ChrisB
@chrisb2024.bsky.social
91 followers 270 following 780 posts
http://chrisblanduk.com/
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chrisb2024.bsky.social
Want to know more about #MMT but are too afraid to ask? Try this chatbot informed by 50 episodes of the
the MMTpodcast to get up to speed fast. You can even listen to a distilled mini podcast for a 20 minute summary.
bit.ly/AskTheMMTPodcast
chrisb2024.bsky.social
Welcome to the post-literate society.
"Just as the advent of print dealt the final death blow to the decaying world of feudalism, so the screen is destroying the world of liberal democracy." open.substack.com/pub/jmarriot...
The dawn of the post-literate society
And the end of civilisation
open.substack.com
Reposted by ChrisB
olisharpe.bsky.social
I had a fun conversation with Steve Keen last week.

We talked about:
- using models to show the failures of neoclassical economics
- social media voices challenging economic academia
- Modern Monetary Theory (MMT)
- the non-ergodic nature of international trade

... and more!

youtu.be/yL7oEC4891w
Economics from first principles - Steve Keen on: new book, neoclassical failures, Elon Musk and MMT
YouTube video by Go Meta with Oli Sharpe
youtu.be
Reposted by ChrisB
boldpolitics.bsky.social
Last weekend: the biggest nationalist rally in decades.

Today: Keir Starmer greets Donald Trump with open arms.

Tonight: we understand how young men are being radicalised by the far right, with someone who has been on that journey.

New episode at midnight.
youtube thumbnail of zack polanski and youtube streamer, jimmy the giant in front of a picture of a union jack and tommy robinson, with caption "i went to a tommy robinson rally"
Reposted by ChrisB
chrisb2024.bsky.social
The Great Money Myth

We seem to have forgotten that Britain's government, as the sole creator of the pound, doesn't need to tax or borrow to fund its spending. It creates new money whenever it spends. Taxes don't finance the government; instead, they create demand for the currency and manage…
The Great Money Myth
We seem to have forgotten that Britain's government, as the sole creator of the pound, doesn't need to tax or borrow to fund its spending. It creates new money whenever it spends. Taxes don't finance the government; instead, they create demand for the currency and manage inflation.
chrisblanduk.com
chrisb2024.bsky.social
11/11 Your government isn't printing money to cause inflation. Your bank is printing money to make you poorer. Every time you blame government spending for rising prices, you're helping the real culprits get away with the biggest wealth transfer in history.
chrisb2024.bsky.social
10/11 The wealthy borrow newly created money to buy assets, driving up prices. The rest face higher costs while wages stagnate. Politicians restrict the 3% of money creation that could help ordinary people while ignoring the 91% flowing to speculation.
chrisb2024.bsky.social
9/11 A FINAL KICKER: The Cantillon Effect shows newly created money benefits those who get it first. But economists blame government money creation when 91% comes from private banks lending to wealthy borrowers for asset purchases.
chrisb2024.bsky.social
8/11 This explains why UK house prices increased 5x in real terms since 1970, while Germany (stricter lending rules) saw no real increase. The culprit isn't government spending, it's private money creation flowing into speculation.
chrisb2024.bsky.social
7/11 The excess money doesn't cause general inflation, it inflates financial assets. Banks lend against assets for further asset purchases, creating feedback loops that drive prices sky-high while wages stagnate.
chrisb2024.bsky.social
6/11 ASSET PRICE INFLATION REVEALS THE REAL CULPRIT: Data from the past decade shows where new money flows:
- Wages grew 6%
- Global equities returned 41% in real terms
- Money supply up 50%, real GDP per capita up only 11%
chrisb2024.bsky.social
5/11 Private bank lending works differently. When banks sell loans, the original money remains in circulation. So private money creation is permanent while government money creation gets offset through bond market operations.
chrisb2024.bsky.social
4/11 This means actual net new government money creation is around 3-4% of total money creation, not 9%. Politicians obsessing over government "money printing" are targeting 3% of the problem while ignoring 91%!
chrisb2024.bsky.social
3/11 Most "government money creation" gets neutralized. While deficit spending does create new money, private sector bond purchases effectively destroy existing private deposits. Research shows 60-75% of bond operations are just refinancing existing debt, not funding new spending
chrisb2024.bsky.social
2/11 PRIVATE VS GOVERNMENT MONEY CREATION: Using data from 2000-2024, 91% of all money creation comes from private bank lending, while only 9% appears to come from government. But even that 9% figure is misleading...
chrisb2024.bsky.social
1/11 🧵 Just listened to the latest Debunking Economics podcast with Prof Steve Keen on money creation. Some very powerful arguments against the mainstream inflation narrative that I haven't heard put together like this before: #MMT
www.youtube.com/watch?v=EOob...
423. Countering the Cantillon Effect
YouTube video by Debunking Economics Podcast
www.youtube.com
Reposted by ChrisB
modernmoneylab.bsky.social
Less than two weeks to go before the first of our two London weekend seminars.

21/22 June Rethinking (or Replacing) Capitalism - Economics for Sustainable Prosperity

As you can see, it is a big venue, so we can still fit you in.

modernmoneylab.org.uk/events/rethi...
Reposted by ChrisB
kevbro1969.bsky.social
The #Greens are a perfect replacement for those who'd traditionally vote #Labour.

And I believe when @zackpolanski.bsky.social is leader, things will get even better. That's why I joined the #GreenParty & #BacZack.
speciesbeing.bsky.social
I'm seeing other British leftists support this guy. I trust their opinion, and wish him success. Britain needs an alternative to Labour.
zackpolanski.bsky.social
We need bold leadership. Now.

That's why I'm running to be the next leader of the Green Party.

Join our campaign: backzack.com

#BackZack