strategic stakeholder (ironic: bureaucratese for vested interest)
Sydney
Joined May 2009
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Alan Luchetti retweeted
Domar, 1944. “The ‘Burden of the Debt’ and the National Income.”
@JesusFerna7026
Alan Luchetti retweeted
Det finns en skadlig vanföreställning om att balans och överskott är ansvarsfullt, medan underskott är farligt. Att staten borde köra överskott under högkonjunktur för att "jämna ut" och fylla ladorna inför en lågkonjunktur.
I själva verket måste en valutautgivare ge ut tillräckligt med valuta (vilket görs genom underskott) för att tillgodose valutaanvändarnas önskan att spara. Den önskan kan vara hög även under högkonjunktur. Görs inte detta räcker inte efterfrågan, produktionen saktar in och arbetslösheten ökar.
Att diskretionärt växla till överskott bara för att ekonomin går hyfsat är ett garanterat recept för att förstöra ekonomin.
Övergångsregeringens budget för 2027 innebär fortsatta underskott, och i prognoserna syns inget överskott de närmaste åren. Det är oansvarigt, menar Skattebetalarnas chefekonom Erik Bengtzboe. ”Man borde omedelbart peka på besparingar”, säger han.
skattebetalarna.se/sagar-reg…
Alan Luchetti retweeted
Practical men and women who think they are free of intellectual influence are usually the slaves of some defunct economist.
Keynes put it clearly.
The ideas of economists, both when they are right and when they are wrong, are more powerful than is commonly understood.
Macron, the designers of the euro, Andy Burnham, Mark Carney and politicians everywhere who treat reducing the deficit as their main job absorbed the same lesson when they were students.
They slash spending on education because they were taught this will let the economy grow faster.
They do not see the irony that an economy with fewer educated people is supposed to grow faster than one with more.
There is one arrangement that avoids the money reversal entirely.
Current laws ban it.
P.S. See why the obsession continues in the comments.
#Economics #Eurozone #Austerity #GovernmentDebt #SteveKeen
Alan Luchetti retweeted
Made free-to-read because I think this is a really important piece. Our preliminary analysis of 2026 shows that while moderate politicians retained an electability edge, it seems to have *considerably* shrunk from the last few cycles, on the whole.
theargumentmag.com/p/do-mode…
Alan Luchetti retweeted
The richest people on Earth have convinced millions of broke assholes that the greatest threat to their prosperity is someone even poorer getting a free lunch.
Alan Luchetti retweeted
In 2015, scientists expected the world would pass the 1.5C threshold in 2042.
Now they expect the threshold will be passed in 2029.
Warming is accelerating quickly.
We need to phase out fossil fuels asap.
In 2015, the projected date for reaching 1.5°C above pre-industrial levels was 2042, based on ERA5 data. Today, our C3S global temperature-trend-monitor anticipates the threshold breach within this decade.
Read the article: climate.copernicus.eu/how-fa…
#CopernicusClimate
Alan Luchetti retweeted
هذا المقطع متداول بشكل كبير بسبب الفضيحه التي حصلت فيه:
أثناء زيارة وزير الدفاع الامريكي بيت هيغسيث وزوجته وعدد من كبار مساعديه لقبر الجندي المجهول في مقبرة أرلينغتون في يوم المحاوبين القدامى، بدأ بعض أفراد المجموعة بالحديث والضحك، وهنا حدث ما لم يتوقعوه:
أوقف أحد جنود حرس الشرف دوريته، واستدار نحوهم وصرخ بصوت حازم مطالبًا الجميع بالتزام الصمت والاحترام!
المثير أن الجندي لم يتردد رغم وجود وزير الدفاع أمامه، والأغرب أن البنتاغون خرج لاحقًا ليؤكد أن الجندي تصرف بشكل صحيح
Alan Luchetti retweeted
Monica Smit is listed as the contact for two parties, "I'm Voting to Avoid the Fine" and "Climate Action Now". The parties are targetings seats the Greens want to win, as is pro-Israel activist Avi Yemeni and the five candidates of his "Free Palestine" party.
Alan Luchetti retweeted
Banks don't lend out your deposits.
When a bank writes you a mortgage, it creates a new deposit in your name and a matching loan asset.
The money didn't exist that morning.
The Bank of England said so plainly in 2014.
Loans create deposits, not the other way round.
Alan Luchetti retweeted
And here's the link: youtu.be/obO1pieuldg
Very counterintuitive to learn about the money reality so @ProfSteveKeen has created an IT model of the internal workings of money system, public and private, that proves his explanation is correct and the current one is just wrong
Impress your friends with insider knowledge
Alan Luchetti retweeted
The funniest thing about so called free market economics is that the super rich have had 40 years to piss on the rest of us, and there are still people standing underneath them with their mouths open, calling it economic freedom.
Alan Luchetti retweeted
67% of GDP is not a crisis.
It is simply the inverse of money velocity when a government deficit creates money.
The Euro forces every country to sell its bonds to the private sector.
That single rule cancels the money creation a deficit actually produces and turns a manageable situation into an exploding debt ratio.
I show the three systems side by side with Ravel©.
For a more comprehensive understanding, check out the video presentation given below.
#SteveKeen #Euro #Economics #GovernmentDebt youtube.com/watch?v=obO1pieu…
Alan Luchetti retweeted
With GIMMS, Pru and Claire created a great resource for anyone — myself included — wanting to understand how money really works for currency-issuing governments. They have my gratitude and I look forward to their continued contribution to MMT education. Thank you. Thread.
