ADAM TOOZE

Globalization constrains national economic sovereignty. But there are ways, at a price, of softening those constraints. For EM with large export potential one route is to build up large fx reserves e.g. Saudi, Russia, Brazil Data Pavilion via @SoberLook thedailyshot.com/2020/09/03/opt… https://t.co/1jcQrbePlc

The economy of Belarus was slowing down dramatically even before the current crisis hit. @SoberLook thedailyshot.com/2020/09/03/opt… https://t.co/fWlq9GmMsH

Nigeria’s trade balance has plunged into deficit. @SoberLook thedailyshot.com/2020/09/03/opt… https://t.co/psReWO6FOB

To judge by personal popularity, a German election which pitted @OlafScholz against the CSU’s Markus Söder of Bavaria as the successor to Merkel could be a closer-run affair than one might imagine. twitter.com/KeineWunder/st…

Hard hitting testimony (in German) on the difficulty of making it out of Hartz IV welfare to College and beyond. H/t @JohnSacarmiko reddit.com/r/de/comments/… https://t.co/DN8BAE7V4F

Hedge funds are pressing their bets against the US dollar. @GoldmanSachs via @SoberLook https://t.co/9TO8vUntAc

Lumber prices have surged to all-time highs. Putting huge pressure on construction costs across US. @BofAML via @SoberLook https://t.co/119TGno0OJ

Vietnam’s trade surplus has surged over the summer of 2020. It may trigger trade tension with the US. @SoberLook thedailyshot.com/2020/08/31/mig… https://t.co/rAr6EhzxFl

RT @crystalbennes: Rereading @shannonmattern's awesome piece from 2017, The Big Data of Ice, Rocks, Soils, and Sediments & mourning loss of…

@Westmoorland83 @cwboebinger It was seen, by the Prussians themselves, as a far more dangerous situation that we generally credit. The French might recover. The Russians/Austrians/Brits might intervene. Bitter arguments on victorious side about how to win asap.

South Africa’s budget deficit has exploded in 2020 to respond to the scale of the COVID crisis. thedailyshot.com/2020/08/31/mig… https://t.co/JPKdczUy1Q

The precipitous collapse of the Brazilian real reached its low point in mid-May. There has been a stabilization but no rebound. @SoberLook thedailyshot.com/2020/08/31/mig… https://t.co/js8ib905H5

Macau the great Asian gambling center has suffered a catastrophic loss of tourist traffic and business. @SoberLook thedailyshot.com/2020/08/31/mig… https://t.co/lfzyWlariI

RT @luebberding: In der neuen Ausgabe der @blaetter ist ein bemerkenswerter Artikel von @adam_tooze über das zukünftige Konfliktpotential z…

“A world historic event, a victory we owe to the almighty … who decides wars, even if we have to continue that war against the emperorless France.” Bismarck after Sedan. twitter.com/krieg7071/stat…

RT @Krieg7071: Es ist ein weltgeschichtliches Ereignis, ein Sieg, für den wir Gott dem Herrn in Demut danken wollen und der den Krieg entsc…

After capitulation Of French army at sedan, German forces march on Paris with aim of encirclement. twitter.com/krieg7071/stat…

Excellent @MESandbu piece calling on @ecb to follow Fed in recognizing responsibility for employment. ft.com/content/380e62… Argument even stronger if you lay out the historical origins of Fed dual mandate, as in a piece I did in @socialeurope socialeurope.eu/what-are-centr… https://t.co/57rONHuCUc

RT @bencasselman: Again: Unemployment claims ROSE last week on both a non-seasonally adjusted AND apples-to-apples seasonally adjusted basi…

RT @Krieg7071: Insbesondere das Bild eines toten Uhlanen, in dessen Schoß der abgetrennte Kopf eines Franzosen lag, will ihm nicht aus dem…

RT @MFratzscher: Es mag beim Kurzarbeitergeld auch um eine Machtfrage gehen — aber für mich ist es vor allem gute Wirtschaftspolitik, die s…

RT @RobinBrooksIIF: There was a debate earlier in 2020 what policy support the international community needs to give EM. That debate died,…

Has the shift back towards Trump in key US battleground states hit its limit at the level of March 2020? @RealClearNews realclearpolitics.com/elections/trum… https://t.co/hppPADbLty

Dollar slides as bond market signals rising inflation angst @adamsamson @colbyLsmith Great illustration that accompanies this piece. ft.com/content/99e2d0… https://t.co/VNOuHGHjKB

Excellent @MESandbu piece calling on @ecb to follow Fed in recognizing responsibility for employment. ft.com/content/380e62… Argument even stronger I think if you lay out the historical origins of Fed dull mandate. As in a piece I did in @socialeurope socialeurope.eu/what-are-centr… https://t.co/z87pM44AMk

ECB should recognize that its mandate does not justify a one-eyed focus on inflation. It Is legally required to “support the [EU’s] general economic policies” and this includes full employment -> @MESandbu argues it should follow Fed in making this clear. ft.com/content/380e62… https://t.co/5DLZFfoJGv

Currencies market have no centralised trading venue -> tricky to determine which types of market participants are, in aggregate, buying or selling at any time. US CFTC data capture a limited slice of market but are best available. @eva_szalay ft.com/content/632540… https://t.co/8QVji6t2d7

In August positive bets on the euro surged to an all time high. Markets displayed a “deep infatuation” with idea that $ would keep sliding and euro would climb. “Positioning data went from ‘extremely’ to ‘stupendously’ bonkers” @RobinBrooksIIF ft.com/content/632540… https://t.co/3YMQGoTryN

The euro rose this week close to all-time highs against a trade-weighted basket of currencies raising fears about deflationary pressures and prompting ECB policy-makers to start trying to jawbone it down. @MAmdorsky ft.com/content/c98628… https://t.co/Mnx9SZVIMB

Devastating collapse in new tenure track job openings for academic historians on h-net. Thanks to @benmschmidt for compiling the numbers. twitter.com/benmschmidt/st…

"“open strategic autonomy” is clunky moniker devised by EU to sum up its determination to protect companies from aggressive competition and reduce reliance on global supply chains for critical goods” @jimbrunsden @Sam1Fleming Check out @alanbeattie Parody! ft.com/content/4da251… https://t.co/rstiCihppV

Deadline to join the global Covax programme had been pushed back from August 31 to September 18, with rich countries dragging feet and looking for national deals. Payments not due until Oct 9. US has ostentatiously opted out. ft.com/content/502df7… https://t.co/Hdz8KnoIwE

India officially recorded more than 1,000 COVID fatalities on Tuesday, and detected more than 78,100 new infections = largest in world > Brazil & US. Whilst making efforts to revive the economy that contracted 25% yoy in Q2 2020. ft.com/content/dda180… https://t.co/TM9iuPFZeD

RT @oilgaslawprof: Oil and gas service giant, #Schlumberger sells North American #fracking unit. #oilandgas

RT @ProfLWiley: I've been speculating since Feb. abt whether CDC might push the envelope on what Section 361 of the Public Health Service A…

Fintwitter may be interested to check out @bankofengland new Agenda for Research Indeed, one is tempted to remark that monetary policy right now IS a research agenda and NOT just in the UK! bankofengland.co.uk/research/bank-… https://t.co/3ytzDlcY3p