David Joy

Common sense economics

[David Joy @DavidjoyAd1]

@redeagletrader @AlanDownunder @StephanieKelton @wgoggin To me, money printing is fine. Just dont posit it as an alternative to taxes or bond issuance.

Every single $ or £ etc a govt spends of the currency it issues is a brand new one ("printed").

[Saganism @Saganismm]

"The idea that the poor should have leisure has always been shocking to the rich. In the early nineteenth century, fifteen hours was the ordinary day's work for a man; children sometimes did as much, and very commonly did twelve hours a day. When meddlesome busybodies suggested that perhaps these hours were rather long, they were told that work kept adults from drink and children from mischief.

When I was a child, shortly after urban working men had acquired the vote, certain public holidays were established by law, to the great indignation of the upper classes. I remember hearing an old Duchess say: 'What do the poor want with holidays? They ought to work.' People nowadays are less frank, but the sentiment persists, and is the source of much of our economic confusion."

— Bertrand Russell

[Brian Allen @allenanalysis]

🇺🇸BREAKING: Someone placed a $920 million crude oil short at 3:40 AM.

70 minutes later Axios reported the US and Iran were close to a deal.

Oil dropped 12%.

The trade made $125 million in profit.

Minutes after that Iran launched the “Persian Gulf Strait Authority” and oil surged 8%.

$760 million placed before Trump’s last announcement.

$920 million placed before this one.

Every major announcement in this war has been front-run by someone who knew it was coming.

What kind of war is this?

This is more like a trading desk with an army.

Never stop connecting the dots.

[David Joy @DavidjoyAd1]

@noplaceforsheep Indeed - particularly when you consider it was almost certainly a mossad operation.

[Alastair Leith @AlastairClimate]

@LizGlab @litewhisperer or householders can go learn some MMT and learn how orthodox economics has been hoodwinking is for more than half a century with neoclassical myths and cult figures.

start with this
https://t.co/ACnQL84BUK
or
https://t.co/zlRrr8yunE
or
https://t.co/ULZYtIZKBo

[William Thomson @Williamgallus]

The Truss mini-budget was not bond vigilantes flexing their muscles or #MMT in action. The resale market interest rate for long-term govt debt shot up from 2.32 Aug. to 4.01 Oct. This was a massive spike in the secondary bond market. 1/7

[Voice of Rabbis @voiceofrabbis]

If you're Jewish or non-Jewish, please, let the world know:

Video from last night in Monroe NY,

The message was unmistakable:

“We oppose and have no part in Zionism and State of israel”

Not fringe. Not small.

[Philip Proudfoot @PhilipProudfoot]

No amount of deranged smears will ever convince me this man is anything other than genuine, kind, and ready to stand up for ordinary people.

[Chris @real_bedwah]

Timely reminder. In Australia, higher interest rates historically lead to higher inflation. Data and paper in the link.

https://t.co/u203o0xOi4

[Clare Hinchcliffe (Rogers) @Subversivite]

All five of the defendants' speeches were powerful and moving, each in their own unique way.

You can read all of them, including Zoe's full speech, on Real Media https://t.co/ZlsKSOz3Uj
15/

[David Joy @DavidjoyAd1]

@iAmJoshHunt @John_Stepek What are you guys worried about?

[David Joy @DavidjoyAd1]

@DanielGoldersUK @MerrynSW What exactly are you worried about with these bond yields, Daniel?

[Tally Sticks @widespreadhaze]

This is the standard household-budget misunderstanding of public pensions.

Governments do not need to save up sterling or euros in a pension pot before paying pensions. Public pensions are future government payments. The real constraint is not financial in the household sense; it is real: workers, productivity, care capacity, housing, healthcare and political choices over distribution.

Low birth rates matter because they affect the future dependency ratio. But presenting pensions as “who will pay?” misses the point. Future workers will produce the goods and services retirees consume, and the state will organise the financial claims through taxation and spending.

The problem is demographic and productive capacity, not a missing pile of money.

[Sydney EV 🔋☀️ @sydney_ev]

Northern Switzerland to build the worlds largest redox flow battery, with an output that matches a nuclear powerplant. (1.2Gwh) will be charged using excess wind and solar, and discharge at night to power a city. https://t.co/T2opnI0esh

[Dr Rahmeh Aladwan @doctor_rahmeh]

UPDATE: Dr Eastland Staveley, the zionist jewish GP who said he didn't shoot enough babies is reportedly back working for Leicester out of hours DHU (@DHUHealthCare, @Leic_hospital).

Meanwhile, myself and other doctors are suspended by @gmcuk for opposing genocide & supremacism.

[skumm🧊 @skumWgmi]

I don't want to be rich.

I want to take my kids to the dentist without checking my account first.

I want to say yes when my friend asks if I want to grab dinner.

I want to replace my car's brakes before they become a prayer.

Somewhere between "rich" and "broke" there used to be a place called "fine"

It's gone now.

[Matt Kennard @kennardmatt]

The attacks are ramping up because the establishment is losing

Polanski has got the strategy locked down

Fight back always. Don't apologise to bad faith actors who desire your destruction

It's refreshing

He is becoming a transformational figure in British politics

[Harry Eccles @Heccles94]

Hannah rocks up to Westminster and suggests that perhaps MPs shouldn’t be pissed at work, and the establishment goes into meltdown.

Nice work Hannah 💚

[MMT for Progressives @MMTLabour]

@historyinmemes Now imagine that big fat zero is the additional amount of money the govt provided for a growing population that wanted to keep buying things.

So...private debt exploded.

Therein lies the cause of your credit boom/dotcom crash and GFC financial meltdown and credit crunch.