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I’m replying to other posters who are also making the the same point over and over again by maintaining that government economic policy should be regarded in the same way as a household but I suspect it’s a fundamental principle with which you concur

Truss’s tax cuts were wrong on equity grounds not because they are linked to government spending plans. There’s no “hole” the government is not like a household it doesn’t have to borrow in the way we do when our bank balance is overdrawn

Careful you’ll derail the thread! Also I think I’d prefer Professor Bill Mitchell as Chancellor and Warren Mosler as the head of the Bank of England.

So if anyone critiques the ifs approach to economic analysis of Truss’s economic policy they will be banned?

I’m trying to discuss Truss’s economic policy is that not allowed?

Not just me, as I and others have pointed out. More experienced and cleverer brains than the IFS have developed the MMT school of economic theory for over thirty years, and have held senior advisory roles, for example in the USA Professor Stephanie Kelton was at one time chief economist on the...

In what way is this derailing the thread. Could you explain?

The IFS is wrong. Tax doesn’t fund government spending so the comparison is meaningless

Like the family of Geoff Campbell from Hurstpierpoint who are talking legal action to reopen the inquest on the causes of his death? Should they be prosecuted too?

Alongside pretty much every American president since Kennedy, and Tony Blair

I haven’t run away don’t know what you’re on about. I suggest you read Warren Moslers summary of MMT as suggested by half time pies and for more detail of the specifics in the UK the excellent link I gave earlier

I’d heard that Zalinski had had peace talks earlier in the year brokered by Turkey but Boris told him not to

Why as it’s completely relevant. If you think Truss and Starners and indeed Corbyn cow-towing towards neo-liberal economic models and policies is right then defend it with the force of your argument

No but apart from the job guarantee MMT can inform other policy prescriptions

MMT only makes one policy prescription; introduce the job guarantee

Also Paul Macdonald and Bertie Lutton

Thanks and to appease the people who think I never comment about the Albion I think Mitoma is the best winger we’ve had since Tony Towner and Paul Brooker

MMT analysis is fundamentally opposed to what she is doing so it’s entirely relevant

Also a very detailed explanation of how UK government finance actually works I recommend An Accountancy Model of the UK Exchequer published by GIMMS www.gimms.co.uk. This is a meticulous ground-breaking paper which examines exactly how governments finances actually work

Not tangental at all if fundamental understanding of the way the real economy works is wrong!