I don’t know why I didn’t announce it last week. But after taking some time in maternity leave I have now finally passed my PhD upgrade viva and I am now officially a PhD candidate at @iipp-ucl.bsky.social , looking at ways to model inflation risk in the economy. Yey!

Radio pundits asking themselves why our Govt seems fine with foreign states running companies within the UK. Well, what private companies & foreign states have in common, of course, is that they can’t be held democratically accountable by us. Our govt is allergic to democracy.

Btw… “The government can put the rich in their place! … but… to do so it first needs to get some money from them” … is not a coherent argument.

That OBR forecast would have a lot more weight if it wasn’t because they tend to overestimate economic performance and underestimate the damage austerity causes *every* *single* *time*.

How the government's "magic money" computers work.

Maybe this is why he was so upset? www.ft.com/content/62df...

The priority of Fiat currencies should be to ensure workers and those who depend on them have reliable and decent incomes during both booms and recessions. The priority of Fiat currencies should not be to protect the value of the assets of idle rich people.

Reeves MUST know that further cuts will just deepen the recession. Surely she MUST know.

If Trump doesn’t want a trade deficit why does he want the $ to stay as reserve currency? What’s the point? Does he even know what a reserve currency is?

If you’re defending immigrants (and you should) please don’t argue that the main benefit of having them is to have an available underclass of people ready to work for peanuts.

The size of the US trade deficit is a reflection of its status as a world reserve currency. It is a position of privilege which allowed the US to benefit from consuming substantially more than it produced, gaining it *real* wealth. Trump now frames this as exploitative.

Un the context of endogenous money, it is far more likely that the money supply responds to inflation. And not vice-versa.

“You will never reach your destination if you stop and throw stones at every dog that barks.” W.S.C

Trump is a bag of contradictions: “Anti imperialist, but lets annex Canada” “The US is the victim, so we’re going to crush everyone because we can” “We can’t go bankrupt as we create $, but govt debt is bankrupting us” “$ reserve currency= good BUT countries saving $=bad”

Watching “One hundred Years of Solitude” on Netflix (I’ve been waiting for this for years) and it’s as good as it possibly could have been. So recommend but not as highly as I recommend reading the actual book. 🧵

One of the few things that neoclassical economists are good at is "gatekeeping." They have methodological gatekeeping: our method, or your research is not scientific/economics. Some feminist economists see this phenomenon from the lens of feminism From Tejani, 2019

Have you considered that the governments policy to create unemployment is what is causing the unemployment? Have you considered that those out of work due to mental health issues may be suffering from mental health issues?

Money printer go brrr for me but not for thee.

The Bitcoin crowd wanted the government to stop “printing money”, unless it was to buy Bitcoin. I.e. unless it made them rich.

what a disaster - the far right and the neoliberal right are going to face each other in the second round of the Romania presidential elections

What’s clear to me from farmers protests. 1) Farming land value going up has little to do with farming activities and more to do with land as a financial asset. 2) Farmers saw the increase in value as a consolation price for what is generally really badly paid work.

"Taxation should distinguish between working farmers and tax-dodging chancers". Important from James Rebanks, @herdyshepherd.bsky.social unherd.com/2024/11/a-fa...

🔔 Public service announcement. Bond markets cannot physically stop government spending. Once government spending is approved by Parliament nothing can stop it. Thank you for your attention.

This analogy tells me two things. 1) That we should maintain faith in politicians (pilots) no matter how badly they lead us (fly the plane), because 2) we can only do worse if we attempt to change things. Hopeless, depressing and intellectually lazy.

Marx on Elon Musk From x.com/philosophycuck www.marxists.org/archive/marx...

The place that shall not be named is currently debating whether to have unfettered free trade OR tariffs on all imports. And im here like…

"There are two kinds of (economic) forecasters: those who don't know, and those who don't know they don't know." -John Kenneth Galbraith

Although the owner of X is openly lying to people about Government spending & taxation, at least now we all have BlueSky to properly inform people about how economics actually works.

Considering using my own domain. has anyone here done it/had any problems?

I’ll just leave my Austerity narrative flowchart here in case anyone needs to persuade a Lefty pundit/politician not to try to compete with the Right on debt hawkishness. Remember, all routes down that path lead to austerity.

Honestly, everyone should read this book by @benadavis.bsky.social Better appreciated in the context of his previous book “A thesis on Art and Class”. Best book on the topic I’ve read since Berger’s ‘ways of seeing’. www.worldofbooks.com/en-gb/produc...

I guess it depends on whether BlueSkyers achieve critical mass.

Capitalism has a way of identifying any emerging revolutionary energy & diffusing it by co-opting some of its more superficial tenets. Discontent with the system is thus harnessed through adoption of revolutionary speech but used to enlist us in a more predatory version of itself.

The whole Government buying Bitcoin thing is just a massive “pump and dump” scheme. Allowing big holders to cash in a profit while the government props up its value.

There should be a Bluesky version of YouTube imho