Örn Orrason

Engineer, teacher,guitar player, soccer player, bicyclist, economics amateur, golfer, father, audiophile, MBA

[Örn Orrason @ornorrason]

@konradgudjons Undarlega mikil aukning þar miðað við % sem maður hefur séð

[Prof. Steve Keen @ProfSteveKeen]

I keep hearing the same story.

The US government spends $2 trillion more than it collects, sells Treasury bonds to cover the gap, and if this continues forever the whole thing collapses like a household that never stops borrowing.
That story is wrong.

Government can create its own money. A household that does the same goes to jail for forgery. Once you look at the actual double-entry tables instead of the usual flowcharts, the difference becomes obvious.

Taxation takes money out of private deposits and bank reserves and raises the Treasury’s net worth. Spending does the opposite.

The deficit itself creates the reserves that banks then happily swap, at primary auction, for bonds that pay interest and can be traded. Those auctions have never been undersubscribed.

Secondary-market selling by foreign holders moves secondary prices. It does not change the primary funding mechanism.

I show the tables and the numbers in my new video.

https://t.co/PTR5Dbkdz8

[Örn Orrason @ornorrason]

@DEhnts Not sure where you are going ( I understand german). You seem to be criticising the current system due to under investment but at the same time say it´s ok since ECB does kind of QE, resources are limited and poiticians are not to be trusted. The debt ceiling should be on.

[Örn Orrason @ornorrason]

@konradgudjons Sama niðurstaða og ég hef fengið.

[Konráð S. Guðjónsson @konradgudjons]

Það er hægt að segja ýmislegt.

Síðan segja gögn málsins annað.

[Örn Orrason @ornorrason]

@ORGrimsson Not wice

[Ólafur Ragnar Grímsson @ORGrimsson]

Is it wise to sign a security agreement with #EU while that dance of uncertainty is going on. Even member states don’t know what it means!

[Örn Orrason @ornorrason]

@DEhnts I can give examples where e=mc^2 has been implemented

[Örn Orrason @ornorrason]

@GoldenSoundHiFi my condolonces. ;-)

[Örn Orrason @ornorrason]

@DEhnts @elonmusk Because demand is not enough or should we say there is overcapacity on the production side

[Örn Orrason @ornorrason]

@PorkfootM @frippofficial Thrak

[Örn Orrason @ornorrason]

@thesidsmith @frippofficial And he said "would you like to work with me in the future?"

[Örn Orrason @ornorrason]

@arnih Held frekar að Eiríkur stjórnmálafræðingur sé fyrirmyndin

[Örn Orrason @ornorrason]

@StephanieKelton Applying MMT analysis to other countries then US is sadly missing. Look at EU and the EEA coubtries, Switzerland, Norway, Iceland. In Iceland the government finances it self on the free market. Is that desireable?

[Örn Orrason @ornorrason]

About national debt. Um hallarekstur ríkissjóðs og svokallaða skuldasöfnun https://t.co/JRqKZ4bEog

[Örn Orrason @ornorrason]

@Ajo_confit @HackettOfficial So sad to read this blood thoughts

[Örn Orrason @ornorrason]

@Archimago Merry christmas and a happy prosperous MQA year

[Örn Orrason @ornorrason]

@frippofficial Man of many talents

[Örn Orrason @ornorrason]

My man

[Robert Fripp @frippofficial]

'This is a pre-show dance-off' at Wickham Festival...
Discover brand new designs celebrating Toyah & Robert's first ever co-headline tour at https://t.co/KBeIEpl7oQ
🤘&❤️

#robertfripp #toyahwillcox #toyahandrobert

[Robert Fripp @frippofficial]

'This is a pre-show dance-off' at Wickham Festival...
Discover brand new designs celebrating Toyah & Robert's first ever co-headline tour at https://t.co/KBeIEpl7oQ
🤘&❤️

#robertfripp #toyahwillcox #toyahandrobert