And this guy's the Chairman!!!

Holy fuck.

If you want to see more mainstream economists 'explain' #MMT check out UK dates in July. Screening details coming soon! findingmoneyfilm.uk

Quick Robin Brooks update
1) Japan has a currency crisis because I said so
2) Yes Japanese exporters are winners - so what
3) Yes, few or no Japanese will really suffer from or even be aware of this - so what
4) Yes Japan has been running a deficit for 35 yrs - there is a lag

This was the most gobsmacking moment in the film “Finding the Money”. The Chair of the Council of Economic Advisors to the US President doesn’t understand how the money system works.

👇🏻Robin is furious that a leading global economy won’t play with the Forex traders. Japan will do nothing. The ¥ will go back up - or stabilise- or drop again - doesn’t matter - and next time he’ll be hooting the same crap. Mainstream economics passed away and no one told Robin.

The left need to write this simple Keynesian truth of EFFECTIVE DEMAND on the back of their hands. Everyday people regularly spend money, which stabilises and grows the economy. The rich hoard most of theirs and transfer it abroad. twitter.com/ProfSteveKeen/… Workers Party of Britain

The weird thing about MMTers and Austrians debating is that a lot of us MMTers would want to dramatically decrease many forms of regulation and also the real burden of the tax system.

Absolute hard truth: we don’t need their taxes or their bullshit jobs. The entire financial sector (beloved of Rachel Reeves ) has been a huge drain on our real resources and meaningful productivity forever. Think of the useful work they could be doing? As Viviane says: 👋🏻

Collectively enforced property rights are a socio-economic tool and not a moral imperative.

Jesus spare us. The whole parasitic enterprise could be sacked tomorrow, their ‘financial services’ taken over by the state and the country could eradicate poverty AND save £billions.

Is Economics Education Fit for the 21st Century?

More than 15 yrs after the 2007/8 GFC, Rethinking Economics England & Wales - the student movement that swept the UK (and many parts of the world) calling for a drastic overhaul of the econ curriculum - reports its findings.

rethinkeconomics.org/2024/05/01/is-…

The UK isn’t and never can. The sky isn’t falling. This is nonsense and entirely political.

1 million %

Malcolm Reavell Damien Austerity myth creates an all-pervailing sense of scarce-money 'bankrupt Britain' nonsense, dangling the threat of unemployment & poverty over the heads of workers - which very handily forces their compliance, & discourages demands for better pay & conditions
Win win for the rich

Damien Malcolm Reavell Because most on the Left refuse to get their heads around money-creation & finance, believing it to be the sole & sordid domain of the rich & the Right
This is a fatal error that allows their opponents to ride roughshod over them w/ Thatcherite lies about money scarcity

If you don't understand where money comes from and how the UK monetary system works, you should be nowhere near the treasury. Fiscal discipline my arse, off the scale incompetence. So absolutely sick of this crap.

Economic illiteracy

Pillock. 👇🏻. Luckily, more and more people look upon these debt fetishist small staters and chuckle. Does he really think we don’t see the sordid little game for what it is? Quickest way to eliminate debt? Stop issuing bonds and drop rates to zero.

“There is nothing to prevent the federal government from creating as much money as it wants.”

- Alan Greenspan
youtube.com/watch?v=DNCZHA…