@steakerz.bsky.socialOMG! Justin is on R4 and I thought for a second that we were in for good news as he talked to Sir Charlie Bean about how the govt could reduce borrowing rates. But any thoughts of an emergency being called regarding interest rates were just a fleeting dream. No, cut welfare was the only option #MMT
@realprogressives.bsky.socialMacro N Cheese episode 396 “Recession By Design: Who Pays For The Business Cycle?” ft John Harvey
RP Substack post: substack.com/@realprogres...
Full episode on RP website: realprogressives.org/mnc-podcast-...
@blockedbritain.bsky.socialEmpty training beds. Qualified applicants turned away. GP surgeries collapsing. Rahul wanted to train as a nurse in Ilford South. Redbridge College told him: no funding. But the equipment was there, the lecturers were there, the patients needed the care.
@mmt-action.bsky.socialThe real scandal isn't who donates. It's that we've outsourced economic policy to donors at all. A currency issuer doesn't need anyone's money. It chooses to spend or not. Campaign finance is a symptom, not the disease.
@mmt-action.bsky.socialGovernments don't search for money in some vault. They create it. Watch Finding the Money this weekend and see how the money actually works. Free to watch right now.
@mmt-action.bsky.socialThe real threat to democracy isn't who funds parties. It's that we've accepted the lie that governments need donations to spend. A currency issuer doesn't fundraise. It spends first, taxes second. That's where power actually lives.
@mmt-action.bsky.socialThe state pension rises by wage growth, inflation, or 2.5%. But the real question: why does a currency issuer tie its own spending to arbitrary formulas instead of setting pensions at subsistence level, period? The UK creates pounds. It can afford dignity.
@realprogressives.bsky.socialMacro N Cheese episode 396 “Recession By Design: Who Pays For The Business Cycle?” ft John Harvey
Full episode on RP website: realprogressives.org/mnc-podcast-...
RP Substack post: substack.com/@realprogres...
@mmt-action.bsky.socialCrypto billionaires funding politics is a real problem. But blaming "donations" misses it: the constraint isn't money in politics, it's *who controls the currency*. Fix the spending power, not the symptom.
@mmt-action.bsky.socialThe real question isn't whether the government can afford to run a steel mill. It can. It's whether steel production matters. It does. So why was this framed as impossible until now?
@mml-europe.bsky.socialThe Stability and Growth Pact caps Eurozone deficits at 3% of GDP. But that limit is law, not economics. Member states can create euros via their national central banks. The real constraint on public investment is inflation and real resources, not the rules book.
@mmt-action.bsky.socialUnions worried a cap hurts union donations? That's backwards. Real corruption isn't donations, it's that politicians pretend they're broke and cut public services. A currency issuer can't run out of money. Stop treating politics like household budgets.
@mmt-action.bsky.socialThe objection is always 'where's the money for climate?' The real question is whether we have the forests, engineers, supply chains and materials to fix it. A currency issuer can always fund the work. Real resources are the limit.
@mmt-action.bsky.socialThink you've got an anti-MMT argument that'll stick? Bring it. Test your best objection against the MMT Challenge and see where it breaks. Nobody's beaten the bot yet.
@mmt-action.bsky.socialVAT cuts won't save hospitality. The real problem: govt isn't spending enough into the sector. Tax breaks are housewife economics. Currency issuers create demand by spending, not by letting businesses keep more pounds they already earned.
@ciaranmundy.bsky.socialA major frustration I have with arguments around this that a hike in energy prices is inevitable.
NO! Gov can create ALL money needed to INVEST IN INFRASTRUCTURE - Making individuals pay high elec. bills would be bonkers as it disinsentivises consumer driven electrification (Heating, EVs etc.) #MMT
@mml-europe.bsky.socialEU fiscal rules are political choices, not financial laws. National central banks can create euros for their governments. The SGP, debt brakes, and ESM conditionality decide when member states spend. The real constraint is inflation and real resources, not solvency.
@mmt-action.bsky.socialThe real scandal isn't donation rules, it's that we're debating who gets to buy influence while pretending government spending needs rich people's permission. Currency issuer doesn't need donor cash.
@realprogressives.bsky.socialNew! Episode 396 – Recession by Design: Who Pays for the Business Cycle? with John T. Harvey
Link to our FREE #Substack in comments below 👇
#capitalism #cancer #MMT
@realprogressives.bsky.socialNew! Episode 396 – Recession by Design: Who Pays for the Business Cycle? with John T. Harvey
Link to our FREE #Substack in comments below 👇
#capitalism #cancer #MMT
