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Chartbook by Adam Tooze delves into economic analyses, global historical events, and their interconnections. It examines challenges in China's economy, the Eurozone's crisis, geopolitical conflicts, and environmental issues, offering diverse interpretations on authoritarian economies, financial systems, and the dynamics within conflicts and policy decisions globally.

Economic Analysis Global History Geopolitical Conflicts Environmental Issues Financial Systems Policy Analysis

The hottest Substack posts of Chartbook

And their main takeaways

Top Links 629 The Credit Suisse Nazi cover-up. Global bond tremors. The Atlas of drowned towns & Eric Dolphy's last date.

357 implied HN points • 25 Jan 25
📰 News Current Events International Finance Politics
  1. Credit Suisse was involved in a Nazi cover-up, suggesting significant issues with accountability in major financial institutions.
  2. Global bond markets are experiencing turbulence, which may affect investors and the economy overall.
  3. Eric Dolphy's last performance and the concept of towns that have been drowned offer cultural and historical insights into forgotten places and stories.

Chartbook 336 Trump's victory in 2024: consolidating the anti-PMC coalition.

2660 implied HN points • 26 Nov 24
🇺🇸 U.S. Politics Elections Political parties Political Identity Populism
  1. Trump's victory in 2024 showed that the divide in U.S. politics is still very close, with many voters split almost evenly between the two main parties. This means no dramatic changes were seen in the overall support for each side.
  2. There is a growing tension between the Professional Managerial Class (PMC) and the working-class voters who feel disconnected from the traditional Democratic party values. This conflict has fueled the rise of anti-PMC sentiments, particularly among those who feel disenfranchised.
  3. The Democratic party has struggled to maintain support among diverse groups, especially working-class voters, leading to challenges in winning elections. The current political climate reflects deep-seated frustrations that both major parties need to address to stay relevant.

Top Links 624 Tariff arithmetic. The gearshift in global auto. Will India overtake Japan and Germany's likely lads.

400 implied HN points • 20 Jan 25
🇺🇸 U.S. Politics Trade policy Tariffs Global Economy International relations
  1. Tariffs can raise prices for consumers. When tariffs are imposed, it often leads to higher prices for goods.
  2. India may soon become a major player in the global auto industry. Some believe it could surpass Japan and Germany in this sector.
  3. Understanding how trade policies like tariffs impact global markets is key. They can change the dynamics of industries and economies around the world.

Top Links 627 Is the dollar overvalued? Larry Summers feeling good. Gold & the price of a Rolex & The Rise and Fall of the Italian economy.

329 implied HN points • 23 Jan 25
💰 Finance Economics Investments Currency Market Trends Global Finance
  1. The dollar's value is being questioned right now, which is important for understanding the economy. Many people are debating whether it's too high or just right.
  2. Larry Summers, a noted economist, seems optimistic about the economic outlook. His confidence might suggest some positive trends ahead.
  3. There are intriguing comparisons being made between gold prices, the cost of luxury items like Rolexes, and the state of Italy's economy. These links can help highlight larger economic patterns.

Top Links 626 The coming US labour market shock. Brazil and the bond vigilantes, China and the demand for gold & the triumph of cellular.

343 implied HN points • 22 Jan 25
💰 Finance Labor Market Immigration Economic Trends Investment
  1. The US labor market is expected to face a significant shock soon. This means there might be big changes in job availability and employment rates.
  2. Brazil is experiencing challenges from bond vigilantes. These are investors who are cautious about government bonds and could influence Brazil's economy.
  3. China is seeing an increased demand for gold. This trend indicates shifts in how people are valuing money and investments in that country.
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Top Links 628 Will IPOs recover? Worrying about France. The chances of a new pandemic & atomic spaghetti.

286 implied HN points • 24 Jan 25
💰 Finance Investing Markets Economics IPOs Pandemics
  1. IPOs have been quiet even though US stocks are doing well. This surprises some people.
  2. There's a concern about France and its current issues. People are paying attention to what could happen next.
  3. Discussions about new pandemics and food safety are becoming important. It's a reminder that we need to stay informed and be cautious.

Happy xmas from Chartbook - and Edie's xmas playlist.

1072 implied HN points • 25 Dec 24
🎶 Music Playlists Music genres Cultural Influences Personal Stories
  1. Wishing everyone a happy Christmas and a joyful holiday season. It's a time for peace, happiness, and togetherness with loved ones.
  2. Edie has created a unique Christmas playlist that mixes different styles of music. There might be some new songs for you to discover while enjoying the holiday festivities.
  3. Take some time to enjoy the music while the Christmas decorations are still up. It adds to the holiday spirit and makes for a fun listening experience.

Top Links 625 Decomposing economic surprise. When threats work and when they don't. Is quantum the new AI? And the Secret Leviathan.

300 implied HN points • 21 Jan 25
💰 Finance Economic Trends Market Analysis Investment Strategies Global Economics Data Analytics
  1. The Bloomberg Economic Surprise Index for the US shows how unexpected events in the economy can change predictions. It's important to pay attention to these surprises to get a better understanding of the current economic climate.
  2. Understanding when threats are effective or not can help in managing situations better. Knowing the right time to take action can make a big difference in outcomes.
  3. Quantum technology is being compared to AI as a new frontier in innovation. It's exciting to think about how these technologies might change our future.

Top Links 623 The billionaire rally. NYC's taxi-insurance Ponzi scheme. Obvious bollocks about sterling assets & monster wolves in Japan.

314 implied HN points • 19 Jan 25
💰 Finance Investments Market Trends Economics Financial regulation Wealth Management
  1. There's a strong focus on the impact of billionaires on the economy, hinting at a rally or surge among them. This suggests wealth concentration is becoming a big topic of discussion.
  2. The mention of a proxy involving NYC's taxi-insurance points to issues around trust in financial systems and possible schemes that hurt everyday people.
  3. References to rumors about sterling assets and unusual wildlife in Japan show how sometimes wild stories can capture attention, but they might not hold any truth.

Chartbook 332 The radicalization of Trump's GOP and the realignment of the American electorate.

2517 implied HN points • 10 Nov 24
🇺🇸 U.S. Politics Elections Political parties Voter Behavior Political Ideology Economic Policy
  1. Trump's return to power shows how voters are upset with the current leaders, wanting change after COVID and inflation. Many incumbents around the world have struggled recently, making his win less surprising.
  2. The political landscape in America is shifting, with Trump appealing more to working-class voters while wealthier, college-educated individuals are increasingly voting for Democrats. This shift highlights growing divides between different social and economic groups.
  3. Despite emphasizing issues like inequality and social justice, Democrats are losing touch with less affluent voters who are facing economic struggles. Ironically, many lower-income Americans who supported Trump might be hurt by his policies.

Top Links 622 Trump's big choices. President-Fed interactions. Lifting the wind siege & how reinsurance trimmed its wildfire exposure.

314 implied HN points • 18 Jan 25
🇺🇸 U.S. Politics Trump Economics Policy Trade Insurance
  1. High tariffs imposed by Donald Trump can be seen positively by some who believe it helps protect American jobs.
  2. Interactions between the President and the Federal Reserve are crucial for understanding economic policies.
  3. Reinsurance companies are finding ways to reduce their risks from wildfires, showing how the industry is adapting to climate challenges.

Chartbook 337 The stakes in the struggle over Trump's trade strategy.

1473 implied HN points • 02 Dec 24
🇺🇸 U.S. Politics Trade policy Economic strategy Tariffs Public Opinion
  1. Trump's new trade strategy might lead to higher tariffs, which could raise prices for consumers. It’s planned to increase average tariffs from 2.6% to around 8% by 2026.
  2. Certain industries, especially car companies and food importers, could be hit hard by these tariffs. This could lead to increased car prices and food shortages.
  3. The success of Trump’s trade policy depends on balancing the interests of trade and public opinion. If people react negatively, it could limit how far he can go with these new tariffs.

Top Links 621 The eclipse of the primary dealers. Trading real for bitcoin. A nightmare underground & the unconquered.

300 implied HN points • 17 Jan 25
💰 Finance Banking Investment Debt Trading Economics
  1. Primary dealers in finance are facing tough times managing a huge amount of government debt, which is pushing $50 trillion. This could change how they operate and their importance on Wall Street.
  2. There is a growing trend of people trading traditional currency for Bitcoin, indicating a shift in how we think about money. This could lead to big changes in the financial landscape.
  3. The concept of a 'nightmare underground' suggests that there are hidden issues or challenges in the financial world that need to be addressed. Recognizing these problems is essential for understanding the bigger picture.

Top Links 619 The payments presidency. The coming rupee shock. Musk’s space juggernaut. Saffron in polycrisis.

329 implied HN points • 15 Jan 25
💰 Finance Payment Systems Fintech Cryptocurrency Economic Trends Global Markets
  1. There's a focus on how fintech and payments are shaping politics, especially relating to Trump's presidency. It's interesting to see money technology playing such a big role in politics.
  2. India is facing potential challenges with its currency, the rupee, which could create economic shockwaves. People should keep an eye on how this may affect the global economy.
  3. Musk's ventures in space are being discussed, highlighting the impact of private companies on space exploration. It's exciting to see how the future of space travel is changing because of new technologies.

Top Links 620 Sanewashing & Starmaggedon. Congress really is at an impasse & would Lenin really have approved of the IMF?

300 implied HN points • 16 Jan 25
🇺🇸 U.S. Politics Politics Congress Economics History Culture
  1. Congress is currently stuck and unable to make decisions effectively. This shows how divided and complicated politics can be.
  2. There's talk about Britain's bond yields reaching concerning levels, but it's important to consider the larger global context. U.S. bond yields are also very high right now.
  3. The discussion around whether Lenin would approve of the IMF brings up interesting questions about economics and political ideology. It encourages us to think about how different philosophies view financial institutions.

Top Links 612 How global inflation came and went. The economic fallout from the coup in Korea and the revolution in Bangladesh & big trouble in Sturgis.

429 implied HN points • 08 Jan 25
💰 Finance Global Economy Inflation Economic Policy Market Trends
  1. Global inflation has seen significant changes, impacting economies worldwide.
  2. Political events, like coups and revolutions, can lead to serious economic fallout.
  3. Understanding these events helps us see how connected the world's economies really are.

Top Links 608 American exceptionalism. An Orwellian turn in Chinese economic commentary & can we save Hawker Centers and Axolotl from progress?

500 implied HN points • 04 Jan 25
🇺🇸 U.S. Politics Policy Economics Social Issues History International relations
  1. American exceptionalism refers to the belief that the United States has a unique role in the world. It's important to think about why this idea persists and what it means.
  2. Chinese economic commentary has taken a turn towards being more controlled and less transparent. This shift can impact how we understand China's economy and its global role.
  3. Hawker centers and the axolotl are examples of cultural and biological entities at risk from modernization. It's crucial to find ways to preserve these unique aspects of our world.

Chartbook 335 The shame of US maternal mortality - mounting crisis or chronic condition?

1530 implied HN points • 24 Nov 24
🏥 Health Politics Maternal health Healthcare access Public Health Health Disparities Reproductive Rights
  1. The US has a very high maternal mortality rate compared to other wealthy countries, which is surprising given its wealth and health spending.
  2. The maternal mortality rate in the US is not improving and shows significant racial disparities, especially affecting Black and Native American women.
  3. Some experts question the accuracy of the data on maternal mortality, suggesting that it may be overstated, but overall, the problem of high maternal deaths remains a serious issue.

Top Links 615 The great wealth avalanche. Chinese white-collar salary cuts. North Virginia, data centre capital of the world & My Beautiful Laundrette revisited.

371 implied HN points • 11 Jan 25
💰 Finance Economics Investment Markets Policy Wealth
  1. There is a significant shift in wealth distribution happening, which is often referred to as a wealth avalanche. This means that a lot of money is moving, impacting people's financial situations.
  2. In China, many white-collar workers are facing salary cuts, which can be tough for them and the economy. This situation can lead to broader economic effects.
  3. North Virginia has become a key hub for data centers, showing how technology and data management are growing in importance. This shift highlights the changing job market and investment opportunities.

Top Links 614 Fining crypto. Peak Starbucks in China. Labour on screen. Looking glass war.

386 implied HN points • 10 Jan 25
🔮 Crypto Regulation Investment Technology Market Trends Finance
  1. There are discussions about fining crypto activities and the potential impact of regulations on the market.
  2. The idea of peak Starbucks in China suggests changing consumer behaviors and economic conditions affecting global brands.
  3. The mention of 'labour on screen' hints at the evolving relationship between work and digital platforms in today's society.

Top Links 597 Costless disinflation. The world's undersea cable system. South Sudan's calvary & Jarmush takes us on a permanent vacation.

715 implied HN points • 24 Dec 24
💰 Finance Economics Market Trends Investment Global Trade Policy Analysis
  1. Costless disinflation is interesting because it suggests ways to reduce inflation without any financial costs. This idea could really impact how economies manage price stability.
  2. Undersea cables are crucial for global internet connections, showing just how interconnected we all are. These cables help transmit information across the world quickly.
  3. South Sudan's cavalry highlights unique aspects of its culture and history. It also points to how different lifestyles and traditions exist around the globe.

Top Links 618 America's mounting insurance crisis. US record homelessness. Beijing's Himalayan mega dam & who killed Jazz?

300 implied HN points • 14 Jan 25
🇺🇸 U.S. Politics Insurance Homelessness Disaster Public Policy Risk management
  1. America is facing a serious insurance crisis, especially in areas that are prone to disasters.
  2. More people are experiencing homelessness in the US than ever before.
  3. China is constructing a massive dam in the Himalayas, raising concerns and questions about its impact.

Top links 609 Deindustrialization as historic trend. Why CHIPS investments go to places with the right workforce. Falling birth rates and the Trieste model of mental health.

443 implied HN points • 05 Jan 25
🇺🇸 U.S. Politics Economic Policy Labor Issues Demographics Public Health Mental health
  1. Deindustrialization is a major trend in history, affecting many regions and economies. This means industries are moving or shutting down, which changes job markets and communities.
  2. The success of CHIPS investments relies on having the right kind of workforce in specific areas. This highlights the importance of education and skill development for economic growth.
  3. Falling birth rates are a growing concern, and the Trieste model is an interesting approach to mental health. It shows that innovative practices can impact social issues positively.

Top Links 613 The surge in big tech capex. The shipbuilding boom. Litigating butter chicken. Are we entering post-literate society?

371 implied HN points • 09 Jan 25
💼 Business Economics Tech Investment Industry Trends
  1. Big tech companies are investing a lot in their capital, which is changing the economy in significant ways. It's interesting to see how this trend has developed over the last 15 years.
  2. There is a noticeable rise in shipbuilding, suggesting that the industry is picking up. This could mean more jobs and trade opportunities in the future.
  3. The concept of a post-literate society is being discussed, raising questions about how we communicate and share information today. It makes you think about the impact of technology on reading and writing.

Top Links 616 Global corporate debt surge. Chicago's fiscal blues. Depoliticizing the railways of the Raj.

300 implied HN points • 12 Jan 25
💰 Finance Market Trends Economic Policy Global Finance Investment Strategies
  1. Global corporate debt is rising sharply, which might affect the economy. This shows companies are borrowing a lot more money than before.
  2. Chicago is facing serious financial problems. The city's budget issues could impact its services and operations.
  3. There is a movement to make the railways in India less political. This could help improve efficiency and service for train travelers.

Chartbook 340 Against synecdoche! … A plural taxonomy of capitalist globalization

686 implied HN points • 19 Dec 24
💼 Business Capitalism Globalization Economics Politics Finance
  1. Global capitalism is complex and can't just be understood as one single economy. Different sectors, like finance and agriculture, have their own unique ways of operating.
  2. It's important to recognize the different sectors of capitalism to fully understand how they interact. For example, globalization affects industries like manufacturing and real estate in distinct ways.
  3. By acknowledging that capitalism is made up of many different parts, we can avoid oversimplifying it and appreciate the specific factors at play in each aspect.

Top Links 602 Vibe cession born out. America's Hindenburg moment. The CIA's shadow banking & why guns are different.

500 implied HN points • 29 Dec 24
🇺🇸 U.S. Politics Government Economy Defense Intelligence Crime
  1. The term 'vibe cession' suggests a cool down in economic enthusiasm. This means people may be feeling less optimistic about the economy.
  2. America's 'Hindenburg moment' refers to a serious crisis or failure. It's a warning sign that something big could go wrong.
  3. The CIA's involvement in shadow banking shows the different ways money can be used, especially when it comes to guns and security. This has implications for how we view finance and power.

Top Links 601 US grocery mayhem, the weight-loss boom, the history of meat extract and anti-humanism.

500 implied HN points • 28 Dec 24
🍲 Food & Drink Nutrition Food history Consumer behavior
  1. US grocery shopping is facing major challenges and changes. Many people are feeling uncertain about what to buy and where to shop.
  2. There is a growing interest in weight loss and related products. This trend reflects a wider cultural focus on health and body image.
  3. The history of meat extract and themes of anti-humanism are becoming more relevant. These ideas encourage us to think about our relationships with food and society.

Top Links 605 The story of FRED. Africa's looming debts. The world of copper & art in airports.

429 implied HN points • 01 Jan 25
💰 Finance Economics Debt Investments Market Trends Art market
  1. FRED is an important economic tool that helps track data over time, starting in the 1960s with economist Homer Jones. It shows how data can help understand the economy better.
  2. Africa is facing significant debt challenges, and awareness of these issues is crucial for global economic stability. It highlights the financial struggles many countries are experiencing.
  3. The connection between copper and art in airports showcases how different economic sectors can intersect. It's interesting to see how materials and art affect spaces we use every day.

Top Links 617 Student debt is baaaack. Modern defense. Bulldozer politics & Naples '44 revisited.

257 implied HN points • 13 Jan 25
🇺🇸 U.S. Politics Policy Economy Education Social Issues Political Analysis
  1. Student debt is becoming a big issue again, affecting many people's finances and future plans. It's important to stay informed about the changes related to it.
  2. There are ongoing discussions about modern defense strategies, highlighting the need for updated approaches in today's world. We should think critically about how these strategies impact our safety.
  3. The political climate is changing, with discussions about 'bulldozer politics' suggesting a more forceful approach to governance. It's worth considering how these tactics might shape our democracy.

Chartbook 334 Triumph and tragedy: trends in maternal mortality worldwide.

1130 implied HN points • 23 Nov 24
🏥 Health Politics Maternal health Global Health Women's Health Public Health
  1. Global maternal mortality in childbirth has decreased from 446,000 in 2000 to 287,000 in 2020, showing some progress over time. However, it's a mix of good news and bad news.
  2. While areas like Central and South Asia have seen significant drops in maternal deaths, Sub-Saharan Africa still faces high rates, with Nigeria alone accounting for a large percentage of global maternal mortality.
  3. Some countries in Sub-Saharan Africa, like Rwanda and Ethiopia, have shown that progress in maternal health is possible, even under difficult conditions, by reducing maternal deaths significantly.

Top Links 606 Trump wants the canal back. The cost of crime in LatAm. Economists at war & debating La Notta.

386 implied HN points • 02 Jan 25
🇺🇸 U.S. Politics Political News International relations Economics Crime Governance
  1. Trump is expressing a desire to regain control of the Panama Canal. This idea could stir up discussions about historical land control in the Americas.
  2. Crime costs in Latin America are significant and have a big impact on society and the economy. Understanding these costs is crucial for finding ways to improve safety and living conditions.
  3. There seems to be ongoing debates among economists about certain financial issues. These discussions can help us see different perspectives on economic policies and their effects.

Top Links 600 Fiscal battles in the Trump camp. Could Hong Kong form the hub of an offshore dollar system? Writing the 18th.

457 implied HN points • 27 Dec 24
🇺🇸 U.S. Politics Political strategy Fiscal policy Economics Debt Management
  1. There are ongoing debates about the future of tax and debt policies within the Trump campaign. Some people think there's no need to worry about the US debt due to the dollar's strong position.
  2. There's talk about Hong Kong possibly becoming a center for offshore dollar transactions. This could change how the dollar is used globally.
  3. The discussions reflect larger economic trends and concerns that could impact both the US and global financial systems.

Chartbook 339 Uneven and combined development of what? How do we relate global dollars and global cocoa?

600 implied HN points • 18 Dec 24
💼 Business Economics Capitalism Globalization Commodities Political Economy
  1. Global dollars and cocoa are connected within the system of capitalism, but they operate under very different political economies. Money is managed through global financial institutions, while cocoa production involves many poor farmers and large corporations.
  2. The relationship between cocoa and global dollars can be explored through the idea of 'sectors' in the economy, like the agro-industrial sector for cocoa and the financial sector for dollars. Each sector functions under its own rules and crises.
  3. Understanding how these sectors combine and differ helps to illustrate the complex dynamics of global capitalism. It’s important to consider how different sectors impact each other and society as a whole.

Chartbook 338 You don’t exit the force field, you alter your position within it.

700 implied HN points • 11 Dec 24
🇺🇸 U.S. Politics Economic Policy Nationalism Global Trade Political Response Market Reaction
  1. You can't just leave a difficult situation; you have to find a better way to deal with it. This means finding a new position or approach within the existing challenges.
  2. Different countries react differently to major events, like Brexit or Trump's policies, reflecting their unique economic power roles. For instance, when news breaks, some currencies soar while others crash based on local reactions.
  3. The way countries negotiate and manage their economic rules greatly impacts reform efforts. A left-leaning government in the U.S. or elsewhere would face specific challenges shaped by these dynamics.

Top Links 607 Uncertainty in energy markets. Nike dashing for cash & the strange absence of the state.

343 implied HN points • 03 Jan 25
💼 Business Finance Markets Economics Corporate Industry
  1. Energy markets are facing a lot of uncertainty right now, making it hard to predict what will happen next. This can affect prices and availability for consumers.
  2. Nike is trying to gather cash quickly, signaling possible financial issues or a need for investment. This could impact their future decisions and strategies.
  3. The government seems to be less involved in addressing current economic challenges, leaving some questions about their role and support during these times.

Top Links 599 Growing and shrinking counties. Low electricity prices matter. Starmer's epistemic issue. Why America's federal firearms bureau runs on paper.

429 implied HN points • 26 Dec 24
🇺🇸 U.S. Politics Policy Issues Government Agencies Political Analysis Public Opinion
  1. Some counties are growing while others are shrinking. This can impact local economies and the job market.
  2. Low electricity prices can be very important for businesses and residents. They can make a big difference in a region's overall financial health.
  3. There's an issue with how the federal firearms bureau in America operates, as it relies on paper rather than modern systems. This could affect efficiency and transparency.

Top Links 610 China's procyclical fiscal. Whole Foods v. Trader Joe's. Pakistan's surprise rally & chess dominance.

286 implied HN points • 06 Jan 25
💰 Finance Economics Investing Market Trends Fiscal policy Consumer behavior
  1. China's fiscal policy has become procyclical, which means it is tightening when the economy needs support. This could actively hinder economic recovery in challenging times.
  2. Whole Foods and Trader Joe's represent contrasting business models, with Whole Foods focusing on premium offerings and Trader Joe's emphasizing value and unique products. This highlights different consumer preferences in grocery shopping.
  3. Pakistan experienced an unexpected rally, demonstrating resilience in its economy, alongside notable achievements in chess. This showcases the potential for growth and excellence in different fields, even in difficult circumstances.

Top Links 604 China's booming exports. A new gas pipeline and America's murder epidemic of 2020.

343 implied HN points • 31 Dec 24
🇺🇸 U.S. Politics Crime Trade Economy Public Policy Violence
  1. China's exports are growing a lot because prices for things like solar panels are going down. More products are being sold even if they are cheaper.
  2. A new gas pipeline is being developed, which could affect energy supplies and markets. This could change how countries trade and use gas.
  3. The murder rate in America rose dramatically in 2020, which raised concerns about safety and crime rates in the country. This trend has led to discussions about social issues and law enforcement.

Top Links 611 Trump's threat to affordable cars. Why trust small business? The world's most important boy scouts & revisiting the Maginot line.

243 implied HN points • 07 Jan 25
🇺🇸 U.S. Politics Policy Economics Trade Tariffs Business
  1. Trump's tariffs will make affordable cars harder to find in the US. This is because the cost of making these cars will go up.
  2. Trusting small businesses is important for our economy. They often provide better service and creativity compared to larger corporations.
  3. Revisiting historical events, like the Maginot Line, can teach us valuable lessons. It's a reminder of how preparation and strategy matter in facing challenges.