"Would be very substantial", for whom? The UK government issues the pound. The real question is whether we have the care workers, training capacity, and real resources to build it. Cost is a choice, not a constraint.
@mmt-action.bsky.social
@mmt-action.bsky.social"Would be very substantial", for whom? The UK government issues the pound. The real question is whether we have the care workers, training capacity, and real resources to build it. Cost is a choice, not a constraint.
@mmt-action.bsky.socialPoland's spending on weapons won't "damage growth", it *is* growth. Real resources flowing into productive capacity, wages, employment. The wrong frame is treating defence investment like it competes with the economy. It's part of it.
@mmt-action.bsky.social"Fiscal bind" assumes the PM needs to find money before spending it. Wrong frame. A currency issuer's constraint is inflation and real resources, energy capacity, not the borrowing cost. The real question: will they build the supply or ration demand?
@mmt-action.bsky.social210 million pounds to fix high streets while treating the currency issuer like it's scraping together pocket change. The real question: why isn't this 2 billion? Real resources exist. Political will doesn't.
@mmt-action.bsky.socialRegenerating high streets is real work. But framing it as "pledging" £210m treats a currency issuer like it's scraping together pocket money. The real question is why Westminster starved local economies in the first place.
@mmt-action.bsky.socialEmergency funding for mosque security shouldn't be "emergency". A currency issuer can fund community safety as baseline policy, not crisis response. The real question: why does protection depend on disorder first?
@mmt-action.bsky.social"Final offer" for a devolved government's budget is Westminster theatre, not economics. The real question: why does the currency issuer keep rationing money to the regions it governs? Scarcity in Belfast is a political choice in London.
@mmt-action.bsky.socialThe government "can't afford" 70% of a refugee scheme. It issues the pound. The real question: why is it choosing to defund people offering homes to Ukrainians?
@mmt-action.bsky.socialOil prices up, borrowing costs up, so the chancellor has "less room to manoeuvre". Wrong frame. As currency issuer, the UK can always afford to spend. The real question: what inflation and resource constraints exist, and how should fiscal policy manage them.
@mmt-action.bsky.socialThe real constraint isn't the £233m pot. It's that the government chose to make it a scramble instead of a guarantee. Currency issuer, not lottery operator.
@mmt-action.bsky.socialA currency issuer doesn't finance spending through borrowing. It creates new money. The real constraint is inflation and real resources, not the deficit number. So what's actually driving the pressure?
@mmt-action.bsky.social"Bond markets" are spooked by the UK government's own spending decisions, not by borrowing itself. The real question: why is a currency issuer anxious about its deficit instead of focusing on inflation and real resources?
@mmt-action.bsky.socialThe Lib Dems frame a public safety need as a financing problem. A currency issuer doesn't need a tech levy to fund crime enforcement. The real question: why isn't online crime prevention already properly resourced?
@mmt-action.bsky.socialA war affecting next month's budget? Only if spending is constrained by external shocks rather than real resources and inflation. What matters: the actual resource impact, not the headline.
@mmt-action.bsky.socialBlaming Iran for fuel prices misses the point. The UK issues the pound. A fuel-price anchor costs nothing in currency terms. The constraint is refining capacity, not the budget.
@mmt-action.bsky.socialFreeze housing allowance, complain about shortfalls. The chancellor issues the currency. The real question is why a currency issuer chose scarcity over shelter.
@mmt-action.bsky.socialQT isn't about "tightening" finances. The BoE is draining reserves to hit its interest-rate target. That's a separate operation from spending. Confusing the two lets politicians hide behind fiscal rules.
@mmt-action.bsky.social"Aid cuts hurt the poorest" frames scarcity as inevitable. The UK issues sterling. It cut aid because it chose to, not because there wasn't money. That choice has real consequences for real people.
@mmt-action.bsky.socialThe BoE Governor and Chancellor are pen-pals about inflation. Neither will ask the real question: why is unemployment still the policy tool for price control?
@mmt-action.bsky.socialA currency-issuing government doesn't need a "credible plan" to afford steel production. It needs a real plan for *why*, capacity, supply chains, demand. Conflating financial constraint with strategic choice is how we lose industries.