Patricia
@PatriciaNPino
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PhD candidate @IIPP_UCL . Chartered Engineer. Co-host of @MMTPodcast . Associate @GowerInitiative . @patriciapino @econtwitter .net on Mastodon.
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Joined May 2011
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"Corbyn forgot his numbers so I'm going to vote for the woman who wants to starve my children"- said no woman ever
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Greece was never bailed out. They bailed out German & French banks, who held Greek debt. This stabilized Germany & Frances economies post crisis, while the Greek ppl were punished w severe cuts and forced to run a fiscal surplus. They never saw the money.
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Remember when the Tories were congratulating Labour on getting a “sensible” leader in Starmer?
This is why.
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Am I reading this right? The minimum sentence for raping a human being is 5 years but the sentence proposed for vandalising an object made of stone and metal is 10 yrs?
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I’m glad Trump is likely to be gone but remember Trump wasn’t the problem, he was a symptom of a problem that was created by politicians like Biden.
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I voted Remain. Partly out of loyalty to my European friends. But I am now convinced that leaving is the Pro-European position. The
#EU
is a destructive force for all citizens of Europe. And the sooner it disbands the better. We need internationalism not corporate globalism.
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.
@MattHancock
praising the veteran who has raised &7m for the NHS. He shouldn’t have had to do that. Your cruelty and neglect forced him to do it.
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If people want to learn how macro-economics and central banks work. They can start with Rule 11 of Monopoly.
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If you think the Tories mismanaged the economy why are you adopting their austerity policies?
The Conservatives left us with the worst inheritance since the Second World War.
Today I will set out how this new Labour government will fix the foundations of our economy, so we can rebuild Britain and make every part of our country better off.
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Ppl are looking through Corbyn's old tweets like they do with Trump's. Except JC's r full of wisdom and we all wish we'd listened to them.
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Worth reminding people: If you’re a worker, a pay rise for nurses is not a cost to you, it is a benefit.
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This is a job for a human. And make it a well paid one too.
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I have to live in this City & I know 2 things: Conservatives have neglected MY safety & If we had all listened to Corbyn I would be safer.
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The bailout allowed Germany & French Govts 2 keep political face in their countries (They had lost control of banks lending in the run up to the crisis), While presenting Greece as lazy & irresponsible.
They also promoted the narrative that they were “saving” Greece.
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And the cause of the crisis is the make up of the Eurozone itself. Which was designed to generate these conditions and imbalances of trade.
And rules out using fiscal policy as a means to bring a country back from recession.
It’s market fundamentalism on steroids.
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The Greek were forced to accept the terms of the bailout with threats of closure of banks, immediate cut of subsidies,etc. When ElectedGovts didn’t comply, They replaced them.
Hundreds/thousands have died & Greece’s public assets have been pillaged by profit hungry corporations
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This may surprise a lot of Liberals but poverty can never be solved through charity like you propose.
It is solved through giving people Rights, which is what Corbyn was trying to do, and which you undermined.
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Austerity is the transfer of power from public institutions serving the community to private interests concerned primarily with profit. No clearer example of this. The Science Museum should not need corporate sponsorship for any of its exhibitions.
Exclusive: The Science Museum has signed a gagging clause in its agreement with Shell International to sponsor its climate change exhibition, agreeing to take care not to say anything that could damage the company’s reputation, Channel 4 News has learnt.
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Austerity is not a consequence of Brexit
Austerity is not a consequence of Brexit
Austerity is not a consequence of Brexit
Austerity is not a consequence of Brexit
Austerity is not a consequence of Brexit
Austerity is not a consequence of Brexit
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The lockdown in itself does not lead to unemployment. Lack of Government support leads to unemployment.
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I’ve heard this a couple of times so I will clarify:
Thd Bank of England is not just a “patient creditor” to the Government.
The Bank of England is owned by the Government. It does as it’s told. Even when institutional arrangements make it seem as if it does not.
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Has Kier Starmer said anything yet against Sunak’s obsession with austerity? Say what you like about Corbyn but he wouldn’t have let the Tories get away with that again. That’s why they needed him out.
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For anyone who is relaxed about the idea of privatized health care. Trust me, you don't want it. Being pushed by insurance companies into letting your elderly relatives die because they wish to maximize profits, is one of the most traumatic experiences my family has been through.
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The Financial Times has basically said today, that Corbyn’s 2015 policy “Peoples QE” which was mocked so much and which was then replaced by the “fiscal credibility rule” crowd in favour of something which sounded more credible to bankers, was actually right all along.
The FT says its time for the Bank of England to start direct funding of the government: modern monetary theory has won the day
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I don’t think it should be difficult to make a case for a pre-emptive ban on space tourism due to its immense carbon footprint.
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@Baddiel
The 1975 referendum had nothing to do w the EU which was formed in 1993 with the maastricht treaty. Neither were we given a referendum on the Lisbon treaty, bc Blair knew it wouldn’t pass.
#twistinghistory
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Just to be clear. The institutions/think tanks that maintain the relevance of mainstream economic theory are not science centres, they are lobbying groups.
And Mainstream economists are not scientists. They are lobbyists.
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I can’t emphasise enough how mistaken the view that you cut Govt spending to grow the economy is.
The economy depends on Government spending. Without it you get a downward wage spiral, lower wages lead to lower sales lead to lower wages… ad infinitum. There is no equilibrium.
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Why have elections? Let’s just do whatever the bond holders want.
Labour could borrow more without UK bond market backlash, say investors
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@NadineDorries
They obviously don't need to breathe. Boris made the air in this city so polluted, as an asthma sufferer I was scared of him being mayor.
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When people say that Corbyn will “bankrupt the country” I’m not sure they understand what a bankrupt country looks like.
A politician hysterically claiming “there is no money left” isn’t bankruptcy.
Poverty, homelessness, food banks. That’s what a Bankrupt country looks like.
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Surely this means the minimum wage should be at least £90,000
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Sunak wanting to freeze benefits and public sector pay to ‘balance the books’ when unemployment is expected to rise to over 4 million is about the most reckless action possible. These are 4 million souls, and he’s prioritising numbers on a spreadsheet.
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Growth is a result of government spending/investment. Not the other way around.
Jonathan Reynolds explaining that the next Labour govt won't invest in and rebuild our public services after 13 years of Tory cuts unless they increase economic growth first.
#BBCLauraK
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@Conservatives
Your incompetence caused it. The poverty, the crisis of health and social care, you did this willingly
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I get why ppl say this Leadership election is hard. But Stammer should be an easy ‘NO’. He’s largely responsible for Labours defeat. Why would anyone reward him for alienating big chunks of our base support? Can someone explain the thought process that gets you there?
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If the “eat out to help out” campaign shows something is that Capitalists are happy to accept Government subsidised consumption if it will ultimately increase their profits without empowering workers.
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Omg. it really didn’t.
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I never thought I’d see the Chancellor of the Exchequer predict unemployment and poverty with a smirk. As if he wasn’t directly responsible for any of it.
#recession
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Sorry to disappoint the enthusiasts but Crypto is not a currency, it’s a commodity. Like gold, like postal stamps, just in digital form. And like any other commodity, it’s price is denominated in units of an actual currency. Usually $.
Thank you for your attention.
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Colleague at work:
“There is really no party I can vote for, they are all awful this election”
Me:
“Labour are offering a 4-day week.”
Him:
“Well I’m voting for them, then. DONE.”
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The European Commission has suspended the Fiscal rules of the growth and stability pact. This is huge.
It will show that:
1) these fiscal rules are nonsense
2) will expose the ideology of national govts w regards to austerity.
🇪🇺 La Comisión Europea ha activado la cláusula de escape del Pacto de Estabilidad y Crecimiento
Acaba así una era.
Es el fin de la austeridad.
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Ok, can we at least agree that society is having a little trouble with the definition of “Left wing”?
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Trump would declare nuclear war and destroy half the earth before he admits he did anything wrong wouldn’t he?
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There is no such thing as ‘tax-payers money’, there is only Public Money.
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Reminder that our ‘hard won workers rights’ were won through democracy. Not handed down by Brussels commissioners. The best way to safeguard them is more democracy. Not less.
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Terms like “borrowing” or “saving” are simply not applicable to the Government which creates money as it spends it and so has no need to “borrow” or “save”. Bonds are saving accounts the Government holds for the private sector. They don’t fund anything.
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@RoryStewartUK
OR you could hire ppl to provide mental health related services. You know. Decent employment, With wages and everything.
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We’ve elected Nick Clegg
I’m calling on the Government to publish its exit strategy.
I’m not calling for precise timings, but the strategy. This is incredibly difficult on people and we need to know that plans are in place, and what they are.
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Today was the first time I was eligible to vote in a GE. And I'm very happy to have given my vote to
@EmilyThornberry
&
@jeremycorbyn
🌹
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I've been thinking about this and literally, the worst thing that could happen to this country, is the Conservatives
#GE2017
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Encouraging people to do work unpaid is not “altruistic”. The Govt is not a charity, and perfectly capable of paying for more NHS staff. This is veiled support for austerity.
This is crusading, altruistic, socially responsible journalism at its finest. (And If you’d told me a year ago I’d be saying that about the Mail, I’d’ve laughed in your face.)
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Mason suggests Kier Stammer or Emily Thornberry for next leader. No lessons learnt whatsoever.
Why does his opinion still hold any credibility anyway? Either the Labour Party disowns him or The Labour Party has no hope.
My comments on BBC Election 2019 - what next for Labour?
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Austerity isn’t about how big the Govt deficit is. Deficits aren’t inherently good or bad. Austerity is a deliberate undermining/underfunding of public purpose to the benefit of private interests.
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It’s simply not possible for the chancellor to be “short of money”.
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Some say LP members should feel bad our MP’s r leaving.
I disagree. These MP’s never respected the membership. They would kick us all out if they could. & given half the chance would change rules to prevent us from electing our leader. I’m not sad in the slightest.
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There is a magic money tree. Except it is shaped as a computer in the BOE. There is no “balancing the books” excuse to keeping nurses pay low. It is a political choice disguised as economics. There will be serious consequences if we condemn our most essential workers to poverty.
There is no magic money tree. The economy is in tatters. Profligate spending will have consequences. Read more:
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I’ll be voting
@RichardBurgon
✊and
@RLong_Bailey
this
#LabourLeadership
election.
Yes, there is a good chance the Right of the party will still take us back to the deep end of neoliberalism. But I’m not about to give them an easy ride.
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The belief the economy has to grow before we can have decent public services is driving us into a death spiral. Makes every progressive objective dependent on capital. The Govt *funds itself*. All we have to worry about is whether there are enough workers to do the job.
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“it’s no longer possible for me to look away from the tragic toll being exacted on 11 million Greeks [...] what is happening is without precedent in EU history: the deliberate, slow destruction of a small and vulnerable society of fellow Europeans”
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Mr Sugar calling the working class losers. It’s good when the rich drop all pretences of being against class war. People see them for what they really are.
Yes they had more
members as the idiot Ed Milleband made Labour nembership fee £3 . This attached all the jealous non achievers
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He creates low-income families.
Jeff Bezos announced the first Bezos Academy, a free preschool for students from low-income families by
@AngelAuYeung
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A word of warning: Mainstream economics does not understand inflation, fails to consider its distributional effects, and applies the same solution universally, which is always to create unemployment.
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Has it ever occurred to centrists that the scarcity they have embedded their heads into is not real?
Who wants to vote for people who think nothing substantial can be done to improve ppls lives?
Vince Cable: ‘Stop pretending to be Santa handing out shiny presents and have a serious debate about spending’
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French economic minister:
“We must speed up the reduction of taxes. But for that we must speed up the decrease in public spending.”
Yep, they still don’t get it.
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Your periodic reminder that the UK has never run out of £‘s and never will.
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Get it right:
Venezuela’s economic woes are the result of Colonialism, not Socialism.
Zimbabwe’s Hyperinflation was the result of unsuccessful land reforms, not Govt spending.
Weimar’s hyperinflation was the result of crippling war reparations, not Govt spending.
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MMT is extremely easy to understand in its basic form and because of that it is a perfect antidote to the Government budget ‘household analogy’ that has so poisoned economic discussion for decades.
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Any “Left wing” politician that claims “there is no magic money tree”, has no understanding of how the monetary system works.
They are simply parroting slogans the Right wing told them were true in the hope they gain their approval.
It is spineless and weak. Hopeless.
A labour candidate saying there’s no ‘magic money tree’.
This is after the Tories run a £300 billion deficit. You really can’t make this stuff up.
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I get why lefties r deciding to stay in Labour & I respect that decision. But I don’t think a Kier Stammer govt would be good for the wc or for Labour. So I can’t stay.
I don’t think that resigning ourselves to the lesser of 2 evils is good enough. We need to find another way.
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I am delighted to announce that I have been accepted into
@IIPP_UCL
to complete a Doctoral Research Programme looking at inflation dynamics to inform non-monetary policy design.
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Reminder that The UK Govt wasn’t “bankrupt” after the 2008 crash.
The Govt bailed out the banks, not the other way around. And austerity was neither necessary nor good.
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Having dinner with the MMT crowd in Poznań discussing how far the movement has come in a decade. The enthusiasm of students and activists organising around the world to learn and teach MMT is truly inspiring and fills me with hope. I believe
#MMT
is now unstoppable.
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I'm sorry Theresa May fans but a Politician who arms and funds our enemies is not fit to be PM.
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My hope is that if donations go high enough JC will use what remains to form a new political party.
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Dear Left, I beg you. Snap out of your unconditional love for
#EU
institutions. The EP is a sham of democracy. A mere facade.
You do not elect your law makers in Europe!
So they rely on propaganda to keep you from that reality. These are games they play time and time again.
Appeal to EP: You should be open to a long extension, if the UK wishes to rethink its strategy. 6 million people signed the petition, 1 million marched. They may not feel sufficiently represented by UK Parliament but they must feel represented by you. Because they are Europeans.
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When someone is so happy to welcome you a opposition. It is because he thinks you’re no opposition at all.
Congratulations to
@Keir_Starmer
. An honourable, compassionate, public servant. Right now - more than ever in recent memory - the country needs an Opposition working in the national interest. Something he is very able to provide.
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Those praising Theresa May for being “resilient” never once praised Corbyn for surviving a coup, a leadership challenge, outlasting David Cameron, and giving
#Labour
its greatest victory since 2001.
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If you’re a small business owner.
#Labour
’s investment and minimum wage rises will make you wealthier by increasing the disposable income of your customers.
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The same MP’s that gave themselves a pay rise a week ago have today denied children food on the basis of budgetary concerns. How is anyone even capable of such a thing?
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It appears there’s no manifestation of working class discontent that the establishment won’t try to portray as Russian political infiltration.
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Why would so many News outlets fail to communicate to the public that the Bank of England is owned by the Government?
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Did Theresa May just use her speech to brush off responsibility for her record in the security of this country? Who is she scapegoating?
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Im glad neoliberalism is finally being exposed for what it is: An extremist cult of the market. It's followers now struggling to justify it
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@AaronBastani
Battersea had 15 min queues this morning. Friends telling me they've never seen that before.
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I don’t know what’s worse. Right wing neoliberal economists who think unemployment is a result of people being lazy. Or self proclaimed left wing neoliberal economists who just think unemployment is inevitable.
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