ADAM TOOZE

RT @PP_Rubens: Prince Maurits & his entourage, come to watch skating on the hofvijver. Should put on skates & join the winter fun! By Adam…

RT @NatashaBertrand: Raffensperger adviser to @MarcACaputo on why they recorded their call with Trump: “Lindsey Graham asked us to throw ou…

John Plender starts 2021 thinking back over the March turmoil in Treasury markets. ft.com/content/5df1b0… https://t.co/Nw1A2inLLR

“China FM Wang Yi starts 2021 with Africa tour = 30-year old custom of Beijing’s top diplomat starting the year with a visit to Africa” @eolander Nigeria – crucial for diplomacy DRC – cobalt/US Tanzania – Magafuli open to talks Seychelles – Indian Ocean. chinaafricaproject.com/analysis/chine… https://t.co/ttpUDWfI6R

"QE — F = P. Quantitative easing minus fiscal action equals populism.” @EdwardGLuce on dangers of over reliance on the Fed. ft.com/content/bcb8d4… https://t.co/uPVMCE79yS

One of underestimated legacies of 2008 was: Big build up of Treasury issuance PLUS Restrictions on broker-dealer balance sheets. Both for VERY good reasons. But, consequences for Treasury market stability became evident in March 2020. bankofengland.co.uk/-/media/boe/fi… https://t.co/reZRvnITuL

120 years ago (not today) this happened! "Boxer Rebellion, 1900. American, British, and Japanese armies storming Pekin Castle, China, August 14, 1900. Torajiro Kasai." Library of Congress. (5/22/2015). Source: Wikimedia Commons. Courtesy of forthcoming article by @jwassers https://t.co/d1S6P3SI5E

How bid-offer spreads exploded in both US and UK Treasury markets: Cunliffe of the @bankofengland on the March market turmoil. And, yes! I know I have to get back to the newsletter. Just got to get this book manuscript done …. bankofengland.co.uk/-/media/boe/fi… https://t.co/0uM6aR9Vdw

RT @ojblanchard1: An interesting, sociological, issue. How fast will the emerging academic consensus on fiscal policy filter through to po…

Just a another regular day in the Persian Gulf neighborhood …. twitter.com/Intel_Sky/stat…

RT @Tank_Archives: Repair of KV-1 tanks, winter 1942. The workers are wearing outdoor clothing, as damage to factory buildings and power ge…

If you can stand it, the entire hourlong effort by Trump to browbeat Georgia’s officials into handing him the election result, is here. twitter.com/kylegriffin1/s…

RT @JohnCassidy: "What are we gonna do here? I only need 11 thousand votes fellas. I need 11 thousand votes. Give me a break." Thread from…

@AlFa47945175 @redouad Of course not. But COVAX is by its own account critically underfunded.

@Intetyst You could give it to ACT Accelerator and COVAX for a start. I bet they could find a way to spend it usefully!

@dschnaepp @Intetyst This is precisely what I am beginning to doubt. In 2020 it turns out that there are plenty of things for which there is funding, but for which we cannot find the way!

@ColdharbourAndy Im NOT singling out Germany. It just happens to have negative interest rates and a leadership broadminded enough to consider a gesture like this. It is also an export orientated economy that would immediately benefit from a global revival.

How the corona crisis impacted global shipping and trade. @UNCTAD unctad.org/system/files/o… https://t.co/s1imxlMCWr

By converting Boering and Airbus passenger aircraft, “two African carriers, Ethiopian Airlines and Kenya Airways are positioning themselves for the transportation of COVID-19 vaccines”. A major cold chain logistics facility is being built in Addis. sabcnews.com/sabcnews/ethio… https://t.co/rBSaA3KDmx

@JGarosi @BuddNicholas Individual units were regularly overrun in huge numbers in 1941 and what surprised the Germans was that they regularly refused to surrender and continued fighting. Made the rear areas far more dangerous than they were used to.

@DBachGlobal Might even be 2 orders of magnitude difference! Those kind of payoffs dont present themselves all that often. Inability to seize the opportunity to spend money this well is a spectacular indictment of status quo.

VERY interesting video about pioneering Maserati biturbo engine development of 1980s. Small 2 liter engine to meet Italian tax ceiling. First twin turbo model. 3 valves per cylinder. Then 6 per cylinder … or not. Brilliant as ever from Driving4Answers youtube.com/watch?v=uJej_k… https://t.co/sIQuxCVvm4

Labor productivity growth 2001-2017 In low income countries: Im impressed by Afghanistan’s number! Low base? unctad.org/system/files/o… https://t.co/KNyix0xKhd

@BuddNicholas I would assume that it means not surrendering and continuing the fight after being overrun.

In 1960s/70s Alejandro de Tomaso and his racing-driver American heiress wife Isabelle Haskell stirred up Italian sports car scene. He fled Argentina in 1955 after failed coup v Peron. Ended up owning Ghia, MotoGuzzi, Innocenti and, in 1975, Maserati! mycarquest.com/2019/08/detoma… https://t.co/1Dvqd6Eto4

Maserati’s impossible mid 1980s 36-valve V6. Two * 3 valves per cylinder. Each group of 3 driven by one cam! Beautiful in principle. Counterproductive in practice. Amazing video from driving4answers. youtube.com/watch?v=uJej_k… https://t.co/3ok5BGhm9J

In the world of the corona pandemic the huge disparity in digital infrastructure worldwide takes on added significance. @UNCTADNewYork unctad.org/system/files/o… https://t.co/wsm4JszejE

@ajpirzada Precisely. This is part of the new EM toolkit that both BIS and IMF have been highlighting in recent years. Significant historic development imho.

RT @fabolange: @adam_tooze @akselsays Not to speak of the benefits that helping to restart the world economy would provide for an exporting…

RT @jnordvig: @adam_tooze yes, you can see there was a brief period of reserve losses in March (no surprise there), but away from the most…

@jl911 @jnordvig Thank you

EM fx intervention (if I read this chart right @jnordvig ) has consisted most of the time (even in 2020) in selling local currency & buying fx to keep currency at “competitive” levels. moneyinsideout.exantedata.com/p/em-capital-f… https://t.co/uBxEjvmc9c

Despite excitement about globalization, US investor's EM equity allocation has been on a downward trend since 2010 after a decade dominated by US tech outperformance and USD strength. Summer 2020 was a low point. @jnordvig moneyinsideout.exantedata.com/p/em-capital-f… https://t.co/GSXGBlNYSQ

As the standoff in the Himalayas shows, “there are no easy answers to India’s China problem". @SushantSin foreignpolicy.com/2021/01/01/ind… https://t.co/08Lp8GqEdZ

Putting 2020 EM turmoil in context @jnordvig EM portfolio flows (especially equity flows to EM ex-China) have been weakening for the better part of the last decade, while China's share of total EM portfolio flows (especially debt flows) continues to rise. moneyinsideout.exantedata.com/p/em-capital-f… https://t.co/yJQNsB4wyW

"A November to Remember": If the spring saw an onslaught on EM balance of payments, November saw a huge turnaround in the opposite direction. The newsletter by @jnordvig Is excellent. moneyinsideout.exantedata.com/p/em-capital-f… https://t.co/BhTXEZ9dCB