The quicker people GET rock solid with the knowledge that our nation creates currency EVERY SINGLE TIME IT SPENDS INTO EXISTENCE and deletes money EVERY SINGLE TIME IT TAXES (FEDERAL) the sooner we can start to create energy for demands. 1/x
Don't ever say *If we just cut the military we could AFFORD XYZ* It's a lie. We can afford it whether we "blow the budget" w/ military spending. We can afford Healthcare. We have nothing but resources to constrain those investments. A lack of knowledge.
Interest rates? Who cares? The US Gov doesn't finance spending.

It creates money

EVERY SINGLE TIME IT SPENDS. GET IT?
I am desperate to see the lights go on because once we get past this we will begin to have meaningful debates about what our nation's priorities are and we will stop hating our neighbor seeing if they are wasting you "hard earned tax dollars" that are fucking deleted not reused.

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More from @sdgrumbine

10 Jan
I had never heard of a man named Ferdinand Pecora before I had met the likes of the legendary William K Black who is the foremost expert in bank control fraud. But Bill was adamant that we learn about Ferdinand Pecora who had apparently brought the banksters to their knees 1/x
I was then introduced to @PatrickLovell1 and his brilliant partner Eric Vaughan who reemphasized the need for a modern day Pecora hearing. m.imdb.com/name/nm1144162/
I started to dig in. These guys Eric, @PatrickLovell1 and Bill had created a docuseries called "The Con" and it broke the story of the housing collapse and the fraud that fueled it from the GFC in 2007-2009 and beyond.
Read 13 tweets
8 Jan
Modern Monetary Theory is a framework to assess the Macro economy. It doesn't impose socialism or capitalism nor does it address issues of class or racial struggle. But what it does do is show that if you support sys of oppression, you can't hide behind "how ya gonna pay for it"?
Knowing this, as socialists or people seeking a new future with systems of Equality baked into the firmament, we know all things are possible and our desires for a society that cares for one another is achievable financially, it just requires political will, organization & votes.
But alas... This depends on a functioning democracy, trust worthy primary and general elections and the US has one of the most corrupt primary systems in the world and sociopathic defenders of their political party. Such an unworthy position for a human being to hold to.
Read 7 tweets
8 Jan
I am beyond skeptical that we can reform or vote our way to Equality or even significantly improve the material conditions of the working class because our system makes dissemination of meaningful information too challenging.
Especially given the narratives that make up social media "big deals" (largely activist Westside Story) and our ability to do more than randomly rage. We are unable to effectively communicate and plan. We are clique-y and often so cynical deeper truths are elusive. Fake wins.
The question of reform or revolt has never been more valid to ask... What is it that we would need to do either?
Read 6 tweets
2 Jan
To tax or not to tax... that is not the question.

Thread 1/x
The issue is not whether the rich should be taxed more... of course they should... for a host of reasons from income and wealth inequality to access to scarce real resources that should serve the public and to mitigate their influence within the public sphere.
But the real question is why do folks attach tax wars to programs that save lives? Like #M4All or #CancelStudentDebt. It is allowing people to die fighting a tax war to pay for life saving progs when taxes dont fund those progs at all. I call those who do that murderers by proxy.
Read 6 tweets
30 Dec 20
Once you understand the Deficit Myth & you stop trying to avoid #MMT You will see the selfishness that passes for prudent logic as the murderous ignorance it is... "bbut I don't want my taxes going to pay for xyz". Some WILL have pity on them remembering they once were lost too
But that doesn't change anything for the homeless people dying from exposure unnecessarily or suicides from overwhelming private debt brought on by predatory lending, student loans and medical necessity...
You have to balance the lives of the dying with the unwitting henchmen and with their selfrighteous anger over "wasting tax payer dollars" ...
Read 5 tweets
25 Dec 20
Pretend you understand #MMT (Modern Monetary Theory) and look down at your child, knowing we have less than 12 years to substantively reduce our carbon footprint massively to stave off some of the more deleterious effects of climate change heading towards us.
1/x
You know that Congress and other sovereign currency issuing nations can simply spend what must be spent to save us all from disaster. (Same with Healthcare and education amongst a host of basic needs left unmet)
Now... pretend that the major parties are both corrupt and 3rd parties are steeped in economic illiteracy that edges up on at worst criminal negligence and the very least incompetence.

What do you do?

Now stop pretending.

That is what we are facing today.
Read 7 tweets

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