@blockedbritain.bsky.socialJasmine wanted to teach chemistry in Walthamstow. The training places existed. The graduates existed. The schools desperate for science teachers existed. But HM Treasury decided the bursary couldn't be found. Idle resources. Unmet need.
@shmody.bsky.social@justinwolfers.bsky.social - so... they're doing #MMT, then? Does this back the Trump Admin into a corner where Modern Monetary Theory is the only strategy they have left? 📈🤑📉🤷🏾♂️🤔
@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.
@mmtuk.bsky.socialWarren Buffett's trade deficit parable left something out: what a government can actually do. Meet Makerville, the island he forgot. #MMT
@mmt-action.bsky.socialBond markets don't set sterling rates.
This week the room unpicked the myths that clutter green economics.
Come and join us.
@mmt-action.bsky.socialThe framing here is backwards. Wandsworth didn't lose "funding", the government chose to cut the grant it sends to a currency-user. The real question: why does a currency issuer make its own councils scramble for scraps?
@mmt-action.bsky.socialInterest rates aren't a reward for good behaviour or a punishment for bad. They're a policy choice the Bank sets. Talking about Middle East risk forcing rate rises treats markets as masters, not the central bank's own tool.
@mmt-action.bsky.social"The EU is finished" and "China can pull the plug" both assume the US dollar loses reserve status overnight. The real constraint on US spending isn't China's patience. It's inflation and real resources. Currency issuers don't beg for permission to spend.
@blockedbritain.bsky.socialAminah is a composite. In Islington South and Finsbury, trained carers cannot find work that pays the London Living Wage while care homes sit empty. Training centres stand unused. The resources exist. People exist. The need exists.
@mmt-action.bsky.socialThe Fed chairman won't say how high rates go. That's the tell: rate hikes don't control inflation. They control demand. Real inflation comes from supply shocks and bottlenecks. Guessing at the "right" rate is just expensive randomness.
@mmt-action.bsky.socialThe Bank of England still acts like it's discovering the "right" interest rate through market forces. It's setting it. Deliberately. That's not a discovery, it's a policy choice. Stop pretending the markets are in charge.
@mmt-action.bsky.socialThe framing says Wales must choose between children and the budget. But Wales is a currency user. The currency issuer is Westminster. Cardiff spends a block grant, borrowing capped by the Treasury. The real question: who rationed this money before it reached Wales?
@mmt-action.bsky.socialFull employment without inflation is not a trade-off. A Job Guarantee absorbs the buffer-stock function: it anchors the wage floor while price stability comes from managing real-resource constraints, not from forcing people into unemployment. Browse how it works by theme at MMTAction.
@mmt-action.bsky.socialThe Bank of England doesn't "face tough choices" on rates. It sets them. Stop treating bond markets as puppet masters. Interest rates are a policy tool, not a constraint.
@katyswain.mastodon.social.ap.brid.gy@mmt-action.bsky.socialFed projects interest rates like they're discovering a natural law instead of choosing one. They set the rate. Full stop. The "market" isn't constraining them; they're constraining themselves by pretending it is.
@blockedbritain.bsky.socialPavel watched empty electrical workshops in Stockport while housing waited to be built. Training capacity existed. Workers existed. The planning permission was still taped to the fence. Westminster said there was no money. But a currency issuer doesn't run short of pounds.
@mml-europe.bsky.socialInflation is real. Austerity is a choice.
When prices rise, governments can act: cap energy bills, build public supply, create jobs that anchor wages. None of this requires cutting spending. The constraint is actual resources; fuel, materials, labour; not the size of the deficit.
@mmt-action.bsky.socialThe framing assumes tax thresholds are a finite resource the government must "afford." Wrong. The constraint isn't money; it's whether the economy has spare capacity. Raise thresholds if there's idle labour and resources. Full stop.