.\ Tom Foster at tomfoster66 dot bsky dot social

Rethinking Money 4a Doughnut Economy 👇Fyi @StephanieKelton @wbmosler @ptcherneva @DEhnts @deniseshrivell @wgoggin @PatriciaNPino @MMTpodcast @chrisrudge @CheeseMacro @MMT101DotORG @france_mmt @Williamgallus @sheridanvk @malcolm_reavell @DavidMcNab17 @shaahin_a

This Wed May 27th I’ll be presenting on Kate Raworth’s @DoughnutEcon free Research for Action Seminar Series. Register to receive live link or a copy of the recording. Please feel free to share: doughnuteconomics.org/events/researc…

@deniseshrivell @KristenLock1 I just returned home frm a seminar on #postgrowth on a wet Sunday arvo in Sydney & organised at late notice on Wed, yet room was full People r looking 4 new economic thinking outside of neoliberalism paradigm Suggest candidates & parties start offering them @KosSamaras 2/fin

@deniseshrivell @KristenLock1 I wish him well in this endeavour. However, like all other MP/Sens in Parly, he’s not shown any sign of offering economic policy alternatives that sit outside the neoliberal paradigm. So how much diff could his party offer? I suggest he looks outside the mainstream 4 ideas /1

This! ‘There's this recognition that on so many of these big challenges we are facing, it's not necessarily left versus right, it's actually vested interests and their stranglehold on the major parties versus the Australian people." #auspol #insiders abc.net.au/news/2026-05-2…

@DemzDeliver Hopefully not tied to a tax increase.

I want to describe the Middle Passage to you. Not abstractly. Specifically. Enslaved people were loaded onto ships in West Africa at a ratio calculated to maximize profit after accounting for expected deaths in transit. They were chained in holds with roughly eighteen inches of vertical space, unable to sit upright, lying in their own excrement for voyages that lasted between three weeks and three months. Mortality rates on Middle Passage ships averaged between 10 and 20 percent. On some voyages, significantly higher. Historians estimate that between 1.5 and 2 million people died during the crossing, their bodies thrown into the Atlantic. Those who arrived alive were washed, oiled to appear healthy, and sold on docks while buyers examined their teeth and bodies like livestock. You described this system as "not necessarily a nightmare" and compared the labor that followed to picking crops in Africa. I am not going to debate you on the merits of this position. I am going to ask you to read what I just wrote. And then I am going to ask you whether the problem is that you don't know this history, or that you know it and have decided it doesn't change your argument. Because the answer to that question tells us something important. Not about slavery. About you.

This is better…

Roger Penrose, Nobel Prize-winning physicist and mathematician, explains why we should stop calling it AI and start calling it "artificial cleverness": He believes the entire field is mislabelled, and the label itself is doing damage. His objection is simple but cuts deep: "The name is wrong. It's not artificial intelligence. It's not intelligence. Intelligence would involve consciousness. Well, if it's a machine, it's not conscious." For Penrose, people have confused raw computing power with genuine understanding. "People have lost the plot. They've lost it in the power of computing. The thing is that computers have got so powerful that they've lost the thread of what they're doing. But I think consciousness is something different. It's not computational." He believes the term itself has hypnotized people into a category error: "People are so hypnotized. The trouble is that AI is a bad term. It means artificial intelligence. Now intelligence in my view is conscious. That's what intelligence is about." So he proposes a rename. Artificial Cleverness. AC instead of AI. To illustrate the distinction, Penrose draws on his experience teaching mathematics: "You have mathematics students. Some of them understand what they're doing. Some are just clever. They can repeat what they've learned. They know how to do it very cleverly. They can calculate very well, but they don't necessarily understand what they're doing." That gap, between calculating well and actually understanding, is the gap Penrose sees between today's machines and genuine intelligence. Cleverness can be manufactured. Consciousness, in his view, cannot. So the question worth sitting with: when we call a system "intelligent," are we describing what it does, or quietly assuming something about what it is?

@rossco1304 @silverex331 Two of the three teams lost against Auckland teams…

@silverex331 At least my NRL team is leading at half time.

In the space of 4 hours on a Saturday evening/night all the football teams that I support lost their matches, one of them a Grand Final. Yay for football.

@rossco1304 PK heard you😉

I really think that there might be a Sydney sub or two needed in the next few minutes. Lolley....

@jenko0923 @MicallefPhilip @aleaguemen Google AI says: The lowest table position from which an A-League Men team has won the Grand Final is 3rd. This has occurred multiple times, most recently with Western United in the 2021–22 season, Melbourne Victory in 2014–15, and the Central Coast Mariners in 2012–13

@MicallefPhilip @aleaguemen No think lowest is Victory which was fourth.

Has any team won the @aleaguemen from fifth or sixth in the premiership?

@bjslowey 0-0 at HT has served us well so far thru the finals

really poor half, created nothing. hoping we have some different ideas for the 2nd 45mins

“A young man who travels a lot is older than an old man who stays in the village.” -African Proverb-

The Wizard of Oz turns 87 this year, and back in 1998, critic Rick Polito wrote what might be the greatest one-line TV listing ever for TCM.

WHO’S WITH ME?? 💙🌎

Never confuse education with intelligence, you can have a PhD and still be an idiot. - Richard Feynman

Liberal leader Robert Menzies built houses for Australians because even the coalition thought that housing was a human right. Menzies government had a national housing commission that built cheap and affordable housing for Australians. The right wing government of Robert Menzies was more socialist, more progressive and more sovereign thinking than the Anthony Albanese Labor government, who is giving money to private developers to build houses a profit, or raising dead shit policies that put all the pressure on first homebuyers. Helping?

#PoliticsLive #RachelReeves #WesStreeting: It is impossible for the currency-issuing State to run out of money. Money “lent” to the Treasury by the Bank of England is money “lent” to the State by the State; such “debt” will never be called in, much less will bailiffs be sent round. Call this “the Magic Money Tree” if you will. There is no comparison between running the economy and managing a household budget, or even a business. There is no “national credit card” to “max out”. “Fiscal headroom” is only the gap between the Government’s tax and spending plans and what would be allowed under the fiscal rules that it sets for itself and changes frequently. davidaslindsay.blogspot.com/2026/05/a-weal…

#Newsnight #bbcqt #Inflation #Unemployment: Margaret Thatcher must never have seen a banknote, since she thought that the State had no money of its own. In reality, the issuing of currency is an act of the State, which is literally the creator of all money. As a sovereign state with its own free-floating, fiat currency, the United Kingdom has as much of that currency as it chooses to issue to itself, with readily available fiscal and monetary means of controlling any inflationary effect, means that therefore need to be under democratic political control. The responsibility of the Government is to ensure the supply of goods and services to be purchased with that currency. davidaslindsay.blogspot.com/2026/05/a-weal…