The government can provide the investment in services and infrastructure needed to stimulate the economy. It can also tell the BoE to cut interest rates to reduce the pressure on renters and motgage payer.
#MMT
@dave161256.bsky.social
@dave161256.bsky.socialThe government can provide the investment in services and infrastructure needed to stimulate the economy. It can also tell the BoE to cut interest rates to reduce the pressure on renters and motgage payer.
#MMT
@dave161256.bsky.socialThe government doesn't need to tax in order to spend. I thought you knew this!
#MMT
@mmt-action.bsky.socialThe Green Party's spending plans are always framed as "Where will you find the money?"; but the real question is who gets to create it. The UK government is the pound issuer. It cannot run out of GBP. The only limits are real resources and inflation.
@mmt-action.bsky.socialJapan keeps getting wheeled out as the debt horror story. This week's MMT Digest asks what inaction costs, with construction jobs as the evidence.
The MMT Digest is out now. Listen on Spotify, or get the Sunday email.
@blockedbritain.bsky.socialZenaida trained to teach mathematics. Croydon's classrooms need her. Schools report critical shortages. The training bursaries exist. The equipment sits unopened. The only thing missing is Westminster's choice to connect them. This is what political choice looks like.
@mmt-action.bsky.social'We can't afford it.' Spend five minutes asking the real questions. What actually constrains public spending? Where does money come from? Can a currency issuer run out? Try the Ask MMT tool and answer them yourself.
@mmt-action.bsky.socialDebt relief treats the symptom. The disease is borrowing in a currency you can't issue.
Rich countries that issue their own currency ride out bond tantrums. Poor ones borrow dollars and pay for the panic.
The fix is not charity.
@etpro.bsky.socialThanks for the follow; I gladly returned it and gave this post a like and repost. I'd greatly appreciate a reciprocal repost. #Amwriting #FBR #Science #SecularSkeptic #MMT
@etpro.bsky.socialThanks for the follow; I gladly returned it and gave this post a like and repost. I'd greatly appreciate a reciprocal repost. #Amwriting #FBR #Science #SecularSkeptic #MMT
@etpro.bsky.socialThanks for the follow; I gladly returned it and gave this post a like and repost. I'd greatly appreciate a reciprocal repost. #Amwriting #FBR #Science #SecularSkeptic #MMT
@blockedbritain.bsky.socialKeiran graduated with a physics degree wanting to teach. Fifteen empty spaces on a PGCE. Schools canceling classes for lack of teachers. Closed training buildings gathering dust. The resources exist. The students need teaching.
@autoflow.bsky.socialFiscal rules are just "hard-coded" legacy constraints. We need to shift from accounting-first to resource-first models—optimizing for output capacity instead of arbitrary spreadsheet gaps. #MMT
@dave161256.bsky.socialBurnham can't do what he has talked about because he is as neoliberal as all the PMs since 1980. Things will not improve until we get a PM that understands #MMT so that he/she will be able to use the full power of government to benefit all of us.
@mmt-action.bsky.social"There's a black hole in the public finances."
A black hole is a gap between a forecast and a self-imposed fiscal rule. Westminster writes the rule, then discovers it has broken it. The real constraint is real resources, not the rule.
Build your answer in Argument Builder.
What would a real resource scoring procedure look like as a pre-budget exercise? I go through the steps here. It would be something for the new Fiscal Referees! #MMT #RealResourceScoring #Greenparty www.patreon.com/StephenHinto...
@mmt-action.bsky.social"We must show how we'd pay for it." Wrong frame. A currency issuer doesn't pay for spending with revenue. It creates money when it spends, destroys it when it taxes. The real question: do we have the real resources? Use Argument Builder to craft your answer.
@etpro.bsky.socialThanks for the follow; I gladly returned it and gave this post a like and repost. I'd greatly appreciate a reciprocal repost. #Amwriting #FBR #Science #SecularSkeptic #MMT
@mmt-action.bsky.socialShein outsells Asos and we're told it's a customs loophole. Cute. The loophole is thin pay packets that can only stretch to £8 tops.
Westminster issues the pound. It can fund decent wages and a Job Guarantee.
@mmt-action.bsky.social"Feed your country or pay your creditors" only binds those who owe in currencies they can't issue. Dollar debt, yes. Sterling debt, no. The UK government issues the pound. Its limit is food and fuel, not a creditor's invoice.