Sophistry or Shibboleth? - "Printing Money"

Here’s the real reason ‘asset managers’ object to ‘printing money’

28 May 2023 10:21 +0100 · 3 min · NeilW

UK Employment Stats

The number of people in the UK without work that want it

16 May 2023 10:18 +0100 · 1 min · NeilW

UK Sectoral Balances

Sectoral Financial Balances for the UK as a % of GDP, smoothed over a year

19 Apr 2023 12:36 +0100 · 1 min · NeilW

GIMMS Book Launch

MMT presentation in London on 20th April 2023

18 Apr 2023 11:21 +0100 · 1 min · NeilW

Eliminating the cost of the Asset Purchase Indemnity

The Asset Purchase Facility has landed HM Treasury with a ~£90 billion bill over the next two year. This paper lays out an approach that requires no further vote funding from Parliament, no additional debt interest payments, and restores “postive cash flow” from the APF for the remainder of this Parliament.

27 Dec 2022 08:32 +0000 · 7 min · NeilW

Why the Russian Oil Price Cap Won't Work

The 2020s appear to be a never-ending parade of global groupthink. The Russian Oil Price Cap is yet another stupid and self-destructive idea that should have been suffocated at birth. It cannot possibly achieve what its supporters claim, and it represents emotional value signalling from the Big Hug Club rather than any semblance of rational thought.

6 Dec 2022 05:45 +0000 · 6 min · NeilW

Whole of Government Accounts: some juicy quotes

Once intra-government transactions are eliminated, QE represents an exchange of gilts (liabilities of the National Loans Fund) for central bank reserves (liabilities of the Bank of England)

28 Oct 2022 08:24 +0100 · 3 min · NeilW

Gilt issues considered harmful

The public debt markets add less value to national prosperity than their opportunity costs. A proper cost-benefit analysis would conclude that the market should be terminated.

28 Oct 2022 06:25 +0100 · 7 min · NeilW

How to fix the government's borrowing costs

The government borrows at a price of its choosing. Here’s how.

23 Oct 2022 08:12 +0100 · 2 min · NeilW

How Much Is Government Borrowing? A Critique

My favourite BBC article has been rewritten again and more inaccuracies added. Let’s go through them.

4 Oct 2022 12:22 +0100 · 5 min · NeilW