ADAM TOOZE

London’s silver highway: photographs of the Thames at work. From the early 20th century when the city was still an industrial hub. ft.com/content/16ea46… https://t.co/L7MtVGOcth

"yield curve control was not warranted in the current environment” – remember Aug 2019 when Bill Dudley suggested that the Fed should join the anti-Trump resistance and everyone winced? Is this the soft version? @MSchularick ft.com/content/84952d… bloomberg.com/opinion/articl… https://t.co/2XO2rLtwCg

Since March 23 we have been in conjuncture defined by expansive Fed, declining $, recovery in equities. If Fed had committed to yield curve control that movie might have continued. It didn’t. So what is next? Yesterday $ up, equities & risk off. How will Trump react? @SoberLook https://t.co/9zZgSdiQsA

Watched #Coup53 new documentary about overthrow of Mosaddegh by Taghi Amirani. It really is engrossing. Montage of footage from different eras is fantastic. You won’t be surprised if you follow debate, but having material put together like this is great! theguardian.com/film/2020/aug/… https://t.co/yp0LPVdnd9

Tech dominance of S&P500 is a big theme right now. I found this @FT graphic of rebound from low of 23 March eye-opening. There are two phases in which tech does all the driving: mid-Apr-mid-May, since 2nd week June. But recovery based on entire index. ft.com/content/8b95f3… https://t.co/v2rq3bdp2a

“What we’re trying to do is become as regulated as is possible” – why Wall Street and US power utilities love the regulated business. ft.com/content/cd66e8… https://t.co/B5l6UPQu1o

Hail to the Pencil Pusher American Bureaucracy's Long and Useful History – a while back @rortybomb re-upped this essay in the @BostonReview from 2015. He was right to! Its excellent and, inshallah, may be extremely topical in 2021. bostonreview.net/books-ideas/mi… https://t.co/MyTK12RhLL

"The Fed Shouldn’t Enable Donald Trump: The central bank should refuse to play along with an economic disaster in the making”. Bill Dudley Aug 27 2019: So what does Fed do if we are in disaster, GOP is refusing fiscal action & election is 12 weeks away? bloomberg.com/opinion/articl… https://t.co/dqzk2DaWSy

Steel-for-fuel-for-profit favors green energy in US. The more they sink money into wind turbines, solar farms and batteries, the more they increase the “rate base” on which utilities may generate a regulated return -> Wall Street approves.   ft.com/content/cd66e8… https://t.co/MQdiWOdQiz

"Pets are not cuddly toys,” – “one rule for all dogs”: Germany: Dogs must be walked twice a day under new rule. dw.com/en/germany-dog… https://t.co/niVYMPcbIG

America’s roads are deteriorating and there is no funding in state and local government to fix the problem. bloomberg.com/news/articles/… https://t.co/UTmT7zv2FU

RT @M_C_Klein: China’s Weak Consumer Recovery Is Bad for China—And World Trade barrons.com/articles/china… <– Europe and the U.S. have had r…

Aug 19 1870: "Undoubtedly, if General Moltke be old, his plans have all the energy of youth. Not satisfied with having once already pushed his compact army between one wing of the French and the rest of their troops, he now repeats the same manoeuvre over again” Frederick Engels https://t.co/0y1ROQ1856

Even with current unsustainable fishing practices maintaining a constant production of fish per capita of global population will require continued growth in aquaculture. @FAO @UNCTAD via @SoberLook https://t.co/xzKHMmemKW

Since 1980s global consumption of fish has doubled but virtually the entire increase was met by aquaculture. @FAO via @UNCTAD h/t @SoberLook unctad.org/en/Publication… https://t.co/XoZ3a81aXw

Google has a 71% share of search driven advertising! @profgalloway And we wonder why the big 5 tech firms are driving surge in US stock market!? profgalloway.com/fire-fawning https://t.co/Yo8zHdbe2G

It takes Netflix and Amazon a lot of money to generate an Emmy! More great graphics from @profgalloway profgalloway.com/fire-fawning https://t.co/xJTX7nYx3L

The relatively recent surge in plastic production has rapidly created a huge problem of global waste and it is going to get worse fast. Huge consumption in Asia will be the main driver. @SaabiraC wsj.com/articles/ocean… https://t.co/q40caVKCkW

82% of American homes have Amazon Prime, more than voted in the 2016 election, have a pet, attend church, or decorate a Christmas tree. These graphs from @profgalloway are fantastic! profgalloway.com/fire-fawning https://t.co/qHqQKgFoF1

Amazon and Alphabet/Google both have more lobbyists than there are sitting Senators in the US Congress. @profgalloway profgalloway.com/fire-fawning https://t.co/hB1Up1x96G

RT @Joefranks72: @adam_tooze @ISABELNET_SA @SoberLook Given Sean Starrs' research on national ownership of largest companies, this indicat…

Last year, Amazon paid $162 m in federal tax while your largest competitor, Walmart, paid almost $3 billion. Do you think this level of participation in our country’s infrastructure & services is appropriate for a company worth $1.5 trillion? @profgalloway profgalloway.com/fire-fawning https://t.co/H7sdIOIuoC

@sumlenny No doubt we will refer to UK as post-Brexit. But, in any case, the suggestion that membership in the EU was analogous to subordination to Soviet bloc is specious.

@sumlenny In fact, for a long time we did call Hungary post-socialist until it underwent one very dramatic transformations and then another. And, very obviously, Dresden is a city in the East of Germany which is not merely a geographic label.

@sumlenny I am sorry, there is an obvious and far from merely formal distinction btw independent states in soviet bloc e.g. GDR, Poland and Soviet Republics like Belarus or Ukraine.

RT @ryanstruyk: Do you personally know someone who has been diagnosed with the coronavirus via @CNN polling: APRIL: 22% yes, know someone…

Golden Age? How good a bargain are the TV/film streaming services? It depends- $ in subscription per $bn of content. What could possibly be funding Apple’s extraordinarily low-cost offering, wonders @profgalloway H/t @SoberLook profgalloway.com/fire-fawning https://t.co/yLZ9zNOWV3

Ten years ago big tech/Silicon Valley did not spend much money on lobbying. No longer. @StatistaCharts via @SoberLook https://t.co/lDB1kviMvO

RT @ShazCoder: @adam_tooze Nope. One thing to note is that conception of rule of law is somewhat different in PRC. The purpose of improving…

@nboserup The argument of @TheEconomist piece was that the administrative law cases actually do involve challenges at least to the state if not, perhaps, the party. Is that a misapprehension?

Reversing economic time or shoots/snakes & ladders. We rolled a bad die & COVID GDP- shock/eurozone/2008 has hurled us back to: Q3 1993 if you are Italy! 97 Greece, 98 Portugal, 05 for the whole euroarea. China only place where clock still ticking forward. @SoberLook @jsblokland https://t.co/uy9TVpxDoj

China’s legal system is a tool of political oppression but it is also, increasingly, a tool of property rights protection: huge surge of administrative & IP law cases. Liberal modernization theory suggests those two things must clash. Will they? economist.com/briefing/2020/… https://t.co/j0yc95LQr1

What is China’s share of global luxury consumption? Is it really as low as the 10% share in this @FT @laureni chart? ft.com/content/c93882… In fact, Chinese consumers = 35% total global market share. BUT they spend whilst traveling outside China, show up in Europe & US data. https://t.co/jQ2i22Q35D

Louis Vuitton’s 2020 live show in Shanghai was attended by 1,500 people in person and another 104m online — roughly 2 % of global netizens! 1/50 of the online world! For a catwalk show! Five times that of Louis Vuitton’s previous men’s show.  ft.com/content/c93882… https://t.co/gXgqjlzFFh

Due to the surge in lumber prices, its horribly expensive to build houses in the US right now. @SoberLook thedailyshot.com/2020/08/18/the… https://t.co/4YiP9ayyiE

Blue-collar jobs were the first to go in the COVID shock, but now, in the UK, US and elsewhere, middle management and office roles are in the crosshairs. ft.com/content/596e49… https://t.co/J1LdRBz7W4