THAT'S NOT MMT In today's @Markets newsletter, I wrote a very simple guide to what is and isn't MMT, since lots of people are very confused on the subject and abusing the term. Share with anyone who is confused! bloomberg.com/account/newsle…

Scratches head..and wonders why? Labour's growth plan is turning to dust by its own hand. This is the politics of austerity. Take money out of the economy to create more financial hardship and less disposable income, which, in turn, drives lack of business confidence. .../

ALL FEDERAL SPENDING EMITS TAX CREDITS (i.e. US$) THAT FUND TAXPAYERS.

The U.K. spent £116 billion on debt interest payments last year. 10% of total govt spending (30 year average is 5%). Then look at housebuilding, demographic pyramid, fertility rates, % of local govt spending going to social care….v bad. None of which is explained by media /1

When MMT is staring you in the face.

My proposed legislation on banning Quantitative Easing without the express consent of MPs has progressed to the next stage of Parliament. There is a magic Government money tree, it's called QE and it makes all of us poorer. We must slash it down. It is a debate we need to have.

Man who totally misunderstands the operation of Q/E puts forward primary school analysis of a fiat economy. Comes to the conclusion: Weimar and printing money. God help us.

A national economy does not work like a household credit card. In fact: the more the government is in "debt", that's the more money we have potentially flowing around our economy & improving our living standards. A self imposed rule to "balance the books" is dangerous nonsense.

Wes Streeting: “The only way in which we will be able to make progress is if we are able to get growth back into our economy” — another evergreen contender for the 2025 Fauxbel Prize. He’s playing all the hits! x.com/mmtpodcast/sta…

Alan Smith Debt interest is a direct consequence of interest rate targetting monetary policy, a belief that handing £100B per year to the wealthiest in society and artificially keeping unemployment up, keeps prices down. Change that policy and we remove interest payments.

Paul Mason Corbyn and Sultana would pose no threat to a genuine Labour government. A genuine Labour government would have nothing to fear from Farage. Starmer’s government is not a genuine Labour government and you have been sold a pup.

Mainstream economics is designed to protect concentrated economic power and make it easier to exploit the masses, that’s the whole game. That’s why the truth about how a currency-issuing government actually operates is tucked away in obscure corners of public economics or money

It's so funny how that Reeves will consider intervention in the 'national economy's interest' when it comes to protecting private capital (Car finance scandal) but won't consider intervention say in the BoE interest rate decision.

Richard Murphy Exactly true economic security isn’t about appeasing markets, it’s about empowering people. The bond market follows strength, not fear.

13/ Question for anyone who disagrees: How did the first taxpayer get pounds to pay taxes if government hadn't spent them into existence yet? I'll wait.

New article published with Neil Wilson, josh ryan-collins, Tally Sticks, and Asker Voldsgaard The Self-Financing State: An Institutional Analysis of Government Expenditure, Revenue Collection and Debt Issuance Operations in the United Kingdom tandfonline.com/doi/full/10.10…

How is it technically possible for the UK public finances to be tight and at the same time pay money without limitation to people with wealth? Because it comes from the same place.

Centrism's biggest fans have only just started to knock labour when a fault-line appears not in their political choices but in their CVs.

As long as we continue to believe that self financing states need their money to pay for public services, we will continue to bend the knee to wealth and the financial markets. Peter Jukes - it really is time to challenge the twisted ‘tax-payer’ logic of neoliberalism.

Beautifully put. It shows the madness at the heart of the UK's economic plan. We do not need money from the US. This merely transfers ownership of assets to the US. The absolute worst approach for an economy that should instead be focusing on creating a resilient economy.