-Green coalition. BUT he is not Roettgen either -> Laschet’s middle of road business-CDU approach to foreign policy and Russia in particular may become a key issue in Black-Green negotiations. Perhaps this is role for Roettgen? twitter.com/mathieuvonrohr…

On the racial amputation gap (sic) in the American South: One of the mindblowing pieces of research on racial (in)justice you will read! From @propublica and @lizziepresser twitter.com/propublica/sta…