Pinned Tweet
There’s a comforting story about how humanity escaped poverty: capitalism.
One variable, one chart, one conclusion. Incomes were flat for ten thousand years, then capitalism arrived and the line went up.
It’s wrong, spin, myth. A lie.
Let me tell you why🧵>>>
“But Russia also has security concerns, and those concerns cannot simply be dismissed because they come from Moscow.”
Why not?
Are Russia’s security concerns reasonable and proportionate?
No.
Is anyone threatening Russia?
No.
Is this account a Kremlin shill?
Absolutely yes.
Ukraine can have its own military. Nobody is arguing otherwise. But Russia also has security concerns, and those concerns cannot simply be dismissed because they come from Moscow.
The issue is what happens when Ukraine’s military is increasingly integrated with NATO, an alliance Russia has opposed expanding towards its borders for decades.
So why is Ukraine’s security treated as the only concern worth discussing, while Russia’s is dismissed outright?
Wol retweeted
Falls ihr es noch nie gehört habt: Lernt, was der Cantillon-Effekt bedeutet.
Neues Geld landet nicht gleichmäßig bei allen. Wer es zuerst bekommt (Staat, Banken, Großkonzerne), kauft Dinge, bevor die Preise steigen. Wer es zuletzt bekommt (Arbeitnehmer, Sparer), zahlt schon die höheren Preise.
Deshalb:
– steigen Immobilien und Aktien schneller als Löhne
– wird Wohneigentum für viele unbezahlbar
– profitiert, wer Vermögen besitzt, und verliert, wer nur Einkommen hat
– geht die Schere zwischen Arm und Reich immer weiter auf
– fühlt sich das Leben an wie ein Hamsterrad, in dem man trotz Arbeit nicht vorankommt
Je mehr Geld ins System kommt, desto unfairer wird es verteilt. Das Problem ist nicht der Kapitalismus, sondern unser Geldsystem.
You can’t have an almost libertarian state.
The rest of this is gibberish of course. As you would expect from an infant.
MMT never said “print forever, nothing happens.” It says the real constraint is inflation and productive capacity, not some imaginary solvency cliff. Stop misrepresenting it.
MMT tells you a monetarily sovereign nation can issue all the currency/debt it wants and nothing will happen, claiming that currency and market volatility can easily be eliminated by cancelling the capital account.
This nonsense can only be promoted by someone that does not understand that the currency collapse and creditworthiness slump are driven by domestic citizens and savers rejecting the local currency; it is not an evil conspiracy of foreign investors.
Furthermore, no nation is monetarily sovereign. It always depends on demand. Try to force use or restrict flow, and the currency is worth nothing.
And local citizens are the first to reject an increasingly worthless currency issued by an irresponsible government.
You are welcome
Wol retweeted
This chart is insane. This shows Russia's casualties over time compared to Russia's territorial gains in Ukraine over the last five years.
No sane or rational person would say continuing the war to try and take more of Ukraine's territory is worth the casualties.
Kath needs educating.
1. UK spends by creating money via the Bank of England.
2. Taxes come after and destroy money.
3. Taxes control inflation and give the pound value. They don’t fund services.
4. Her figures are anyway gibberish. Even within her faulty logic.
Wol retweeted
A throwaway tweet from Warren Mosler contains more useful economic information than the entire collected works of Ludwig von Mises.
Kremlin shill. Avoid.
Wol retweeted
Replying to @TheGreenParty
@TheGreenParty, for the sake of our futures can you stop saying ‘raise taxes to pay for…’
Tax removes money from the economy - it doesn’t ‘fill government coffers’.
Multiple crises have arrived because our political parties do not understand this. For all our sakes, be better.
Wol retweeted
Trump lost the 2020 election. Putin invaded Ukraine. Europe is not about to fall. January 6th happened. Trump is incredibly corrupt and incompetent.
Wol retweeted
In which the General Secretary of the TUC no less, immediately accepts the Tory household framing fallacy, skips into Thatcher’s trap, closes the door on any hope of change and hands the Tory the key.
China drags 100s of millions out of poverty while the British left roll over.
“Next year he actually has to find the money that doesn’t exist.”
“There are things the Government can do that aren’t just about tax.”
Rachel Wolf, who co-wrote the 2019 Conservative manifesto and Paul Nowak, TUC General Secretary, discuss the challenge facing Andy Burnham’s government, ahead of next week’s Budget
#Newsnight
There’s a type of person who:
A. Rails against benefits
B. Insists everyone pays their way
C. Applauds billionaires who abandon the country that made them rich in order to stop paying their way
D. Will take any handout themselves
We call these people, cunts.
@chloroquinecake
























