MMT Portugal
@mmt-portugal.bsky.social
Some fuses are short but powerful.
Modern Monetary Theory.
Just a guy on the MMT cyberspace.
Modern Monetary Theory.
Just a guy on the MMT cyberspace.
Pinned
MMT Portugal
@mmt-portugal.bsky.social
· Nov 23
«All transactions between agents in the non-government sector net to zero. This accounting reality means that if the non-government sector wants to net save in the currency of issue, then the government has to be in deficit.», in "Macroeconomics" - Mitchell, Wray, Watts.
Reposted by MMT Portugal
This tired, deeply-damaged man is so needy. He has to have references to him being president on his hat, on his shirt, and on a golf-framed placard next to his overcooked cheeseburger he's almost too-out-of-it to eat.
November 30, 2025 at 5:51 PM
This tired, deeply-damaged man is so needy. He has to have references to him being president on his hat, on his shirt, and on a golf-framed placard next to his overcooked cheeseburger he's almost too-out-of-it to eat.
Reposted by MMT Portugal
Next time Mr Polanski is asked a childish 'gotcha' style question about debt interest, he should say these things, though not perhaps in this order.
1) Google it (apologies to A. Bandt).
2) Debt issuance by the UK Govt is a choice, not a necessity. It is not to fund deficits...
1) Google it (apologies to A. Bandt).
2) Debt issuance by the UK Govt is a choice, not a necessity. It is not to fund deficits...
November 30, 2025 at 7:30 AM
Next time Mr Polanski is asked a childish 'gotcha' style question about debt interest, he should say these things, though not perhaps in this order.
1) Google it (apologies to A. Bandt).
2) Debt issuance by the UK Govt is a choice, not a necessity. It is not to fund deficits...
1) Google it (apologies to A. Bandt).
2) Debt issuance by the UK Govt is a choice, not a necessity. It is not to fund deficits...
Raising interest rates or having "responsible budgets" contribute zero for EU's security and sovereignty. But bending to the demands of big tech social media platforms that are biased towards far right populist propaganda, will sink EU's already fragile democracies and tear them appart.
The week Europe realised it stands alone against Russian expansionism
Washington’s Putin-appeasing plan for peace in Ukraine has failed, but many heard death knell sounded for European reliance on US protection
www.theguardian.com
November 29, 2025 at 11:33 AM
Raising interest rates or having "responsible budgets" contribute zero for EU's security and sovereignty. But bending to the demands of big tech social media platforms that are biased towards far right populist propaganda, will sink EU's already fragile democracies and tear them appart.
Raising interest rates or having "responsible budgets" are of zero use for this problem. Also, bending to the car industry instead of massive public transportation in EU was an active contribution to this. The EU with the priorities reversed.
Revealed: Europe’s water reserves drying up due to climate breakdown
Exclusive: UCL scientists find large swathes of southern Europe are drying up, with ‘far-reaching’ implications
www.theguardian.com
November 29, 2025 at 11:24 AM
Raising interest rates or having "responsible budgets" are of zero use for this problem. Also, bending to the car industry instead of massive public transportation in EU was an active contribution to this. The EU with the priorities reversed.
Reposted by MMT Portugal
We had a night of Russian culture today. You ask, what is a night of Russian culture? It's when Russian missiles and drones fly to kill you and your family. Russian culture is a culture of a hierarchy of violence, where a slave who gets a weapon becomes a despot.
November 29, 2025 at 9:27 AM
We had a night of Russian culture today. You ask, what is a night of Russian culture? It's when Russian missiles and drones fly to kill you and your family. Russian culture is a culture of a hierarchy of violence, where a slave who gets a weapon becomes a despot.
Reposted by MMT Portugal
A sub-field of science looks at whether the Atlantic ocean circulation #AMOC has weakened. Direct measurements suggest yes but only started in 2004. So people look at temperature and salinity data.
A new study finds a robust slowdown fingerprint at 1000–2000 m depth.
www.nature.com/articles/s43...
A new study finds a robust slowdown fingerprint at 1000–2000 m depth.
www.nature.com/articles/s43...
Equatorial Atlantic mid-depth warming indicates Atlantic meridional overturning circulation slowdown - Communications Earth & Environment
Mid-depth warming in the equatorial Atlantic Ocean serves as a fingerprint of a slowdown of the Atlantic Meridional Overturning Circulation on decadal scales, according to ocean model experiments, and...
www.nature.com
November 28, 2025 at 10:45 AM
A sub-field of science looks at whether the Atlantic ocean circulation #AMOC has weakened. Direct measurements suggest yes but only started in 2004. So people look at temperature and salinity data.
A new study finds a robust slowdown fingerprint at 1000–2000 m depth.
www.nature.com/articles/s43...
A new study finds a robust slowdown fingerprint at 1000–2000 m depth.
www.nature.com/articles/s43...
Reposted by MMT Portugal
@nofinancialedu.bsky.social Thursday's blog post (27/11) is now posted (13:10 EAST) - Panel of Japanese economists mired in erroneous mainstream constructions and logic - billmitchell.org/blog/?p=62953 #mmt
Panel of Japanese economists mired in erroneous mainstream constructions and logic – William Mitchell – Modern Monetary Theory
billmitchell.org
November 27, 2025 at 2:10 AM
@nofinancialedu.bsky.social Thursday's blog post (27/11) is now posted (13:10 EAST) - Panel of Japanese economists mired in erroneous mainstream constructions and logic - billmitchell.org/blog/?p=62953 #mmt
Reposted by MMT Portugal
“The year featured a record number of violent incidents over water around the world, far surpassing the 355 in 2023, continuing a steeply rising trend. The violence more than quadrupled in the last five years.” www.latimes.com/environment/...
Violent conflict over water hit a record last year
Violence over water is on the rise worldwide. Researchers counted a record 420 incidents of conflict in 2024, many in Ukraine and the Middle East.
www.latimes.com
November 27, 2025 at 8:17 PM
“The year featured a record number of violent incidents over water around the world, far surpassing the 355 in 2023, continuing a steeply rising trend. The violence more than quadrupled in the last five years.” www.latimes.com/environment/...
Portugal: the usual, house prices. Plus, this week, enslaved immigrants that were being held under "short leash" on the farms by Police officers (the criminal organization is now dismantled), but that's for another post. www.euronews.com/business/202...
Cost of housing per square metre hits all-time high in Portugal
The lack of affordable housing has become a pressing issue for Portugal's government, headed by Prime Minister Luís Montenegro. A shortage of stock continues to push prices up, while high foreign dema...
www.euronews.com
November 27, 2025 at 11:34 PM
Portugal: the usual, house prices. Plus, this week, enslaved immigrants that were being held under "short leash" on the farms by Police officers (the criminal organization is now dismantled), but that's for another post. www.euronews.com/business/202...
Reposted by MMT Portugal
We have two scholarship opportunities relating to our Graduate Economics of Sustainability program (MMT and ecological economics).
1) Up to 10 Global South Scholarships every trimester covering 90% of tuition fees leading to the 4-subject Graduate Certificate, for February, June or September start.
1) Up to 10 Global South Scholarships every trimester covering 90% of tuition fees leading to the 4-subject Graduate Certificate, for February, June or September start.
November 27, 2025 at 12:31 PM
We have two scholarship opportunities relating to our Graduate Economics of Sustainability program (MMT and ecological economics).
1) Up to 10 Global South Scholarships every trimester covering 90% of tuition fees leading to the 4-subject Graduate Certificate, for February, June or September start.
1) Up to 10 Global South Scholarships every trimester covering 90% of tuition fees leading to the 4-subject Graduate Certificate, for February, June or September start.
Reposted by MMT Portugal
Giving in to authoritarianism rather than sticking up for free speech. What has become of the BBC?
I wish I didn’t have to share this. But the BBC has decided to censor my first Reith Lecture.
They deleted the line in which I describe Donald Trump as “the most openly corrupt president in American history.” /1
They deleted the line in which I describe Donald Trump as “the most openly corrupt president in American history.” /1
November 25, 2025 at 1:02 PM
Giving in to authoritarianism rather than sticking up for free speech. What has become of the BBC?
It's possible to send to prison ex-Predidents for coup plots.
Brazil: Bolsonaro starts serving 27-year prison sentence for coup plot
Brazil's former leader has exhausted his appeals and will start his prison term at a police station in Brasilia.
www.bbc.com
November 25, 2025 at 8:54 PM
It's possible to send to prison ex-Predidents for coup plots.
The EU commissioner Maria Luis Albuquerque wants everybody in EU to have a hybrid social security pension scheme (public + private) because public pensions might be at risk in the future. Let's recall what Alan Greenspan said. Private finance also needs bailouts by governments every now and then.
Greenspan: "There is nothing to prevent the government from creating as much money as it wants."
YouTube video by wonkmonk
www.youtube.com
November 24, 2025 at 10:00 PM
The EU commissioner Maria Luis Albuquerque wants everybody in EU to have a hybrid social security pension scheme (public + private) because public pensions might be at risk in the future. Let's recall what Alan Greenspan said. Private finance also needs bailouts by governments every now and then.
Reposted by MMT Portugal
When a government speaks responsibly about climate risks. Iceland's climate minister Jóhannsson:
"We believe that confronting climate tipping points and the risks they pose openly is not a sign of 'pessimism' or 'alarmism' but a sign of realism and responsibility."
youtu.be/B-0eQnEEsYA?...
"We believe that confronting climate tipping points and the risks they pose openly is not a sign of 'pessimism' or 'alarmism' but a sign of realism and responsibility."
youtu.be/B-0eQnEEsYA?...
After COP30 Fire and Floods: AMOC Shutdown
YouTube video by International Cryosphere Climate Initiative
youtu.be
November 23, 2025 at 6:43 PM
When a government speaks responsibly about climate risks. Iceland's climate minister Jóhannsson:
"We believe that confronting climate tipping points and the risks they pose openly is not a sign of 'pessimism' or 'alarmism' but a sign of realism and responsibility."
youtu.be/B-0eQnEEsYA?...
"We believe that confronting climate tipping points and the risks they pose openly is not a sign of 'pessimism' or 'alarmism' but a sign of realism and responsibility."
youtu.be/B-0eQnEEsYA?...
Reposted by MMT Portugal
“The lifetime emissions generated by every 3.5 Americans today will kill one person by the end of the century.”https://www.project-syndicate.org/commentary/measure-climate-progress-in-lives-improved-by-gernot-wagner-2025-11?
How to Measure Climate Progress
Gernot Wagner thinks tackling the problem is justified on social and economic grounds, not existential ones.
www.project-syndicate.org
November 24, 2025 at 3:07 AM
“The lifetime emissions generated by every 3.5 Americans today will kill one person by the end of the century.”https://www.project-syndicate.org/commentary/measure-climate-progress-in-lives-improved-by-gernot-wagner-2025-11?
Reposted by MMT Portugal
Monday's blog post (24/11) is now posted (15:23 EAST) - Corporate welfare is rife in Japan’s banking sector - billmitchell.org/blog/?p=62931
Corporate welfare is rife in Japan’s banking sector – William Mitchell – Modern Monetary Theory
billmitchell.org
November 24, 2025 at 4:23 AM
Monday's blog post (24/11) is now posted (15:23 EAST) - Corporate welfare is rife in Japan’s banking sector - billmitchell.org/blog/?p=62931
Reposted by MMT Portugal
“All of us must do our part and subject world leaders to extreme and relentless public pressure.”
— @doctorvive.bsky.social
@gchalliance.bsky.social @docsforclimate.bsky.social
@mason4c.bsky.social
— @doctorvive.bsky.social
@gchalliance.bsky.social @docsforclimate.bsky.social
@mason4c.bsky.social
Another Cop wrecked by fossil fuel interests and our leaders’ cowardice – but there is another way | Genevieve Guenther
The fingerprints of Russia and Saudi Arabia are all over the decision text in Brazil. But a group of nations led by Colombia and the Netherlands offer hope, says End Climate Silence founding director ...
www.theguardian.com
November 24, 2025 at 12:39 PM
“All of us must do our part and subject world leaders to extreme and relentless public pressure.”
— @doctorvive.bsky.social
@gchalliance.bsky.social @docsforclimate.bsky.social
@mason4c.bsky.social
— @doctorvive.bsky.social
@gchalliance.bsky.social @docsforclimate.bsky.social
@mason4c.bsky.social
Reposted by MMT Portugal
The US and Israel vote AGAINST banning torture.
I wouldn't be surprised if other countries inflict torture undercover.
However, doesn't it reveal so much that there are only three countries that have the audacity and confidence to blatantly proclaim their approval of torture?
I wouldn't be surprised if other countries inflict torture undercover.
However, doesn't it reveal so much that there are only three countries that have the audacity and confidence to blatantly proclaim their approval of torture?
November 23, 2025 at 7:50 AM
The US and Israel vote AGAINST banning torture.
I wouldn't be surprised if other countries inflict torture undercover.
However, doesn't it reveal so much that there are only three countries that have the audacity and confidence to blatantly proclaim their approval of torture?
I wouldn't be surprised if other countries inflict torture undercover.
However, doesn't it reveal so much that there are only three countries that have the audacity and confidence to blatantly proclaim their approval of torture?
Obviously the tech-ninjas' operations at the US FED were violating a serious amount of legal requirements. Without knowing details I would bet on crimes leading to inprisonment. However, the mastermind of these FED operations was Mr. Musk who will have to answer 1 - who gave the orders and 2 - why.
'Suddenly exposed' DOGE employees fear prosecution after Musk abandoned them: report
www.rawstory.com/doge-employe...
www.rawstory.com/doge-employe...
'Suddenly exposed' DOGE employees fear prosecution after Musk abandoned them: report
Current and former Department of Government Efficiency (DOGE) staffers are growing increasingly concerned that the work they did slashing government programs and eliminating jobs will come back to hau...
www.rawstory.com
November 22, 2025 at 9:42 PM
Obviously the tech-ninjas' operations at the US FED were violating a serious amount of legal requirements. Without knowing details I would bet on crimes leading to inprisonment. However, the mastermind of these FED operations was Mr. Musk who will have to answer 1 - who gave the orders and 2 - why.
Reposted by MMT Portugal
After two weeks of #COP30 negotiations, countries agreed to BEGIN DISCUSSIONS on fossil fuel phase out. And as the article says, "they achieved this incremental progress only in the teeth of implacable opposition from oil-producing countries."
THIS is the problem with requiring unanimous decisions.
THIS is the problem with requiring unanimous decisions.
End of fossil fuel era inches closer as Cop30 deal agreed after bitter standoff
Wealthy countries agree to triple funds for countries to tackle climate impacts, but deforestation and critical minerals blocked from final deal
www.theguardian.com
November 22, 2025 at 6:52 PM
After two weeks of #COP30 negotiations, countries agreed to BEGIN DISCUSSIONS on fossil fuel phase out. And as the article says, "they achieved this incremental progress only in the teeth of implacable opposition from oil-producing countries."
THIS is the problem with requiring unanimous decisions.
THIS is the problem with requiring unanimous decisions.
Reposted by MMT Portugal
“What once sounded unthinkable is now being said openly: Tehran is not viable; and evacuation orders are imminent.
As I wrote before, President Masoud Pezeshkian himself said that it might be necessary to relocate Tehranis in large number.” open.substack.com/pub/peterfra...
As I wrote before, President Masoud Pezeshkian himself said that it might be necessary to relocate Tehranis in large number.” open.substack.com/pub/peterfra...
Makran or Bust: Tehran's water crisis gets worse
Ten days ago I wrote that Tehran was approaching a point where warnings, pressure cuts and appeals to save water would no longer be enough.
open.substack.com
November 22, 2025 at 9:06 PM
“What once sounded unthinkable is now being said openly: Tehran is not viable; and evacuation orders are imminent.
As I wrote before, President Masoud Pezeshkian himself said that it might be necessary to relocate Tehranis in large number.” open.substack.com/pub/peterfra...
As I wrote before, President Masoud Pezeshkian himself said that it might be necessary to relocate Tehranis in large number.” open.substack.com/pub/peterfra...
Reposted by MMT Portugal
New @dataforprogress.org polling shows a majority of US voters (55%) SUPPORT the phaseout of fossil fuels, including a majority of Dems (74%), voters under 45 (69%), and Independents (57%).
@governor.ca.gov @rokhanna.bsky.social @govpritzker.illinois.gov @chrismurphyct.bsky.social @aoc.bsky.social
@governor.ca.gov @rokhanna.bsky.social @govpritzker.illinois.gov @chrismurphyct.bsky.social @aoc.bsky.social
November 21, 2025 at 6:50 PM
New @dataforprogress.org polling shows a majority of US voters (55%) SUPPORT the phaseout of fossil fuels, including a majority of Dems (74%), voters under 45 (69%), and Independents (57%).
@governor.ca.gov @rokhanna.bsky.social @govpritzker.illinois.gov @chrismurphyct.bsky.social @aoc.bsky.social
@governor.ca.gov @rokhanna.bsky.social @govpritzker.illinois.gov @chrismurphyct.bsky.social @aoc.bsky.social
Reposted by MMT Portugal
🚨 Postdoctoral opportunities! 🚨
Hello #econsky! We are hiring 2 postdocs in the department of economics at UCalgary for those working in *electricity economics*
Term: 2 years
Pay: $80,000/yr + benefits + $10k research allowance
Start: July 2026
Details in next two posts 👇
Hello #econsky! We are hiring 2 postdocs in the department of economics at UCalgary for those working in *electricity economics*
Term: 2 years
Pay: $80,000/yr + benefits + $10k research allowance
Start: July 2026
Details in next two posts 👇
November 21, 2025 at 9:04 PM
🚨 Postdoctoral opportunities! 🚨
Hello #econsky! We are hiring 2 postdocs in the department of economics at UCalgary for those working in *electricity economics*
Term: 2 years
Pay: $80,000/yr + benefits + $10k research allowance
Start: July 2026
Details in next two posts 👇
Hello #econsky! We are hiring 2 postdocs in the department of economics at UCalgary for those working in *electricity economics*
Term: 2 years
Pay: $80,000/yr + benefits + $10k research allowance
Start: July 2026
Details in next two posts 👇
No worries. In EU there are plenty of "responsible budgets" and "frugal finances". That will get us all safe surely.
Many people think about cold in Northern Europe if the Atlantic Ocean current system #AMOC fails. But that wouldn’t be the only problem for Europe by far.
This new study shows that severe drought is another one. 🌊
This new study shows that severe drought is another one. 🌊
📢 New paper on the impacts of AMOC collapse on European hydroclimate. 🌊
We find an AMOC collapse would exacerbate drought conditions across Europe, linked to reduced precipitation. In combination with climate change droughts are expected to become more frequent and severe.
doi.org/10.5194/hess...
We find an AMOC collapse would exacerbate drought conditions across Europe, linked to reduced precipitation. In combination with climate change droughts are expected to become more frequent and severe.
doi.org/10.5194/hess...
November 22, 2025 at 10:33 AM
No worries. In EU there are plenty of "responsible budgets" and "frugal finances". That will get us all safe surely.