#mmt — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #mmt, aggregated by home.social.
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Trump's war on Iran proves #MMT is correct.
We have confused #money with resources, because everything seems universally available.
But this is not actually correct. Resources limit #economies, not money. Money can always be created, and #inflation occurs if you try to spend beyond resource availability.
The price goes up because you're creating more money (#debt) that can be allocated.
https://www.youtube.com/watch?v=zV0srvwdsqI
PS. #SpaceX ipo value is also inflation, and so is the #AIBubble
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Trump's war on Iran proves #MMT is correct.
We have confused #money with resources, because everything seems universally available.
But this is not actually correct. Resources limit #economies, not money. Money can always be created, and #inflation occurs if you try to spend beyond resource availability.
The price goes up because you're creating more money (#debt) that can be allocated.
https://www.youtube.com/watch?v=zV0srvwdsqI
PS. #SpaceX ipo value is also inflation, and so is the #AIBubble
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@kattascha Genau **das** ist der Punkt: Geld und private Macht zu entkoppeln. Das gelänge mit #mmt. Und es gelänge auch, wenn die Europäer willens wären, europäische #fiskalpolitik zu betreiben. Leider ist derzeit der #euro ein Konstrukt, das private Partikularinteressen stärkt, während es die europäischen Staaten schwächt und zu allem Ungemach auch noch das genaue Gegenteil davon über sich behaupten lässt.
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@kattascha Genau **das** ist der Punkt: Geld und private Macht zu entkoppeln. Das gelänge mit #mmt. Und es gelänge auch, wenn die Europäer willens wären, europäische #fiskalpolitik zu betreiben. Leider ist derzeit der #euro ein Konstrukt, das private Partikularinteressen stärkt, während es die europäischen Staaten schwächt und zu allem Ungemach auch noch das genaue Gegenteil davon über sich behaupten lässt.
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The bill is paid by the government creating money. #MMT
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The bill is paid by the government creating money. #MMT
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Die Abbildung 11.1 auf Seite 225 in #dirkehnts #geldundkredit 4. Auflage offenbart IMHO den Denkfehler des Autors bzgl. „Ersparnis“: Es fehlt der vierte Akteur, nämlich die „Wirtschaftspolitik/Industriepolitik“ mit den privaten Geschäftsbanken. Die Geschäftsbanken vereinnahmen die „Ersparnis“ von den Unternehmen und den privaten Haushalten und vergeben sie als Investitionen (Kredite), und über die Geschäftsbanken laufen die Exporte sowie die Importe. #mmt
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@samlitzinger
You don't need a universal healthcare expert but an #economics expert. The problem is the "How are you going to pay for it?" framing. Congress never considers pay-go wrt defense spending. The idea that federal budgets should be balanced & debt needs to be paid off is flawed. See #MMT (modern money theory).I won't link to X but on 3/14/26 MMT founder Warren Mosler replied to Ro Khanna:
Medicare for all is
HIGHLY DEFLATIONARY! [x3]YOU DON'T RAISE TAXES WHEN THIS HAPPENS!!!
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@samlitzinger
You don't need a universal healthcare expert but an #economics expert. The problem is the "How are you going to pay for it?" framing. Congress never considers pay-go wrt defense spending. The idea that federal budgets should be balanced & debt needs to be paid off is flawed. See #MMT (modern money theory).I won't link to X but on 3/14/26 MMT founder Warren Mosler replied to Ro Khanna:
Medicare for all is
HIGHLY DEFLATIONARY! [x3]YOU DON'T RAISE TAXES WHEN THIS HAPPENS!!!
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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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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 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/
