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1. The UK State Pension. How much is in the "pot"? How much can the govt afford to pay? Should we contribute more to private pensions so the government can "borrow" those funds to fund a green transition? A wee thread...🧵👇

Malcolm Reavell @auchentrachle.bsky.social Jump to post 4. "There is no 'pot' of money". Great adjunct to Richard Murphy comments on Modern Monetary Theory #MMT and the role of a sovereign currency and taxation taxresearch.org.uk/blog and as a follow up try Stephanie Kelton "The Defecit Myth".

Malcolm Reavell @auchentrachle.bsky.social Correct, there is no "pension pot". So, the French retire at 62 at get 2x the UK pension. Luxembourg, Belgium and Spain get 3x. The amount is a political decision. Read about Modern Money Theory #MMT mmt.works Source tinyurl.com/33bz67zr

"Economists think about what people ought to do. Psychologists watch what they actually do." -Daniel Kahneman

Thatcher's vision, delivered by 50 years' worth of supplicants: No water Unaffordable housing Food poverty Sky high energy bills Low wages Starmer/Reeves are confused by the vehement backlash to their policies.... theguardian.com/business/2025/…

As a consultant psychologist, can I pre-empt tomorrow’s welfare bill amendments with facts: - Anxiety & depression can be as disabling as psychosis or bipolar. - Only ~1 in 2 applicants with these diagnoses get PIP. - Claims require robust medical evidence. #BinUCBill

"Billionaires won't create jobs if we tax them," is a myth made up by billionaires so we won't tax them.

The UK govt creates its own currency. Taxes on the wealthy can be used to reduce inequality and cool inflation, but they don't fund spending. The real threat to the poor isn't rich people leaving, it's governments pretending they’re broke.

I’m SICK of saying it, but I’ll say it again. Asylum seekers can’t claim benefits. You need an NI number to do that. Asylum seekers aren’t staying in 5* hotels. Asylum seekers get £49.18p a week to live on. Could YOU live on that? NOPE. So stop pretending they’re living it large.

Nick Tyrone Neoliberalism thinks “value = price”.

Aaron Bastani So £75 pm extra tax from everyone earning over £8000 pa? Massively regressive and would cause a big increase in poverty as well as a permanent recession. Sorry to put it like this, but it is neoliberal bollocks. The economy is barely growing so the deficit is too low already.

“Author of several books” but reader of none. It’s quite clear you weren’t aware of the Labour Theory of Value before today, yet you still felt people should hear your opinion on socialism. Dunning-Kruger effect personified.

Iwan Doherty Graeme Pearce My parents aren't and it certainly isn't by their design Its your shit politicians and shit economists who have done this to you, not pensioners They simply were cracking on with life the way you would have.

Bloombugs, having pushed the govt into decades of cuts to local govt and the civil service, blame the public sector for performing badly. They’d keep cutting spending until all the money in the economy dried up and everyone was unemployed. Bloombugs really are a bit thick. MMT

Labour councillor wins a democratic vote. But he wasn’t meant to win… So there’s another vote, this time online and, lo and behold, the favoured candidate of the local MP wins. Labour are a bent, corrupt organisation in so many places…. southwarknews.co.uk/area/southwark…

Peter Hague Peter. You do not understand the monetary system. You live in a fiat money world. To create fiat money, you must create fiat debt. It is a 1:1 correspondence. The first problem is thinking taxes fund spending. They do not. The second problem is thinking government deficits and

Iwan Doherty Graeme Pearce No, it really doesn’t work like that. It is paid out if operational expenditure. And as the UK issues its own fiat currency the state pension is 100% affordable at whatever rate govt decide. HMgov will never run out of £ or go bust.

A scientist who doesn’t understand how our MMT economy works. Unusual. They’re normally a lot more savvy. You won’t colonise the universe without big government spending Peter. Let’s use it to sort out this planet first perhaps?

The 'Millionaire Exodus' the UK Media Told You About Never Actually Happened bylinetimes.com/2025/06/10/the…

This is great, data led reporting from the Byline Times. If only they had the stomach to investigate other routine economic lies that shape public policy. ‘Fiscal black holes’, household analogies, the faux causes of inflation, the great interest rate scandal, ‘debt’ crises…