Functional Finance

There is no economic policy debate without a clear understanding of modern money mechanics.

[Functional Finance @functionalmoney]

“What is important about the budget is whether it is inflationary or deflationary, not whether [it is]balanced or unbalanced”
Paul Samuelson

[Nina Burleigh @ninaburleigh]

If you're mystified by Trump's latest pardon, of the Silk Road drug dealer Ross Ulbricht, I covered the trial and wrote a long piece on his libertarianism and the charges that he got a life sentence for, including hiring a hit man to kill a competitor ... https://t.co/JQOtO7Rpfa

[Functional Finance @functionalmoney]

@culturaltutor Uh Chicago not being listed in cities with most is an outrageous oversight.

[The Lever @LeverNews]

🚨NEW FEDERAL RESERVE STUDY

A whopping 70 PERCENT of expected flood damage to American homes is now uninsured.

Republicans & those who don’t believe they’re threatened by climate change are more likely to be among those underinsured. https://t.co/hzMnPHuHy6

[Functional Finance @functionalmoney]

@WomanDefiner Uh operation choke point which he is referring to was cracking down on payday lenders extortion of poor unbanked citizens and rightfully so. If we had postal banking like the rest of the world they would rightfully not exist but vulture capitalist couldn't profit from that so..

[Richard Hanania @RichardHanania]

The Economist on the American economic miracle:

Over the past three decades America has left the rest of the rich world in the dust. In 1990 it accounted for about two-fifths of the gdp of the G7. Today it makes up half. Output per person is now about 30% higher than in western Europe and Canada, and 60% higher than in Japan—gaps that have roughly doubled since 1990. Mississippi may be America’s poorest state, but its hard-working residents earn, on average, more than Brits, Canadians or Germans. Lately, China too has gone backwards. Having closed in rapidly on America in the years before the pandemic, its nominal GDP has slipped from about three-quarters of America’s in 2021 to two-thirds today.

Every new ideology in American society is about how it is broken. Our chattering class has become mental due to the internet and social media. Their misery doesn't reflect what is happening in society.

[Functional Finance @functionalmoney]

@HighwaysSEAST Yes allow an extra 4 hours to travel 6 miles.

[Functional Finance @functionalmoney]

@DStrachman Do American's not group chat? I live on them and WhatsApp is indispensable

[George Conway ⚖️🇺🇸 @gtconway3d]

.@JoeBiden is a patriot. He has selflessly served this Nation with distinction for a half a century, and stepped forward to save it in 2020. We Americans again owe him our deepest thanks and respect for putting the country above all else once again.

Thank you, Mr. President.

[Lisa Abramowicz @lisaabramowicz1]

"For the first time in more than sixty years, US energy production is now higher than US energy consumption:" Apollo's Torsten Slok

[Justin Baragona @justinbaragona]

MSNBC's Nicolle Wallace on tonight's debate: "How is the first question not who won the 2020 election?"

[Joe Weisenthal @TheStalwart]

NEW ODD LOTS:

How Corporations Learned The Maximum Amount They Can Charge For A Product

@tracyalloway and spoke with @ddayen and @owenslindsay1, who have published a special new edition of @TheProspect entirely about the new world of pricing strategies https://t.co/k9IRiWrQ7i

[Sir William Browder KCMG @Billbrowder]

It's Time to Direct Russia's Frozen Assets to Ukraine | TIME https://t.co/Zkx1oGa8no

[Matthew Yglesias @mattyglesias]

House Republicans have revealed their governing plan for America:

— National ban on all abortions (and IVF)
— Huge cuts to Medicaid
— Smaller cuts to Social Security & Medicare
— $5 trillion in tax cuts

https://t.co/0KQuCLTgyY

[The.Ink, from Anand Giridharadas @AnandWrites]

There are many interesting things about @linakhanFTC’s tenure as FTC chair, but to me her most compelling project is her effort to reframe freedom for Americans as a thing that can be taken away by private actors, not just public ones.

https://t.co/WkanPHG35M

[Alexander Kokcharov @alex_kokcharov]

The best response to the proposal to negotiate with #Russia’s Putin was given by #Ukraine’s Foreign Minister Kuleba:

“[Prigozhin] had a conflict with Putin, he had successful negotiations: ended the conflict, agreed to security guarantees. And then Putin killed him.”

[afcstuff @afcstuff]

Alexandre Lacazette on Instagram story.

Once a Gooner, always a Gooner. ❤️ #afc

[Isabella M Weber @IsabellaMWeber]

Source: https://t.co/JVx4AiginQ

[Functional Finance @functionalmoney]

Outstanding!

[Richard Murphy @RichardJMurphy]

We face the biggest group of strikes in recent history today. That is not surprising. A belligerent and out-of-touch government is deliberately trying to crush the living standards of public sector workers when paying up makes total sense. A thread…..

[Michael Pettis @michaelxpettis]

1/3
I've long argued that you could write a pretty good history of American politics from well before the American Revolution through the 1940s by just focusing on political conflicts over banking and on the definition and control of money.