#mmt — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #mmt, aggregated by home.social.
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Wieso spricht #dirkehnts in #geldundkredit im 9. Kapitel ständig von „Ersparnis“? – Vielleicht überlas ich etwas. Aber eine „Ersparnis“ ist IMHO bilanziell inexistent. Wenn der öffentliche Sektor „erspart“, bringt er kein Geld unter die Leute. Wenn der private Sektor „erspart“, bleibt das BIP unverändert. Wenn der Außenhandel „erspart“, bleibt die Außenhandelsbilanz unverändert. Was übersehe ich? #mmt
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What if I told you that most of what you think you know about money just isn't true?
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What if I told you that most of what you think you know about money just isn't true?
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"Spending creates the money. Taxation removes some of it again. This single reversal, spending before taxation rather than taxation before spending, changes the whole basis on which we should think about public finance."
https://www.taxresearch.org.uk/Blog/2026/07/09/my-view-on-modern-monetary-theory/
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"Spending creates the money. Taxation removes some of it again. This single reversal, spending before taxation rather than taxation before spending, changes the whole basis on which we should think about public finance."
https://www.taxresearch.org.uk/Blog/2026/07/09/my-view-on-modern-monetary-theory/
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”Government #spending is unsustainable!”
”Our models show exponential increase of interest payments and government bankcruptcy in 20 years!”Yeah, but your models are wrong.
They’re are taught in every economic textbook, but are still wrong.
They’re taught in Econ 101, because that serves the very powerful.
With these models, they can always blame the government when something goes wrong.
With these models, the answer to every financial crisis is #austerity
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”Government #spending is unsustainable!”
”Our models show exponential increase of interest payments and government bankcruptcy in 20 years!”Yeah, but your models are wrong.
They’re are taught in every economic textbook, but are still wrong.
They’re taught in Econ 101, because that serves the very powerful.
With these models, they can always blame the government when something goes wrong.
With these models, the answer to every financial crisis is #austerity
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@facebita das ist eine interessante Lesart der #mmt. Wenn es um wertfreie Beschreibung der Funktionsweise moderner Fiatgeldsysteme geht, dann ist dieses Wissen nicht exklusiv für freiheitlich organisierte Staatswesen reserviert. Vielleicht behindert dieser normative Filter sogar eine klare Analyse. Isabella Weber stellt heraus, dass China sich vom Kommunismus zu einem Staatskapitalismus hin entwickelt hat... mit deutlich spürbaren globalen Folgen.
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@heinrichsgeist Nope. Die kommunistischen Rotchinesen haben ganz gewiss nichts von #mmt verstanden. Weil: #mmt ist eine Theorie für eine wertfreie Infrastruktur für individuell agierende Akteure. #mmt steuert so viel Geld in die Gesellschaft ein, wie die Unternehmer in der Gesellschaft in Wertschöpfung umsetzen können. Die Rotchinesen bestimmen hingegen, wer Unternehmer sein darf und wie viel ein Unternehmer wertschöpfen darf. Diametral konträr zu #freiheit
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@facebita Ein Löwenanteil dürfte für Waffen draufgehen. Wenn jemand #mmt verstanden hat, dann ist es eher China: Strategisch planen, schauen was geht (nicht wie hierzulande schauen was nicht geht), die Ausgestaltung Privatunternehmen überlassen...
Der China Schrott wird von Jahr zu Jahr weniger schrottig, das sollte uns zu denken geben. -
Gerüchteweise sieht der Entwurf für den #bundeshaushalt eine Kreditaufnahme von 203 Mrd. Euro vor. Gut so! Klingt fast so, als hätte da jemand #mmt verstanden. Hoffentlich fließt das Geld ins Inland und nicht an Konsumenten, die Schrott aus #Rotchina kaufen. Oder besser noch: Die Politik™ sorgt dafür, dass europäische Produzenten nicht von chinesisch staatssubventionierten Vasallen konkurrenziert werden. Faire #esg Zölle wären eine probate Maßnahme.
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Gerüchteweise sieht der Entwurf für den #bundeshaushalt eine Kreditaufnahme von 203 Mrd. Euro vor. Gut so! Klingt fast so, als hätte da jemand #mmt verstanden. Hoffentlich fließt das Geld ins Inland und nicht an Konsumenten, die Schrott aus #Rotchina kaufen. Oder besser noch: Die Politik™ sorgt dafür, dass europäische Produzenten nicht von chinesisch staatssubventionierten Vasallen konkurrenziert werden. Faire #esg Zölle wären eine probate Maßnahme.
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Not yet crowned; but already in thrall to the financial marketeers...
https://www.theguardian.com/business/2026/jul/03/burnham-funding-gap-uk-finances-pm-in-waiting
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Not yet crowned; but already in thrall to the financial marketeers...
https://www.theguardian.com/business/2026/jul/03/burnham-funding-gap-uk-finances-pm-in-waiting
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July 1
21 min
He's on a spiral. I wish it was different. As one of the leading names in heterodox economics, he has some responsibility for its reputation.
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July 1
21 min
He's on a spiral. I wish it was different. As one of the leading names in heterodox economics, he has some responsibility for its reputation.
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@ScottishGreens What's really irksome is that the UK government - a sovereign government - does not need to take money from other areas to fund this, or any other, sudden expense. As an issuer of its own fiat currency, the UK can, if justified, acquire whatever is necessary for the well-being and security of the United Kingdom.
(The same could apply to an independent Scotland!)"Robbing Peter to pay Paul" is completely unnecessary.
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@ScottishGreens What's really irksome is that the UK government - a sovereign government - does not need to take money from other areas to fund this, or any other, sudden expense. As an issuer of its own fiat currency, the UK can, if justified, acquire whatever is necessary for the well-being and security of the United Kingdom.
(The same could apply to an independent Scotland!)"Robbing Peter to pay Paul" is completely unnecessary.
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Best and clearest explanation of Govt #Bonds that I have ever read, it’s from Prof Richard Murphy’s blog (at taxresearch.org,uk ).
” Governments do not borrow because they need money. The government spends first. In doing so, it creates deposits and reserves within the banking system. Taxation then removes some of that money from circulation in the economy. What is left, the deficit, is simply the money that the government has spent but has not yet taxed back.”
“{…} anyone buying a newly issued gilt or government bond does not provide the government with spending power that it previously lacked. Instead, the purchaser exchanges one government liability for another.”#Economics101 #MMT #GovtBonds #BondMarkets #QuantitativeTightening and #QuantitativeEasing #ReserveBank #CahsRate #BondInterest
My understanding of the above:
A Bond is like the govt giving me an IOU against some of its own currency I exchange for it with a guaranteed repayment in 10 yrs time at set interest. In effect the govt has just removed cash from the economy (fiscal policy) by sequestering it in the IOU (it does this to cool an overheating economy).
I am not allowed to ‘spend’ that IOU, but I can #Trade it for a quick profit (if I can find a buyer). Or, I can use the IOU to secure a loan which I can then spend or invest. Economic activity is thus generated without the govt injecting money (spending) into the economy (it would normally spend to stimulate a flagging economy).
In Australia, Govt bonds are issued by the Reserve Bank (responsible for monetary policy to keep inflation in check and a determined level of unemployment). It can vary the interest rates of these bonds and set the official cash rate to steer the economy where it thinks it ought to be (neo-classical economics here).
So the selling of Govt bonds is not ‘borrowing’ at all just a means to control the amount of cash currency in the economy to keep it bubbling along some predetermined parameters. There is a lot more to this ‘control’ and Murphy addreses it in the article and in the process gives us one of the primary features of the Modern Money Theory (MMT).
I think I have that right. Happy to get corrected.
Read more:
https://www.taxresearch.org.uk/Blog/2026/06/30/what-gary-stevenson-got-wrong-on-bonds/ -
Best and clearest explanation of Govt #Bonds that I have ever read, it’s from Prof Richard Murphy’s blog (at taxresearch.org,uk ).
” Governments do not borrow because they need money. The government spends first. In doing so, it creates deposits and reserves within the banking system. Taxation then removes some of that money from circulation in the economy. What is left, the deficit, is simply the money that the government has spent but has not yet taxed back.”
“{…} anyone buying a newly issued gilt or government bond does not provide the government with spending power that it previously lacked. Instead, the purchaser exchanges one government liability for another.”#Economics101 #MMT #GovtBonds #BondMarkets #QuantitativeTightening and #QuantitativeEasing #ReserveBank #CahsRate #BondInterest
My understanding of the above:
A Bond is like the govt giving me an IOU against some of its own currency I exchange for it with a guaranteed repayment in 10 yrs time at set interest. In effect the govt has just removed cash from the economy (fiscal policy) by sequestering it in the IOU (it does this to cool an overheating economy).
I am not allowed to ‘spend’ that IOU, but I can #Trade it for a quick profit (if I can find a buyer). Or, I can use the IOU to secure a loan which I can then spend or invest. Economic activity is thus generated without the govt injecting money (spending) into the economy (it would normally spend to stimulate a flagging economy).
In Australia, Govt bonds are issued by the Reserve Bank (responsible for monetary policy to keep inflation in check and a determined level of unemployment). It can vary the interest rates of these bonds and set the official cash rate to steer the economy where it thinks it ought to be (neo-classical economics here).
So the selling of Govt bonds is not ‘borrowing’ at all just a means to control the amount of cash currency in the economy to keep it bubbling along some predetermined parameters. There is a lot more to this ‘control’ and Murphy addreses it in the article and in the process gives us one of the primary features of the Modern Money Theory (MMT).
I think I have that right. Happy to get corrected.
Read more:
https://www.taxresearch.org.uk/Blog/2026/06/30/what-gary-stevenson-got-wrong-on-bonds/ -
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Ich bin und sicher bleibe ich auch Mitglied der #fdp. Bei manchen Wahlen erwäge ich allerdings, *beyond fossile* zu wählen. Heute bekam ich von #wolfgangkubicki diesen Brief. Bei zukünftigen Wahlen erwäge ich vielleicht, #mmt zu wählen. Wenn ich den Satz lese, "Es kann nur verteilt werden, was zuvor erwirtschaftet wurde.", frage ich mich: Haben die Unternehmer in der FDP vergessen, dass die Bank ihnen das Geld gibt, **damit** sie etwas erwirtschaften? https://crm.fdp.de/node/5599 #energiewende
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@treleanor The Federal Treasury could erase that at the stroke of a pen, with no bad consequences #MMT
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@treleanor The Federal Treasury could erase that at the stroke of a pen, with no bad consequences #MMT
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Government "deficit spending" is the nation-state creating money (out of thin air) and exchanging it.
For societies that retain for themselves currency #sovereignty, anything that is technically feasible, is affordable: https://heteconomist.com/the-core-significance-of-taxation-and-currency-sovereignty-in-a-nutshell/
#debt #deficit #currency #money #centralBanks #MMT #power #wealth #settlements #transactions #policy #government #politics #economy #policies #climatePolicies #economics #deficitSpending #macroEconomics
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Government "deficit spending" is the nation-state creating money (out of thin air) and exchanging it.
For societies that retain for themselves currency #sovereignty, anything that is technically feasible, is affordable: https://heteconomist.com/the-core-significance-of-taxation-and-currency-sovereignty-in-a-nutshell/
#debt #deficit #currency #money #centralBanks #MMT #power #wealth #settlements #transactions #policy #government #politics #economy #policies #climatePolicies #economics #deficitSpending #macroEconomics
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"A national government is well placed to ensure acceptance of its own #money. […]
"The key to ensuring acceptance of a national currency is in the state’s power to tax. By specifying that taxes and other obligations to the state must be settled in government money, the government creates a need for individuals and businesses to obtain the currency."Peter Cooper (2015). https://heteconomist.com/money-interpreted-as-an-iou/
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"A national government is well placed to ensure acceptance of its own #money. […]
"The key to ensuring acceptance of a national currency is in the state’s power to tax. By specifying that taxes and other obligations to the state must be settled in government money, the government creates a need for individuals and businesses to obtain the currency."Peter Cooper (2015). https://heteconomist.com/money-interpreted-as-an-iou/
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https://www.wacoca.com/life/418714/ アジア債券、5月の海外資金流入急増 3カ月ぶり高水準 | ロイター #ANLINS #ASEAN #asia #ASXPAC #BACT #BIZ #CDM #CEEU #CEN #CN #CORPD #DBT #DEST:NOJPBSM #DEST:NOJPTPM #DEST:NOJPZTM #EASIA #ECI #Eco #EEU #EMEA #EMRG #EUROP #EZC #FRX #FUND #GDP #GEN #GFIN #GRAPHC #GVD #id= #ＩＮ #INFL #INT #investment #JFOR #JLN #KMOVE #MCE #MMT #MTGFX #MTNOT #MUNI #my #PMI #POL #SASIA #SEASIA #SK #TH #TOPCMB #TOPNWS #toshi #TRACC #TRN #投資
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An origin for the household metaphor : https://www.taxresearch.org.uk/Blog/2023/01/15/the-origins-of-the-household-analogy/
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An origin for the household metaphor : https://www.taxresearch.org.uk/Blog/2023/01/15/the-origins-of-the-household-analogy/
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The Goverment-Is-Household metaphor is a ... metaphor to decieve that benefits those in power and who benefit from the status quo: https://www.taxresearch.org.uk/Blog/2026/06/07/the-financial-elite-are-promoting-the-household-analogy-with-a-view-to-deceive/
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The Goverment-Is-Household metaphor is a ... metaphor to decieve that benefits those in power and who benefit from the status quo: https://www.taxresearch.org.uk/Blog/2026/06/07/the-financial-elite-are-promoting-the-household-analogy-with-a-view-to-deceive/
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The #UK cannot (voluntarily) go broke: https://www.taxresearch.org.uk/Blog/2026/06/16/the-uk-cant-go-bust/
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The #UK cannot (voluntarily) go broke: https://www.taxresearch.org.uk/Blog/2026/06/16/the-uk-cant-go-bust/
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The Guardian carrying water for The Boss https://www.theguardian.com/politics/2026/jun/24/walking-a-tightrope-andy-burnham-borrowing-clash-fiscal-realities
"Bond markets don't rule - governments do" https://www.taxresearch.org.uk/Blog/2025/09/08/bond-markets-do-not-rule-governments-do/
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The Guardian carrying water for The Boss https://www.theguardian.com/politics/2026/jun/24/walking-a-tightrope-andy-burnham-borrowing-clash-fiscal-realities
"Bond markets don't rule - governments do" https://www.taxresearch.org.uk/Blog/2025/09/08/bond-markets-do-not-rule-governments-do/
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@keoni I'm simultaneously delighted and appalled. Happy that they've put out some policy that is clear and unambiguous and will make nearly all of us better off in a material sense (and TBH, the 4% who will be paying more tax won't experience hardship either).
What grinds my gears is that this plays into the broken narrative that we need to collect tax in order to have the ability to spend or invest in the public good. Tax needs to be viewed as the pressure relief valve on the engine of the economy, not the fuel. #MMT
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@keoni I'm simultaneously delighted and appalled. Happy that they've put out some policy that is clear and unambiguous and will make nearly all of us better off in a material sense (and TBH, the 4% who will be paying more tax won't experience hardship either).
What grinds my gears is that this plays into the broken narrative that we need to collect tax in order to have the ability to spend or invest in the public good. Tax needs to be viewed as the pressure relief valve on the engine of the economy, not the fuel. #MMT
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@phil_stevens @Antigrav on the same topic as your first point, this seems to provide the antidote, and a different narrative... https://www.youtube.com/watch?v=eLAJEeGGwaU Reckon we need a few more people in Aotearoa to get familiar with it so it can become part of the political discourse. #MMT #ModernMonetaryTheory
h/t to @RichardJMurphy 😉 -
@phil_stevens @Antigrav on the same topic as your first point, this seems to provide the antidote, and a different narrative... https://www.youtube.com/watch?v=eLAJEeGGwaU Reckon we need a few more people in Aotearoa to get familiar with it so it can become part of the political discourse. #MMT #ModernMonetaryTheory
h/t to @RichardJMurphy 😉 -
@undefined_variable well, first, #mmt doesn't work that way.
Money can be created to do anything...maybe not much longer considering how our Biosphere is being ruined, but that's another topic
But I say everyone deserves #ubi ... a salary cap might be a good thing, but high end performance is a rara avis
Without the special needs addressed, the great performers are less capable.
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@undefined_variable well, first, #mmt doesn't work that way.
Money can be created to do anything...maybe not much longer considering how our Biosphere is being ruined, but that's another topic
But I say everyone deserves #ubi ... a salary cap might be a good thing, but high end performance is a rara avis
Without the special needs addressed, the great performers are less capable.
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The #SpaceX IPO is not going to make you rich. It’s going to make you poor.
All that imaginary money it just printed, and all the leverage #debt Wall Street just issued, is going to show up as #inflation
The inflation that private money creation caused is going to outpace any gains your retirement fund will make, and likely a crash will erase those before you retire.
It’s rigged. Deeply with accompanying propaganda. But have no fear, #MMT has an alternative explanation. There is another way!
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@osma What we're seeing here, is actually the money creation that's missing from neoliberal / neoclassical models of #economy.
The theories are still based on a loanable funds model (gold standard), and as such always treat government money creation as a risk of inflation.
But you can't actually have economic #growth without constant money creation. These IPO's and complex leverage schemes fill the gap, economists just treat it as magic, while telling that governments have to "tighten".
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@alecryan I'm all for taxing extreme wealth to protect our democracies, reduce inequality, and manage negative externalities. But it's only an accounting convention to count tax receipts as national income. We don't need to wait for the rich to pay for things; all federal spending creates new money. Conversely, federal taxes simply remove it from circulation.
Since I'm out all day you might just want to ask the interwebs why modern monetary theory (#MMT) says taxes don't fund national spending.
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Canada Post propaganda alert: "Community mailbox conversions are a key element of Canada Post's plan to transform the postal service to meet the evolving needs of Canadians without becoming a recurring burden on taxpayers," Canada Post wrote in a statement." https://www.cbc.ca/news/politics/canada-post-door-to-door-delivery-addresses-june-9.7231990
Federal taxes do not fund federal spending. Management of Canada Post are making this claim to manufacture consent to defund a public service and then privatize it. https://www.mmt.works/mmt-taxes-do-not-fund-government-spending/
Even if you agree with claim that Canada Post 'loses' money, please be honest about its loss being our (Canadians' savings). If the 'real'/'full' cost of a stamp is $1.00, but I pay $0.75, then Canada Post's 'loss' of 25 cents, is my savings of 25 cents.
