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A lot of debate about MMT and international trade circles back to the phrase: “Exports are costs, imports are benefits.” Critics call this a dogmatic slogan—but that misses the point. 🧵(1/10)

Trump says that if it hadn’t been for subsidies, the US wouldn’t have a dominant player in EVs or space and satellite technology

Japan won’t take western rice because Japanese rice has massive cultural and historical significance to them. Stop shoving American rice down their throats.

Not so fun fact. Nazi Germany would post propaganda videos of Jewish folk at concentration camps enjoying their time there. To appease the more morally conscious Germans.

Richmond Fed president asks business leaders about Trump’s tariffs and learns that firms are “raising prices not because they have to, but because they think they can get away with it.” wsj.com/economy/tom-ba…

What flag is it now illegal to display? Metropolitan Police The proscription was for an organisation. Not a country.

The country doesn’t “earn” £’s. It has £’s a plenty. Please show the evidence that says that 100% of GDP in debt leads to bankruptcy.

My humble take on this is that doubling down on the very policies that have caused the current crisis of capitalism, in the context of a heavily armed civilian population is probably not a good idea.

Those speaking of government pension spending merely as a cost to the public purse are (once again) underestimating its wider impact on consumption, on business income and consequently on GDP.

The lesson from this should be : global shocks happen unexpectedly. Therefore You can’t set strict fiscal rules because you may be obliged to break them to keep the country stable and your electoral base happy. Ditch them. That’s it.

What the UK cannot afford is economic illiteracy and austerity

As government spending grows so do tax revenues. There is generally no need to argue about who is to pay more tax before spending takes place. Tax is part of a set of fiscal tools available to address inflation and inequality. It is a completely separate discussion.

The precarity of the UK economy has nothing to do with solvency. The UK has much *real* wealth. The precarity is brought about by the squandering of our wealth through the manufactured scarcity of money, by a govt that acts in the interest of the rentier (unproductive) class.

Is it a good time to remind people that almost every other time the US government achieved a budget surplus it was followed by a recession?