The underlying assumptions that DSGE makes are so blatantly ridiculous; so utterly preposterous, that no individual who possesses a sanitary mind would accept them as reasonable.

(Very Short Thread) But, confront the general public with the maths, and suddenly those wild assumptions get lost in a fog of utter confusion and intense boredom.

Briefly, Concerning Inflation and “Money”

If we are going to talk about inflation from government spending, then we are talking about a specific type of inflation called, “Demand-Pull” inflation. First, this nonsense about “money”.

(Short Thread) “Money”, in and of itself, and increasing the “net money supply” does not cause inflation. If the government spent $83 trillion today, but that $83 trillion sat in an account unspent, that $83 trillion could not and would not be inflationary.

Key Points to Understand Regarding Valid Macroeconomics

I. Foundations:

- The United Kingdom is a nation.

- A nation is comprised of all citizens and real resources within the borders of the nation with a supreme govt that was established by society at the head.

(Thred) - The real resources are the property of the nation.

- The UK govt is the currency-issuing and regulatory authority of the nation called the United Kingdom.

@TIMGOLDFINCH @Will6And7Ric @PatriciaNPino @DianeJamesMEP @Devo_Too @widespreadhaze @FawkeEU @Ezquid @jbhearn @Petercookwahook @PDWriter @katiecannon2 @SerbanVCEnache @sarahollando552 @ProfSteveKeen @BobbySizzler @Gravity_v20 @netbacker @J_MoAGoGo @HetdoxEconomics @consbyname @DeficitOwls @paulallchorne @ProfessorWerner @OzMyHomeMAC @OnlyindreamsFCO @homoaequalitas @Seanski_McG @tonywestonuk @scientificecon @MenudoTyBucket @nmf77 @Jorge_Econopata @yungneocon @Hugorelly @akoster @sdgrumbine @jryancollins @billy_blog Ok, in the interests of those who are new with minimal to no background and who are following along or replying to John and Tim’s nonsense, I am going to make some operational realities clear. It will take a few tweets. 1/? @TIMGOLDFINCH @Will6And7Ric @PatriciaNPino @DianeJamesMEP @Devo_Too @widespreadhaze @FawkeEU @Ezquid @jbhearn @Petercookwahook @PDWriter @katiecannon2 @SerbanVCEnache @sarahollando552 @ProfSteveKeen @BobbySizzler @Gravity_v20 @netbacker @J_MoAGoGo @HetdoxEconomics @consbyname @DeficitOwls @paulallchorne @ProfessorWerner @OzMyHomeMAC @OnlyindreamsFCO @homoaequalitas @Seanski_McG @tonywestonuk @scientificecon @MenudoTyBucket @nmf77 @Jorge_Econopata @yungneocon @Hugorelly @akoster @sdgrumbine @jryancollins @billy_blog Tim is formulating arguments based on his ideology and not from a perspective of reality. In other words, he’s telling you how he would prefer money and the macroeconomy to work, not how it actually works. 2/?