Economist in MMT & ecological macro, completing a M. Economics of Sustainability. On a crusade for economic enlightenment, even experts can’t resist my wit.
Wiradjuri Country
Joined December 2010
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Richard Murphy’s rejection of the Job Guarantee is a profound category error.
By stripping the JG out of MMT, we allow the establishment to extract the "fiscal space" while leaving the NAIRU intact.
We cannot let MMT be strip-mined. Here is why: 👇
nitter.gq/AusMMT/status/20591387…
Darren Quinn | Modern Money Economist/Educator retweeted
💚 Ask Senators to support the motion to overturn NDIS support cuts, currently scheduled for 17 November.
Act: everyaustraliancounts.com.au…
Share: forms.gle/HwzQQzcsWjV97SjEA
Disability Gateway 1800 643 787
Lifeline 13 11 14 (24/7)
#ProtectOurNDIS
ALT A white note pinned to a red background reads: “Ask your Senators to vote against NDIS support cuts”. The word “against” is highlighted in dark red. Every Australian Counts logo below
When you pay tax, the money doesn't go into a vault to be spent later. Your bank account is debited, and the reserves are extinguished. Tax destroys currency. Spending creates it. The Commonwealth is not a piggy bank being filled and emptied. #MMT
#MMT Card 4 of 12, Deficits, Surpluses and the Function of Tax. Icon: A tap labelled "spend" fills a bucket that drains through a pipe labelled "tax". Taxes do not fund spending. They release real resources by regulating non-government purchasing power.
Points: A deficit adds to the money and bonds the non-government sector holds: Its net financial assets. A surplus drains them. That supports macroeconomic stabilisation and, where the spending is directed at it, industrial development.
Whatever you do, don't watch the video or listen to it.
#askanyeconomist What happens if a price goes up? #econ youtube.com/watch?v=06Ce6QWW…
All about today's interest rate rise FYI
Darren Quinn | Modern Money Economist/Educator retweeted
A question worth sitting with: before the Commonwealth had ever spent a single Australian dollar, where would anyone have got the dollars to pay tax in them?
They couldn't have.
Spending comes first. It has to.
The sequence is not a preference, it's a logical necessity. #MMT
Darren Quinn | Modern Money Economist/Educator retweeted
MEDIA RELEASE:
Total Australian property listings reach 300,000 residential properties.
Melbourne (51,264) and Canberra (5,548) listings both reached the highest levels on SQM records.
New listings increased 8.0% nationally but remain 1.2% lower year-on-year.
Old listings rose 6.3% nationally and are now 16.2% higher than October 2025.
Distressed listings increased a further 10.2% to 5,368 properties, the highest level since late 2024, and are now 42.3% higher year-on-year, with every state and territory above October 2025 levels.
sqmresearch.com.au/uploads/T…
#askanyeconomist What happens if a price goes up? #econ youtube.com/watch?v=06Ce6QWW…
All about today's interest rate rise FYI
#MMT Card 3 of 12, Monetary Sovereignty.
Sovereignty is anchored in the state's power to impose taxes, which drives demand for the currency. An issuer with a floating exchange rate faces no financial constraint on spending, only real and chosen institutional limits.
A managed float bends policy to defend the rate. Borrowing in a foreign currency surrenders sovereignty through a separate channel: That debt cannot be settled by creating the currency. State governments and members of a currency union are currency users, not issuers.
Even bigger news, IIRC, these days he is also an MMTer. Or it could just be someone with the same name, though I do think it is him. Feel free to find out and correct me in either direction
2027 recession inbound, unless it is offset by AI investment, larger deficits, or RBA pivots, as I thought they would be doing about now, into lowering rates
At its meeting today, the Board decided to increase the cash rate target by 25 basis points to 4.85 per cent.
Read the full statement here: ow.ly/8zaP5103coK
Darren Quinn | Modern Money Economist/Educator retweeted
Economics might be the only profession where you can spend your entire career explaining why something shouldn't happen, watch it happen repeatedly, and still get invited on television to explain why it didn't really happen.
This is why NSW really can run out of money and the Commonwealth cannot. The states tax and borrow in a currency they don't issue. Canberra issues it. Comparing the federal budget to a household budget isn't a simplification — it's a category error. #MMT
The Myth of the Microfounded Model vs. The Reality of the Currency Monopoly
A central bank's prize, for the theory of central banking.A Ceremony With a Gold MedalEvery economy runs on a tension between Ceremonial habit (the...
darrenquinn.substack.com/p/t…
Darren Quinn | Modern Money Economist/Educator retweeted
Unlike a company, the Australian Govt is the issuer of the Australian dollar and can never run out.
So not akin to a company, davey boy.
The Australian Govt is akin to a company trading while insolvent. Increasing its workforce by 20 percent is madness. Add on top that, the ‘work’ they do generally makes it harder for private business to make a profit, thus in the long term, it reduces tax revenue. It’s a lose lose economic death spiral. And 2027 is gonna be BLEAK.