Discover and read the best of Twitter Threads about #Austerity

Most recents (24)

Where's the Italian #austerity so many people rant on about?? So much for #Conte's nonsense about #Italy's politics being "enslaved by finance"??

Spesa corrente al netto degli interessi *in livelli* non scende mai!
Il grafico in %PIL l'ho messo solo per ridere piu' forte 1/2
Questa invece è la crescita cumulata dei principali componenti della spesa corrente del governo centrale al netto degli interessi... Mannaggia! ma tutto questo #neoliberismo non ci farà mica male?!
Read 3 tweets
Super thrilled to announce that "Did #Austerity cause #brexit?" has just been accepted for publication at the @AEAjournals in the American Economic Review. Short thread on whole paper available here wrap.warwick.ac.uk/106313/...
The paper traces the rapid rise of #UKIP after 2010, and the developing of anti-establishment and growing polarisation along key socio-economic divides over time.
And highlights that #austerity policies, in particular, the hollowing out of the welfare state since 2010 induced many individuals to adopt anti-establishment sentiment -- these were successfully channeled into votes for #Leave and #UKIP
Read 9 tweets
Thrilled to be on the op-ed page of the @FT! word limit was very tight (my 714 cut down to 615) so here follow a few explainers, expansions, further thoughts... 1/x
I was asked to write about mini-BOTS and assignats. Some would say they're complete opposites: assignats "backed" by land, #miniBOTs by nothing. But what gives money value isn't what's "behind" it but what's ahead--who will take it, for what 2/x
If #MiniBots are introduced, they will be circulate as a quasi-currency in parallel w euros. The anti-EU League Party is making vague #MMT anti #Austerity noises, but DO NOT BE FOOLED. A "parallel" voluntary money will not be good for ordinary people 3/x
Read 18 tweets
Does it occur to people that #Tory #Conservativ Cuts are directly targeted towards ..
Aged, Unemployed, Single parents ,Low paid , Sick & Disabled people , & CHILDREN ?
Can you see a pattern emerge ? All the Vulnerable people especially in #Labour run areas...?
the Cuts have been imposed even more severely ...
The only conclusion is ..

If you do not Work ? The #Tories will do all in their power to Kill people...Including CHILDREN )

I repeat they will actively work towards vulnerable people's demise & Death !
The language from the #Conservatives #Tories ?
They actually call people ...non productive & Useless Eaters ! I repeat ...Useless Eaters ...

If I was wrong & this was only a few top #Tories who were knowingly pushing people to Starvation ,Suicide & Death with their #Cuts
Read 7 tweets
The long-awaited @Alston_UNSR report is finally out. srpoverty.org/country-visits… A strongly evidenced evisceration of the UK's recent record on #poverty covering the disastrous #humanrights impacts of welfare reform & cuts to social protection, w/ a particular focus on #childpoverty
@Alston_UNSR Other issues addressed by @alston_UNSR incl food security, the gendered nature of poverty, privatisation & serious shortcomings in the way that poverty is measured in the UK. Several key recomms echo those of other #UN #HumanRights bodies to the Uk, incl #CRC & #CESCR Committees
@Alston_UNSR Will lessons be learnt in order to address the 'systematic', 'stark' and 'ideological' erosion of the social safety net ? It was depressingly unsurprising to hear the government's trenchant response to the report as 'barely believable' and of apparent plans to complain to the UN
Read 4 tweets
The philosophy of science seems distant from political & everyday life. But it maps the fuzzy border between faith & rational thought about facts. "When you tell me I'm wrong you prove that I'm right!" Witch-finders & Freudians unite! You have nothing to lose but your brains:
An example from @Jonathan_K_Cook: "McCarthyism is not just the hounding of someone because their views are unpopular. It is the creation...of a perfect, self-rationalising system of incrimination...the modern political parallel of the witch hunt." jonathan-cook.net/blog/2019-02-2…
In UK politics an epidemic of accusations of antisemitism against @jeremycorbyn & the #LabourParty seems to be a proxy indicator of awareness & fear in some parts of our political world that #JeremyCorbyn's fairly relentless focus on #Austerity & Tory misdeeds does get results.
Read 9 tweets
Ah, the #EuropeanParliamentElection knocks at the door! Let’s see who is #campaigning for what…In #Italy, a #rightwingcoalition calls for a #guaranteedincome, #largerpensions, and resistance to the heavy-handed #austerityprograms enforced by the #EuropeanUnion.
In #France, some #rightwinggroups champion #fight against #climatechange, decry #exploitation of #foreignworkers, growing #economicinequality. What about the #centerright and #centerleft parties? #Polls show they will lose their #majority, and the Euroskeptics bag 30+% of seats.
However, #Euroskeptic, like #populist, is a term that obscures more than it reveals. #Spain’s leftist #Podemos isn’t likely to break bread with #Italy’s rightist #NorthernLeague-#M5S, but both are considered #Euroskeptic. Some are really #wolves but wear #sheepskins.
Read 18 tweets
@INETeconomics By a chance, the article saying #MMT "theorists ignore how their policies could hurt developing countries" places #Ukraine currency #hryvnia (notes of 20 hryvnia's) as its cover picture.

1/n
@INETeconomics Btw, another time when #MMT-related literature opted by a mere chance to associate itself with #Ukraine's currency was the book 'Can "It" Happen Again?' written by Hyman Minsky (2nd ed published in 2016).

This time there is a jar of coins 5 kopecks each (5 #копійок).

2/n
@INETeconomics I am #Ukrainian, having a 22-year experience in the Ukraine's financial sector (1995-2017) and working full-day jobs first as bank officer doing debts/credits and then as research economist. I worked in the banking sector as well as in the non-banking financial sector.

3/n
Read 31 tweets
There's been relatively little discussion about Brexit at @ucu VP hustings. This is likely because of our collective levels of despair, and ferocity of views held, but we as a union MUST be on top of the issues as strongly as possible. Here are my thoughts ⬇ /1
Thanks to @alvaromp for the question - I hope to be able to talk more to him and others in person about this (and more) at remaining hustings!
(List: vicky4vp.co.uk/2019/02/10/ucu…) /2
It would be easy to panic & disappear into a black hole of doom over current state of #Brexitshambles. But as a trade union we must always look for ways to defend, protect + improve the situation for our members & for society as a whole. 3/
Read 18 tweets
1. A short story of #Brexit in four acts. Act 1) in 2010 Coalition comes to power and presses on with dramatic #austerity, wrecking the UK's social compact... causing massive economic harm...leading to 2015 General Election
2.... in which Cameron promised an #EUref, while secretly speculating on another hung parliament with #LibDems blocking such a referendum theguardian.com/world/2019/jan… Yet, Act 2) lots of #austerity disgruntled #LibDems & 2010 non-voters, along with some Cons voters switched to..
3. #UKIP in 2015 General Election. #LibDems got wiped out, #Cons gained 27 seats from LibDems (out 28 overall seat gain), while #Labour lost massively to #SNP -- allowing Cameron to go alone, being pushed by #Brexiteers in #Conservative party to go ahead with #EUref.
Read 9 tweets
According to Brexit the Uncivil War

Leave campaign influenced the majority of people by placing Facebook posts and other social media methods.based on collating information

and applying complex algorithms based on social behavioral patterns.
The show enforced so many dubious cliches though.

It kind of enforced the notion that any movement came be forced by social media influence.

Is this because people need to fear social media and NOT regard it as a means of individuals combining to otherthrow oppression?
The characters who were supposed to represent the different attitudes towards Brexit made Eastenders characters look overly complex.

The way that they depict people trawling billions of social media accounts, millions of which are fake bot accounts themselves is hilarious.
Read 12 tweets
I agree with the sentiment but I cannot emphasise enough that #homelessness, #foodbanks, #ChildPoverty, #HostileEnvironment all existed before #brexit. They are not a consequence of #brexit but #Conservatives policy. It doesn't have to be this way, it's a political choice ->
Before someone from #FBPE jumps in and says "that's because focus has been on brexit" ... not it isn't. This is #Conservative policy. The privatisation of #NHS, the changes in #Education, reductions in #LegalAid ... where has the #EU been in stopping all this? It hasn't.
There has been a constant drive to reform society from health to education, none of which is about addressing the issues of inequality.

Labour demands inquiry into how GCSE reform has benefited private schools - theguardian.com/education/2018…
Read 5 tweets
Strong start by @GregHands. Sound choice of shirt/tie.
Also: mentions the 5 new schools in his area since 2010. He attended 3 of their openings. Results of these schools are stonking. #statstastic
Ooh, accurate use of P8 alert. 👏👏👏
Read 47 tweets
New @cage_warwick paper with @EleAla on "Who is NOT voting for Brexit anymore?" Using local area estimates from @chrishanretty based on data from a 20k @Survation poll we study how the level & geography of support for Leave has changed since 2016... goo.gl/CkUkgD 1/
Swing away from #Leave is widespread and happening broadly across the UK, specifically in England, Wales, Cornwall and the North. Overall estimated level of support for Leave is 6 percentage points lower across UK, but masks significant heterogeneity. 2/
We follow similar approach as in earlier work with @essobecker and @DennisNovy to decompose the geographic variation to identify which factors are capturing the variation across the UK in the swing away from #Leave to #Remain.... 3/
Read 8 tweets
"The Government’s place is not to be assisting people who think they can’t make it on their own, it’s an absolute last emergency order” --> the words of UN Special Rapporteur on Extreme Poverty & Human Rights @Alston_UNSR should shame Britain & need to be publicised. My THREAD:
Professor Philip Alston said that 14 million people are in poverty in the UK (a figure the Government disputes) and that child poverty rates are “staggering” and are predicted to go up significantly over the next couple of years. #poverty #humanrights #austerity
The UN Special Rapporteur said he saw “a lot of misery” during his trip to the UK & met “a lot of people who feel the system is really there just to punish them”. People who could have gotten help in "yesterday's Britain" can no longer count on it #poverty #humanrights #austerity
Read 15 tweets
Dear anyone who thinks they will vote Conservative when we have a #GeneralElection ...please read the below report from UN Rapporteur on extreme poverty & human rights before you cast your vote.

Let your conscience do the rest.

#ChildrenInNeed #Poverty
ohchr.org/EN/NewsEvents/…
“But through it all, one actor has stubbornly resisted seeing the situation for what it is. The Government has remained determinedly in a state of denial.”

@theresa_may @EstherMcVey1

#UNVisit2018 #poverty
“Even while devolved authorities in Scotland & N Ireland are frantically trying to devise ways to ‘mitigate’, or in other words counteract, at least the worst features of the Government’s benefits policy, Ministers insisted to me that all is well and running acc to plan”
#Poverty
Read 20 tweets
...capito perché non se ne uscirà mai..?!?!
Dollar Shortage #FED
...le due chart "chiave"
Seguire #Fed fund rate futures e Eurodollar Futures oltre al libor è l'unica cosa che conta davvero e che impatta l'economia globale e la natura dei mercato aldilà degli algos telecomandati...
Libor up by 0.35 bps
Libor at 2.61813%
SPOT LOIS at 28.513
Read 135 tweets
A widespread perception around #MTBPS2018 today is that there are too many public servants, who're paid too much, & that we can only afford to expand services/investment if these costs are cut back. But check this 👇 thread, & see whether this is in fact correct @Zwelinzima1
Despite having to extend services to a large population historically excluded from many services, the numbers employed by government (local provincial & national) compared to the numbers employed under apartheid has not significantly increased as a share of total employment.
There was a reduction of 203 000 public service jobs between 1995-99. While those cutbacks were subsequently reversed, this was not done on a scale which kept pace with the growth in the economy, the population, or service delivery requirements.
Read 24 tweets
As we go into tomorrows budget policy statement, it is useful to reflect on a #UN report which warns against the dangers of #austerity in South Africa.
A thread on the #MTBPS:

#UN report👇
tbinternet.ohchr.org/_layouts/treat…

@SECTION27news @Zwelinzima1 @GiladIsaacs @social_rights
Following its first review of SA, the UN Committee on Economic, Social and Cultural Rights has called on the government to review its fiscal policies in order for the country to meet its human rights obligations and achieve greater levels of economic redistribution.
Citing “unacceptably high levels of ...inequalities” persisting since apartheid,the Comm said inadequate “personal &corporate income taxes, capital gains &transaction taxes, inheritance tax, &property tax, dont enable [SA]to mobilize the resources required to reduce inequalities”
Read 14 tweets
Did #Austerity Cause #Brexit? I have received some comments on the paper that have engaged with the data, but am more than happy to stand my ground. Here is why...
Recently, Noah Carl @NuffieldCollege studied national level opinion poll time series, arguing that the lack of evidence of an uptick in post 2010 support for Leave is evidence suggesting that austerity had nothing to do with #Brexit. See his comment here osf.io/zbgt3/
So what are the problems with this approach.
1) Opinion polls do not rely on the same sampling population, so a lot of time variation that is so crucial given the tight referendum results are well within the margins of error
Read 8 tweets
La #Turchia ha una crisi di debito estero e quindi 3 soluzioni
A) la soluzione #FMI: fare #austerity per frenare i consumi ed abbattere l’import e quindi correggere la bilancia commerciale per recuperare valuta estera con cui ripagare il debito. Ma pagheranno i suoi cittadini
1/3
La #Turchia ha una crisi di debito estero e quindi 3 soluzioni:
B) fare default selettivi e far pagare il conto ai creditori esteri soprattutto le banche europee
2/3
La #Turchia ha una crisi di debito estero e quindi 3 soluzioni:
C) cavalcare la #svalutazione per spingere il proprio #export e recuperare la valuta estera per rimborsare un debito che avrà comunque bisogno di una qualche moratoria
3/3
Read 3 tweets
So the part-privatisation of #probation as originally conceived is over. @benmatthewsed made the foolhardy mistake of asking for my thoughts so going to post a thread...
theguardian.com/society/2018/j…
1/ This was a terrible idea and seemingly every academic and practitioner in probation thought so. The marketisation was meant to use a "Payment by Results" system similar to another of Grayling's Greatest Hits, The Work Programme...
2/ CRC owners would be paid under on the basis of reductions in reconviction (which ≠ reoffending, but anyway...). They started 2 pilots for this 'payment by results' approach (notably at Doncaster prison) but they had poor results and weren't really finished before TR began
Read 27 tweets
So excited to spend my afternoon at the #TransHealthLeeds book launch! First up: what is dysphoria, with Zowie Davy and Michael Toze
"I hope there's not many psychiatrists in the room, because you're going to get bad press today" 😂
Language in trans medicine becomes "a truism without substance" and is used to exert control over trans people and their transition
Read 22 tweets
Parliamo di #moneta. Prima domanda: sapete chi crea la quasi totalità del #denaro in circolazione?
In realtà la maggioranza delle persone, anche nel sondaggio offline, risponde non so. Risposte: lo #stato conia le #monete che solo solo lo 0,3% del valore totale... nel #bilancio #bancadItalia le #banconote sono solo il 8% scarso del totale #massa #monetaria #M2 in #Italia...
...and the winner are... le #banche private con circa il 91% della #moneta #M2 poiché emettono moneta scritturale digitale (a #debito) con un click
Read 13 tweets

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