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Citizens' Media TV 🦉🌹
@citizensmediatv
, 22 tweets, 13 min read Read on Twitter
1/ *Many* resources for getting started with #MMT.

[#LearnMMT THREAD v.2.01]

In a sentence: MMT is non-fiction macroeconomics.
2/ Here is an excellent single article explainer of #MMT by @StevenHailAus, economist and lecturer in Economics, University of Adelaide: theconversation.com/explainer-what… #LearnMMT
3/ Here is an excellent single article explainer of #MMT by @John_T_Harvey, professor of Economics at Texas Christian University (@TCU): forbes.com/sites/johnthar… #LearnMMT
4/ Here is a list of many #MMT people, places, and resources to help you #LearnMMT. Herein lie many friendly and knowledgeable people who will guide you well and happily answer your questions.
5/ When you're ready for a deep dive into #MMT, here are many repositories of research and scholarship: #LearnMMT
6/ My #MMT elevator pitch, for those who want to be intrigued and inspired about MMT, but don't have time to listen to a full lesson: #LearnMMT
7/ #MMT core concept: First and foremost: All federal spending is, and has always been, paid for with created currency. This insight has enormous and profound implications on our society and the world. #LearnMMT
8/ #MMT core concept: What is money? What gives money value? #LearnMMT
9/ #MMT core concept: Where does money come from?

1. Who actually creates it?, and
2. Who authorizes its creation? #LearnMMT
10/ #MMT core concept: Reserve accounting. #LearnMMT
11/ #MMT core concept: Since all federal spending is paid for with created currency, then why do we pay federal taxes at all? #LearnMMT
12/ The MMT view of taxing the rich: #LearnMMT
13/ #MMT core concept: The federal government creates "debt-free" (high powered) money. Banks also create money. They're franchised by the gov't, but when you receive it, you are instantly in debt for 100% plus interest. It is "private debt." #LearnMMT
14/ #MMT core concept: What is the federal deficit, *really*? #LearnMMT
15/ #MMT core concept: The Federal Job Guarantee (FJG) is a core part of MMT and is the most important & impactful policy recommended by it. The FJG is a beautiful & elegant piece of policy that alleviates the absolute scourge of involuntary unemployment:
16/ Here is the conclusion to my #MMT-101 lesson. This is a sort of continuation to the above elevator pitch. #LearnMMT
17/ #MMT is powerful because it lays neoliberalism & mainstream economics bare. MMT demonstrates our federal governments can easily provide all their people what they need or NOT DIE, suffer, go bankrupt, or be unemployed. So why don’t they? The answer is, “It would empower us.”
18/18 #LearnMMT
Creating money does not inherently “devalue the currency” or create inflation.
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More from @citizensmediatv see all

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Citizens' Media TV 🦉🌹
@citizensmediatv
1/ We must tax the rich, but it is **not possible** to use their money to “pay for” federal programs.

[#LearnMMT THREAD]

All federal spending is and has always been financed with created currency.
2/ This is true because of the realities of reserve accounting.
3/ Specifically, this is confirmed by research by @StephanieKelton. (Notice it says, "After carefully considering the complexities of reserve accounting...")
Read 9 tweets
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Citizens' Media TV 🦉🌹
@citizensmediatv
"Inflation the Boogeyman"

versus

Inflation in reality

[#LearnMMT THREAD v1]

WARNING: Just by **reading this thread** you (yes you) are causing a tidal wave of inflation that no plumber can ever fix.

Good job. 👍
2/ Those who do not understand #MMT, or do not want you to understand MMT, will say things like:

"Creating money causes inflation. Creating it beyond that causes hyperinflation."

So, creating one dollar 👉Inflation!

Daring to create that second dollar 👉 **hYpERinFlATiOn**!!!
3/ The idea that

“Creating money causes inflation."

is as ridiculous as saying

“Birth causes crime."

I mean, all criminals are born, amiright?
Read 23 tweets
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Citizens' Media TV 🦉🌹
@citizensmediatv
1/ Currency users are constrained by the money in their bank accounts. Currency issuers are constrained by their domestic supply of real resources*.

Issuers also set the BOUNDARIES of constraints for its users. If they want their citizens to be constrained more, they spend less.
2/
(*raw materials, labor, technology, and time)

The more citizens are constrained, the more they are dependent on the whims and BEGRUDGING GENEROSITY of the privileged few – those who happen to be sitting on an (effectively) infinite stockpile of money.
3/ When a currency issuer spends less, it is their way of stepping aside to allow the wealthy few to *become* the government for those severely limited by money. A desperation that THEY CAUSED, by withholding their ABUNDANCE of resources from the people.
Read 7 tweets

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homunculus
@homunculus_mefi
(Thread) Here's an excellent @TheSideViewCo article on how secular mindfulness meditation in the West evolved out of Buddhist meditation traditions: "Deconstructing Mindfulness: Embracing a Complex Simplicity." @bodhidave3 also discusses the states of absorption called the jhānas
This piece by @BradWarner, who describes Buddhism as "a meditation system with 2,500 years of research and development across multiple cultures and eras," complements the first one well: "Mindfulness Meditation is Buddhist Meditation" hardcorezen.info/mindfulness-me…
For more on the jhanas, which haven't taught widely in the West, check out this @tricyclemag interview with meditation teacher Leigh Brasington: "A Mind Pure, Concentrated, and Bright" tricycle.org/magazine/mind-…
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Christian Reilly
@christreilly
Just want to say thanks to a few people for helping me understand macroeconomics and teaching me #MMT , and I need to start with @StevenHailAus - a great communicator who has always been there to answer questions personally and in depth. Thanks, Steven!
Also joint top of the list is @sdgrumbine and @elliswinningham - unrelenting energy, courage, passion and outspokenness. Guys, thanks for teaching me #MMT and making it 🤘
Now I’m onto thanking people who probably don’t know they taught me #MMT: of course @wbmosler (thanks for 7 Deadly Innocent Frauds, and the “guy with the gun” - that was my lightbulb moment!)
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The Real Progressive #MMT
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Macroeconomics never really mattered to me in either grad school program I completed because I truly thought the US Government had to borrow money from private banks & that the economy was dependent on the private sector. Then I was able to #LearnMMT & now I know its on Congress!
It all came together once I learned the very basic foundational truth that there are currency issuers and currency users. #LearnMMT
That the currency issuer could never go broke on debt denominated in it's own currency... unless their was a commodity peg (like gold) with convertibility associated with it. #LearnMMT
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Pravesh Bhardwaj
@AuteurPravesh
10 Stories that I enjoyed reading the most in 2017....
#Fiction #Longreads via @Longreads

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