Warren B. Mosler
@wbmosler
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https://t.co/d1bTABHu14 Free online The 7 DIF: https://t.co/bFdUV9xPTR “too rational for a world obsessed with irrational glamour”
St. Croix USVI
Joined March 2009
Wonder what he'd make of this: https://t.co/UAyY2Defu1 ;)
“There is more analytic insight in a single page of Roemer’s book than in the entire MMT corpus.” Juvenile and unprofessional.
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All this heterodox vs mainstream warfare and most of them - including heterodox - still have failed to recognize that as a point of simple, basic, elementary school logic, the funds to pay taxes and buy govt securities necessarily come from govt spending (or lending).
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Story of my life...
Have a very bright, long-time friend in academia who is into mainstream macro modeling. But can’t explain how Congress, Treasury, and the Fed are related. Nor how money is created. Nor why a nation would borrow its own currency. But is absolutely certain that MMT is bullshit.
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Real resources are transferred and consumed by spending that occurs today, which creates reserve balances and corresponding deposits in the banking system. The issuance of Treasury bills or gilts converts existing reserve balances into interest-bearing securities; it does not
When the government borrows money to pay for public spending today that spending-from-borrowing today uses real resources today in exchange for a promise to supply real resources tomorrow (paying back the loan). That isn't some accounting trick. It's an exchange of real resources
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Fun fact: If you ever wanted proof that modern gun politics is built on linguistic fantasy, here it is. A massive corpus study of 1.3 billion words from the Founding era shows that 99.2% of all uses of “bear arms” referred to military service, not hunting or personal
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every headline today is just someone being corrupt and/or evil with the assistance of the US president
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The accelerating parallels between the US and Nazi Germany, which have always existed, remind me of the Peleus trial - a British military court case in 1945 that convicted five crew members of the German submarine U-852 in 1944 for the murder of survivors from the torpedoed Greek
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Under broad definitions of 'money' ;)
“How do you persuade a politician to stop using monetary finance” Mainstream econs: THIS is why there is still “MMT” One of the smartest guys in the room (Farmer) still misses the key point: ALL Gov spending is “monetary finance”— it is all “money creation”- bonds can’t Δ this
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EV sales way down as expected: Calculated Risk: November Forecast: Vehicle Sales Down Year-over-year
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@farmerrf But how large should the deficit be? MMT doesn’t give a number because it says there is no number. The deficit is not a target. It’s an outcome.
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In his first term term pardoned 17 high profile drug dealers. In his second term, he has pardoned three high profile drug dealers listed below. Eliminating drug dealers is very high on Trump‘s priority list. Unless they have money to pay for a pardon.
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Government “spends money into existence”. MMT language, implying that Government spending is unconstrained, being presented as established fact rather than a fringe view. Can see why Polanski is pleased but very odd from a BBC correspondent.
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Does he even have the authority to close the airspace around Venezuela???
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If true, this is a war crime. And anyone, from Pete Hegseth to senior military staff, who authorized a war crime should be held accountable. If a naval vessel is sunk, survivors are "protected persons" per the Geneva convention, like a pilot who ejects after being shot down.
Textbook war crime/extrajudicial killing "Two survivors were clinging to the smoldering wreck. The Special Operations commander overseeing the Sept. 2 attack ... ordered a second strike to comply with Hegseth’s instructions." reporting by @AlexHortonTX @nakashimae
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🚨 WARNING TO MINNEAPOLIS, MN RESIDENTS A far right activist named Jake Lang is now targeting Minneapolis with the same fear campaign he pushed in Dearborn, and people need to understand exactly who he is and what he has been doing. Lang is a pardoned January 6th terrorist who
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The official @DHSgov account is now tweeting neo-Nazi slogans, officially declaring its support for eliminating the entire nonwhite population of America. Do any news agencies think this is a story? Or are they all too scared to admit what the government has become?
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A day after promising military strikes on Venezuela to “deter drug traffickers,” Trump announced he’s pardoning the narco-dictator of Honduras, Juan Orlando Hernandez—who’s serving 45 years in prison for working alongside El Chapo to smuggle 400+ tons of cocaine into the US. The
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@Investeraren @socialdemokrat Det @socialdemokrat borde göra är att minska behovet av sparande genom att se till att alla har en trygg inkomst hela livet. Staten ska inte placera pengar på aktiemarknaden och staten ska inte uppmuntra privat sparande. Det innebär ett enormt resursslöseri. Staten borde betala
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Trump and his administration have targeted at least 470 people, organizations and institutions for retribution since he took office, according to a @Reuters tally – an average of more than one a day.
reuters.com
A Reuters investigation documents at least 470 acts of retribution under Trump’s leadership.
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Trump’s Thanksgiving post isn’t a greeting: it’s an eliminationist manifesto written by a man in visible cognitive and psychological freefall, complete with slurs and mass-punishment fantasies. This is the mental and moral state of the sitting President of the United States.
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