Common sense economics
Joined June 2020
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@garethhutchens.bsky.social is a rare voice of sanity
Central banks inflict pain on many in the name of an arbitrary number
Further, the mechanism they use doesn't actually control that number
Amost like the econ profession has been infiltrated...
abc.net.au/news/2026-11...
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.
David Joy retweeted
#MMT Card 1 of 12, Sectoral Balances. A government deficit is, by accounting identity, the non-government sector's surplus. All sectoral balances sum to zero, every period. A coloured equation reads: Government + Private + Foreign = 0.
David Joy retweeted
The UK desperately needs to escape the learned helplessness trap. Get @PatriciaNPino on your programs ASAP.
"Painful" years ahead, think tanks warn, as living standards set to fall
bbc.in/4k5Vgsz
David Joy retweeted
What kind of mad world are we living in where this person is allowed to front up and make such subjective and repressive demands of us?
Who runs this country of ours?
David Joy retweeted
UK police arrest 94-year-old human rights lawyer Margaret Owen outside the US embassy in London for protesting against genocide and for Palestine. There is no democracy in the West. There is only capitalism, imperialism, and fascism.
David Joy retweeted
The Israelisation of Australia. Segal’s report is an attack on democracy. Abolish the job.
michaelwest.com.au/the-israe…
David Joy retweeted
This is why it’s so important to challenge the notion that the government “borrows” from the private sector. It paralyses everything, dresses itself up in “mundane common sense” but its one of the most damaging misunderstanding a politician can have.
“What I find very difficult… is the assumption you have to cut your way to be being fiscally responsible”
“There’s not a hope in hell that [Labour] are going to oversee any cuts to public spending”
Economics professor Mariana Mazzucato and Conservative MP Julia Lopez debate Chancellor John Healey’s spending plans.
#Newsnight
David Joy retweeted
"The RBA Board delivered. Thank you for making me and my comfortable peers richer, boosting my unearned income so I can continue to splash the cash around."
@MichaelPascoe01
#auspol #rates
michaelwest.com.au/a-blunt-t…
David Joy retweeted
In my 41 years on earth, I can't remember a single time I witnessed antisemitism.
When I ask my friends and colleagues, they say the same.
What exactly is going on here?
Inequality is the problem.
Don't blame the far right, blame the faux-left.
We need an inequality target (e.g. Gini index of mid 70's) and policies to get there.
abc.net.au/news/2026-10-20/r…
We are not sleepwalking into oblivion, we are sprinting flat out into it.
Sign of the times eh? A longish piece on BBC about Heathrow 3rd runway that doesn't mention #netzero or incompatibility with UK govt climate goals. All about growth. What a total mess. bbc.co.uk/news/articles/cw0k…
These people trying to sound clever with their silly word combinations makes me nauseous.
One (old) word captures it: Inequality.
abc.net.au/news/2026-10-16/w…
David Joy retweeted
We're nearing 5 years of hikes/higher rates and inflation remains well above target. We had nearly a decade of ZIRP and inflation stuck to the floor the entire time.
Hate MMT all you want, but this is precisely what MMTers have been arguing would happen the entire time.
David Joy retweeted
Margaret Thatcher called bin Laden a 'freedom fighter', Mandela a 'terrorist', Pinochet a 'good friend' and trade unions 'the enemy within'. And Jimmy Savile 'Sir'.
