Mortgage pressure, the domestication of the American garage, the global cereal market & Siberian power
Great links, reading and images from Chartbook Newsletter by Adam Tooze
Walter Richard Sickert. Edward VIII,1936.
Sickert’s late painting based on photographs which seem like an anticipation of postwar pop art were one of the revelations of the recent show at Tate Britain.
An average American family who recently bought a typical family home is facing very steep mortgage costs.
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Things tend to break in Fed tightening-cycles
For subscribers only
European investors are quite worried about the US financial system!
For subscribers only
Queen Victoria and her great-grandson, Walter Sickert c.1936
Of the members of IG Metall, Germany’s most powerful industrial union, who are currently employed and working, almost a quarter have “migration-backgrounds”
For subscribers only
Power of Siberia: The gas connection that Russia would like to build but China is havering over.
Source: FT and for more on the story see Reuters
Miss Earhart’s arrival, Walter Sickert 1932
How Germany industry adjusted to the energy crisis - energy-intensive industrial production was run down but overall production remained relatively robust.
For subscribers only
J.B. Jackson, The Domestication of the Garage (1976)
Two decades later, after World War II, the whole garage scene had undergone a radical change. Not only was the garage in the average detached dwelling thoroughly integrated into the street facade of the house — to the point where its wide doors served to balance the picture window so popular in the fifties — it was internally integrated. A conveniently placed door led either into the kitchen or into what is known among home builders as the mud room — a kind of decompression chamber for members of the family returning from work or school. Furthermore, the garage itself had greatly expanded, becoming spacious enough to accommodate not only two cars, but a deep freeze, a washer and dryer, and even a hotwater unit and a hobby work bench — to say nothing of broken lawn furniture, skis, and tangles of garden hose. In short, it had become thoroughly domesticated, an integral part of home life and the routine of work and play.
Source: Places Journal
The cats-cradle of the global cereal market (2015)
Source: Falsetti et al 2022
Walter Sickert, Variations on Peggy 1935