50 ships laden with Australian coal worth $500m are stranded off Chinese ports with 1000 crew on board, as tensions between the trading partners increase. Barley, beef, wine hit too.

"Why, then, has the economic damage of such a comparatively mild pandemic been so huge?” @martinwolf_  asks Answer "because it could be.” We are rich "The response to the pandemic is a reflection of economic possibilities and social values today"

Vaccine news triggered the largest 2-week inflow into stock markets worldwide, ever recorded. And the biggest sell off of gold! @BankofAmerica  via @SoberLook 

Choice in dealing with COVID was "suppression, or trading off deaths against the economy.” Suppression did better in every respect. Those that sacrificed lives have tended to end up with high mortality AND economic costs. INET via @martinwolf_ 

"Even with highest debt/GDP ratio in decades, cost to UK gov of servicing that debt is lowest since WWII, and falling. So what need is there to make “tough choices” to put public finances on sound footing?” @MESandbu  Now is time to focus on recovery!

"Newly developed indicator highlights that corporate sector vulnerabilities have increased to levels last seen during sov debt crisis. Financing risks have not materialised thanks to support measures” @ecb  Financial Stability Review is very alarming! See:

Economic emergency: "Not since the second world war has a UK chancellor had to come to the House of Commons and announce such a large downgrade to the outlook for Britain’s economy and public finances.” @ChrisGiles_ 

Salus populi suprema lex esto (Latin: "The health (welfare, good, salvation, felicity) of the people should be the supreme law”, Cicero De Legibus H/t @martinwolf_ 

Likely impact of a no-deal Brexit, broken down by negative effect. 1.5 % of GDP In medium term of which half is due to negative productivity effects. OBR via @ChrisGiles_