Sterling Monetary Framework Archives - The Gower Initiative for Modern Money Studies

This post documents a 2020 paper (updated in 2021) called An Accounting Model of the UK Exchequer, and my seven-part series of interviews with all three co-authors: Richard Tye, …

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Stuart Medina Miltim @smiltim ·

31 Oct

What's insane is to have an accounting balance as a target.

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Stephanie Kelton @stephaniekelton ·

31 Oct

The gilt market exists to give 🇬🇧 government influence over the term structure of interest rates. How much influence they choose to exert is ultimately a policy choice. Gilt-free spending is another option, if you’re prepared to eliminate the income subsidy by not issuing bonds.

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Sheridan Kates 🕊️ @sheridanvk ·

31 Oct

Honestly wild to see so much obsession over the gilt yields. We must stop pretending that the government is borrowing money when it spends, and that the Bank of England can't just step in and hold this rate to whatever it wants. Otherwise we will get nothing done in our economy.

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Prem Sikka @premnsikka ·

30 Oct

S&P downgrades Thames Water debt into ‘junk’.

Major shareholders have written off investment.

Credit rating is junk.

Water companies want price hikes of up to 84% to rescue them.

No bill rises, no bailout, let them crash. Nationalise at low cost.

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Tony Weston @tonywestonuk ·

29 Oct

Aaron is part of the problem.

The idea that the government has no money, and no power, has allowed this to happen. A worked example.

Road is covered in potholes.
People are unemployed.
There are materials to fix the road.

BUT, there is no money to fund it.

Why? ..\

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Tag: Sterling Monetary Framework

An Accounting Model of the UK Exchequer (the paper, and author interviews)