ADAM TOOZE

@jentaub @NathanTankus @StephanieKelton @rohangrey Cheers. I had missed that. In other words shifting the terrain away from money-inflation and towards fiscal-inflation linkages leaves basic battle lines unchanged.

The toll taken by fossil fuels as measured by deaths per terawatt-hour (enough to supply 27k EU citizens for a year) is extraordinary! @OurWorldInData Coal claims c. 1 death for every 1000 people supplied with power for a year! Is that plausible? @SoberLook https://t.co/4sX7bv6HT4

Would love to get MMT take on Larry Summers intervention over $2000 stimulus checks. @NathanTankus @StephanieKelton @rohangrey Agree or disagree with his assessment, this is precisely the kind of debate you envision, right? Fiscal policy evaluated for its inflation impact? https://t.co/ZC6CR6Mkdo

Along the Danube, the economically and historically closely linked states and countries of Baden-Württemberg, Bavaria, Austria and Hungary form a bloc. direkt36.hu/en/a-magyar-ne… https://t.co/zxtlO3549v

Income distribution in Brazil and the US are very unequal, as measured by ginis. They also have very large gender wage gaps. @OECDeconomy read.oecd-ilibrary.org/economics/oecd… https://t.co/Vo8d9TJ5rp

Urban may have eventually climbed down in the EU but this in-depth report on his deep links to Germany, to German industry and car industry in particular is fascinating. Great work by @direkt36 direkt36.hu/en/a-magyar-ne… https://t.co/BNx63OO1GH

For 2020 through November, US colleges and universities issued more than $41.3 billion in taxable and tax-exempt fixed-rate debt, including refinancings = record & bulk of debt is attracting great rates from yield-chasing investors. wsj.com/articles/bond-… https://t.co/g0JguJ4jxq

Brazil’s recession from 2014 was painful and really protracted! One for @SoberLook from @OECDeconomy read.oecd-ilibrary.org/economics/oecd… https://t.co/qFtQU7giTh

Gadgets Kit Washing Machines Outboard motors Electric razors Walkie Talkies Transistor Radios Waste disposal units Cameras Always turning to Reyner Banham’s essay The Great Gizmo for an understanding of modernity. classes.dma.ucla.edu/Spring16/104/B… https://t.co/PJGdyZxrlz

Bank "dividend bans drew criticism from some shareholders, notably those of HSBC. Although the lender is listed in London, a third of its shares are owned by Hong Kong-based retail investors who rely on its dividend for income." ft.com/content/fd5eb1… https://t.co/2LJzqTMRpi

RT @AchimTruger: English translation finally out: My minority votes in this year's annual report by @GCEE_en! Dissenting views on 1) Fisca…

RT @SchmittJunior: Ein besonderes #WohlstandFürAlle-Spezial! @nymoen_ole interviewt @adam_tooze zur NS-Wirtschaft: Spotify: https://t.co/R…

RT @nymoen_ole: Neu: Im 10. WfA-Spezial mit @adam_tooze geht es um Hitlers Wirtschaftspolitik, die Sympathien Großindustrieller für die NSD…

RT @magi_jay: Thank you @adam_tooze for responding to my request and helping me choose a present for my dad. It always makes me so happy wh…

“Vaccine by Chinese biopharmaceutical company Sinovac is 91.25 % effective, a Turkish health official said on Thursday.” @SCMPNews Turkey is expecting a shipment of 3 million doses on Monday, as part of a deal for 50 million doses. scmp.com/news/world/mid… https://t.co/B8bHsox6DV

Bad news about Sanofi-GSK vaccine is terrible news for world’s poorest countries. 200 m of 700 m doses procured by COVAX – enough to cover 1 in 10 in poorest countries – were from Sanofi-GSK. oxfam.org/en/press-relea… https://t.co/gt7il40UQZ

In 2021 inoculation campaign, Africa and Asia (ex India and China) will depend most heavily on vaccine imports. #vaccine weforum.org/agenda/2020/12… https://t.co/GTIxNCN0uu

Butter consumption in the US collapsed around WWII. 1950-1990 was the age of margarine in the US. Is olive oil the new oil? bloomberg.com/opinion/articl… https://t.co/hHxpXbWBOj

Commonly used debt/gdp ratios incoherently divide stock/flow. Adjust to flow/flow -> interest payments/gdp and you have a very different picture of fiscal history & outlook e.g. for the US: As debt/gdp rises, interest payments/gdp stagnate or fall. piie.com/system/files/d… https://t.co/480InOCp1P

Social Security Trustees Report puts present value of US GDP over infinite future as $3.8 quadrillion v. U.S. federal debt c. $21.2 trillion -> debt may be 100% of 2020 GDP but 0.5 % of infinite horizon GDP. One for your xmas dinner conversation 🙂 piie.com/system/files/d… https://t.co/fcEKhG7eWU

We routinely compare gov debt (stock) with GDP (flow). If future flow of GDP is discounted to a stock, if growth > i. r. which it often is -> NPV of expected GDP = infinite -> Debt stock/GDP stock = zero Essential point made by @ojblanchard1 @jasonfurman piie.com/system/files/d… https://t.co/IFt0PB5NPf

This is a truly fantastic list of readings for 2021. Thank you @AuerbachKeller twitter.com/AuerbachKeller…

RT @BarnabyRaine: These are my housemates, from the multi-religious Walthamstow soviet, and after Covid you are all invited to our excellen…

RT @ahistoryinart: Edward Walton's portrait is of fellow Glasgow Boy Joseph Crawhall. The question arises: 'If these are the Glasgow Boys,…

One of hallmarks of US crisis response in 2020 has been the desperate effort to make up for inadequate welfare state structures. It is a challenge captured that could be addressed by strengthening automatic stabilizers. @jasonfurman @LHSummers piie.com/system/files/d… https://t.co/zEvoA48fCv

Thirty year forecast of 1989 were far more accurate with regard to economic growth than with regard to interest rates. One my favorite slides from @jasonfurman piie.com/system/files/d… https://t.co/gRzMiO2pF9

In 2000 the US seemed on track to effectively pay down its government debt. Real 10 year interest rates were 4.3%. In 2020 debt is projected to rise to 109% over 10 years and real rate is -0.1%. One of @jasonfurman best tables! piie.com/system/files/d… https://t.co/Ewj0ufHwdA

Italy-Germany 10 Year Bond Spread 1.15% for Dec 18 2020 One of THE graphs of the year. ycharts.com/indicators/ita… https://t.co/REwNdZb7dd

Christmas 2020 in the EU. Barnier Brexit briefing. twitter.com/SFischer_EU/st…

RT @Ererepublicaine: Aujourd'hui, nous sommes le quintidi 5 nivôse, de l'année CCXXIX du calendrier républicain, jour du chien. https://t.c…

RT @alexandreafonso: The Republican calendar established during the French Revolution got rid of all religious holidays, replacing them wit…

RT @FranRothwellHug: What do you do when you’re stuck in Cambridge for Christmas? Make a gingerbread model of King’s College chapel, that’s…

Larry Summers deploying a mixture of macro arithmetic and “opposites connect” centrism to denounce $2k checks as a “serious mistake”. twitter.com/BloombergTV/st…

RT @byHeatherLong: Too often we talk about what happens in Congress & the WH like a horserace or TV drama. But millions of Americans are..…

RT @JStein_WaPo: This is the critical story today, from @byHeatherLong & @rachsieg Families on brink of eviction, hunger describe nightma…

@tedfertik @MarkMuro1 @Oceanyou5 @robmaxim Precisely. I took it to confirm the narrative we were discussing. Not one of a kind of liberal theodicy but a violent sorting.