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#mmt
Monday's blog post (16/06) is now posted (18:05 EAT) - The US dollar is losing importance in the global economy - but there is really nothing to see in that fact - https://billmitchell.org/blog/?p=62619 #MMT
Well, I've just broken a long streak of sensible behaviour by volunteering for something.
If you live in Melbourne and have been yearning to hear a weird old lady talk about fixing the housing crisis, buffer stock economic stabilisation programs, and Universal Public Services, stay tuned for more details in a couple of weeks.
(Also there will be some brighter, younger, more entertaining people talking about #MMT, ecological economics, and all sorts of good stuff.)
"The wealthy love the national debt in the UK.
There is nothing that suits their purpose better than having the UK government in debt to them, and that's why they love the national debt ... This supposed debt is simply the total amount of money that the government has spent into the UK economy that it has yet to reclaim by way of tax"
-Richard Murphy, https://www.taxresearch.org.uk/Blog/2025/06/10/the-wealthy-love-the-national-debt/
#MMT #inequality #UKpolitics
So when is it that we pay off the "national debt" again? Answers on a postcard please to HMS Treasury, UK.
All money is debt. Without a *public* debt, there's no money at all other than your own, personal, household or business debt owed to private banks.
This is the brutal truth that mainstream economics is designed to obscure. Public debt is YOUR money.
@kcarruthers @Andrea Oh, sorry @DrALJONES , I forgot our agreement to tag each other into #MMT posts!
See above.
@keefeglise I'm doing a masters in #MMT, and from this proximity, it's looking stronger than ever.
It's orthodox econ that's gasping and wheezing and shuffling about on a zimmer frame. Can't stop going on about how the everything was better back before 2008.
"But there _is_ a NAIRU, I tells ya'! Seen 'im wiv me own eyes. Bloody enormous 'e was, with this 'orrible great Phillips curve…"
Is #MMT still a thing? Surely, it's been put out of its misery by now.
"This is fantasy economics saying that we can just go on and on having higher debt, it's just not right… either our taxes are going to have to go up even more or… the state is going to have to do less"
Lord Bridges of Headley
43'40"
https://www.bbc.co.uk/sounds/play/m002d9bl
Rubbish.
Tax does not pay for government expenditure. Money is created by sovereign currency governments. National debt is the amount of money in the economy.
@Radical_EgoCom @hoofin @broVbro
Do you know about #mmt ?
Otherwise the money narrative all too easily justifies the austerity narratives.
"The report highlighted some of Europe’s weaknesses, including its openness to global trade, its reliance on advanced technology and essential materials and minerals from overseas, as well as its high energy costs."
#Securitisation is pooling financial assets (such as Small and Medium Enterprise loans or mortgages) into interest-bearing, tradable securities.
William Thomson: https://braveneweurope.com/william-thomson-more-securitisation-creates-less-financial-security
https://www.wacoca.com/news/2541327/ 利回り上昇、財政赤字懸念と外国投資家の警戒感が一因＝ウォラーＦＲＢ理事 | ロイター #AMERS #Business #BusinessNews #CEN #DBT #DEST:NOJPBSM #DEST:NOJPTPM #DEST:NOJPZTM #ECI #eco #ECON #FED #FINREG #Gen #GFIN #GOVACT #GVD #INFL #int #JFOR #JLN #MCE #MMT #NAMER #NEWS1 #PLCY #POL #REGS #RSBI:REGULATORYOVERSIGHT #TRACC #TRD #TRF #TRN #US #wash #ビジネス
@dlakelan
The article was written in 2011 but that takes nothing away from it, makes it no less informative.
Sadly, the HuffPost has become so trashy in its UI, UX, ads (somehow bypassing my iOS ad-blocker), etc.
Here’s a cleaner copy from Warren Mosler’s #MMT blog.
https://moslereconomics.com/2011/09/19/the-umkc-buckaroo-a-curreny-model-for-world-prosperity/
https://www.huffpost.com/entry/the-umkc-buckaroo-a-curre_b_970447
Holy shit. University of Missouri Kansas City #MMT economist actually created a currency for the university and has demonstrated since the 1990s exactly how currency really works.
The last line: "It's also has made it obvious that the world's leaders and their economists are necessarily subversive and/or ignorant. "
I'm so stoked to see this explainer of MMT in The Conversation.
Every Canadian should read this. https://theconversation.com/what-is-modern-monetary-theory-an-economist-explains-how-it-could-help-canada-256868?utm_medium=article_native_share&utm_source=theconversation.com
#CanPoli #MMT
Imagine if you will the following scenario. You beam down onto a planet as a observer from Starfleet and you find a ruler named Bonald Stump who has just invaded Northern Someplace with an army of millions. Of course an army of millions would require extensive food and sleeping quarters and etc. So Stump has hit on the following idea. He makes little PVC disks with a hard to counterfeit holographic 3D depiction of his scrotum. #anarchy #economics #mmt