EconomicReboot

@EconomicRbt101 @DavidMcNab17 @barua_ashish Schizophrenic creation of intra-governmental liability can sustain an impression that tax & bonds fund the issuance of govt liability to non-govt.

JD Vance is lecturing the Pope on Catholicism and Pierre Poilievre is lecturing Mark Carney on economics and RFK Jr is lecturing scientists about vaccines and Donald Trump is lecturing the world on tariffs and Pete Hegseth is quoting Pulp Fiction and thinking it’s the Bible

HMRC lost £500bn last year due to the richest avoiding tax. That's enough to re-arm the country and build 100 new hospitals with 50,000 new nurses. Why do the rich hate this country?

I'll tell you who does 'rely on benefits'. It's the supermarket chains that pay their bosses millions of pounds a year while driving shopworker wages down to levels that force staff to claim Universal Credit.

The Norwegian example is illustrative. In the last few years, our wealth tax received massive media attention, described by media outlets as leading to an "exodus" of the wealthy. But only ~1.7% of the ultra-wealthy actually left. Tax revenue boomed

The Reckoning Comes on 7 May Labour is about to lose its cities. The Greens are the reason why. On 7 May 2026, something is going to happen in British politics that the commentariat has been too timid to say plainly: the Labour Party is going to be evicted from the cities it has occupied for decades, not by the right, but by the left it abandoned. open.substack.com/pub/europeanpo…

No problem. If you're genuinely interested in the monetary system, I'm happy to chat. You're right about the rubbish out there, I've been inspired by @ProfSteveKeen to start a YT channel and try to make a difference. You should check out his YT channel, as I said, he brings the receipts. Take it easy man, 😃

@EconomicRbt101 @barua_ashish @ProfSteveKeen Im sorry idk why I said that I literally have no idea wtf I'm talking about here lol my bad I'm just tired of people posting their own stuff as evidence for their claims and you blend in with all of these faceless political social media channels that anyone could make

You will never catch Milton Friedman explaining how monetary operations actually work between a central bank and its own government, because once you understand that reality, the entire mainstream narrative collapses. What we’ve been fed for decades is nothing short of economic gaslighting in broad daylight. The idea that the government is “spending taxpayers’ money” is one of the biggest myths ever sold. It sounds intuitive, it sounds responsible, and it is completely false. A sovereign government does not spend your money. It does not wait around for taxes or borrowings to “fund” itself. That’s not how modern monetary systems operate. Government spending comes first; it is created through keystrokes, through the coordinated operations of the treasury and the central bank. Taxes and bonds come later, serving entirely different purposes: managing demand, controlling inflation, maintaining interest rate targets, not financing spending. So let’s be absolutely clear: The government is not a household. It is not constrained like you or me. And it does not spend someone else’s money. Repeating that lie over and over doesn’t make it true; it just keeps people confused while bad policy continues. #LearnMMT

Zohran on CBS: " I think what we can see is that a democratic socialist politics is one that should be judged on its delivery, like any ideology ...  I think that this is a politics that can flourish anywhere because, frankly, there is only one majority in this country — that's the working class and it's time we have a politics that puts them at the heart of what it is that we're pursuing and not as part of the appendix."

"only supine politicians, central bankers and mass media keep us enslaved to bond markets"

@the39guy @barua_ashish I made it colourful so you'd find it easy to understand. I also based it on the facts as outlined by the Bank of England and the FED. How is it wrong? Do you have a coherent argument? Read and follow @ProfSteveKeen if you want to understand how things really work.

@EconomicRbt101 @barua_ashish Oh oops that's you LMAO posting a graph you made as evidence

Please share. Experienced bond trader outlines why only supine politicians, central bankers and mass media keep us enslaved to bond markets. For me we must also consider FX markets, but a network of suitably informed social democratic states could crush money-market power and lead us to economic renewal. vincegomez.com/articles/the-b…

“You are not a real man unless you behave the way that I tell you real men should behave”

Another belter from Mr T 🔥 “What are central banks for?” Or “Can we ever win a war if we only target inflation?”

@TonyWard867811 What is Bitcoin always priced in?

Remove London from the equation. The rest of Britain has a lower GDP per capita than Mississippi. Mississippi. America's poorest state. The US is growing. GDP per capita rising. The whole pie getting bigger. Britain is shrinking per person, per family, per generation. And the solution our leadership is reaching for is closer ties to Brussels. A nanny state bloc with zero growth, record regulation, and energy prices that are strangling what little industry remains. We are not suffering from bad luck. We are suffering from thirty years of leaders who chose the wrong model every single time. And kept choosing it. Bitcoin does not need a Brussels. Does not need a Westminster. Does not negotiate with decline. It just keeps the score honestly.

@d_magpie There is a direction to money as shown below. Its created, spent, removed and saved in that order then the whole cycle starts again.

Does the wake of a boat push it along the water? Do the contrails from a plane propel it through the air? Do the exhaust fumes from a bus drive it along the road? Of course not! So why do you think tax funds the currency issuer? Whatever we can actually do we can afford👇🏻

@RollingHedge Also the Laffer curve is nonsense and he lost a debate very badly with @RichardJMurphy . You should look up his video here youtu.be/X3WtE1SPv-o?si… where he takes the whole stupid notion apart. @ProfSteveKeen

This account does proper work and more people should read it. Greens and Green-curious, this one's for you. Not a gotcha, not a conversion pitch. Just the maths your own side has to answer to before any of the rest of it matters. £4.8 trillion. £78k a head. That's the starting position of every policy conversation in this country, whether anyone on the platform admits it or not. You can tax, you can borrow, you can print. Tax has a ceiling the Laffer curve already found. Borrowing runs into a gilt market that's been telling us for two years it's done subsidising us. Printing debases the currency your wages and your rent are denominated in, which hits the people you claim to care about first and hardest. None of that is right-wing. It's just immutable arithmetic. MMT describes the plumbing fine, it just doesn't repeal the consequences and its suggestions to print more money only exacerbates the existing inequality - that you rightly call out as a problem. It is a problem. We agree. I'm not asking you to forgive the Tories. I'm not asking you to love Labour. I'm asking whether the people asking for your vote now have actually sat down with the gilt curve and worked out how their programme survives contact with it. If the answer is just vibes, then you're a protest vote, and a protest vote in this fiscal environment is a luxury the country can't afford. Thirty years of being let down. You're right to be angry. So are we. That's the bridge. Perhaps we can still walk across it.

The national "debt" is just savings of money already created by the government (see chart below). The BofE could pay it all back tomorrow but it would put £3t back into the economy and then you would be screaming about inflation, loss of purchasing power and that you want somewhere safe to keep it, like a govt bond. The debt is constantly being paid off and the people who get their money back generally decide to buy more bonds. £78k a head is just a demonstration of the inequality the neoliberal system has created in the last 40 years. In the time you probably want to get back to, the 1950's to 1970's, the top rate of tax was over 90% and in that time we built millions of houses, schools, motorways and infrastructure that was an asset for us all. Then it was sold off by people like you. In that time, the national "debt" to GDP went from 250% to 50%. You need to look a bit wider in your understanding of where money comes from and what the purpose of tax and bonds truly is, not what you are told by MSM and every economic text book and commentator on TV. Try thinking for yourself from first principles instead of regurgitating this nonsense. Look up @ProfSteveKeen as he brings the receipts and proper in depth understanding of reality.

@trentconsultant @cpeedell @wesstreeting Can we please 🙏 stop referring to the term ‘cost the taxpayer’ when referring to public services and the NHS. It drives the very under-investment that you decry! Public money is created by fiat. Tax is essential but serves no funding purpose at UK Government level 👇🏻

"Tax is essential but serves no funding purpose at UK Government level"