Thread by @anlomedad

I'm circling economics like a cat would a venomous snake. This bit ticks one item off the looming list of "To Be Urgently Understood": Modern Money Theory MMT.

€-zone can't use it.
Phew. Should I stop circling and just read @SchickGerhard's new book then? #Econobscene

https://twitter.com/StephanieKelton/status/1300128531700166662

Schick in 2011 on Greens' GND, proposed in 2009 election campaign vimeo.com/31075090 Applicable 1:1 today. Eerie. And Merkel's CDU didn't tackle any of it. Like, fix 1 crisis but amplifying crises 2 and 3? Or insurers don't know where to invest in light of rising inequality?

The 3 crises Schick identifies in the short talk in 2011 are of course
the banking crisis
climate change
rising inequality.
Paraphrasing 'A person today should rather be investing in insulation of his home and a heat pump than wondering whether to buy bonds or company shares'

Stephanie is okay with state debts

But Schick warns about €-zone's mounting state debts due to Covid in context of the, by now failed🇫🇷🇩🇪proposal ? (German).

So he opposes debts and believes borrowed money has to be paid back?

Does he oppose debts bc of the €-zone states' non-sovereignty? Or bc of EU's willy-nilly 3% rule? Or bc of rating agencies, eg Moody's who dictate the value and credit worthiness of nations as if they were working in the interest of peoples' wellbeing while conspiring against it

IMO, if Schick opposes rising state deficits (for whatever reason)
then he can't actually be working toward timely shrinking human activity back into planetary boundaries.
...
Does he WANT to keep World Tyrant Larry Fink, Aladdin and Moody's in power, just a tad less harmful? Oy!

Hmmm... I feel like this debt-thingy makes reading his book a dangerous springboard for hitting the venomous snake #Econobscene. Maybe later.
But I'll have to pick a poison....
Alright then.
Starting with "No Capitalism is No Solution Either".
Next "Repairing the Market Economy"