Embarrassed by what exactly, Rick? Rick thinks the framework for understanding and explaining the capacity of a currency issuing state with its own fiat floating currency - like the UK has been since 1971 -is akin to believing in lizard people. Don't be like Rick, don't embarrass yourself.

I mean ... Rick doesn't understand how govt fiscal ops work. He thinks Gilts are a funding operation, not a refinancing operation. Don't be like Rick.

Brand new #MacroNCheese episode 375 "(R)evolutionary Struggle" out now on the Real Progressives #Substack and our RP website! Links in comment below. ⬇️ #MMT #revolution #classwar

Socialists understand we live in an oligarchy but MMT adds that currency-issuing governments can’t go broke. National Debt panic is political theater. Find all our ep: realprogressives.org/macro-n-cheese/ #LearnMMT #Oligarchy #PoliticalTheater

Steve describes his journey and that of Real Progressives. Our MMT focus has expanded to encompass a robust critique of capitalism. Transformative change requires macroeconomic literacy and class consciousness. #LearnMMT #capitalism #ClassConsciousness

This illustrates the "Spend-First" sequence of government finance. It shows that the state issues and spends money - to pay for the army, infrastructure, and salaries - before it ever asks citizens to return that money in the form of taxes. #MMT

"The bond market is not the government's creditor. It is its customer."

. @richardjmurphy.bsky.social argues the Job Guarantee isn't integral to MMT - just a policy option. This reveals fundamental confusion about MMT's insights. 🧵

Murphy misunderstands the Job Guarantee as either/or with broader fiscal policy when #MMT sees them as complementary. JG provides automatic stabilisation, expanding in recessions, contracting in booms, while other spending target mmtaction.com/s/5sr792/

While it is true that the vast majority of money in circulation takes the form of bank deposits, those deposits function only because of a deeper layer of money provided by the state. #MMT mmtmichael.substack.com/p/printing-p...

Interest rates are a terrible way to control inflation. open.substack.com/pub/jgs952/p...

"It's worth reading this piece from Money on the Left published today. It addresses the tensions around the new Verdant think tank and pushes back against both centrist hand-wringing about 'market confidence' and left critiques that dismiss MMT as mere technocracy." www.reddit.com/r/UKGreens/c...

Spend then tax is a different paradigm which informs a position that deficits don’t *inherently* cause problems. Tax then spend informs a position that they basically do, otherwise we wouldn’t be talking about a singular black hole in the economy every time there is a budget.

But the analytical frame a correct logical view provides **does** matter to economic policy. Functional finance vs sound finance is not unique to MMT but it's validity is grounded on a proper understanding of state credit money - something current orthodoxy doesn't have, including you apparently 🤷‍♂️

"If you operate as if the state must first obtain money via tax or selling gilts to spend, you make mistakes"

I interrupted my EU5 series to address some of the MMT wrangling in the U.K. open.substack.com/pub/bondecon...

I know if Murphy & have listened to some of his YouTube videos I don’t care that he calls himself an MMTer But he disagrees with some core MMT stuff that the founders say is a core part of MMT Like it’s part of what defines MMT. Example is a Job Guarantee No Job Guarantee, no MMT

Nah, I'm happy for anyone to mention it in my presence ... as long as they have the first idea what MMT actually is.

Don't hold your breath 👍

Six years ago today, I was trying to get a single health policy idea out of the longest serving Shadow Health secretary in history. He was more up for selfies. He is, of course, famous for clogging up TV sofas after losing his seat.

WOW!! 🔥 🧶Untangle the complex threads of Socialist Tradition & weave in a little MMT with Varn & @austerityismurder.bsky.social 📚 Listen now and save yourself like 15 years of heavy reading! 🙃 #Marx #Lenin #Stalin #Trotsky #anarchy #socialism #communism #MMT realprogressives.org/mnc-podcast-...

5. Both currency depreciation and geopolitical shocks that raise the price of imports are examples of what economists call 'importing inflation'. Modern Monetary Theory (MMT) versus Orthodox Economists on Inflation — Who’s Right? tinyurl.com/yfcd3j89

2. We will be talking about MMT and more. With Steve you can always expect ‘more’ and he always delivers - because the man’s a force of nature. :-) Keep well, keep busy and have a good Sunday.

"Second, we do not believe that any and all inflation that does result from excessive demand can and should be addressed by higher taxes. This is a distortion of our view, as years of publications can attest. When MMT says that a major role of taxes is to help offset demand rather than generate ...

I do my best to write about Modern Monetary Theory (MMT) in plain language. It’s not always possible - so for that reason I wrote my ‘jargon buster’ documents – where I define any jargon I use. You will find part 1 here: tinyurl.com/yman37m2 Parts 2, 3 and 4 are linked.

Thames Water boss tells regulator to be lenient over fines/penalties. TW has abused customers since 1989. Despite 187 criminal convictions, it dumps sewage , borrows money to pay dividends, neglects investment. Directors must be fined and prosecuted. Nationalise water.

Different day, same neoliberal framing 🤦

Found another one who doesn't understand #MMT but thinks their opinion on the matter should be taken seriously 🤦

Petty snark. MMT economists chair econ departments, edit academic journals, produce hundreds of PhD students, author thousands of peer-reviewed articles, (text)books, etc.

Spread the word. “Anything we can actually do, we can afford.” — John Maynard Keynes #MMT #UniversalJobGuarantee #DeficitMyth #FiatCurrencyIsaKeystroke #FiatCurrencyIsAnAccountingLedgerItem

Clearly, the way to get away with protests in the UK is to bring farm equipment. Also, protests are supposed to be disruptive.

15 minute read on the extensive ties between Labour and the world's most exploitative companies. Lobbying firms that peddle political influence and access to MPs are full of Labour insiders 👇https://labourrightwatch.wordpress.com/2025/03/16/lobbyistshttps://tinyurl.com/5hujcbhm

🧀 If you’re trying to understand modern money theory or you want to explain MMT to others, this is the episode. Economist L. Randall Wray explains the basics and debunks the myths that hold us back. realprogressives.org/mnc-podcast-...

Happy Monday to all you beautiful commie bastards out there x

Wes Streeting is implying that getting a psychiatric diagnosis gives access to disability benefits. This is untrue. PIP is based on functionality and you have to be disabled++, with extensive evidence from experts, to qualify. No psychiatric diagnosis grants automatic access.

Politicians for Sale. UK political parties accepted £100m in donations in 2024. Donations are bribes made to exercise influence, subvert public choices and ensure that corporations/rich rule. Normal people can't compete. Can't cleanse politics without banning donations.

Right on cue 😂 You couldn't make it up, could you! www.bbc.co.uk/news/article...

#CriminalJustice #GuildfordFour There's an increasingly authoritarian direction of travel with Starmer's Govt '50 years on, lessons from that monumental miscarriage of justice have “all been eroded” with senior judges back to pushing for guilty verdicts' morningstaronline.co.uk/article/brit...

#Petition #Infinite #Pineapple #AnalTorture #Racist #NigelFarage #FuckNazis #Brexit #UKPolitics

We are about to start our 8th trimester. We've more MMT/ecological economics students now than ever before. You could join us in June or Sept, regardless of your age or where you live. Any first degree or sufficient work experience would qualify you to enrol. modernmoneylab.org.au/courses/

Stupidity - give up the £ for the €? Hand over control of state spending to Brussels, ultimately Germany? See what the € has done for German infrastructure. Yes, get trade deal with EU but learn MMT and stop being fooled about what a decent govt can do with its own money www.gimms.org.uk

It beggars belief that anyone would want to rejoin this mess. #EU

The US has spent billions sending weapons to Ukraine to reverse Russia's invasion because it's such an outrage against the 'rules-based order'. But the US permanently 'taking over' Gaza and expelling its people is just a good real-estate opportunity.

This is worth remembering because The Guardian (and Jones) continue to go about their business, as does the rest of The Establishment, of which they are a permissible part, while we ordinary people continue to struggle under the boot. Know thy enemy, even when they employ thy friend...

I wrote this thing. It's far from perfect, but at least it's done. Feedback welcome, especially if you're actually doing something. jksteinberger.medium.com/a-few-points...

"fiscal rules", "taxpayers money", different day, same old bullshit.