#mmt
These are public posts tagged with #mmt. You can interact with them if you have an account anywhere in the fediverse.
Monday's blog post (07/07) is now posted (16:07 EAT) - The Eurozone Member States are not equivalent to currency-issuing governments in fiscal flexibility - https://billmitchell.org/blog/?p=62651 #mmt
@phil_stevens@mastodon.nz@jeremy_pm The Crown is a monetary sovereign and by definition cannot go insolvent unless it's done with intent.
I get the feeling that the number of people who stake their livelihoods (or political careers) on avoiding, obfuscating, or flat-out lying about this is growing faster than the number we're supposed to be hyperventilating about.
#MMT needs to be part of the replacement of the Public Finance Act and the Reserve Bank Act, and while we're at it please take the boot off our throats.
Thursday's blog post (03/07) is now posted (07:32 Netherlands Time) - British Labour Government should ignore irrelevant fiscal 'black holes' and worry about the political hole it is digging for itself - https://billmitchell.org/blog/?p=62648 #MMT
@johnefrancis@cosocial.caSee? Debt/deficit doesn't matter.
I disagree with CBC's analysis that this is a transfer from young to old, since that relies on the assumption that taxes must eventually be increased to "pay it down/off". That's false. The debt of fiat currency issues always increases, pacing economic growth, deflating with inflation. It's normal.
U.S. Senate passes Trump's 'Big Beautiful Bill,' sends to House for final approval | CBC News
https://www.cbc.ca/news/world/senate-republican-trump-tax-spending-bill-1.7574808
The Republican-controlled U.S. Senate passed President Donald…
CBCIt's good to break out the popcorn, but keep in mind that the main reason #Musk is going apeshit, besides the fact that the Big Ugly Bill would hurt his #Tesla business, is that he thinks it would blow a hole in the deficit. In other words, it is not big or ugly enough. In reality, we have lived many times through massive deficit spending. #MMT
Answer to Poll No. 6 on US government finances: The statement given is true.
It is true that the US federal government can spend whatever it takes to meet people's basic needs... without increasing inflation.
Inflationary pressures are managed via choices as to when, where, & on what to spend.
Eg, extra welfare payments are typically spent back into the economy.
Such programs stimulate the economy without causing inflation.
Enjoy the videos and music you love, upload original…
www.youtube.comAnswer to Poll No. 4 on US government finances: The statement given is true.
As the currency issuer, the US federal government is never forced to borrow its own currency.
Info: In the UK (US is similar), "Public expenditure is always financed through money creation rather than taxation or debt issuance."
<p>This paper provides the first detailed institutional…
papers.ssrn.comAnswer to Poll No. 3 on US government finances: The statement given is false.
The truth is that the US fed government - as the issuer of USD - can never run out.
Info: In the UK (US is similar), "Public expenditure is always financed through money creation rather than taxation or debt issuance."
<p>This paper provides the first detailed institutional…
papers.ssrn.comAnswer to Poll No. 1 on US government finances: The statement given is false.
The truth is that the US federal government literally spends USD into being (out of thin air).
Fed taxes are used, not for spending, but rather for purposes of managing inflation, among others.
Info:
In the UK (US is similar), "Public expenditure is always financed through money creation rather than taxation or debt issuance."
<p>This paper provides the first detailed institutional…
papers.ssrn.comAnswer to Poll No. 2 on US government finances
It is true that:
"The US federal government is legally able to create USD out of thin air".
This currency issuing is how federal spending works (state spending is different)
Info: In the UK (US is similar), "Public expenditure is always financed through money creation rather than taxation or debt issuance."
<p>This paper provides the first detailed institutional…
papers.ssrn.com
@geld@mastodon.socialWelche Alternativen zu unserem heutigen #Geldsystem gibt es?
In Berlin findet im Rathaus Köpenick heute und morgen das "Geldsymposium" mit acht Lösungsansätzen statt. Mit diesen Anregungen startet morgen der demokratische Geldkonvent.
Die Veranstaltung ist ausverkauft.
#Kapitalismus #Vollgeld #Warengeld #OeffentlichesGeld #Regionalgeld #MMT #Freigeld
#Starmer climbs down on welfare bill after #Labour backlash. Still not acceptable. The #UK can coin its own money; therefore, the cuts are a matter of moral choice. https://www.bbc.com/news/articles/cq6my6v81z4o #MMT
Cuts to some disability benefits will only hit future…
www.bbc.comThursday's blog post (26/06) is now posted (16:22 EAST) - Australia - the inflation spike was transitory but central bankers hiked rates with only partial information - https://billmitchell.org/blog/?p=62641 #MMT
Monday's blog post (23/06) is now posted (17:15 EAST) - There will not be a fiscal crisis in Japan - https://billmitchell.org/blog/?p=62638 #MMT
@heinrichsgeist
Bei Themen, von denen ich nicht viel verstehe und wo ich den Eindruck habe, das ist nicht der Konsensus, versuche ich gerade auch Kritiker zu hören und mit Ringen breiteren Überblick zu verschaffen. Das hat für mich mit der Folge ganz gut funktioniert. Und wenn #MMT nicht im Kern mit Staatsschulden zu tun hat, dann muss ich nochmal ganz von vorne anfangen.
Ich habe mir die Folge WR1130 heute angehört. Das hat nix mit #mmt zu tun (war auch nicht der Anspruch). Man merkt, dass die Interviewees im Mainstream verwurzelt sind: Der Staat finanziert sich demnach über Steuern. "Überbordende" Schulden führen demnach zwangsläufig zu Inflation. Schuldenquote entscheidet demnach darüber, ob ein Staatshaushalt solide ist. Es kann für den Staat wohl schwierig werden seine eignen Schulden in eigener Währung zu bedienen. Staatsschulden scheinen auch irgendwie notwendig, wenn eine Privatperson ein Haus finanzieren will...Soso.
Dagegen keine Erklärung von: Unterschied Zentralbankgeld/Buchgeld, Geschäftsbank/Zentralbank, Unterschied Verschuldung in eigener oder Fremdwährung, Buchhalterische Identität von Schulden/Vermögen, Sektoralbilanzen und die logische Konsequenz daraus...
Immerhin wurde klar benannt, dass die Unternehmen zu Nettosparern geworden sind. Die Konsequenz für die Rolle des Staates wurde aber nicht hergestellt.
@RichardJMurphy
Thank you very much. That was the best explanation of #MMT that I‘ve come across because it was clear， conscice and minimised the ’economist‘s jargon’。 I‘m boosting this because many in the #Fediverse are just not in the picture and those that are generally see it as a panacea for all our economic ills。
Thanks again
Jetzt wollte ich mir schon eine Folge zu #MMT bei @holgi wünschen. Habe aber vorher nochmal im Archiv nachgeschaut und WR1130 gefunden.
Ich bin dieses Jahr erst über das Thema gestolpert (Elektrotechniker) und habe jetzt ein Problem. Was ich bisher dazu konsumiert habe (Stephanie Kelton und Monika Stemmer) funktioniert für mich. Aber jetzt bin ich noch mehr genervt von Wirtschaftspolitikern und will noch viel mehr die tiefere Integration des Euroraums.