ADAM TOOZE

In November 2020 5 spacecraft – 2 American, 3 Russian – docked at the International Space Station! H/t @SoberLook nasa.gov/feature/visiti… https://t.co/p7JAGjCpH6

"Why it is misleading to blame financial imbalances on a saving glut. New research calls for a careful distinction to be made between saving and financing flows”. Excellent explainer from @TheEconomist economist.com/finance-and-ec… https://t.co/G68ySHy3Iu

1981: UCSF's Marcus Conant, MD, and Paul Volberding, among the first physicians to diagnose and treat patients with AIDS, discuss Kaposi's Sarcoma within first months of identifying the syndrome. ucsf.edu/news/2011/06/1… https://t.co/H7VedZ4av8

‘Our menu is very Darwinian’ Lunch with the FT with a difference. McDonald’s CEO Chris Kempczinski: ft.com/content/2227df… https://t.co/hOhInUIuSZ

RT @XHNews: The construction and operation of marine ranches is changing the production mode of China's fishing industry. The technologies…

A record $18trn of bonds now have negative yields. thedailyshot.com/2020/11/23/us-… https://t.co/Lw6KyApG8F

74% of Germans approve “very” high public debts to fight corona. 85 % support amongst Merkel’s conservative CDU! #1. Germany IS having a good pandemic! H/t @AchimTruger twitter.com/AchimTruger/st…

As vaccines become available the crucial question will be who, who has the right ones under order. AE have bulk order for all the most promising options. @GoldmanSachs via @SoberLook https://t.co/3M2lxqWUvq

"In Britain the number of people studying China at university has dipped each year since 2017. Last year it fell by 90 to 1,434, according to the Universities’ China Committee in London, which promotes China studies in Britain.” Trend in Australia is same. economist.com/china/2020/11/… https://t.co/Fiajn6Kub8

The thing about zombies – the undead – is that they aren’t … dead. In fact they have been outperforming the S&P500. @ArborResearch via @SoberLook https://t.co/O6CBCrR0QG

Indian GDP declined 7.5% last quarter you, following 24% contraction in Q2 = first consecutive quarters of contraction, technical recession, since India’s quarterly GDP data began in 1996. bloomberg.com/news/articles/… https://t.co/n77lgkVqjs

Cancellation of debt purchased by ECB during corona pandemic is attracting support in Euro area -> ECB pushes back! bloomberg.com/news/articles/… https://t.co/3oFlVyXRaH

Seven of the ten fastest growing economies around the world in 2020 will likely be in Africa. Add a note of caution to the Ethiopian number. bloomberg.com/opinion/articl… https://t.co/JVaeWlvNLt

RT @TPpodcast_: We don't often shout about achievements but – 2020 – so we're thrilled to announce that Talking Politics just passed 20 mil…

RT @MacdonaldUkah: Glad I saw this before dawn! twitter.com/Nairametrics/s…

RT @archaeologyart: Board game from the ancient Indus Valley civilization, ca. 2,000 BC. https://t.co/hk9FAmawez

RT @olgatuleninova: René Magritte: "Los amantes" 1928 https://t.co/hCQOBeyOF8

RT @olgatuleninova: Gustave Caillebotte Título original: L'Yerres, effet de pluie Efecto de lluvia Francia, 1875 https://t.co/gOCom3zRoc

RT @njtmulder: Ideal pocket square for this historical conjuncture https://t.co/NZbuo4kVFC

RT @bpmehlman: Democrats appear likely to hold their smallest House majority since 1875-77: bit.ly/2020-Elections… https://t.co/NrmIysIK0I

@DanielaGabor If AE lenders want to bail in the bond holders then they must stand ready to substitute concessional lending on a large scale to compensate for lack of market access.

@DanielaGabor As far as I can figure it, the borrowing countries are desperate to preserve market access and view push to enroll private bondholders as driven by political concerns of AE rather than needs of borrowers.

@DanielaGabor Yeah sorry typo from on the go. "Vera Songwe, UN under-secretary general and head of the UN Economic Commission for Africa, says the last thing developing countries need is enforced private-sector involvement in debt relief." ft.com/content/f665b6…

@DanielaGabor Hi @DanielaGabor what do you make of fact that Unac has actually asked for the bond holders not to be enrolled?

In 2020, euro area banks’ exposures to domestic sovereign debt has risen by almost 19% in nominal terms = largest increase since 2012. Prospect of a new doom loop makes the @ecb a worried central bank! On this and much more check out the new newsletter at adamtooze.substack.com. https://t.co/1hfCLQY5MR

Latest ECB Financial Stabillity Review expresses serious concern about EA banking sector. In equity markets EA banks barely outperform stranded asset sectors like oil! See Chartbook Newsletter #4 for a review of the Financial Stability Reviews. Subscribe! adamtooze.substack.com/p/chartbook-ne… https://t.co/DQ9OFOdV5v

As a result of large bond purchases, 2020 has seen strengthening of sovereign-bank nexus in Italy, France and Germany -> @ecb appears to be seriously worried about mounting risk in financial system. Check out the new Chartbook newsletter # 4. adamtooze.substack.com/p/chartbook-ne… https://t.co/Mu9uXN6jlo

Alarming evidence of a surge in extreme poverty in Myanmar with c. 30 % of households reporting NO income in Sep-Oct. H//t @thantmyintu ebrary.ifpri.org/utils/getfile/… https://t.co/xB27QysISf

RT @dfweb75: 27 novembre 1838 Début de la bataille de San Juan de Ulúa, durant l’intervention française au Mexique de 1837-1839 https://t.c…

Lending to European firms in H1 2020 was strongly driven by loan guarantees. Credit standards are expected to tighten amid higher credit risk going forward @ecb anxious that guarantees be maintained. For more discussion see Chartbook Newsletter # 4. adamtooze.substack.com/publish https://t.co/XWlYOX1qkZ

Creating a safe asset for Europe: New debt issued for EU recovery fund and SURE will increase pool of AAA Euro area “sovereign" debt by 1/3. ecb.europa.eu/pub/financial-… https://t.co/bTy5IO6U9L

The EU Response to the COVID Crisis: Preventing the Great Fragmentation & turning market sentiment towards the euro. This was a great discussion with Marco Buti of the Commission and @nicolas_veron hosted by @ColumbiaEurope youtube.com/watch?v=35l_Tx… https://t.co/RHU6edTf2e

If I read this graphic correctly, 1/3 of Italy’s banks are one notch away from losing investment grade status and 80 % of French banks face a negative outlook. @ecb worried about funding costs! ecb.europa.eu/pub/financial-… https://t.co/dapAhjz1YA

ECB is issuing an alarming forecasts of a surge in insolvency across Euro area. ecb.europa.eu/pub/financial-… ECB far more alarmist than Fed at the point. See Chartbook Newsletter #4 adamtooze.substack.com/p/chartbook-ne… https://t.co/mMLDCCjdWt

"Biden administration faces a housing booby trap The battle for Fannie Mae and Freddie Mac is heating up" Dizard as always brilliant! ft.com/content/b2c198… https://t.co/rWwBmFDuCQ

"Credit risk has increased for small and medium-sized enterprises in particular, and they are more exposed than larger firms to tightening credit conditions once loan guarantees expire.” @ecb sounds alarm. For a discussion see Chartbook Newsletter #4 at adamtooze.substack.com https://t.co/31FSn3zfW0