mythsout.bsky.social
85 posts
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Time to strike the gong on this act.
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Much as I support Armine in what she does. The problem is that economists aren't accountants. When we spend, we spend an asset. Taxes collected in $CAD are not, and never can be, an asset for the federal govt. The implications for her borrow/spend argument are profound.
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Looks like Poilievre is a slave to a defunct economist.
(I may be paraphrasing someone when I say that).
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Taxes are not an asset for the currency issuer. This is why the currency issuing government is not like a household.
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I won't cry if bond sepeculators bloody Trump's nose.But the myths about govt bonds as like "household debt" have contributed significantly to the emiseration of North Americans. The biggest threat isn't a bunch of socialists in Beijing, it's the capitalists on Wall St & Bay St
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Post Office banking, a great way to address the "unbanked" problem. Japan has a very successful model that could be copied.
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The credit agencies rated sub prime mortgages triple AAA. When challenged, after those imploded in the GFC, the agencies defense was that they just give an opinion. Caveat emptor.
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Ratings reflect the ability of the government to pay its obligations. A currency issuing government can always pay its bills. As such the USA is always AAA as long as Congress approves payment.
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When will the Liberals stop trying to be Conservatives. Start with what Canadians need and provide the programs that meet those needs.
#MMT provides a blue print, use it.
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What would it take to unseat the overstuffed turkey in the Etobicoke riding?
Fan joy did it.
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Instead of focusing on labour, perhaps the CBC should focus on the developer.
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Quite brilliant, differentiating between "money" as in monetary aggregate, and account balance.
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Trump and his cabinet.
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Elon Musk's control of Twitter is dangerous. Will Carney Liberals ban Twitter in Canada? A right wing American hedge fund owning over 50% of Canada's newspapers is dangerous, Will the Liberals reverse Harper's decision to allow the Americans to buy Post Media?
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Fascism can be stopped.
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Liberl PM Jean Chretien was proud of the fact he could only speak out of one side of his mouth. That's not true of all Liberals.
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They are US treasuries. That's a card for Trump to play.
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Why are the police standing around as props for a politician and a political party?
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Carney's primary objective should be to bring in legislation that cuts deeply into the Conservative's support. Canada does not need "Team Trump" in the P.M'S office.
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The federal government should make political donations by corporations a criminal offense. the last thing we need in Canada is "Citizens United".
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He shouldn't forget the surging Conservative vote.
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Perhaps the NDP could make their support contingent on lowering the seats required for party status.
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A massive investment in public (non-market) housing, a federal job guarantee, an industrial strategy for a sovereign Canada. The biggest threat to Canadians isn't a fiscal deficit or a "national debt", it's PeePee, and he won't resign, he's salivating as he smells power.
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Although the Liberals have the most seats, Canadian voters have opened a channel for facists to take power. The blue splashed across the Canadian political map is scary. But fake populism can be beaten with real populism. 1/2
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Hitting bottom may finally cause the NDP to abandon the Conservative narrative of "taxes fund the currency issuer". A progressive political party with policies based on an understanding of MMT would offer real choice to voters.
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The 5th column in Canada is well financed, and politically powerful. Canadians don't realze how close they are to losing their sovereignty.
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Will Bessent be investigated by the SEC?