@economics-that-works
@blair_fix
@SmithWillSuffice
23 min
So many people may know, I agree with heterodox economics, but have developed a little daylight between their modeling and what I consider to be reality.
Gary, here is traditionally trained, but his working class background makes him acutely aware of wealth inequality and the consequences of it. He’s been remarkably accurate in his predictions.
…
https://www.youtube.com/watch?v=CivlU8hJVwc
https://www.wacoca.com/news/2486582/ 焦点：ドイツ財政政策大転換、ＥＣＢの利下げ見通し不透明に | ロイター #AMERS #ANLINS #BISV #BISV08 #bnk #BNKS #BOJJ #BSVC #CEEU #CEN #DBT #de #DEST:NOJPBSM #DEST:NOJPTPM #DEST:NOJPZTM #ECB #ECI #eco #ECON #EMEA #EU #EUROP #EZ #EZC #FES #Fin #FINS #FINS08 #FRX #Gen #Germany #GRAPHC #GVD #INFL #int #INTAG #JFOR #JLN #JOB #MCE #MMT #MTGFX #MTPIX #NAMER #NEWS1 #PLCY #POL #POTUS #TRN #US #wash #WEU #ドイツ
And worse, the funds they cut off is is the government issues and pays into the economy to make it run.
This is the great lie of mainstream economics. That currency sovereign like the United States or the UK finances its national government through taxes. This is bullshit. Taxes remove money from the economy and national government spending adds money to the economy.
The only question is where does that money end up?
We all know what the answer is.
20 min
Looks like money and macro has embraced MMT.. then again, maybe not my hopes are dashed
#MMT and Cory, that’s glory. Ok, cheap me, but that’s a highly recommended #podcast episode, from start to finish.
They
"talk about capitalism, culture and… [checks notes] marshmallows!"
https://pileusmmt.libsyn.com/195-capitalists-hate-capitalism-with-cory-doctorow
@therightarticle
''The two measures will raise about £500 million by 2030. "
No they won't. That's money that simply won't ever become part of the economy. It won't be spent into local economies. It won't help pay wages or increase trade locally. It won't be taxed because it won't have ever existed.
It will not be raised. 'Savings' simply means, here, money never created.
#MMT #welfare
https://www.thecanary.co/uk/news/2025/03/25/dwp-cuts-latest/
@DGI CRUCIAL economic insight! Hadn't realized Graeber knew it, although of course I should have!
Thanks for posting this!
Sick to death of the budget surplus deficit rhetoric being peddled at us by the opposition and mainstream media.
A budget surplus should NOT be the goal of any national government.
The goal and role of national government is to provide for the citizens of the Commonwealth of Australia and work towards meeting their needs and democratic demands.
The sooner the voting public realise this the better for them, Australia and democracy.
#ABCNewsAustralia Spreading the myth that Australia’s national budget is like a household’s budget.
The Australian government prints its own (fiat) currency. It can’t run out of money, like a household.
#mmt is not a panacea but evaluating our fiscal problems without those tools in our box is akin to repairing a car with pliers instead of socket wrenches.
