Skeptikal
@skeptikal1.bsky.social
"The Earth is the only world known so far to harbor life. There is nowhere else, at least in the near future, to which our species could migrate. Visit, yes. Settle, not yet. Like it or not, for the moment the Earth is where we make our stand." Carl Sagan
Reposted by Skeptikal
I say 'consumes labor' rather than 'creates jobs.' Jobs are a cost of production. The output is the benefit. This framing is highly counterproductive and keeps a lid on our real economic performance.
oilprice.com/Latest-Energ...
oilprice.com/Latest-Energ...
July 15, 2025 at 7:38 PM
I say 'consumes labor' rather than 'creates jobs.' Jobs are a cost of production. The output is the benefit. This framing is highly counterproductive and keeps a lid on our real economic performance.
oilprice.com/Latest-Energ...
oilprice.com/Latest-Energ...
Reposted by Skeptikal
July 9, 2025 at 1:25 AM
Reposted by Skeptikal
It's the blind leading the blind with no end in sight.
:(
:(
June 2, 2025 at 10:16 AM
It's the blind leading the blind with no end in sight.
:(
:(
Reposted by Skeptikal
1. "The misguided notion that selling government bonds is about raising funds for government spending is still widespread. However, a simple look at the mechanics of bond sales (as MMT reveals) dismantles that myth. No government money is raised in the act of
April 27, 2025 at 7:51 PM
1. "The misguided notion that selling government bonds is about raising funds for government spending is still widespread. However, a simple look at the mechanics of bond sales (as MMT reveals) dismantles that myth. No government money is raised in the act of
Reposted by Skeptikal
Wages will not keep up with the price increases. This is a major setback for working people.
April 3, 2025 at 8:48 PM
Wages will not keep up with the price increases. This is a major setback for working people.
Reposted by Skeptikal
Reposted by Skeptikal
The US is playing with fire, risking to find out the hard way that our real standard of living is massively dependent on net imports.
March 24, 2025 at 2:53 PM
The US is playing with fire, risking to find out the hard way that our real standard of living is massively dependent on net imports.
Reposted by Skeptikal
1. MMT tells us that Musk’s beliefs are not correct. The US Government cannot go bankrupt (unless the government itself decides it wants to or it decides it would rather make its purchases in a currency other than its own). Simply put, the US Government issues the US dollar.
March 16, 2025 at 6:15 PM
1. MMT tells us that Musk’s beliefs are not correct. The US Government cannot go bankrupt (unless the government itself decides it wants to or it decides it would rather make its purchases in a currency other than its own). Simply put, the US Government issues the US dollar.
Reposted by Skeptikal
New on MMT101 SubStack: An Explanation Of Why Taxes Don’t Fund Spending—And Why Elon Musk Is Wrong About The US Government Deficit
tinyurl.com/scah3mxt
#Economics #Musk
tinyurl.com/scah3mxt
#Economics #Musk
An Explanation Of Why Taxes Don’t Fund Spending—And Why Elon Musk Is Wrong About The US Government Deficit
MMT points out that currency-Issuing Governments, like the US and UK, don’t need tax income to finance their spending. That’s not to say they are not needed; they are an essential policy tool.
tinyurl.com
March 16, 2025 at 1:00 PM
New on MMT101 SubStack: An Explanation Of Why Taxes Don’t Fund Spending—And Why Elon Musk Is Wrong About The US Government Deficit
tinyurl.com/scah3mxt
#Economics #Musk
tinyurl.com/scah3mxt
#Economics #Musk
Reposted by Skeptikal
Proposal for UK:
US buys £500billion from BOE for its sovereign wealth fund.
UK spends all those $ on US exports.
Trump gets all their money and gets back all of his money
and the US trade deficit falls in one big beautiful all time great trade deal!
www.cnbc.com/2025/02/28/t...
US buys £500billion from BOE for its sovereign wealth fund.
UK spends all those $ on US exports.
Trump gets all their money and gets back all of his money
and the US trade deficit falls in one big beautiful all time great trade deal!
www.cnbc.com/2025/02/28/t...
Trump signals U.S. and U.K. could reach 'real trade deal' without tariffs
U.S. President Donald Trump signaled the U.K. could broker a "real trade deal" and escape tariffs.
www.cnbc.com
February 28, 2025 at 10:54 AM
Proposal for UK:
US buys £500billion from BOE for its sovereign wealth fund.
UK spends all those $ on US exports.
Trump gets all their money and gets back all of his money
and the US trade deficit falls in one big beautiful all time great trade deal!
www.cnbc.com/2025/02/28/t...
US buys £500billion from BOE for its sovereign wealth fund.
UK spends all those $ on US exports.
Trump gets all their money and gets back all of his money
and the US trade deficit falls in one big beautiful all time great trade deal!
www.cnbc.com/2025/02/28/t...
Reposted by Skeptikal
I'm taking a break from flying:
www.msn.com/en-us/news/u...
www.msn.com/en-us/news/u...
MSN
www.msn.com
February 28, 2025 at 11:00 AM
I'm taking a break from flying:
www.msn.com/en-us/news/u...
www.msn.com/en-us/news/u...
Reposted by Skeptikal
Economy got bit by a doge?
February 21, 2025 at 9:17 PM
Economy got bit by a doge?
Reposted by Skeptikal
Coercive taxation/current institutional structure brings out the worst in people, as evidenced by our political class/those who support them.
Constructive change begins with understanding monetary operations:
moslereconomics.com/mmt-white-pa...
Constructive change begins with understanding monetary operations:
moslereconomics.com/mmt-white-pa...
MMT White Paper - Mosler Economics / Modern Monetary Theory
Click Here for the White Paper on Modern Money Theory Italian Version Español
moslereconomics.com
February 18, 2025 at 4:50 PM
Coercive taxation/current institutional structure brings out the worst in people, as evidenced by our political class/those who support them.
Constructive change begins with understanding monetary operations:
moslereconomics.com/mmt-white-pa...
Constructive change begins with understanding monetary operations:
moslereconomics.com/mmt-white-pa...
Reposted by Skeptikal
If the gov hires anyone the private sector otherwise would not, any net real output adds that much to total real wealth.
February 18, 2025 at 2:41 PM
If the gov hires anyone the private sector otherwise would not, any net real output adds that much to total real wealth.
Reposted by Skeptikal
"Stephanie Kelton, the author of ‘The Deficit Myth’ tells us, that governments should not aim to balance the books; rather it should aim to balance the economy."
Modern Monetary Theory (MMT) in 67 Bullet Points tinyurl.com/29hhtu96
#Economics #StephanieKelton #DeficitMyth
Modern Monetary Theory (MMT) in 67 Bullet Points tinyurl.com/29hhtu96
#Economics #StephanieKelton #DeficitMyth
Modern Monetary Theory (MMT) in 67 Bullet Points
This is a working document. Although I am publishing it now, I intend to continue editing and adding to each of these bullet points over time.
tinyurl.com
February 14, 2025 at 9:46 AM
"Stephanie Kelton, the author of ‘The Deficit Myth’ tells us, that governments should not aim to balance the books; rather it should aim to balance the economy."
Modern Monetary Theory (MMT) in 67 Bullet Points tinyurl.com/29hhtu96
#Economics #StephanieKelton #DeficitMyth
Modern Monetary Theory (MMT) in 67 Bullet Points tinyurl.com/29hhtu96
#Economics #StephanieKelton #DeficitMyth
Reposted by Skeptikal
35 years ago today, one of the most ICONIC and profound images was taken.
the pale blue dot.
the pale blue dot.
February 14, 2025 at 7:34 PM
35 years ago today, one of the most ICONIC and profound images was taken.
the pale blue dot.
the pale blue dot.
Reposted by Skeptikal
Canada has a Soverign Currency System, same as the United States, it is literally impossible for Canada to go "Bankrupt". They create their own Money. #MMT youtu.be/yofpo88ipmo?...
MMT: Government Budgets Are NOT Like A Household
YouTube video by Deficit Owls
youtu.be
December 9, 2024 at 3:23 AM
Canada has a Soverign Currency System, same as the United States, it is literally impossible for Canada to go "Bankrupt". They create their own Money. #MMT youtu.be/yofpo88ipmo?...
Reposted by Skeptikal
There is no problem with a deficit so long as inflation is under control. It is actually a sign of a healthy economy. Slashing spending now would throw us into a massive recession. #MMT
December 18, 2024 at 9:47 AM
There is no problem with a deficit so long as inflation is under control. It is actually a sign of a healthy economy. Slashing spending now would throw us into a massive recession. #MMT
Reposted by Skeptikal
"Critics warn it will speed up insolvency of the Program" It is literally impossible for any Government Funded Program to go "Insolvent" #MMT Here is Alan Greenspan under Oath telling you so. youtu.be/DNCZHAQnfGU?...
Greenspan: "There is nothing to prevent the government from creating as much money as it wants."
YouTube video by wonkmonk
youtu.be
December 21, 2024 at 10:05 PM
"Critics warn it will speed up insolvency of the Program" It is literally impossible for any Government Funded Program to go "Insolvent" #MMT Here is Alan Greenspan under Oath telling you so. youtu.be/DNCZHAQnfGU?...
Reposted by Skeptikal
Reposted by Skeptikal
I wrote this the last time the US hit its self-imposed debt ceiling limit (Jan 2023). stephaniekelton.substack.com/p/the-debt-c...
The Debt Ceiling Limit is Destructive, Duplicative, and Dumb
If you’ve been reading or watching the news, then you know that the US hit its self-imposed debt ceiling limit of $31.381 trillion on Thursday, January 19.
stephaniekelton.substack.com
December 19, 2024 at 9:20 PM
I wrote this the last time the US hit its self-imposed debt ceiling limit (Jan 2023). stephaniekelton.substack.com/p/the-debt-c...
Reposted by Skeptikal
I remembered this great post by @drmitchpdx.bsky.social on the USPS from 2011. neweconomicperspectives.org/2011/09/late...
Latest in Deficit Terrorism: Postal Service Default
By Mitch Green Americans living in rural areas should brace themselves for a new dose of pain. As the USPS approaches the end of its fiscal year, where it will be unable to make payment of $5.5 bi…
neweconomicperspectives.org
December 16, 2024 at 9:51 PM
I remembered this great post by @drmitchpdx.bsky.social on the USPS from 2011. neweconomicperspectives.org/2011/09/late...
Reposted by Skeptikal
Rate hikes are stimulus checks for the rich.
"High-income households...also receive more interest and investment income during periods of higher interest rates, all providing a stimulus for sustained levels of spending." www.federalreserve.gov/econres/note...
"High-income households...also receive more interest and investment income during periods of higher interest rates, all providing a stimulus for sustained levels of spending." www.federalreserve.gov/econres/note...
A Better Way of Understanding the US Consumer: Decomposing Retail Spending by Household Income
The Federal Reserve Board of Governors in Washington DC.
www.federalreserve.gov
December 13, 2024 at 5:21 PM
Rate hikes are stimulus checks for the rich.
"High-income households...also receive more interest and investment income during periods of higher interest rates, all providing a stimulus for sustained levels of spending." www.federalreserve.gov/econres/note...
"High-income households...also receive more interest and investment income during periods of higher interest rates, all providing a stimulus for sustained levels of spending." www.federalreserve.gov/econres/note...
Reposted by Skeptikal
New piece by James Galbraith has strong parallels with what @nathantankus.bsky.social wrote recently. www.thenation.com/article/econ...
Why Bidenomics Was Such a Bust
A large majority of voters gave the Biden administration a failing grade on the economy. For the sake of future policy battles, it is worthwhile to try to understand their reasons.
www.thenation.com
December 9, 2024 at 8:31 PM
New piece by James Galbraith has strong parallels with what @nathantankus.bsky.social wrote recently. www.thenation.com/article/econ...