Activist #MMT 🦉 (podcast), host: @citizensmediatv Profile picture
Welcome to Activist #MMT, a podcast for non-violent, direct MMT activism, and conversations about learning MMT together. Hosted by @citizensmediatv.
Mark Flowerchild #MMT #RealProgressives Profile picture Kookabarra Profile picture 2 added to My Authors
23 Feb
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.👇
👆Saying “we must reduce the ballooning debt and deficit!!” is no different than saying “We gotta stop the federal government from DOING STUFF.” We definitely need the government to do stuff. We just need it to do (way) more good and (way) less bad.👇
Read 8 tweets
17 Feb
#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 – 👇
👆 – as behaving less than perfectly mature while under incredible duress. Whoever uses this term needs to take a step back and look at what caused that “cult-like” behavior, instead of assuming it came out of blue, unprompted.👇
Read 7 tweets
5 Feb
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???)👇
👆People are dying right now. Let's stop screwing around and help them.

Also, means testing to prevent the rich from getting some pittance of a benefit (from their perspective) forces the poor to PROVE they deserve that benefit. Also an inexcusable thing to do in this crisis.👇
Read 6 tweets
4 Feb
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.👇
👆Since #MMT demonstrates that much more spending on public spending is perfectly safe (and desperately needed), the concern is often directed at the MMT project itself.

Here's the full episode with Dirk and Asker.👇 activistmmt.libsyn.com/ep66-1234-dirk…
Read 9 tweets
17 Dec 20
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.👇
👆Here's the full interview with Jim. This is part two of a two-part conversation.👇 activistmmt.libsyn.com/ep-59-22-jim-k…
Read 7 tweets
17 Dec 20
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.👇
👆Giving a physicality to federal money it is plainly incorrect and highly misleading. Physical money is only created (actually, literally printed or minted) in response to citizens explicitly requesting it from a bank teller or ATM. Before that point, it's purely electronic.👇
Read 16 tweets
6 Jul 20
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.”👇
👆According to Wikipedia:👇
Read 12 tweets
16 May 20
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.
3/ The fact that more than 90% of money in the economy is created from banks is (A) a bad thing that the government could change (by regulating or providing more for its people) but doesn’t and (B) does not provide anyone wealth.
Read 4 tweets
2 May 20
2/ A one-pager by economists L. Randall Wray and Yeva Nersisyan
levyinstitute.org/pubs/op_62.pdf
3/ Economist Pavlina Tcherneva (@ptcherneva)'s recommended response to the #coronavirus health crisis: project-syndicate.org/commentary/cor…
Read 14 tweets
28 Apr 20
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/
4. because hardly anyone understands what inflation really is. 3/
Read 5 tweets
31 Mar 20
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.
3/ Also: Along with @MMTpodcast, @CheseMacro, & #MMT Mondays: on April 14th, #MMT-ers march online. On April 22nd, to mark the 50th anniv. of Earth Day, MMT-ers come together with environmental activists & groups to #EARTHRISE. You can find out more at earthrise2020.org
Read 6 tweets
1 Mar 20
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.
3/ No one should have been burdened with that debt to begin with. No one should have had to spend a decade paying off their loans instead of DOING WHAT THEY EDUCATED TO DO.

You shouldn’t have had to pay for wanting to be better.
Read 8 tweets