#MMT Founder @RealProgressUS , @RP_In_Action Host of @Cheesemacro and The Rogue Scholar https://t.co/OU1xmHoDCX
6 added to My Authors
May 20 • 4 tweets • 1 min read
In a time of unprecedented economic despair, a politician must Absolutely, Unequivocally know how Federal Finance works to save lives. No more Economically illiterate candidates.
We literally cannot afford it.
If we call it manslaughter or murder when we run over people with a car by accident or on purpose respectively, what is it called when you push for cuts to Federal Spending and kill thousands from austerity?
Manslaughter for the ignorant?
May 18 • 6 tweets • 2 min read
For anyone who thinks MMT (Modern Monetary Theory) is a subject that can be put off or ignored.
1. Because of that mindset we do not have healthcare in the USA. 2. Children, families and the elderly are burdened with 1.9 trillion in student debt 1/x 3. We do not have relief payments to families in the midst of a pandemic. No nationalized Payroll. No job guarantee. 4. Families are breaking up over Economic insecurity 5. We have no right by law to an education
May 14 • 5 tweets • 2 min read
I have come to the terrifying conclusion that you have to break a few eggs to make an omelet. This is particularly true if you are a project - oriented person. 4 years ago, the IPCC gave us 12 years. We are down to 8 years and things have only gotten worse. Still so few talk #MMT
Honestly, once you make the decision... once you accept the science... climate catastrophe could lead to yet another mass extinction. We are not educating the world fast enough that we can afford to survive. Too many deniers of both climate crisis & #MMT to counter rampant idiocy
May 7 • 35 tweets • 5 min read
I saw a disturbing comment from someone I don't believe I ever interacted with in my life. Their comment moved me so much I believe I am going to write a series of articles about it.
Let me start with the following:
1/x1. For 40 plus years, the neoliberal era has reigned.
During that time, people have had little by way of resistance from the lies, deceit and self imposed prisons of ineffectual domestic governance and austerity.
Apr 20 • 10 tweets • 2 min read
So the plan is always to privatize as much as possible all in the name of creating markets.
This is neoliberalism.
It can only thrive based on lies.
Based on the idea that the government is broke, in debt to foreign nations or conspiracies like the Rothschilds etc.
It can only thrive as long as you believe that your "hard earned tax dollar" is paying for someone's bad decisions.
They can make the case repeatedly that we cannot afford to do nice things.
Apr 2 • 10 tweets • 2 min read
MMT is an accurate description of How our underlying operational realities work today.
So to deny how that is presents a barrier to progressive programs and services.
So... yes.... if you are blocking the knowledge of how to get a progressive agenda accomplished TODAY you have placed unnecessary blockers in front of saving lives.
Mar 17 • 5 tweets • 1 min read
The pandemic of neoliberalism continues to take more lives than any of us seem prepared to accept.
More than wars.
More than viruses.
And media/party propaganda keeps it going and we are the carriers of the disease...
Every single time we asks the Federal Government "How ya gonna pay for it?" Someone dies for that lie.
Mar 16 • 9 tweets • 4 min read
Malta: currency issuer. Malta with a central bank. Malta has the Maltese Lira.
The NHS run by Currency issuing UK with the Bank of England as the currency issuer.
Washington State: Currency user. Cannot issue it's own currency.
Someone isn't talking MMT.
If this isn't a base case that is being ignored... Nothing else is. Read this short, simple to understand PDF by Randall Wray at the Levy Institute of Bard College. Let me know when to break out the white out... The red lining of this document...
Have you ever sat back and wondered why we never see actual progressive policies enacted? Have you ever wondered why we always get stuck at "how are you gonna pay for it?"
Yeah... me too...
That led me to this... and it is the fact...
Our nation is monetarily sovereign... a state currency issuer... the currency is free floating as in not pegged or tied to another currency or commodity like "petrodollars" or "banana dollars" or gold, chicken necks or frog legs.
Feb 25 • 10 tweets • 2 min read
I think that we need to start having incredibly detailed discussions on resourcing. Not just the currency issuer can afford any debt payable in it's own currency.
I think we need to begin seriously considering the dependencies in devising proper legislation. We are always talking about the threshold is not monetary... It is a real resource constraint.
Feb 23 • 14 tweets • 4 min read
Let's be fair... I can boil the #MMT pushback down to a couple demographics and their baked in need for MMT to be wrong regardless of facts. Let's go...
Academics: when online activists can destroy 50 years of economic malfeasance your work pushed forward in the academy and the journals and in the Ivory Tower... Excuse me... Your class is showing.
Feb 20 • 4 tweets • 1 min read
Government spends money into existence. It doesn't print money onto pallates to be stored in commercial banks where the Federal Government applies for loans.
It literally spends it into existence. So no "printing money" and then it deletes it from electronic ledgers when it comes in as a tax. Those taxes literally never are reused or ever a funding mechanism for new programs. Deleted. Destroyed. Pushed into oblivion.
Feb 9 • 8 tweets • 2 min read
If you see someone talking about petrodollars... and they aren't just pulling your leg... and they are really serious and say really dark gloomy things... 1/x
Imagine going to Chuck E Cheese... and they only use Chuckbucks to pay for games, and all you have is US dollars... is that a crisis??? Uh .. no?
So why would agreeing to use dollars for transactions of oil mean anything either?
Jan 29 • 10 tweets • 2 min read
Neoliberalism is the art of privatization, globalization and financialization of economies.
The push to private credit vs state spending allows the Wall Streets of the world & massive multinational corporations to suck the GDP out of the hands of the people...
Jan 14 • 21 tweets • 3 min read
Our Federal Government doesn't need revenue. Taxes serve as a gas pedal or brake for an economy. They drive the need for currency. They stave off inflation and can be used to break up pooled concentrations of wealth that are destructive to a functioning democracy and economy.
So what's the fuss about marginal income tax rates and "fair share"? Why the chatter about how will the government get money to fund its operations?
Jan 8 • 7 tweets • 2 min read
I am 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.
Jan 3 • 23 tweets • 4 min read
There is something that's been eating me inside and out and I have not been able to articulate this until now, but I am gonna try because I think it is very important. At least to me it is. The sickness of our neoliberal world impacts both the middle class and the poor.
When you see generational poverty, it is easy to see it outright. It's extreme. It's often hopeless to the individual. It's bleak and the political space uses poverty as a political tool. One for explaining "bad choices" and one that exploits it as "immoral". But it's a veneer.
Jan 2 • 5 tweets • 1 min read
I worry that folks boil class down to simply dollars and cents & not about access, privilege, snobbery & condescension. Class is a much bigger deal that involves access & precarity. Not financial precarity alone, but access to circles & opportunities. In particular opportunities.
People born on third base thinking they hit a triple and all the underlying assumptions & elitism that goes with it... The lottery of birth & the blessings from the Ivory Tower that allow some to be absolute assholes yet simultaneously get away with it because of that privilege.
Jan 2 • 4 tweets • 2 min read
FYI lockdowns only hurt the people economically becuz people believe the government is broke & the Neoliberal assholes in office allowed that ignorance to be a rally cry. When you know what could be done to make people whole & still keep the vulnerable safe, it changes everything
Here is an explanation
Follow @ptcherneva realprogressives.org/podcast_episod…
Jan 2 • 10 tweets • 2 min read
Psst Federal Programs are absolutely NEVER paid for with tax dollars. All government spending is newly created money. Every single time. Not something someday.. happening at this moment and always.
In fact your tax dollars come from the Federal Government. Just like concert tickets are not required to fund the concert but they are for redemption. And just like the concert hall doesn't need those stubs to fund new concerts...
Get it? #MMT
Dec 31, 2021 • 10 tweets • 3 min read
Modern Monetary Theory is a description of macroeconomic operations. Like the manual. It describes what happens when various levers are pulled. There is not country "doing MMT" because MMT describes the good and the bad of a modern money economy. 1/x
If a country adds extra rules that serve no purpose but they do it anyways that doesn't change a thing. They have created a self imposed rule or ritual. It impacts results sure... But it is both unecessary and often stupid and unproductive.