Robert Cauneau

Quando abbiamo governanti ignoranti totali in economia come il ministro Giorgetti che non capisce che la moneta si crea solo se lo Stato spende in deficit e non se la prende a prestito. Vero @ClaudioBorghi ???@RobertoBazzichi @olindocervi @michele_geraci

@CatoInstitute @veroderugy As I reviewed with Steve Moore decades ago at Cato, the funds to pay taxes and buy Tsy (gov) secs come only from the Fed (gov), all as a point of logic. That is, gov spends first and then those funds are used to pay taxes and buy tsy secs. He agreed but wouldn't go there...

@RiccardoTrezzi Fiscal space is a policy decision, and not a matter of monetary operations.

How can "inflation expectations" be anchored? Nobody knows. They are truly a "fantastic object". There is no consensus on how to measure them in the first place. Central banks cannot reduce energy prices and hence cannot fight inflation from this source.

@franceinfo Comment un personnage de ce niveau, @ThierryBreton, qui de plus a été ministre des finances, ignorant le caractère profondément cyclique et naturellement contra-cyclique du déficit public, peut-il être autant économiquement inculte ? : linkedin.com/posts/robert-c…

Ex-commissaire européen, Thierry Breton veut "inscrire dans la Constitution française une règle d’or limitant le déficit public à 1% du PIB à l’horizon 2032" l.franceinfo.fr/1Ty

@haugejostein Sustaining full employment, which is always an immediate policy option with any nation with its own currency, would make all the difference.

Either authors have no clue about how the economy works or you employ this nonsense argument to impose austerity policies. Governments/CBs can never go out of their own currency. They create money when they spend. Public debt is risk-free as you teach in corporate finance.

Ottimo Dirk come sempre : il deficit di bilancio è una statistica e non può essere "finanziato". @MegasAlex2000 @robert_cauneau @olindocervi @SabrySocial

C'è chi non capisce e scrive trattati di 600 pagine che non risolvono nulla, e chi in poche righe spiega e indica soluzioni reali. Il genio distilla in una riga ciò che il mediocre annega in un volume. 😉 @Chini_Francesco @MegasAlex2000 @SabrySocial

@IOMentalAlchemy The 'artificial misery' created to make money valuable is the imposition of tax liabilities payable in gov's currency, which creates sellers of real goods/services/etc. Gov can then provision itself by offering jobs to anyone willing and able to work, ending poverty it created.

Mycket läsvärt av @robert_cauneau från @france_mmt. mmt-france.org/2025/10/05/mmt…

@FarrellM22 @TheEconRebel Tax cuts tend to increase demand, lending support to prices. But more often what we call 'inflation' is driven by other factors, such as oil price hikes.

@Odin2001iom Unemployment evidences gov spending that's insufficient to cover the need to pay taxes and desire to save.

Un article de L. Randall Wray qui retrace à la fois ➡️ l’histoire méconnue de la monnaie ➡️ la genèse de la #MMT (de @wbmosler aux débats actuels). Une lecture essentielle pour comprendre comment le passé éclaire les défis économiques d’aujourd’hui. mmt-france.org/2026/03/02/lap…

@JavierGC14 @juanpdiiorio It's incomplete until you model the currency itself as a public monopoly, starting with coercive taxation. The price level is then a function of prices paid by gov, etc.

@Gambit121 Unemployment is the evidence that gov spending isn't sufficient to cover tax payments + savings desires. Fiscal is the steering wheel for making corrections as private sector credit/savings desires vary, which they necessarily do. The problem is the driver asleep at the wheel.

Our research suggests monetary policy is less effective in reducing inflation than conventional wisdom suggests. Needed: realistic expectations about what can be achieved + broader mix of instruments (fiscal, industrial, competition) to ensure price stability at a reasonable cost

@BRICSinfo Start with domestic full employment fiscal balance and a 0 rate policy. It's the low hanging fruit of prosperity. Then drop all non-strategic tariffs etc. and optimize real terms of trade as icing on the cake. ;)

Guess who thinks the Fed might have the rate thing backwards? @wbmosler "In an interview with Fortune, Rieder argued the Fed’s interest rate hikes are the wrong medicine for the economy’s current disease. 'It’s ambiguous to me today, at best, whether a higher [interest] rate helps bring down inflation versus actually contributes to it,” he said'." 1/

Link in reply. With thanks to @wbmosler