Alan Surtees

Retired Business Studies lecturer, interested in current affairs, languages and sport.

[Alan Surtees @alqamar30]

@andrewrawnsley Enjoyed your analysis, Andrew. Bond vigilantes are essentially a tail wagging the dog of government.

[Alan Surtees @alqamar30]

@EdConwaySky A lot of the interest is internal transaction between Treasury and Bof E. Those two are, in fact, the same entity.

[Alan Surtees @alqamar30]

A new beginning? I sincerely hope so.
https://t.co/GQ0GqIFJlY

[Alan Surtees @alqamar30]

@HarryForbes7 @labourlewis All money is either printed(very small % these days) or created by electronic bookkeeping by gov or banks. This creation matches resources available and isn't inflationary if it's controlled.

[Alan Surtees @alqamar30]

@lammie_j @labourlewis We've had our own currency since 1694 and never defaulted on a gov bond in all that time. Argentina and Zimbabwe printed far too much money for the resources they controlled. Lewis was not suggesting doing that. Where would pensions be invested if gov didn't offer gilts?

[Alan Surtees @alqamar30]

@grumpy_granda68 @labourlewis You and me and your friends and neighbours are the gov's main creditors. Also the Bank of England who are really the gov. Are you or they circling?

[Alan Surtees @alqamar30]

@EdmundAvalon @labourlewis Think about the other side of the debt equation. Every debtor has a creditor Who owns most of gov debt? It is either the Bank of England or the UK public in the main. The B of E is really the gov and the UK public is you and me. Private pensions chiefly.

[Alan Surtees @alqamar30]

@lammie_j @labourlewis A sovereign country issuing its own currency in line with available resources, cannot go bankrupt.

[Alan Surtees @alqamar30]

@eddiedeanNYC3 @labourlewis Created money has to match available resources. If it's possible to do it, the money can be created to do it. Not inflationary.

[Alan Surtees @alqamar30]

@wessex29292 @labourlewis Would you borrow if you created your own money? I've seen a lot of economic ignorance on this thread. Clive Lewis is telling the truth.

[Alan Surtees @alqamar30]

@HarryForbes7 @labourlewis They(the gov) only create enough currency to match the resources available. If such resources (Labour and materials) can be made available, the gov can and should provide the money. Not inflationary in any way.

[Alan Surtees @alqamar30]

Anyone at Labour HQ listening?........I thought not.
https://t.co/2qGWNQF1hv

[Alan Surtees @alqamar30]

@samwobot @Peston Agreed. Govs are sovereign, however stupid they may be.
Bondholders rely on the integrity of the dollar to guarantee the value of their bonds. They are not calling the shots.

[Alan Surtees @alqamar30]

We'd better believe it because it's so true.
https://t.co/XBk6ULtc36

[Alan Surtees @alqamar30]

@EdConwaySky Starting with a 'balance the books' mentality is very poor governance and even worse economics.
'What does the country need?' is a much better approach.
That's what a democratic government is for. Providing and protecting within the constraints of a capitalist mixed economy.

[Alan Surtees @alqamar30]

@andrewrawnsley Enjoyable read, Andrew. Kemi has self-belief, which is good because not many others believe in her. As for PMQs, it is pointless and has been for many years.

[Alan Surtees @alqamar30]

@jeremycorbyn Totally unnecessary cuts. There are many other ways to deal with this. Let's be honest. There is no black hole or shortage of money to grow the economy because the economic resources to do it are available. They must be, or growth would be impossible. No shortage of public funds.

[Alan Surtees @alqamar30]

@Patrick00653216 @Kevin_Maguire OK, but at least think about it next game you watch.

[Alan Surtees @alqamar30]

@Patrick00653216 @Kevin_Maguire Subs plus stoppage time for injuries and VAR decisions, if any. Plus time added for any time- wasting. Added time can usually be 3 mins up to 10 mins.

[Alan Surtees @alqamar30]

@sameggnchips Governments that create their own currency cannot go bankrupt, by definition. The currency may lose value, but that's different.