Democratic Sovereignty I Economic/Monetary Sovereignty I Challenging conventional thinking I “What we can do, we can afford” — J M Keynes
Joined August 2019
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Tweaking the system isn’t the same as changing it.
That’s why it still feels the same for most people. We need a system change with a better understanding of our monetary system as it's foundation...#IFC
Minimum wage rising 📈
State pension increasing 💷
Two child limit abolished 🏡
Child poverty falling 📉
Rights at work strengthened 💪🏻
Labour promised change. We are delivering change.
theguardian.com/commentisfre…
Tony Newnham retweeted
So you did gaslight the public, didn’t you, @Ed_Miliband?
You announced nothing but fig-leaf sanctions and performative gestures while the UK continues to sell arms to the genocidal Israeli war machine and award public contracts to firms linked to illegal Israeli settlements, helping sustain Israel’s system of apartheid.
You’re complicit in the genocide of the Palestinian people. Hope you’re proud of yourself.
AJ EXCLUSIVE: The UK awarded £10.7m ($15m) in new public contracts to firms linked to illegal Israeli West Bank settlements, despite UK gov’t pledges to punish companies that profit from settlement activity, an Al Jazeera investigation reveals.
🔗: aje.news/99ct5z
Tony Newnham retweeted
AJ EXCLUSIVE: The UK awarded £10.7m ($15m) in new public contracts to firms linked to illegal Israeli West Bank settlements, despite UK gov’t pledges to punish companies that profit from settlement activity, an Al Jazeera investigation reveals.
🔗: aje.news/99ct5z
Tony Newnham retweeted
This is absolutely right. I would add that government bonds gift big investors - eg commercial banks, asset managers, insurance companies - guaranteed income streams paid by fiat issue that could be directly invested in infrastructure, utilities and public services. This guaranteed income is the ultimate collateral which big finance can leverage for derivatives, repos and risk portfolios. Each nation trapped under money-market discipline is providing the creditor class with a solid platform for their gambling rather than making its country a better place for ordinary people to live in. It's history's biggest financial scam, folks - 900 year vintage - and our politicians are allowing it to crush our potential.
Governments are borrowing money from you, then wondering why the economy will not grow.
Here is the part nobody tells you:
A government deficit creates money. But when the government sells bonds to households and firms, they use money they already have to buy them.
The deficit creates money. The bond sale cancels it.
So growth stalls, debt rises, and politicians respond by cutting the things that actually make an economy work.
This is not fiscal discipline.
It is an economic straitjacket.
#GovernmentDebt #Austerity #MonetaryPolicy #Economics #SteveKeen
Tony Newnham retweeted
⭕️ The DUP, TUV, and UUP have used a Petition of Concern to block a Sinn Féin Bill that would have ensured teachers and staff are in place in Irish-medium schools to meet growing demand.
Using the Petition of Concern to deny children the support they deserve is despicable.
It is blatant sectarianism and anti-Irish bigotry, and yet another desperate attempt to drag us backwards.
There is no going back to the past.
Sinn Féin will continue to stand up for people’s rights, and face down those who want to drag us back.
Tony Newnham retweeted
Why are half our city centre shops closed and empty? Why are businesses suffering lack of demand? Why is it so hard to make a living? Why is the economy not thriving?
Governments are borrowing money from you, then wondering why the economy will not grow.
Here is the part nobody tells you:
A government deficit creates money. But when the government sells bonds to households and firms, they use money they already have to buy them.
The deficit creates money. The bond sale cancels it.
So growth stalls, debt rises, and politicians respond by cutting the things that actually make an economy work.
This is not fiscal discipline.
It is an economic straitjacket.
#GovernmentDebt #Austerity #MonetaryPolicy #Economics #SteveKeen
Tony Newnham retweeted
If true this is outrageous.
It seems that Andy Burnham’s latest version of ending 40 years of neoliberalism is handing Thames Water over to US hedge funds.
Labour have stopped even pretending to serve us or our communities anymore.
Labour stand for the hedge funds.
🚨BREAKING
The Financial Times has just revealed that Thames Water’s US hedge fund creditors are close to agreeing a ‘last and final’ deal to take over the company.
A handover to US hedge funds. A continuation of the privatised chaos. And a huge reward for the people who have run our water into the ground.
The deal would see them allowed to pollute our rivers and seas without consequence - in exchange for an upfront payoff.
This deal is absolutely outrageous, in every regard.
112 MPs have already called for special administration of Thames Water.
A cross-party group of MPs - who scrutinise the Environment Department - have said that the creditors’ proposal should be rejected and Thames Water should be brought into special administration.
And the former Environment Secretary rejected a previous version of the creditors’ deal in June. This new version is not better in any way.
@andyburnham promised to reverse Thatcher’s legacy of privatisation. He promised public control of life’s essentials.
This really is the moment of truth for Andy Burnham. If he allows the water supply of 16 million people to be sold off to US hedge funds - how can we take him seriously about any of his promises?
NO DEAL to the Thames Water creditors. Special administration now.
Tony Newnham retweeted
At least we really do know where we stand now and can all act accordingly: nothing meaningful is going to change under this guy, just marginal tinkering to mitigate neoliberal excess. Reminds me of the Blairite stint before the next rightward surge.
Interesting that parts of the 10 year plan are being outsourced to Boston Consulting Group, where James Purnell used to work.
Story by @KatieTarrant_
thetimes.com/article/8a202a0…
Tony Newnham retweeted
Interesting that parts of the 10 year plan are being outsourced to Boston Consulting Group, where James Purnell used to work.
Story by @KatieTarrant_
thetimes.com/article/8a202a0…
Tony Newnham retweeted
So Burnham's plan for 'ending 40 years of neoliberalism' is being written by a Yank management consultancy firm? 😂😂😂
You couldn't make this shit up.
Tony Newnham retweeted
If Labour MPs don't like being called right-wing, they shouldn’t keep doing business with right-wing billionaires.
Tony Newnham retweeted
DUP TO USE VETO AT STORMONT TO BLOCK HELP FOR 7,000 IRISH LANGUAGE SCHOOLCHILDREN.
In one of the most blatantly sectarian actions seen at Stormont for many years, the DUP have announced that tomorrow they will use a Stormont 'Petition of Concern' to block a bill designed to address staff & teaching shortages along with funding structures affecting thousands of children in Irish Medium Schools.
Over 7,000 pupils attending Gaelscoileanna will be affected. This is already causing huge outrage today due to the blatantly sectarian and anti-Irish nature of the DUP actions.
Condemnation has already been widespread.
The DUP can only force this blockage through with the full support of Jon Burrows and the UUP but they appear confident that the UUP will comply.
This would result in a unified Unionist political action of blatant sectarianism towards thousands of school children who choose Irish as their first language.
Sinn Fein's Pat Sheehan who has proposed the bill has today accused the DUP of "blatant anti-Irish bigotry".
@duponline @uuponline @JonBurrowsMLA @GRobinsonDUP @TUVonline @RobbieButlerMLA @Diana_uup @ClaireSugden @williamcrawley @rodneyedwards @BBCNewsNI @UTVNews @mikenesbittni @paulgivan @Ed_Authority
Tony Newnham retweeted
These are not serious people. As Trump has just found out in the USA, eventually people see past the tedium of the culture war.
Tony Newnham retweeted
Disclaimer: We are still supplying weapons to Israel and we still aren't imposing any sanctions against Israel. We also haven't joined South Africa's legal case at the ICJ, but we are posting angry words on Twitter and that's what counts ♥️
Tony Newnham retweeted
Today, our petition for a public inquiry into British complicity in genocide reached 100,000 signatures.
I have written to the Petitions Committee to ensure a parliamentary debate is arranged as soon as possible.
Well done to all those signatories who made this happen.
Tony Newnham retweeted
This is a terrible backslide. Thereby is a huge swathe of infrastructure investment in electric car charging on the books, all privately funded because the government has decide to play no role in building it. But now they've basically screwed over the companies installing the infrastructure who had been planning on a huge rollout based in targets even the Tories were sticking too.
Really stupid short-termism. Terrible for investment, terrible for the environment. Burnham is really showing how little he cares about climate change.
EXCL: Ministers are expected to make steep cuts to the government’s electric vehicle targets this week, in a move that will relieve carmakers but alarm many Labour MPs who are worried about the government’s commitment to the green agenda - @kiranstacey reports
theguardian.com/environment/…
Tony Newnham retweeted
It's important this performative video is met with the scorn that it deserves.
Silence would be unacceptable.
But it's actually worse to have Labour making sad videos whilst continuing to arm a genocide and arrest those who protest. It should be beneath contempt.
Tony Newnham retweeted
Boom.
Burnham’s government refused a Gaza inquiry. A UN inquiry found genocide. The ICJ ordered it prevented. Corbyn’s Gaza Tribunal found Britain failed to. 100,000 people have demanded the inquiry ministers refused.
We’re taking this to Parliament. Complicity gets a hearing.
Keep up the pressure. Sign:
petition.parliament.uk/petit…
Tony Newnham retweeted
I have written along with many of my colleagues urging the government to take emergency action to address the nightmare situation facing Palestinians in Gaza as a result of the floods. This is a desperate tragedy with lives being lost already. caabu.org/news/news/75-uk-pa…
