UK gilts are "debt", right? Rising yields mean we're "running out of money"? Wrong. The Bank of England is currently imposing a £133bn self-inflicted wound on the public purse — and calling it "monetary discipline". Here's the MMT reality 🧵👇

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The austerity mindset traps our politics in a death spiral of exclusionary violence: there is not enough to go round; ‘responsible’ leaders must make ‘tough choices’ about who to leave out. 1/3

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Still time to register for Patricia Pino's Job Guarantee talk, starting in 2 hours! #MMT #JobGuarantee events.humanitix.com/patricia-pin...

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MMT Richard Murphy recently published a critique of the core policy at the heart of MMT: the Job Guarantee. It was reasoned and balanced, but we believe misrepresented the Job Guarantee in key areas. Here is our response.

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Pressure will be on the @bankofengland.bsky.social tomorrow to stop cutting rates in the face of price rises. But it should learn the right lessons from the Covid/Ukraine inflation - tightening monetary policy is the wrong appraoch to supply-side shocks like this. www.theguardian.com/commentisfre...

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