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Activist #MMT, the podcast. Host: Jeff Epstein Profile picture
Activist #MMT, the podcast. Host: Jeff Epstein
@ActivistMMT
A podcast about real-world economics, and how life changes once you discover it. Host: @citizensmediatv Resources: https://t.co/mHDdkdgZpr
2 subscribers
Aug 21, 2022 • 12 tweets • 3 min read
How about we fix both the symptom AND the disease?

1. Cancel all student debt.
2. Make future student debt an impossibility by making all education free (for all citizens, student or not) Free education will also prevent price gouging by universities, since something that has no price can’t have its prices raised. The national government would also be a monopsony, so they could easily stand up to bad behavior by universities.
Aug 21, 2022 • 8 tweets • 2 min read
You are conflating politics with economic theory.

Theory is about determining the possibilities. Only then can you consider political and human realities. #MMT's descriptive element is purely the former. WHY exactly, is "inflation out of control" in medical costs? Because pharmeceutical companies are completely unregulated and can price gouge.
Aug 21, 2022 • 13 tweets • 7 min read
Welcome to episode 130 of Activist #MMT. Today's the final part of a six-part series with @John_T_Harvey. It's also the first guest-hosted (main) episode of Activist #MMT, with Jonathan Wilson (@deficitowl24601). Here's a brief highlight, with thanks to @headlinervideo.👇 👆Here's the full episode:

"Ep132[3/3,6/6] John Harvey on exchange rates and neoclassicism [guest host: Johnathan Wilson]"👇 activistmmt.libsyn.com/ep1323366-john…
Aug 21, 2022 • 14 tweets • 7 min read
“There is no one working in finance that can look at MMT and see any rational aspect [that doesn’t] bite the dust”

A 🧵 demonstrating some of the finance people I’m aware of who embrace (or seriously consider) #MMT in reality. (I’m told there are many more) First, #MMT largely originated from the ideas of trader and former bank owner, Warren Mosler (@wbmodler). He made a killing when *he* informed officials in the Italian government that voluntary default was an impossibility.

From investopedia.com/modern-monetar…
Aug 20, 2022 • 32 tweets • 6 min read
It’s impossible for the US to voluntarily default in its own money.

Since the national government can only spend by creating more, it logically can’t "borrow" in the personal sense of that term. So what is it?

So what is it?

A long 🧵. Since the national government can only spend by creating more…
Jul 25, 2022 • 14 tweets • 7 min read
Welcome to episode 128 of Activist #MMT. Today I talk with Dirk Ehnts (@DEhnts), about his personal journey to MMT, which happened only after obtaining a PhD in mainstream economics. Here's a brief highlight, with thanks to @headlinervideo.👇 👆Here's the full episode:

"Ep128 [1/3]: Dirk Ehnts: From mainstream to #MMT"👇
activistmmt.libsyn.com/ep12812-dirk-e…
May 29, 2022 • 9 tweets • 5 min read
Welcome to episode 120 of Activist #MMT. Today I talk with @StevenHailAus, about the new and unprecedented graduate program in economics of sustainability, mixing #MMT and ecological economics.

"Rather than accept it, we decided to do something about it."👇 👆The program, which starts in September 2022, will be run by @TorrensUni-versity, is backed by @modernmoneylab, and is primarily developed by Steven, and Australia's leading ecological economist, Phil Lawn.

Here's the full episode:👇 activistmmt.libsyn.com/ep12012-steven…
Aug 29, 2021 • 11 tweets • 3 min read
🧵 regarding concerns about the #MMT-JG.

I read both. Based on these two articles, it seems to suggest that you believe the MMT-JG can only make things worse because it will exacerbate the negative aspects of our terrible extractive and predatory capitalist economic system. The one article says we should instead "grant people the freedom and grace to pursue non-economic means of living". How exactly do you propose giving people a non-economic means of living in a society where the government’s money is a critical ingredient for day-to-day survival?
Feb 23, 2021 • 8 tweets • 3 min read
We is us. The entirety of the United States. The problem is not that the national debt exists. The problem is that the elite have stolen almost all of it.

A 🧵.👇 👆The solution is not to “reduce the ballooning national debt” but rather to take what the elite have stolen, and prevent them from ever stealing it again. In other words, we need to address wealth AND income inequality.👇
Feb 17, 2021 • 7 tweets • 2 min read
“#MMT-ers sometimes come across a bit ‘cult-like.’ "

I think the cult word is disgusting. A 🧵

<soapbox>
👇 👆I think the cult word is disgusting. There’s no possible positive justification for it. It’s nothing more than a way to dismiss and diminish the disadvantaged and discriminated against – the minority of the minority, who are desperately treading water in order to not drown – 👇
Feb 5, 2021 • 6 tweets • 1 min read
Fighting to prevent the rich from getting what should be a universal benefit kills poor people. A 🧵.👇 👆Delaying checks in order to ensure the rich don't get them causes orders of magnitude more death and suffering for the poor, than in preventing the further luxury of the rich. (Do you really think billionaires would celebrate were a $2k check to arrive in their mailbox???)👇
Feb 4, 2021 • 9 tweets • 6 min read
Welcome to ep 66 of Activist #MMT. Today I talk with @DEhnts & @AskerVoldsgaard about their 2020 paper responding to a 2019 mainstream paper expressing the concern for the long-term fiscal sustainability of gov't spending & its corresponding debt & interest. A brief highlight.👇 Welcome to ep 66 of Activist #MMT. Today I talk with @DEhnts & @AskerVoldsgaard about their 2020 paper responding to a 2019 mainstream paper expressing the concern for the long-term fiscal sustainability of gov't spending & its corresponding debt & interest. A brief highlight.👇
Dec 17, 2020 • 7 tweets • 4 min read
Welcome to ep 59 of Activist #MMT. Today's part 2 of my 2pt-conversation with Marxist academic, blogger, & MMTer, Jim Kavanagh (@ThePolemicist_). Jim talks more about how MMT is necessary but not sufficient for Marxism. Here's a brief highlight:👇 👆Jim has taught at Princeton, Carnegie Mellon, and Wesleyan Universities. He was also a regular guest on the internet radio show Loud and Clear with @BrianBeckerDC and @JohnKiriakou. He is currently an author at @NatCounterPunch and editor at The Polemicist.👇
Dec 17, 2020 • 16 tweets • 6 min read
First, the federal government doesn't "print money." It issues currency. It does this by making accounting entries bigger and, when it collects revenue via taxation/bond sales, it reduces those same numbers. It "expands and contracts balance sheets."👇 👆This is how all federal revenue and spending works, and has always worked, since the first dollar was issued around 222 years ago. This is the case regarding funding laws, purchasing and selling gov't securities, QE, and etc. There are no exceptions.👇
Jul 6, 2020 • 12 tweets • 3 min read
Thread.

I’m reading @John_T_Harvey’s 2016 “An Introduction to PK Economics: Involuntary Unemployment With Perfectly Flexible Wages & Prices” (researchgate.net/publication/30…).

I found this page, especially the graph & the final para referring to it, particularly challenging.👇 👆Here’s the (full) final paragraph in the above page-screenshot.

It says “the real wage” is equal to both "the marginal product of labor" and "the marginal disutility of work” and that “None of this is the least bit controversial, and Keynes does not take issue with either.”👇
May 16, 2020 • 4 tweets • 1 min read
1/ Banks create the vast majority of money in the economy, but it‘s credit, not currency. Currency doesn’t have to be paid back. Most receive it as a paycheck for doing labor. 2/ Bank credit Is in the form of credit cards or loans, and must be paid back 100% plus interest. Once paid back, it disappears.
May 2, 2020 • 14 tweets • 9 min read
1/ What is #MMT's recommended response to #coronavirus?

[#LearnMMT thread v 1] 2/ A one-pager by economists L. Randall Wray and Yeva Nersisyan
levyinstitute.org/pubs/op_62.pdf
Apr 28, 2020 • 5 tweets • 1 min read
1. The term full employment has been badly distorted.
2. The measurement of *current* unemployment has also been distorted.

So, not only can those in power draw the finish line, they can also lengthen or put obstacles on the path required to reach it. 1/ 3. They also propagandize so people don't even know which direction to go.

Further, the Fed's mandate of maximum employment is, roughly, "to keep as many employed as possible, as long as it doesn't trigger inflation." So now it's quadruply meaningless 2/
Mar 31, 2020 • 6 tweets • 4 min read
1/ Welcome to ep 21 of Activist #MMT. This is actually pt *TWO* of my intvw with millennial & 1J Ryan Mathis. In pt 2 we compare Marx's labor theory of value to MMT's state theory of money. He then shatters the myth that "natural" laws govern our society. activistmmt.libsyn.com/ep-21-ryan-mat… 2/ This is a special two part interview where part one is being released simultaneously on @historic_ly. In part one, Ryan and I talk about his plan for recreating our corrupt political, media, and educational institutions.
Mar 1, 2020 • 8 tweets • 2 min read
1/ “Forgiving student debt is fundamentally unfair to those who played by the rules and paid back their loans.”

"Fundamentally unfair":

- Curing cancer is not unfair to those who died from cancer. No one should have ever had cancer. 2/ - Ending slavery is not unfair to those who were enslaved. No one should have ever been a slave to begin with.
- Canceling college debt and providing free education is not unfair to those who had to pay for school and were burdened by school debt.