perfect metaphors don’t exis—

LeMonde said, not on our watch

Мало знаю про Бардо, но ее роль в кино День Радио подарила много радости. youtu.be/0SqtmpawmoY?...

Let's choose kindness in 2026. youtu.be/lopMMkz0law

Top tier joke

Rather excellent thread Let’s be very clear here. This is exactly why it was exceptionally unwise of the Supreme Court to wade into this space using ‘biological sex’ as a defining concept, because as soon as you talk to actual biologists the simple binary unravels. Not a stable basis for law.

New translation of Wissenschaft als Beruf just dropped.

“He said, ‘I’m going to die – please see my family [and tell them] that I went down to save people’s lives’,” Alkanj recounted, before Ahmed tackled the shooter, taking his rifle. this guy, honestly. amazing.

For the second year in a row, the wealth gains for the 100 richest Americans exceeded what ALL American households spent on groceries combined. ~$995B for billionaires vs ~$775B in total grocery spending. We have an oligarchy and inequality problem masquerading as an affordability crisis.

Look, for real, if you have a problem with trans folks, you can unfollow or block me right now. (And if you think this is virtue signalling, you can go too, although I'm immune to all that ad hominem shit) These are our brothers and sisters, for fuck's sake.

This is really quite awful. I hope that Brian Cox follows him out the door.

Why are they called elves and not "subordinate clauses"

The fact that @yuanfenyang.bsky.social gets only 5 minutes every other month or so to ask great questions about the worst understood issue in fiscal policy suggests to me that oversight is fundamentally, deeply broken.

I see the BBC confronted with the reality of a decision incompatible with both (1) what it told its audience the Tribunal had decided and (2) its strongly transphobic editorial line, is now participating in a highly partial and baseless smearing of the Tribunal www.bbc.co.uk/news/article...

Versuche die verdammten Ohrwürmer Ikkimels wenigstens an meinen Lebensstil anzupassen. Gassi und Krawall doch mit mir läuft ein Hund. Bäuchlein ist prall und sein Arsch ist rund. Das beste Tier im Stall Auf keinen Fall so dumm. Ganz nicht so wie Cap’n Morgan, Kastriert, macht nicht ‘rum.

Starting to feel like handing out so much writing advice on students’ essays is becoming a form of auto-intimidation: what if my own writing fails to embody the techniques I urge on them, or displays the very infelicities I caution them against?

Today in people I wish I could vote for.

When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done.

A very, very interesting piece on how eating-out markets work today.

BoE line about interest on reserves is that reducing is a fiscal decision for the government to make. But payments were never legislated—it was a BoE decision, which apparently sought an ok from the Treasury, in 2006 when this was an issue of millions rather than billions. But look now:

Headline today should be: ‘Court roundly rejects harassment claim against trans woman doctor but concludes NHS mishandled investigation’ Willful misinterpretation of Supreme Court Equalities Act decision rejected. bsky.app/profile/good...

This is the second decision - both first instance - since the appalling For (Some) Women Scotland decision to find that there is no trans bathroom ban. www.gov.uk/employment-t...

The independence of the Bank of England was supposed to facilitate the application of economic reasoning to public policy. But if independence=taboo on discussing the interactions btw fiscal & monetary policy, then not even technocrats deliberate on one of the biggest economic policy issues!

it might seem surprising that the people who said “look, let trans people live their lives, but i have Reasonable Concerns about sports and toilets” aren’t up in arms about this, but what you have to remember is that those people who said that are liars who were lying

The true long-term cost of delegation: Enabling private deliberation by removing public deliberation eventually destroys capacity for economic reasoning at the society/polity level.

The independence of the Bank of England was supposed to facilitate the application of economic reasoning to public policy. But if independence=taboo on discussing the interactions btw fiscal & monetary policy, then not even technocrats deliberate on one of the biggest economic policy issues!

In sum: if folks want to beat up on MM theorists for not being systematic on resource constraints, fine. But have some humility: our MMT-that-dare-not-speak-its-name has comprehensively eviscerated our ability to even DISCUSS what a sensible relationship between fiscal and monetary policy would be.

In the 3 fiscal years from April 2022-March 2025, ~£147 bln (72% of w redemptions, 32% indemnities) = 6.5% of central government tax revenue, was sent by the Treasury to the BoE so the BoE could destroy (delete) it. Right amount of tax-financed money supply reduction? Not a debate we're having! 2/n

I tend to agree with you. I wrote this post partly because I didn't see any engagement with MMT on this issue: mainlymacro.blogspot.com/2024/04/coul... Would be interested in your thoughts.

IMHO, Murphy's very sloppy. But UK fiscal policy since QE/QT amounts to MMT that dare not speak its name. Viz:Osborne et al spent ~£120 bln of the money created to purchase gilts in QE. Too much monetisation-financed fiscal spending, or too little? MMT could at least pose the question! As for QT 1/n

IMHO, Murphy's very sloppy. But UK fiscal policy since QE/QT amounts to MMT that dare not speak its name. Viz:Osborne et al spent ~£120 bln of the money created to purchase gilts in QE. Too much monetisation-financed fiscal spending, or too little? MMT could at least pose the question! As for QT 1/n

This aphorism is by me, not Karl Polanyi, but I think it's a fair rendering of the lessons one might draw from his account of the interwar period.

BoE line about interest on reserves is that reducing is a fiscal decision for the government to make. But payments were never legislated—it was a BoE decision, which apparently sought an ok from the Treasury, in 2006 when this was an issue of millions rather than billions. But look now:

If you took this clip as the whole story you got played. @zackpolanski.bsky.social also mentioned James Meadway @meadwaj.bsky.social which changes the picture, but the clip truncated his answer.

The correct single- sentence essence of economics is ‘your leverage is my business’. Or possibly: ‘Don’t model economics on physics’. www.ft.com/content/e196...

“The chancellor’s failure to levy a windfall tax on the banking sector in the budget is a damning indictment of the stronghold the sector continues to have over our politics.” Our comments in this great piece about how banks swerved tax rises last week. www.theguardian.com/uk-news/2025...

Piehouse Workers Co-op - Emergency Fundraiser! www.crowdfunder.co.uk/p/piehouse-w...

The task is not to make anti-fascism consistent with the financial system, but to make the financial system consistent with anti-fascism.

Effectiveness of this change will be limited by the fact that under present QT policy, the BOE and APF will keep selling unreasonably long-maturity debt. However, a simple reform--allowing the DMO to bid on auctions of APF gilts--would bring all gilt issue policy under Treasury control.

Even after the mansion tax is applied, the owner of a £5m home in Westminster will pay proportionately less in property tax than the owner of a £210k Band B property in Sunderland.

OBR assumptions on QT look significantly more realistic than in the past. They've chosen to assume a constant level of active sales from here forward, which is certainly better than what they were doing before. Not that this is the way the process should be organised, but that's a different issue.

"[I]f history were to repeat itself and we were to return to the so-called "normalcy" of the 1920's—then it is certain that even though we shall have conquered our enemies on the battlefields abroad, we shall have yielded to the spirit of Fascism here at home." Franklin D. Roosevelt, 1944

I wish I didn’t have to share this. But the BBC has decided to censor my first Reith Lecture. They deleted the line in which I describe Donald Trump as “the most openly corrupt president in American history.” /1

If Karl Polanyi were around today he would sound not like Blue Labour but like this.

The task is not to make anti-fascism consistent with the financial system, but to make the financial system consistent with anti-fascism.

Bloomberg taking a shot across the bow of @zackpolanski.bsky.social — but should we listen to an economist (and Times columnist btw) whose main concern regarding Reform is its fiscal policy? www.bloomberg.com/news/article...

Despite planning to continue paying the banks 3 x more in interest on reserves than they pay in corporate and related taxes, Reeves is reduced to begging the banks for PR help to sell her budget. on.ft.com/4iDbqqB

My department has just announced a tenure track position for a scholar in any field of political science except for political theory (and IR, which is in a different department at LSE). For details, please see here: jobs.lse.ac.uk/Vacancies/W/...

In case you were wondering, the bond market consists of 11 white men and 1 Asian woman. www.ft.com/content/e01f...