W8nC

Flamer of fools, idiots, & gaslighters.

[W8nC @TwHandle]

@Econgrad5143 @RebelEkonomista Well now.. that's the danger with assumptions absent basis.

I want govts, officials, and economists to describe the system how it currently exists. Unfortunately facts don't matter as public ignorance is the preference of ideologues and officials who enjoy feeling 'clever'.

[W8nC @TwHandle]

Hmm so @RebelEkonomista states the constraints are voluntary. I reply in agreement, elaborating that 'there is no **functional** barrier' to govt spending new money into circulation.

So.. exactly how do you 'Leap. Leap. Leap.' to inflation based on that? And more importantly, why?

[W8nC @TwHandle]

This exactly.. we all have a fair idea how Chipkins will run a govt.. we also know he's a middle of the road centre-right neoliberal, kinder better leader & party policy, sure.. but still he's still a centre-right neoliberal & Washington Consensus adherent at the core.. nothing focused or radical is ever coming from a Hipkins govt.

[W8nC @TwHandle]

@RebelEkonomista @Econgrad5143 100%. Mechanistically the CSA has no functional 'limit'; there is no barrier to govt spending new money into circulation.

[W8nC @TwHandle]

@caseycravens Never argue with knuckle-dragging MAGA morons.. they'll drag you down to their [knuckle] level (🤣) and beat you with experience.

[W8nC @TwHandle]

Contemporary mainstream economics are a blanket rejection of empirical fact.

Examine some of the core assumptions and it all falls apart, for example:

*NKPC > Systemically failed post-GFC while the curve progressive flatting in the preceding decades.

*Inflation Targeting > Theory founded on spurious causalities that obviously didn't and never could anchor anything.

*DSGE > GFC.. GFC.. GFC. Omission of systemic risk, 'equilibrium' fantasy, zero macroeconomic shock tolerance. Supply-side? What's that?

*NAIRU > Unmeasurable nonsense.

[David Peez @RebelEkonomista]

Hickey nails it. Net interest is about 2% of government revenue, and the Crown's assets beat its debt by $185bn. The "no choice" line is a ghost story, the bond vigilante myth I pulled apart on Substack. It's a political choice, not a fiscal limit.

Scoop: NZ Govt has more assets than debt, by @bernardchickey https://t.co/8Xla3luJKI

[W8nC @TwHandle]

👆 what he said + education.

(i) Educate mainstream media on how our financial system functions, practically & mechanistically.. and make comprehension compulsory.

(ii) Educate the general public on how our financial system functions in broad terms, presenting the full picture in plain framing: 'what', 'why', 'how', and 'when' on sovereign investment, debt & taxation.

(iii) Incorporate sovereign finance and investment into secondary education curriculum as a mandatory subject; years 8 : 13.

(iv) Full-scale purge of Treasury & RBNZ; any utterance of "Phillips curve" or "equilibrium" results in instant termination.

[David Peez @RebelEkonomista]

Notice every "fix" here takes the same thing for granted: that super is a pot of money funded by today's workers, and the pot's running dry. It isn't. The government issues the currency. It doesn't dip into a tax kitty to pay pensions.

So the worker-to-retiree ratio is the wrong worry. The dollars aren't the constraint. The real question for 2040 is whether the economy can produce enough real goods and care for retirees. Enough nurses to look after them, enough homes to house them. That's about productivity and training people, not the size of a number on a Treasury spreadsheet.

Three experts, three ways to ration a pension, and not one asks whether we'll have enough real resources. You can't eat a fiscal projection. Fix the real economy and the "bill" looks after itself.

What should we do about New Zealand’s soaring superannuation bill? https://t.co/QBkcpYNe9h

[W8nC @TwHandle]

@carlworker @Daffwena Sobering doesn’t quite cover it considering these outcomes are ostensibly intentional based on examining U.S. actions for the last 18-24 months, up until now.

[W8nC @TwHandle]

Fiscal restraint in the context it’s been applied in Aotearoa is and always has been 100% bullshit justified with the grand lie that is neoliberalism, a fantasy which inverts the reality of ‘money’.. what it is, and how it enters AND exits circulation.

All Aotearoa did in reality was sell off core parts of our economy for peanuts in the dollar.. then we spent 4 decades hollowing out the state while cyclically gorging on private bank-credit trading our weatherboard shacks up for ever larger mortgages while getting supremely lucky with dirt cheap imports, until we luck ran out and we can’t do without those same imports.. our shacks are still shacks, the mortgage is now for life.

[W8nC @TwHandle]

@policytensor A hastily assembled gibbet for the both of ‘em.

[W8nC @TwHandle]

Our govt have no plan and the bottom of the proverbial global barrel is weeks away.. then, the scramble for *real* available barrels is truly on.. and everyone is going to learn what “price discovery” means in a global physical energy shortage manufactured & imposed with illegal war-making by the United States.

[Glenn Diesen @Glenn_Diesen]

Yemen has announced they are shutting down Israel's access to the Red Sea

[W8nC @TwHandle]

In summary; a tribute down-payment.. the remaining 90% yet to be extracted.. impact & effect remain to be seen; it’ll be shatteringly high in the longer term in all probability, manifesting well after the politicians making such decisions have departed the game.

One has to hope vociferous voices that actually shift the dial emerge.. but if Canberra’s last x exec iterations are anything to go by it’s tribute & basing now, front-line fodder and all the rest later.

[W8nC @TwHandle]

Trump is full of 💩.

Israel is the American attack dog.. the proxy doing Yankee dirty work. The orders go one way; everything else is a psyop.

Israel is simply the most violent of many tentacles the abomination that is the U.S. Empire employs in pursuit of its full-spectrum dominance goal.

[W8nC @TwHandle]

@carlworker That's a much better option than a proverbial hot poker in that very "eye" we'll eventually earn ourselves if the current lot persist with the current IR direction of travel.. and heaven help us, are reelected and pursue just that.

[W8nC @TwHandle]

Folks would do well to pay attention too Prof. Keen's message; these are facts grounded in cold hard mathematics, catastrophe is coming for many millions.

[Prof. Steve Keen @ProfSteveKeen]

These are countries with hundreds of millions of people who depend on fertilizer. The northern hemisphere planting window does not pause for geopolitics. Famine is almost inevitable at this point. The question is where it hits and how badly.

[W8nC @TwHandle]

@KyleDChurch Its a WTAF moment.. like 'is this real'? WTAF stuff.

The party had to have been aware.. and if they weren't, well I'm not sure what's worse.

[W8nC @TwHandle]

The need to do just that.. and fast.. just went up 1000x as the Iran war just blew up again; the U.S. proving it is agreement incapable.. a death writ for the global economy and BIG pain coming our way.

The country is totally royally utterly fucked if 'the coalition' is returned to power.