ℹ️ Not The Torygraph 💚 #SaveOurNHS #ScrapNHSBill

⚕️Against the Outsourcing and Asset Stripping of Public Services ⚕️#FBNHS 😊 THREADS LINKED HERE ▶

[ℹ️ Not The Torygraph 💚 #SaveOurNHS #ScrapNHSBill @TweetForTheMany]

THREAD 1/x

ONLY new government spending can increase private sector’s net savings. Taxation does the opposite.

Every £ comes either from government spending (adding to total government debt until taxed back) or from bank lending (creating deposits but no extra wealth overall).

[Steve Hall @ProfHall1955]

Only 9% looking at even a moderate pension. £700k needed for 'comfort'. Jobs precarious. Price rises making saving impossible. The financialised neoliberal system is finished but the majority believe it will 'self-correct'. The creditor-rentier class need taking down.

[ℹ️ Not The Torygraph 💚 #SaveOurNHS #ScrapNHSBill @TweetForTheMany]

@tolles @DavidMcNab17 @conrad_kafka @ProfHall1955 🤣 you’re not worth the effort.

[roqayah chamseddine @roqchams]

Israel is attempting to manufacture consent for a deliberate attack on south Lebanon’s Tebnine Hospital, which is one of the south's largest and most vital medical facilities, by baselessly claiming Hezbollah has 'seized' it or is utilizing it in some way.

The hospital’s administration has fiercely denied these allegations in a statement released moments ago, warning that they are intended to justify an Israel attack. Despite the escalating danger posed by Israeli bombardment, the facility remains fully operational, currently housing approximately 70 staff members and 10 doctors who continue to provide critical care to active patients.

To completely refute these Israeli claims, the administration highlighted that the Lebanese Army maintains a continuous daily presence and an active dispensary directly on the hospital campus. Furthermore, teams from the International Committee of the Red Cross (ICRC) operate on-site. Labeling the unsubstantiated claims a direct violation of international law, the hospital has even invited global media and independent monitors for immediate field visits, while urgently appealing to the Lebanese government and international bodies to protect the facility and its workers.

[Hamza Yusuf @Hamza_a96]

“We failed to intervene… we failed to apply enough pressure…”

This audacious moral grandstanding is quite something.

Emily Thornberry, like most Labour MPs, failed to condemn the genocide when Israel was making it crystal clear what was coming.

We won’t forget.

[ℹ️ Not The Torygraph 💚 #SaveOurNHS #ScrapNHSBill @TweetForTheMany]

@DavidMcNab17 @tolles @conrad_kafka @ProfHall1955 He has a magic money tree.

[ℹ️ Not The Torygraph 💚 #SaveOurNHS #ScrapNHSBill @TweetForTheMany]

Important insight…

Deficit spending injects reserves net: When the government spends on infrastructure, responds to supply shocks (e.g., energy crises, pandemics), or runs a primary deficit, it credits private bank accounts → banks gain reserves at the central bank. This is the key net addition to the system.
• Bond issuance is OPTIONAL and drains reserves short-term: The Treasury sells bonds to investors/banks. Buyers transfer reserves to the government’s account at the central bank. This removes excess reserves that would otherwise push short-term interest rates down (toward zero in a floor system). Central banks use this (or alternatives like paying interest on reserves) to maintain their target rate. https://t.co/PhfxqFHncO
• Redemption/maturity returns principal + interest: When bonds mature, the government pays back the face value (and interest). This injects reserves back into the banking system—reversing the earlier drain. In practice, with ongoing deficits, governments rarely run large surpluses to “pay down” the debt stock; they issue new bonds to roll over maturing ones. The total stock of government liabilities (reserves + bonds) grows with cumulative deficits. https://t.co/xkGRDdgyjt
Net effect over time in a deficit-running economy: More financial assets in the private sector (deposits, bonds, etc.), supporting demand, saving desires, and investment.

The government “debt” is the private sector’s asset.

[ℹ️ Not The Torygraph 💚 #SaveOurNHS #ScrapNHSBill @TweetForTheMany]

@PhilArmstrong58 @neocentrist @HenricCont IMHO The key to understand MMT is to unpick the role of Bond Markets

The idea that we incur more debt by paying Bond holders might be a vehicle to explain the flaws in existing monetary policy and thought processes

[Prem Sikka @premnsikka]

Three quarters of UK workers not on track for moderate pension income.

Result of years of austerity, low wages, high cost of living.

Maximum state pension is less than 50% of minimum wage. Neoliberals want to end the triple-lock.

Poverty awaits millions
https://t.co/J4RWzcxq3a

[ℹ️ Not The Torygraph 💚 #SaveOurNHS #ScrapNHSBill @TweetForTheMany]

@TheHumanSpoon @HenricCont @GlassJet @litewhisperer @PhilArmstrong58 @neocentrist https://t.co/MVjN9pnjjS

[ℹ️ Not The Torygraph 💚 #SaveOurNHS #ScrapNHSBill @TweetForTheMany]

THREAD 1/x

ONLY new government spending can increase private sector’s net savings. Taxation does the opposite.

Every £ comes either from government spending (adding to total government debt until taxed back) or from bank lending (creating deposits but no extra wealth overall).

[ℹ️ Not The Torygraph 💚 #SaveOurNHS #ScrapNHSBill @TweetForTheMany]

@tolles @conrad_kafka @ProfHall1955 This Professor of Economics would disagree with you

[ℹ️ Not The Torygraph 💚 #SaveOurNHS #ScrapNHSBill @TweetForTheMany]

@aedmans Let’s have the conversation about this…

[Steve Hall @ProfHall1955]

The bond market is 'the will of the people' and represents 'reality'.🤦How do we tear down this brainless belief system?

[Sangita Myska @SangitaMyska]

It’s begun: The Great Rewriting of History by the politicians, journalists, media commentators who stayed quiet over Gaza to keep climbing the greasy pole - while a handful of us who spoke-up were smeared, abused, or fired.

As @Hamza_a96 says, don’t let them do it:

[Grok @grok]

No, Nigel Farage did not attend or speak during today's Commons statement by Home Secretary Shabana Mahmood on the Henry Nowak case (ordered by the Speaker after the killer's sentencing and bodycam release).

Farage has been vocal externally via videos and posts criticising "two-tier policing," but no reports or Hansard mentions place him in the chamber. Reform's Robert Jenrick raised the issue previously.

[Just Simple Truth. @simplemd77]

@TweetForTheMany @PhilArmstrong58 @neocentrist @HenricCont You buy a million $ bond. They remove the $ from your checking account, transfers it to a treasury account at the Fed. When terms up, they reverse it putting it back into your account. Keystroke (create) the interest owed. The sum total of all bonds, they call borrowing and debt.

[Gyll King Post Skip Diplomacy @GyllKing]

£13 billion of Blair’s PFI investment has turned into £80 billion with some Trusts, all these years later spending more on servicing PFI debts than on drugs.

Vichy Labour extracting public wealth for their corporate masters.

[Jamie Smith @JGS952]

@aedmans You cant get rid of gravity. But you absolutely can get rid of UK government bond markets. Just stop issuing bonds. Allow all net spending to stay as overnight sterling instead, earning the same 3.75% yield they currently receive (or 0% as I'd advocate for but each to their own).

[Philip Armstrong 💙 @PhilArmstrong58]

@neocentrist @HenricCont Remember the famous Joan Robinson quote, 'The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists'
and J.K. Galbraith, 'In economics the majority is always wrong...'

[Steve Hall @ProfHall1955]

'You're', not 'your'. After the events and political responses of the past 18 years, the tin-foil hat jibe is stupid and redundant. Most people now know they're being lied to on a vast scale. There's no bribery or duping. Is every BBC journalist personally bribed or duped to peddle a similar story? They just know the rules of the game. In C18, when the rules were set, bondholders and politicians were largely the same people. You have no comeback on my factual, historical knowledge. You're utterly clueless.

[ℹ️ Not The Torygraph 💚 #SaveOurNHS #ScrapNHSBill @TweetForTheMany]

@laidlaw_stuart @ProfHall1955 There are a number of switched on BBC journalists and the BoE own literature explains exactly how governments finance their spending

[Andy Verity @andyverity]

This is why it's wrong to say because we've got big debts, we must fix them immediately. Financially, governments aren't like households. As sovereign currency issuers, they can borrow vast sums from themselves (the Bank of England is ultimately another branch of govt).

[Philip Proudfoot @PhilipProudfoot]

I really don’t understand what the US thinks it will gain from allowing Israel to commit massacre after massacre in Southern Lebanon.

And I also don’t understand why Europe is so passive as Israel destroys a state just 220 kilometres from Cyprus.

Endless stupidity and impunity