‘Simplicity is the Ultimate Sophistication’ Life is really simple, why do we have to make it so complicated? #MMT #JobGuarantee #NuclearEnergy
Australia
Joined January 2012
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See my unique, critical videos on Australia’s money system, superannuation, bank power, energy, public policy, and the odd bit of satire.
No culture war distractions, just facts and accountability.
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youtube.com/@just-imagine
Despite today's pomp and ceremony, if you want to understand what the First World War was really like for those who fought in it, the link below takes you to a Facebook page featuring an extract from my grandfather's wartime diary.
facebook.com/unsung.suechee/…
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Why is there no discussion about the $4.25 trillion in private credit created by commercial banks?
Why obsess over Commonwealth spending while largely ignoring private debt and its consequences for housing, inflation and financial stability?
youtu.be/JMFaNeNtHBc
I listened to @SaulEslake on @RadioNational Breakfast this morning
Not once did he mention the $4.25 trillion private debt driving inflation
Nor did he mention 546,000 non-productive members of the finance sector
Saul is either inept or a conman
youtu.be/zr5W_Y_RY14
Michael Sanderson retweeted
Haven’t done one of these for a while.
This is an AI explainer of my submission to the Australia Post retail network inquiry. (Link in Description)
The neoliberals are in the process of gutting Australia Post.
Don’t stay silent, or we’ll lose it.
youtu.be/gtIPMC1fSJE
Haven’t done one of these for a while.
This is an AI explainer of my submission to the Australia Post retail network inquiry. (Link in Description)
The neoliberals are in the process of gutting Australia Post.
Don’t stay silent, or we’ll lose it.
youtu.be/gtIPMC1fSJE
YOU DON'T KNOW WHAT YOU HAVE UNTIL IT'S GONE
Save and expand Post Offices to underpin national cash distribution and other public services
@auspost @AnikaWells @katty @SenKatyG @AustralianLabor @Greens @LiberalAus @The_Nationals @OneNationAus @AlboMP
youtu.be/BEms2NDSOxY
Is it a cunning plan to kill cash?
The four major banks are pushing us onto private digital platforms, and now they want to control a private cash pool
CBA predicts cash use will fall to just 4% by 2030
The RBA says it has stabilised at 15%
youtu.be/uFViQhk5lNQ
The REAL private debt rarely spoken about:
$4.87 trillion — around 168% of GDP.
Private debt was central to both the Great Depression and GFC, yet orthodoxy and the media obsess over $1 trillion of Commonwealth pseudo-debt that supposedly needs to be reined in.
Michael Sanderson retweeted
I recently gave evidence to a House committee on critical minerals. My question was simple: if these resources are genuinely strategic, why assume private and foreign ownership when the Commonwealth can retain public ownership and strategic control? youtu.be/6dgoj0q4WGc
I recently gave evidence to a House committee on critical minerals. My question was simple: if these resources are genuinely strategic, why assume private and foreign ownership when the Commonwealth can retain public ownership and strategic control? youtu.be/6dgoj0q4WGc
POLICE STATE??
@DavidShoebridge sets the stage at 15.25 @AlboMP gross hypocrisy in his own words
youtu.be/WiCsfmT5638
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Michael Sanderson retweeted
youtu.be/WoUBiZt8mH4
I was invited to appear before the AUKUS inquiry and took the opportunity to raise an issue that is almost completely absent from the public debate: currency issuance and what actually constrains Commonwealth spending.
I am not an economist, and I delivered it in my own way, but I think I got the central point across.
Time prevented me from explaining the other side of the monetary system, debt-based money creation by commercial banks. That leaves an obvious vulnerability in the argument if currency issuance and bank created credit are conflated.
Given the time available, how did I do?
youtu.be/WoUBiZt8mH4
I was invited to appear before the AUKUS inquiry and took the opportunity to raise an issue that is almost completely absent from the public debate: currency issuance and what actually constrains Commonwealth spending.
I am not an economist, and I delivered it in my own way, but I think I got the central point across.
Time prevented me from explaining the other side of the monetary system, debt-based money creation by commercial banks. That leaves an obvious vulnerability in the argument if currency issuance and bank created credit are conflated.
Given the time available, how did I do?
The Brand new Kurri Kurri fossil fuel power station can export up to 660 MW.
The proposed neighbouring AI data centre could consume 520 MW.
That's nearly 80% of the station's export capacity.
When renewables fail who will get priority?
ALT The proposed new data centre with the new power station at the top of the picture.
The RBA calls unemployment above 4 per cent “full employment”.
Tell that to the unemployed.
Then explain it to the 10.9 per cent of the workforce who are unemployed or cannot get enough hours.
billmitchell.org/blog/?p=632…
You got to love pommy politics
Count Binface takes on Farage
youtu.be/Z-hUOlP7-l8
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player.captivate.fm/episode/…
Disturbing but well worth a listen.
Macro N Cheese, featuring Bill Mitchell discussing MMT, neoliberalism, capitalism and state power.
Mitchell’s core point is that MMT is a lens, not a political program. It shows that currency issuing governments are not financially constrained like households. But knowing that is not enough. The harder question is why governments choose war, corporate support and austerity instead of housing, health care, jobs and public services.
His answer is class power. He argues that the neoliberal era was not an accident or a policy mistake. It was a deliberate capture of the state by capital. Government did not become weak. It was redirected. Its legislative, regulatory and spending powers were increasingly used to serve capital rather than workers.
Mitchell says progressives often misunderstand this. They think the system is broken and can be fixed by electing better people. He argues the system is working as designed for those who captured it. The economy is failing ordinary people, but succeeding for the wealthy, corporations, finance and the military industrial sector.
The discussion also covers debt, consumerism, media control, AI, propaganda and climate breakdown. Mitchell presents a bleak view. Ordinary people are trapped by debt, work pressure and survival needs, while elite power becomes more concentrated.
His final message is not cheerful, but it is practical. People should stay informed, help those around them, fight injustice where they can, and be ready to challenge the system when instability forces deeper change.
Michael Sanderson retweeted
youtu.be/KX1jasLGYA4
The Anachronism of Treasury Bonds: Phasing Out the Illusion of Government Debt
Sovereign governments that issue their own fiat currency do not need to issue Treasury bonds in order to spend. Bond issuance is not a financing necessity. It is a policy choice inherited from earlier monetary arrangements, including the gold standard era, when public finance was explained through a borrowing framework that no longer fits a modern currency issuing state.
Treasury bonds may still serve financial market functions. They provide safe assets, collateral and benchmark interest rates. But those functions should not be confused with funding the Commonwealth. A government that issues its own currency does not need to borrow back the currency it alone can create.
The traditional bond market now carries a heavy public cost. It helps sustain the false household metaphor. It encourages the public to believe that the national government must first borrow before it can invest, and that public purpose is limited by a stock of debt rather than by real productive capacity.
Modern central banks can manage interest rates directly by paying interest on reserve balances. There is no functional need to maintain a large bond issuance system merely to preserve the appearance that the Commonwealth is financially dependent on private markets.
Phasing out routine Treasury bond issuance would help expose the real limits on public investment. Those limits are not the availability of dollars. They are labour, skills, materials, energy, technology, supply chains, ecological capacity and inflation risk.
Australia needs a new economic narrative. Public investment should be judged by whether it serves public purpose and whether the real economy can absorb it, not by whether it adds to an accounting fiction called government debt.
