<![CDATA[Chartbook: Chartbook Top Links]]>https://adamtooze.substack.com/s/chartbook-top-linkshttps://substackcdn.com/image/fetch/$s_!ftcd!,w_256,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fa8e73950-03bb-4589-afaf-d9cdd55ab61b_500x500.pngChartbook: Chartbook Top Linkshttps://adamtooze.substack.com/s/chartbook-top-linksSubstackFri, 01 May 2026 19:41:55 GMT<![CDATA[Top Links 1089 Is America's long consumer boom faltering? Making up for Hormuz. Fascist Disneyland & an alt-history of the Cold War. ]]>https://adamtooze.substack.com/p/top-links-1089-is-americas-long-consumerhttps://adamtooze.substack.com/p/top-links-1089-is-americas-long-consumerFri, 01 May 2026 10:45:26 GMTThank you for your support of Chartbook. Your generosity keeps this show on the road.

Dan Mask, mid 20th Century

Superb example of a traditional mask called “fire”, also called “firefighter masks”. It comes from Côte d’Ivoire, more precisely from the Dan country. These tribal art masks are distinguished by their red fabric covering, a color symbolically a…

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]]><![CDATA[Top Links 1088 "Currencies aren't just vibes". Big tech cutbacks. UAE pressures Pakistan. Not enough Dante. ]]>https://adamtooze.substack.com/p/top-links-1088-currencies-arent-justhttps://adamtooze.substack.com/p/top-links-1088-currencies-arent-justThu, 30 Apr 2026 10:51:00 GMTThank you for your support of Chartbook. Your generosity keeps this show on the road.

Iba N’Diaye, French/Senegalese (1928–2008), La tabaski (Le sacrifice du mouton), 1970

Big tech layoffs surge

Layoffs affecting 45,800 tech employees were announced last month, making March the worst month for reported tech-job reductions in at least two years, according …

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]]><![CDATA[Top Links 1087 Why 2026 is not 2022. That intel stake that keeps on growing. Thai petrol smuggling & Sartre's bizarre lifestyle. ]]>https://adamtooze.substack.com/p/top-links-1087-why-2026-is-not-2022https://adamtooze.substack.com/p/top-links-1087-why-2026-is-not-2022Wed, 29 Apr 2026 10:40:51 GMTThank you for your support of Chartbook. Your generosity keeps this show on the road.

NIKLAUS HASENBÖHLER (1937-1994) Nancy. 1987.

Why the 2026 price shock is not the same as that of 2022 - excellent this from Davide Oneglia

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]]><![CDATA[Top Links 1086 The war and the markets. Iran's defense spending. The battle of Vercors & the first athlete. ]]>https://adamtooze.substack.com/p/top-links-1086-the-war-and-the-marketshttps://adamtooze.substack.com/p/top-links-1086-the-war-and-the-marketsTue, 28 Apr 2026 10:45:57 GMTThank you for your support of Chartbook. Your generosity keeps this show on the road.

Heinrich Altherr, Still life, tragedy, 1941

The war has been good for the US markets

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]]><![CDATA[Top Links 1085 Data-center blowback. Nazis in Liechtenstein. Underground war and bringing the dead back to life. ]]>https://adamtooze.substack.com/p/top-links-1085-data-center-blowbackhttps://adamtooze.substack.com/p/top-links-1085-data-center-blowbackMon, 27 Apr 2026 10:50:54 GMTThank you for your support of Chartbook. Your generosity keeps this show on the road.

Maria Lassnig, Augenglaeser – Autoportraets (1965)

Across both parties the mood in the US is turning against data center construction

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]]><![CDATA[Top Links 1084 The new normal in America's political economy. Syrian property deals & the Trumps. Burial at sea and the history that made Lee Kuan Yew. ]]>https://adamtooze.substack.com/p/top-links-1084-the-new-normal-inhttps://adamtooze.substack.com/p/top-links-1084-the-new-normal-inSun, 26 Apr 2026 10:01:27 GMTThank you for your support of Chartbook. Your generosity keeps this show on the road.

Gerda Rotermund: Bundesallee Berlin, 1950

The “new normal” for US inflation is no longer below 2 percent - EXCELLENT series of graphs from Mike Nolan at Reuters.

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]]><![CDATA[Top Links 1083 China investing in batteries, India in dockyards. Big cuts in big tech & "Talking with Sartre".]]>https://adamtooze.substack.com/p/top-links-1083-china-investing-inhttps://adamtooze.substack.com/p/top-links-1083-china-investing-inSat, 25 Apr 2026 10:45:50 GMTThank you for your support of Chartbook. Your generosity keeps this show on the road.

Hedda Sterne, New York, NY, No X, 1948

China’s FDI has come roaring back

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]]><![CDATA[Top Links 1082 China's oil reserves. Global hunger. America's megadrought & Adorno v. Gehlen. ]]>https://adamtooze.substack.com/p/top-links-1082-chinas-oil-reserveshttps://adamtooze.substack.com/p/top-links-1082-chinas-oil-reservesFri, 24 Apr 2026 10:40:21 GMTThank you for your support of Chartbook. Your generosity keeps this show on the road.

Carol Rhodes, River and Buildings, 1996.

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]]><![CDATA[Top Links 1081 Time for a cartel of oil-importers? The US as roving bandit. Modern illiteracy. Far-right France. ]]>https://adamtooze.substack.com/p/top-links-1081-time-for-a-cartelhttps://adamtooze.substack.com/p/top-links-1081-time-for-a-cartelThu, 23 Apr 2026 10:55:23 GMTThank you for your support of Chartbook. Your generosity keeps this show on the road.

Self-Portrait Henry Raeburn 1820

Why not form an oil-importing cartel?

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]]><![CDATA[Top Links 1080 The largest companies in the world. Indian divergence. RIP Robert Skidelsky & Black Boys on Mopeds. ]]>https://adamtooze.substack.com/p/top-links-1080-the-largest-companieshttps://adamtooze.substack.com/p/top-links-1080-the-largest-companiesWed, 22 Apr 2026 10:45:51 GMTThank you for your support of Chartbook. Your generosity keeps this show on the road.

Bela Uitz, Induction, 1916

The ten largest companies in the world over the last 110 years

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]]><![CDATA[Top Link 1079 The tanker convoy to the Gulf coast. Explaining the market disconnect. Eastern Libya's money man & the scandal rocking China's chess establishment.]]>https://adamtooze.substack.com/p/top-link-1079-the-tanker-convoy-tohttps://adamtooze.substack.com/p/top-link-1079-the-tanker-convoy-toTue, 21 Apr 2026 10:40:42 GMTThank you for your support of Chartbook. Your generosity keeps this show on the road.

Norah Neilson Gray Mother and Child 1920s

Empty tankers mainly from Asia form long lines from Cape of Good Hope to US Gulf Coast

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]]><![CDATA[Top Links 1078 The stealth manufacturing boom in the US. How will the world pay for the US AI boom? The Xi Jinping school of journalism & the sorrows of Burkean liberals.]]>https://adamtooze.substack.com/p/top-links-1078-the-stealth-manufacturinghttps://adamtooze.substack.com/p/top-links-1078-the-stealth-manufacturingMon, 20 Apr 2026 10:38:52 GMTThank you for your support of Chartbook. Your generosity keeps this show on the road.

Walking from Two Directions, by Lee Ka-sing.

America Is in the Middle of a Stealth Manufacturing Boom

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]]><![CDATA[Top Links 1077 The hyperscaling upper bound. Why the rupee matters to Modi. The air-pollution mega-killers & sunken treasure in the Bay of Algeciras. ]]>https://adamtooze.substack.com/p/top-links-1077-the-hyperscaling-upperhttps://adamtooze.substack.com/p/top-links-1077-the-hyperscaling-upperSun, 19 Apr 2026 10:45:49 GMTThank you for your support of Chartbook. Your generosity keeps this show on the road.

Yau Leung, Pulling in the Nets, 1960’s

Does the AI build out in the US have a 15 GW pa upper bound?

AI hyperscalers may have huge plans but there isnt much evidence that the US can actually build more than 15 GW per year.

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]]><![CDATA[Top Links 1076 "Looking through" Iran. Japan's car industry in trouble. Gum arabic and the Sudan conflict. India threatens Bangladeshi migrants with ... crocodiles. ]]>https://adamtooze.substack.com/p/top-links-1076-looking-through-iranhttps://adamtooze.substack.com/p/top-links-1076-looking-through-iranSat, 18 Apr 2026 10:40:36 GMTThank you for your support of Chartbook. Your generosity keeps this show on the road.

Edith Tudor-Hart Self portrait with unknown man, Caledonian Market c.1935

“Looking through”, “looking beyond”, one way or another the US equity market is not looking down

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]]><![CDATA[Top Links 1075 Global uncertainty. Why global growth in 2025 was so resilient. Guyana's boom & how the Chicago School confronted AIDS. ]]>https://adamtooze.substack.com/p/top-links-1075-global-uncertaintyhttps://adamtooze.substack.com/p/top-links-1075-global-uncertaintyFri, 17 Apr 2026 10:34:40 GMTThank you for your support of Chartbook. Your generosity keeps this show on the road.

Death of Amy Johnson Pat Douthwaite (1934–2002)

6x: We started a live recording of OnesandTooze this morning in DC with these uncertainty numbers.

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]]><![CDATA[Top Links 1074 The last prewar tankers reach their destinations. Our euro, your solution? Who are the Dems? Everday life as "scanty residue".]]>https://adamtooze.substack.com/p/title-1074-the-last-prewar-tankershttps://adamtooze.substack.com/p/title-1074-the-last-prewar-tankersThu, 16 Apr 2026 10:45:55 GMTThank you for your support of Chartbook. Your generosity keeps this show on the road.

“In industry, learn from Daqing - Huaihai coal country”, Lai Shaoqi (赖少其) Shi Songling (师松龄) Tao Tianyue (陶天月) Lin Zhiyao (林之耀) 1976, November

The last oil tankers to traverse the Strait of Hormuz before the outbreak of war will reach refineries in the coming days, in a …

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]]><![CDATA[Top Links 1073 Schumpeterian waves in the US economy. Deaths from malnutrition. How Ukraine survived & The path to the nest of spiders. ]]>https://adamtooze.substack.com/p/top-links-1073-schumpeterian-waveshttps://adamtooze.substack.com/p/top-links-1073-schumpeterian-wavesWed, 15 Apr 2026 10:40:17 GMTThank you for your support of Chartbook. Your generosity keeps this show on the road.

Transfer Fighting to the New Oilfield by Li Hua and Liang Dong is a celebratory portrait of industrialized China in 1975. (PROVIDED TO CHINA DAILY)

Because it combines technological waves with macroeconomic quantities, this is such an important graph (quibbles about quan…

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]]><![CDATA[Top Links 1072 Medium sour - the oil the US imports from the Gulf. Poland's armaments boom. The Wildfire Season in the US & the battle over marmalade. ]]>https://adamtooze.substack.com/p/top-links-1072-medium-sour-the-oilhttps://adamtooze.substack.com/p/top-links-1072-medium-sour-the-oilTue, 14 Apr 2026 22:24:52 GMTThank you for your support of Chartbook. Your generosity keeps this show on the road.

"In Memory of Lu Xun", produced by Huang Xinbo in 1936.

The oil that the USA imports from the Gulf is overwhelmingly medium sour, much of which ships to the West Coast which lacks pipeline access to domestic or Canadian oil.

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]]><![CDATA[Top Links 1071 The Australian diesel armada. The health-care labour market slump. The history of cherry tree blossoming & the "assumption of inertia".]]>https://adamtooze.substack.com/p/top-links-1071-the-australian-dieselhttps://adamtooze.substack.com/p/top-links-1071-the-australian-dieselMon, 13 Apr 2026 10:45:55 GMTThank you for your support of Chartbook. Your generosity keeps this show on the road.

Sha Fei, Resistance fighting in the Beiyue Region, near Mount Heng, Shanxi Province, Winter 1940

The diesel Armada for Australia

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]]><![CDATA[Top Links 1070 From coalstate to electrostate. The revenge of the old economy. Killing cities. “The stance upon the ruined abode”]]>https://adamtooze.substack.com/p/top-links-1070-from-coalstate-tohttps://adamtooze.substack.com/p/top-links-1070-from-coalstate-toSun, 12 Apr 2026 10:57:33 GMTThank you for your support of Chartbook. Your generosity keeps this show on the road.

Jean-Étienne Liotard Self-portrait (1746) in pastel, his favourite medium. The full beard he wore after visiting Turkey was an eccentricity in 18th century Europe.

This tweet about China and coal is clearly intended as a polemic, but it isn’t wrong.

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