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What cupboard? This is nonsense. Every UK government since 1971 has printed money. Thats what fiat currency governments do. I hold no brief for Gordon Brown, as I understand from a guy I met at a recent economics conference, who had interviewed Brown for an economics podcast, that despite...

Don’t agree. Reserves? What reserves? Why would it need them as the producer of the “reserves” in the first place. They should control inflation by taxation and other fiscal measures, also by issuing national savings to take money out of the economy which appears to be overheating, but...

Big mistake hiking interest rates that high in an attempt to control inflation as a result of their booming economy. Reminiscent of the Thatcher government of the early eighties - although our economy wasn’t booming. They should set interest rates to 0%.

Russia can’t “run out” of money. No nation with its own fiat currency can run out of the thing which it is the monopoly producer of.

Take a look at this interesting discussion berween two professors of economics which backs up my view - presumably they are on glue too? The summary of the above is:- 1. The issue was fiscal and monetary policy not working in tandem 2. The outcome could have been predicted by an MMT...

Well introduce policies to ensure that there are a variety of media outlets as suggested in Corbyn`s 2019 Manifesto ;’p more diversity in the media as suggested in Corbyns 2019 manifesto

What happened to the other bottle, some of the contents having allegedly been used to coat the skripals door handle?

Alth Although I despise her politics , Truss should have stood her ground and withstood the machinations of the City

Let them go, we don’t want their undue influence on politics

Yes you could lower tax and increase spending

Firstly, governments dont borrow at all in the sense that a household does. Secondly QE had very little effect merely swapping bonds for reserves under the misguided assumption that increase reserves would encourage spending, when banks dont lend out of reserves. The Liz Truss debacle told us...

Somehow I knew you were going to say that, as if I havent heard this a million times before, If spending by "printing" money, which as I have already pointed out, is what all countries with fiat currencies do every day necessarily leads to high inflation then most developed countries would...

We are not `grappling` with a deficit - this is economic nonsense. Somehow Japan has continuously high deficits, high public debt, (around 200%) Mainstream economists predicted rising interest rates and bond yields, accelerating inflation and, inevitable government insolvency. All predictions...

The problem is many older people dont like the idea of claiming benefits because of the social stigma and because of the complications involved. Would you get rid of all universal benefits ?

Whats your evidence for this assertion?

Maybe so - tax increases or even tax cuts at the moment could be justified on equality, or health grounds. I fail to see what North Korea has to do with this discussion. The whole world doesnt have one view about what money is, nor how monetary operatons work within fiat based currency...

Yes it was on the gold standard then, but so what. Its still the law now, and hasnt changed. The BoE must make the payments when instructed to do so by Parliament irrespective of any payments made into the consolidated fund.

Indeed the government can`t run out of money but equally it can`t put as much money into the economy as it likes, without a job guarantee or taxation because of of infationary risks. The main thinking on this board seems to be the neo-liberal, household concept of goverment finances...

The government, "prints" new money every day whenever it spends. The Exchequer and Audits Department Act of 1866 gives parliament the powers to instruct the Bank of England to create new money via the consolidated fund whenvever it wants to spend. There is no connection between this and tax...

Its not "my" theory but is a well established economic school of thought which has a peer reviewed, body of work stretching back for over thirty years. taught in university economic Idepartments worldwide. I don`t remember "predicting" anything. MMT is an apolitical description of the current...