Gdp is the only thing that matters 🤪

This should be interesting...this 'expert' studied at LSE, same place as Reeves and Hearne.

It seems that the LSE breeds patronising twats like Hearn.

It's all just promises; contractual obligations.

The ultimate irony, is the account name 'SetTheUKFree'. Yet they advocate continued slow strangulation of the economy, by maintaining the neoliberal TINA status quo and refusing to open their minds to alternate ways of thinking. Hey-ho 🤷‍♂️

Dear students of economics, if you do not understand the tweet below it means that you have not studied money properly. It's not your fault - it is the intellectual closure in higher learning that has failed society. Keep calm & #LearnMMT

In the west, we'd rather give profits to CEOs and shareholders (even when those 'profits' come from leveraging up assets).

Mainstream econ models always result in something happening 'unexpectedly', because they are from a fundamentally wrong base line.

I had an interesting exchange with Copilot about barter in Native American 'society'. After initially towing the mainstream narrative, I reasoned with it and it completely u-turned, agreeing that barter wasn't a thing within tribes, a more informal system of credit existed. 🫤

Yep. Word!

Behind a pay wall, but this is bollocks. Total Gov liabilities will not change. Millions of pounds will be wiped off the UK’s debt stockpile after a two-centuries-old government body invested a gift from private donors into a gilt maturing this year bloomberg.com/news/articles/…

The lie continues.

Classic example of an indoctrinated neoliberal zealot.

So help me out here. Everyone who replies negatively to MMT concepts uses the term 'printing money'. Do they all use that phrase to mean the same thing? Is it just the existence of a gov't deficit that they are referring to?

The trick is to make tax obvious, transparent and less easy to avoid. Our system is far too complex and easy to avoid.

I have not heard this explanation before.

From J.K. Galbraith 1996 (conventional approach pertinent to MMT aims):Where public expenditure is essential to increased production, employment & income … borrowing is fully acceptable …& cannot be considered loading costs on future generations, for they will be beneficiaries

One of the many macro-economic problems we continually face arises because people don't realise that currency, reserves and gov't bonds are *all* liabilities of the government. i.e. They are *all* gov't debt.

Yet is has 250% debt to gdp and is claimed to be an economic basket case on the brink of collapse for nearly 3 decades 🤷 Do we think mainstream econ might be a busted flush yet?

I though Werner got it. But it seems he doesn't. 🤷