MMT economists don’t argue that governments should spend infinite amounts of public money as this would be inflationary. The spending however is not constrained by the need to fund expenditure either by taxation or “borrowing”. They argue that inflation can be controlled with a job guarantee and tweaks to taxation rather than by interest rates.
Most other countries didn’t have a corrupt, filibustering government that broke its own rules with a “let the bodies pile high” approach to the pandemic.
of course, we should be increasing taxes right now to deal with inflation. cant think why the politicans aren't going for that.
I made a similar point to the other fella who pushes MMT incessantly a few months back that I'm going to ask you shortly. Never did get a reply from the other fella, which I took to assume (given he was still banging on about MMT answering other peoples easier questions) that the answer would have been bad for MMT.
It didn’t help when we lost the Triple A rating so paying more and more interest.
Mid Sussex has a strong chance of going Lib Dem. The boundary has been redrawn, the strongest Tory vote has gone to the new EG and Uckfield constituency which is where the current Mid Sussex MP is scuttling off to. HH and BH went Lib Dem at the last local elections, Hassocks and Hurst are being folded into Mid Sussex and they are Lib Dem as well. Plus Tories lost control of Mid Sussex DC last month having had all 52 seats as recently as 2015. The tide is turning.
Not even that odious criminal **** Zahawi ? Oh no, he's calling for an abolition of inheritance tax.of course, we should be increasing taxes right now to deal with inflation. cant think why the politicans aren't going for that.
Ive never heard a MMT economist say that you can spend infinite money, you can't without potentially causing inflation.
It's quite funny up here. The new boundaries have sort of split the old core votes so that each half of a staunchly labour area has been stuck with a tory traditional, in my patch, we've been Lib Dem since 2005, so they've added the blue rural heartland - which would make it pretty close. But, because of the general swing away from the Tories, they are actually in danger of having no MPs in the county - much like when splitting into two unitaries last year - they lost all control quite spectacularly. Looks like we may go from 5 Tories and a Lib Dem, to no Tories at all. What a shame. And presumably completely the opposite of their hoped for outcome.
appreciate the link. the comment on infinte money was flippant, though this is a logical conclusion if taxes and debt aren't needed, gov can just ask the bank to issue money to them.
Yeah but Gordon Brown "sold all the gold" at rock bottom prices.
I’m not expecting it but I wouldn’t be that shocked if one of Horsham or Mid-Sussex went yellow, both saw strong returns in the locals (Horsham now a Lib Dem council I believe), it would need a lot to go against the Tories and no mini-revival, but it’s not as impossible as I think it might have appeared a decade ago.
One of the few genuinely progressive taxes out there, you can see why they hate it
So mimsey is running away again ? . She only became my mp in 2019 !....
But didn't Thatcher sell all our nationalised industries and the council housing stock at rock bottom prices
Absolutely. Ran from Eastleigh when she knew she would lose and doing it again. She waited to see how the local election results panned out and then made her choice.
I think you'l find that's been swept under the carpet But was actually Fantastic for the few, not the many. I think Jeremy Corbyn was a new MP back then. Therefore Must be his fault. . . . Yep. . . Just checked the Daily Mail news database. . . . Corbyn did it.
