Paul

@wbmosler It's sustainable, yes....until it isn't. MMT thrives on infinite growth.

Too entertaining to let go by: msn.com/en-us/money/ma…

@chrislhayes Yes. But now he is free of the MSNBC bridle.

A huge loss for us. An exceptional host and colleague.

@FindingMoneyDoc @BostonGlobe @brattle Yes. As a scientist one immediately sees that Kelton’s mirror graph is a symptom of a self -defined identity. Meaningless. A =~(~A). Eureka!

FINDING THE MONEY WINS! Audience Award for Best Feature Film at the Green Film Festival of San Francisco! Thank you to all who came out and watched at home! NEXT SHOWING: @BostonGlobe Docs #GlobeDocsFF This Saturday! Oct 28 - 1pm @Brattle Get tickets 👉 globe.com/filmfest

@StephanieKelton One slight problem with the analogy, the US government does not print most of the money "tokens" in the economy - banks do. That could be changed with proper legislation.

Here's the first page of an article Randy Wray and I published back in 2000. It applies the "can we resource it?" question to Social Security. More than 2 decades later, the entire mainstream discourse remains focused on the wrong 'problem.' 1/2 tools.bard.edu/wwwmedia/resou…

@DanielDenvir This is the worst interview Dan has ever done - never challenged his guests' flat and binary view of the world. They were preaching to a choir rather than "teaching-in". They lumped all Americans, Israelis and "the West" into one monolith as they did for deeply divided Palestine

Another new Dig radio ep: our Palestine Teach-In. The best clips from our extensive Dig archives on Palestine and Israel. We hope this is a useful resource. More coming next week. thedigradio.com/podcast/palest…

@AllredRd @TXOdysseus @TRHLofficial Seems like the solution is to stop gov spending and taxation at the time. Same result. Less hassle

@TXOdysseus @TRHLofficial The govt can't just keep regularly adding money to the economy without also regularly removing some of it. Otherwise dollars would soon pile up in the economy to ridiculous excess & cause the dreaded inflation. Note the third function of federal taxes explained by Paul Sheard—

President Richard Nixon "temporarily" closed the gold window on August 15, 1971. It has been closed now "temporarily" for 52 years. This was done because of massive inflation in the supply of US dollars (Vietnam & Great Society spending). Other countries were exchanging their dollars for US gold reserves because they doubted the value of the US dollar. Since 1971, we have had inflation which has run WAY ahead of income growth. Other assets, such as real estate housing, have also run WAY ahead of income growth. Our CPI inflation data is mostly fake. Inflation is probably much higher than the reported numbers. Most of us intuitively know that when we go grocery shopping these days. Time to permanently open the Gold Standard back up.

@Cybersheep6 @geflugelzukunft @BrotundSpiele2 And what do you think cows eat, hamburgers?

@geflugelzukunft @BrotundSpiele2 Ganz im Gegenteil: Würden wir alle vegetarisch oder vegan leben wollen, gäbe es kaum noch Grünzeug. Wir würden verhungern, da das Zeug kaum Nährwert aufweist, verglichen mit tierischen Produkten. Gülle düngt prima, wenn man es nicht übertreibt, Leder, Pelz und Federn wärmen uns.

„Verzicht auf Nutztiere entlastet Umwelt und Klima kaum“: Gut erklärt von Prof. Dr. Wilhelm Windisch - ohne Nutztiere keine #Kreislaufwirtschaft! Wir brauchen die #Tierhaltung für ein ausbalanciertes Ernährungssystem. brnw.ch/21wCCrv

@SchonungslosYT @Tofuwa_Bohu @MrM4rf @CorneliaHuth @VQuaschning Read the study. It answers your question.

@Tofuwa_Bohu @MrM4rf @CorneliaHuth @VQuaschning Nur wenn die Weidefläche sonst für den Anbau anderer Dinge genutzt werden würde, was nicht der Fall ist. Zusätzlich muss man keine Dünger verwenden, keine Pestizide ... Also warum ist das "schädlicher" fürs Klima?

Bis zu 20.000 Tote allein in Derna (Libyen). Ohne die Rekorderhitzung der Meere infolge der #Klimakrise hätte es so eine Flut nicht gegeben. Für rund 4% der Treibhausgase und damit auch 4% der Opfer sind wir in Deutschland verantwortlich. spiegel.de/ausland/buerge…

@yanisvaroufakis @mera25_gr Twitter won’t translate Greek🤨

Ήταν όντως πολλά τα εναέρια μέσα κύριε Μητσοτάκη; – Έγκλημα σε αναμονή η πτώση του Canadair στην Κάρυστο mera25.gr/itan-ontos-pol… via @mera25_gr

@arnebanani Actually pasture raised cows create more greenhouse gas than factory raised. There is also a strong connection between a virus in cows leading to type 1 diabetes. Don’t cut down milk consumption- just stop.

@LynAldenContact @swedishsamu The only thing missing is causality. Inflation is too complex to pass off as being "caused by" gov debt. Since only banks and shadow banks can create "delta M"= M2- M0, need to dig deeper for a meaningful explanation.

@swedishsamu A minority of US federal debt is owned by the foreign sector.

The two biggest source of broad money creation are 1) bank lending and 2) fiscal deficits. In the 1970s inflation saga we had lending dominance, while in the 1910s, 1940s, and 2020s inflation sagas we had fiscal dominance

@StephanieKelton No one disputes that the Treas and Fed coordinate - not a revelation. Since taxation is matched with gov spending, it's hardly a damper on the economy.

It’s a very tight synopsis of a paper I published in 2000. tandfonline.com/doi/abs/10.108…

Arguably the most important (and widely ignored) series of insights in MMT. From Wray’s book, Making Money Work for Us. (p. 109)

@StephanieKelton Long and short rates can be disconnected. Maybe not "crowd out" but certainly compete. Finally admitting that the gov only creates reserves - a payment vehicle not the bulk of the money supply.

@StephanieKelton See Frederick Soddy for a deeper and more fundamental understanding of money.

Published 110 years ago, this essay had a clarifying effect on my own thinking about the nature and origin of money some 25 years ago. “What is Money?” 1/ modernmoneynetwork.org/sites/default/…

@rch371 @CharliePatrick @jasonfurman @tribelaw I think it naive to assume conservative SC justices are not “economically crazy”.

@CharliePatrick @jasonfurman @tribelaw Yep. And you must bear in mind, both (a) that the 14A isn't the only basis on which Larry and I argue, and (b) socially conservative justices are not all economically crazy. Cf. (1) Larry et Moi: thehill.com/opinion/financ… (2) NYT et Moi: nytimes.com/2023/05/09/opi…

I’m optimistic the debt limit will be raised. But thinking more, if talks fail, the 14th Amendment & platinum coin are not workable break glass options. Both bad economic/financial risks (possibly even more than prioritization) & would likely be blocked by the Supreme Court.

@JaneLane99 @Tofuwa_Bohu @isawida He just sighed. Is that bullying? Sounds like a little bit of projection.

@Tofuwa_Bohu @isawida Ich will Harlekin Vorbild im Aktivismus sein sondern nur unterstützen aber dafür sind Omnivore euch ja nicht gut genug 🤷🏻‍♀️ Kauf ich halt keinen Hoodie von denen damit ich nicht von Veganern angepöbelt werde. Ich darf ja anonym Kohle locker machen

@Tofuwa_Bohu @isawida @JaneLane99 Yes, like being anti gun violence while carrying one in your belt.

@JaneLane99 @isawida Not quite. You are only really supporting them if you are vegan.

@isawida Also darf man die nur unterstützen wenn man Veganer ist? Empfinde ich als Gatekeeping aber ok

@rch371 Talks tough ... until he caves.

'I hope that I’m wrong about this — that President Biden will, at the last minute, unveil an effective counter to G.O.P. blackmail. He may even be forced to do so.' - Yes, he will. And we know what to do. DO it, Joe. nytimes.com/2023/05/16/opi…

@Daydrea13445895 @Tofuwa_Bohu People reduce eating meat because they believe it to be harmful. Why is it then OK to be harmful on Sunday? Should a rapist be proud that he is cutting down on his raping?