ADAM TOOZE

In 2020 so far Ecuador, Lebanon, Belize, Suriname, Argentina and Zambia have defaulted v. Only 3 sov defaults after 2008. Could be more to come. @RobinWigg ft.com/content/35c58b… https://t.co/THn5iyKppY

Out Saturday: Chartbook Newsletter #3 will highlight 2 key topics in today’s political economy (1) Central banks & fiscal policy, EU & US. (2) The urgency of global debt relief at G20 meeting. To get the newsletter straight to your email, sign up here: adamtooze.substack.com https://t.co/dcpJhmjrJb

There is considerable room for argument about comparability of UK gov spending figures in the 2020 crisis. Less so when it comes to the particularly sharp fall in consumer expenditures. @ChrisGiles_ ft.com/content/c5d72d… https://t.co/XIZovhYjZH

Can't be emphasized often enough that since the pre 2008 peak, exports of goods have made up a declining share of China’s GDP. Domestic growth is the overall driver. @scotiabank via @SoberLook https://t.co/Q6wI2ELdIu

"the story of a mind finding itself, groping about for the theoretical scaffolding on which he would erect his thought." Sartre’s War Diaries. theguardian.com/books/2020/nov… https://t.co/rQiFJ6XFuS

Prospect of losing President Trump has crushed GOP consumer confidence. Meanwhile Dems are as gloomy as ever. @MorningConsult via @SoberLook https://t.co/3cP0zf6F85

@tom_nuttall thanks. Sorry for delayed tweet!

Regular (state) unemployment benefits are running out for many Americans who have been out of work for a while. They are relying on the emergency programs, which are scheduled to stop at the end of the year (the “income cliff”). bloomberg.com/news/articles/… https://t.co/5fa8d101cr

Even for states Trump won, Democrats trust the results more than Republicans @MorningConsult morningconsult.com/form/tracking-… https://t.co/7mab1q5XMa

2020 is far from being the first US election with a legitimacy issue. A large minority of Republicans have doubted every election since the 1990s. @MorningConsult morningconsult.com/form/tracking-… https://t.co/W39Oi46YMC

As the pandemic surges in Europe, the outlook for GDP growth in Q4 2020 has crashed. Highlights from Chartbook #2. Sign up for the new newsletter here: adamtooze.substack.com https://t.co/CU0dXiPeYe

RT @jeannasmialek: Let's talk about what is going down here. My friend @arappeport and I wrote last week that Treasury might try to kill…

RT @RealTimeWWII: Red Army are launching Operation Uranus, a huge new offensive: colossal 500,000-man pincer movement to smash into German…

Even for states Trump won, Democrats trust the results more than Republicans @MorningConsult morningconsult.com/form/tracking-… https://t.co/tnnwmPXJIT

2020 is far from being the first US election with a legitimacy issue. A large minority of Republicans have doubted every election since the 1990s. @MorningConsult morningconsult.com/form/tracking-… https://t.co/vySMXP9j8V

How the dollar gold peg became unsustainable. In 1945 US gold holdings = $20.1 bn v. $ reserves outside US of $4.2bn 1972 $10.5bn in US gold holdings v $61.3bn in dollar reserves. From a classic 1973 essay by Richard N. Cooper in @ForeignPolicy archive. digital.olivesoftware.com/olive/APA/Fore… https://t.co/oIgm1ki0gd

2020 could be a record year for U.S. wind turbine installations @EIAgov eia.gov/todayinenergy/ https://t.co/IaMKQaHFi6

"Experts estimate data centres account for less than 0.1% of the world's carbon footprint, a small figure compared with the 20% blamed on cars.” But unnecessary emails DO warm the planet. What I worry about are tweets! And with charts … oh no! ft.com/content/592e29… https://t.co/ZPSQeBhgoX

@mark4harrison Yup. Which is why I based my interpretations on two things which are certain: armaments production hits a plateau and Speer’s ministerial staff were struggling with a Zulieferungskrise, which they were in NO doubt was real.

“Chronic China bull”, Ray Dalio, “people have accused me of being biased, naive, and in some cases unpatriotic. I think I’m just being objective.” reuters.com/article/idUSKB… https://t.co/6REGPtKvRC

RT @JobbingLeftieH: @adam_tooze Not sure ecological damage to USSR was ignored – key part of dissident movement, supported by anti CP left…

@alex_callinicos NB this is an excerpt from an essay about Poulantzas. So Bob is talking about Marxism of the postwar era in an effort to contextualize P’s blindspots.

"Peru has long been known as more than just a hotbed of counterfeiting. It has been called the world’s largest manufacturer and distributor of counterfeit U.S. currency, with at least one raid reported annually since 2012.” H/t @dusty4077 coinworld.com/news/precious-… https://t.co/83Y02BEm5S

RT @poltheoryother: "Abstruse theorist dies" – how the New York Times responded to Jacques Derrida's death. h/t @petesalmon https://t.co/ed…

Have long thought that we underestimate the Boer War in our understanding of the “late Victorian climacteric”. Pivotal for modern conception of imperialism, also. twitter.com/historian1914/…

Why did Marxist theory for a long time pay little or not attention to ecological questions? Excellent list of reasons from Bob Jessop ranging from anti-Malthusianism to denial of damage done in Soviet Union. journals.uair.arizona.edu/index.php/JPE/… https://t.co/CZshVKhNae

@mark4harrison Last time I looked, I remember thinking that British Bombing Survey methodology was biased against finding effects because it looked for them locally i.e. within certain distance of a bombing raid, whereas disruption of supply chains was far-flung and unpredictable.

@mark4harrison HI @mark4harrison thanks for taking the 1943 flatline argument seriously. I take your point about aircraft production. BUT the problem was not localized too Ruhr. It was about basic subcomponent originating in large part in Ruhr. The ultimate problem could show up anywhere.

Industrial metals, raw materials for China’s growth engine, went into 2020 already depressed by the manufacturing slowdown of 20018-9. Their prices have now recovered to pre-slowdown levels. @SoberLook https://t.co/8EZ6xoOF1G

RT @elvira_rosert: Germany and US are the two countries most effectively preventing upward social mobility. twitter.com/adam_tooze/sta…

RT @ErikFossing: Stunning. Easy now to see why Trump &Co have been so successful with their warnings against European style socialism ….…

RT @adam_tooze: Ahead of the 2008 crisis the Euro was beginning to rival the $ as a currency for foreign-currency denominated debt issuance…

“It is a book for the dinner table not for the desk,” concluded Robert M. Solow’s review of The New Industrial State (1967) by John Kenneth Galbraith in the fall 1967 issue of the Public Interest. Outch! @Erock1761 Verena Halsmayer in journals.uchicago.edu/doi/full/10.10… https://t.co/S3Em4Pgl9t

Since 1980, the pretax income of the bottom half of workers in European countries has grown by 37 percent. For the bottom half of Americans, pretax income has risen only 3 percent. From major @PIIE study on inequality in AE. Based on @lucas_chancel et al piie.com/microsites/how… https://t.co/CzsrWhRsGq

RT @PhuckleI: Snapshots of the world. Well worth a visit. Excellent digest of global movements and historical forces. https://t.co/4AlCpkUO…

The export of North Korean labor to Russia began in 1946 and continued, almost uninterrupted, until recently. NO I did not know that this was a thing! But this article is very interesting. Most recently in closed construction sites in Far East. eng.globalaffairs.ru/articles/north… https://t.co/bzXsBvyfQo