Discover and read the best of Twitter Threads about #EachOneTeachOne
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The cat is out of the bag & the Fed Gov creates new money whenever it spends.
It's not tax payer dollars.
It's not just printing money.
Its just how it is.
It's not tax payer dollars.
It's not just printing money.
Its just how it is.
In fact, its completely the other way around!!!
The Federal Government funds tax payers, without which, they couldn't pay their taxes.
The Federal Government funds tax payers, without which, they couldn't pay their taxes.
So this should open your mind to a Green New Deal and many other long lost Hope's and dreams cast in the trash bin over fake cries of the nation being broke or having to "reduce the deficit".
Now you know better ...
Time to do better...
#LearnMMT #EachOneTeachOne
Now you know better ...
Time to do better...
#LearnMMT #EachOneTeachOne
Pretend you understand #MMT(Modern Monetary Theory) and look down at your child, knowing we have literally no time left to substantively reduce our carbon footprint and little time to stave off some of the more deleterious effects of climate change heading towards us. 1/x
You know that Congress and other sovereign currency issuing nations can simply spend what must be spent to save us all from disaster. Raising taxes isn't required to "fund* these efforts. Just political will and an informed, economically literate populous.
Now... pretend that the major parties are both corrupt and 3rd parties are steeped in economic illiteracy that edges up on at worst criminal negligence and the very least incompetence.
What do you do?
Now stop pretending.
That is what we are facing today.
What do you do?
Now stop pretending.
That is what we are facing today.
The Federal Reserve and the US Treasury have a consolidated Balance Sheet.
Let that sink in if you still think the Fed is private.
1/x
Let that sink in if you still think the Fed is private.
1/x
The Fed remits ALL profits back to the Treasury MINUS operating expenses.
When Congress writes and passes a bill, the Fed makes deposits from thin air to the Treasury's accounts to make payments. On demand. Out of thin air.
When Congress writes and passes a bill, the Fed makes deposits from thin air to the Treasury's accounts to make payments. On demand. Out of thin air.
Congress created the Federal Reserve in 1913. Period.
Article 1 Section 8 gives Congress the sole authority to power of the nations purse.
Article 1 Section 8 gives Congress the sole authority to power of the nations purse.
Memo to those holding on to Milton Friedman and even the New Keynesian frauds. 1/x
Social security isnt going broke
Your federal taxes do not pay for stuff
They are deleted.
Republicans didn't raid the social security trust fund
The National Debt is not Debt at all as we know it
Your federal taxes do not pay for stuff
They are deleted.
Republicans didn't raid the social security trust fund
The National Debt is not Debt at all as we know it
I've grown weary of problems without actionable solutions. We all know we are facing an environmental crisis. We all know this. Honestly? It will take a World War II level intervention to alter this significantly & a lot of diplomacy to engage other nations to do the same.
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Most folks talking about the environment lead you off a bridge to oblivion. They point out the problem, but couldn't answer how to fund an initiative like this. Most are still chasing Bitcoins and berries.
The truth is, the window is tightening.
It requires real solutions. Real solutions that require an understanding of how to mobilize resources but leveraging the public purse.
I gauge the efficacy of all environmental work by how they Marshall resources in their solutions.
It requires real solutions. Real solutions that require an understanding of how to mobilize resources but leveraging the public purse.
I gauge the efficacy of all environmental work by how they Marshall resources in their solutions.
An (un)official Real Progressives update:
Microsoft started in a garage. The Homebrew Computing Club.
Gates, Wozniak and Jobs were not exactly what you call... activists... then. They were visionaries.
They started with an idea. 1/x
@RealProgressUS @RP_In_Action
Microsoft started in a garage. The Homebrew Computing Club.
Gates, Wozniak and Jobs were not exactly what you call... activists... then. They were visionaries.
They started with an idea. 1/x
@RealProgressUS @RP_In_Action
Then they took certain steps to build the foundations of the idea... and began making the idea a reality
It took a lot of commitment when it was just an idea. A lot of people had to lift the heavy bags, turn the screws and pound the nails...
It took a lot of commitment when it was just an idea. A lot of people had to lift the heavy bags, turn the screws and pound the nails...
They didn't start out ruling the world. Nor did they do it alone. Nor was it w/out tireless efforts & lots of unpaid hours building the dream.
The same w/ @RealProgressUS ...
No, I am not comparing us with Microsoft, Apple or Google... I am merely pointing to a vital truth...
The same w/ @RealProgressUS ...
No, I am not comparing us with Microsoft, Apple or Google... I am merely pointing to a vital truth...
Know what’s wack?
Every time a Democrat is elected President, it comes after some Republican yahoo has ran up the deficit, started a war or FULLY spearheaded the rebirth of racism & white supremacy via a four letter cult.
1/
Every time a Democrat is elected President, it comes after some Republican yahoo has ran up the deficit, started a war or FULLY spearheaded the rebirth of racism & white supremacy via a four letter cult.
1/
The Democratic President gets in & gets right to work. They get as many laws passed—the kind that actually help people!—that disgruntled Republicans allow & work to fix the economy.
They are judged, ridiculed & doubted every step of the way — even by some fellow Democrats.
2/
They are judged, ridiculed & doubted every step of the way — even by some fellow Democrats.
2/
Democratic Presidents are never allowed to truly set an agenda & get busy implementing it on day 1 because they always have to clean up the 💩show from the previous GOP Administration.
Think about it. Do a deep dive if you must.
I’ll wait ‘cause I know what I said is true.
3/
Think about it. Do a deep dive if you must.
I’ll wait ‘cause I know what I said is true.
3/
State based medicare... under the best of circumstances, is a TERRIBLE idea, why?
Your state would create an unsustainable blue print set to fail and prove "socialism don't wurk" and it would kill healthcare.
There is no exception. It's simple economics.
Your state would create an unsustainable blue print set to fail and prove "socialism don't wurk" and it would kill healthcare.
There is no exception. It's simple economics.
The Feds issue the money. Healthcare is super expensive when you arent the currency issuer.
Pensions are Super expensive when are not the currency issuer.
Pensions are Super expensive when are not the currency issuer.
Earthquakes are super expensive when you are not the currency issuer
Wildfires are super expensive when you are not the currency issuer.
This isnt a feelings game.
Wildfires are super expensive when you are not the currency issuer.
This isnt a feelings game.
Pretend you understand #MMT (Modern Monetary Theory) and look down at your child, knowing we have less than 12 years to substantively reduce our carbon footprint massively to stave off some of the more deleterious effects of climate change heading towards us.
1/x
1/x
You know that Congress and other sovereign currency issuing nations can simply spend what must be spent to save us all from disaster. (Same with Healthcare and education amongst a host of basic needs left unmet)
Now... pretend that the major parties are both corrupt and 3rd parties are steeped in economic illiteracy that edges up on at worst criminal negligence and the very least incompetence.
What do you do?
Now stop pretending.
That is what we are facing today.
What do you do?
Now stop pretending.
That is what we are facing today.
Neoliberalism is about false scarcity, privatization, corporatism, bootstraps, identity politics, market solutions and profit. Not for humanity. For profit. For markets.
To eliminate public purpose spending and place the burden on those least capable of surviving. It breeds winners and losers and is focused on eliminating the state and pushing us all into private debt arrangements.
Progressivism is exactly the opposite of this. Actual REAL PROGRESSIVES are seeking public purpose spending, not tax payer dollars. REAL PROGRESSIVES are seeking inclusion and CITIZENS BENEFITS NOT MEANS TESTING.
You know how we artificially back our currency today? Taxation??? No, that is substantively how we do it today. No, the real answer is austerity. We back our currency by forced unemployment and misery.
What in the world would make "progressives" more focused on false evidence appearing real (F.E.A.R.) than the truth?
One can only speculate as the the "why" behind it.
Some basics.
The US Dollar is a tax credit.
It is a unit of measure.
You can't run out of inches
You can't run out of numbers
The government can't run out of dollars...
unless it purposely, politically chooses to.
1/x
The US Dollar is a tax credit.
It is a unit of measure.
You can't run out of inches
You can't run out of numbers
The government can't run out of dollars...
unless it purposely, politically chooses to.
1/x
Since the US Dollar is a mere tax credit and a unit of measure, it is neither precious nor permanent.
A dollar is an IOU.
When it is spent into existence a debt is born.
When it is taxed out of existence a debt is washed away.
A dollar is an IOU.
When it is spent into existence a debt is born.
When it is taxed out of existence a debt is washed away.
All money is debt.
So reducing the national debt means reducing the national money supply.
Dollars are not reused
A dollar is spent once into existence.
It circulates within the economy
Is destroyed once it is returned as a tax.
So reducing the national debt means reducing the national money supply.
Dollars are not reused
A dollar is spent once into existence.
It circulates within the economy
Is destroyed once it is returned as a tax.
Its tweets like this that we have heard time and time again, that shout at the problem and never go the xtra mile to learn the solution. I see friends liking the bridge to oblivion posts & wonder why they stay silent, ignoring solutions. It makes you realize they never paid attn.
When I see upstart 3rd parties and friends staying in the low hanging fruit of pointing and problems and skipping the solutions (#FederalJobGuarantee, #GreenNewDeal, #MedicareForAll) and then realize they never bothered really getting #MMT... it makes you further realize...
The lights aren't on yet.
I want you to know something terrifying...
Only @RoKhanna and @Ocasio2018 even voiced opposition to #PayGo from the Democratic Party.
Rank and file Democrats on Facebook ignored Dr @StephanieKelton regarding this matter.
Only @RoKhanna and @Ocasio2018 even voiced opposition to #PayGo from the Democratic Party.
Rank and file Democrats on Facebook ignored Dr @StephanieKelton regarding this matter.
Rank and file Democrats give Republicans all the ammo they need pretending the nation is constrained by taxation for spending.
Rank and file Democrats have accepted austerity is the "right thing to do". To be "fiscally responsible" and "clean up the Republicans budget mess".
Rank and file Democrats have accepted austerity is the "right thing to do". To be "fiscally responsible" and "clean up the Republicans budget mess".
Rank and file Democrats do not realize our nation creates dollars when it spends and destroys dollars when it taxes.
Rank & file Democrats end up supporting #GreenNewDeal killing economics of austerity then do the Republicans job for them by asking "How are you gonna pay for it"
Rank & file Democrats end up supporting #GreenNewDeal killing economics of austerity then do the Republicans job for them by asking "How are you gonna pay for it"
So the thing that makes Modern Monetary Theory so vital, ending actual suffering, apparently renders those suffering the effects of bad economic mysticism absolutely marginalized because pain is crass, yet pain is the most real connection to the abstract possible to even imagine.
Without the REAL cause and effect branded into the consciousness of the people, an abstract war will only resonate with a "plucky" band of people given to such academic musings.
Freezing to death in the winter? yeah... that's real. Austerity did that deficit reduction did that!
Freezing to death in the winter? yeah... that's real. Austerity did that deficit reduction did that!
Dying from a lack of accessible healthcare because neoliberalism demands our lives have a price on them? Yes. You have crossed the threshold into violence and that violence is economic in nature. Some might even be bold enough to call it what it is: murder... murder by policy.
