To me, this is the most iconic article on money ever written, and left us is with this:: “Lending creates deposits” That’s the beginning of the end for traditional neocon models…or maybe just the end! It was so powerful I extrapolated it into a 300+ page book with 40 charts: https://a.co/d/4nRyMJs What have you read by a central bank that you thought was insightful? Please post links or papers, feel free to share commentary…

Nothing gets my goat more than economists messing up people's lives. My latest rant (with solid statistics to back it up, of course) is the way economists have pushed the majority of the US population to misery, their health and their living situation. 77 percent of young men are so bad they can't be conscripted. See if you agree with me! https://www.patreon.com/posts/hysteresis-and-146837566?utm_medium=clipboard_copy&utm_source=copyLink&utm_campaign=postshare_creator&utm_content=join_link

I'm going to run through my thinking here and it will be rough, so please excuse that. I have a hunch (Nordhaus) that this may be a productive edge to explore, and welcome your thoughts. If follows on from @Steve Keen s presentation to Jeremy Corbyn, where it opens up for spending on that which is important and needed, this gives a framework to do it (rough I know but small beginnings). The table runs left to right. Black is money, Red is liability, blue is real capital, increasing or decreasing (with a - sign). It represents the government budget. You will need to know the basics of real or multi-capital to get this. https://stephenhinton.org/2024/01/28/real-capital-an-explainer/ The first column is the national budget, planning to spend first and then get back all or some via tax (MMT), The last two are mixed real and financial - social capital is organisations, and these all have financial identities that pay tax on their operations, as well as get gov, benefits/contracts, Human capital is people with social identity numbers who get benefits and pay tax and are employed in social organisations. So we have represented the money side of things. However, the national budget expects a use of real capital - biological like wood, food etc and mineral. This is processed in the built capital. You can see already that national accounts do not take into the real capital capacity available, or the drawing down effects of the operations of the social capital, the organisations. At the end of the year (effects) there will be an economic status of the government account, but also the social capital (GDP). However, there will also be status of real capital - soils and forests degraded by harvesting, mineral reserves down, by mining, and of importance, the effects of economic stress on the human capital. This is where MMT comes in. It would be better to, when producing national budgets, to include a real capital focus. You could demand of firms that they declare their real capital impacts per dollar of operation. You could factor in economic stress and budget to minimise it. There are a lot of things you can do if you see it this way,

Staple crops yields face ‘substantial losses’ in warming world – even with adaptation | News | Eco-Business | Asia Pacific https://share.google/tZmg9MOQxca8Caoom Key stats Projected End-of-Century Yield Change (with Adaptation, RCP4.5) Soya Bean 16\% loss Maize (Corn) 8.3\% loss Wheat 7.7\% loss Rice 4.9\% gain Sorghum Substantial residual loss (Specific percentage for RCP4.5 not isolated in summary) Cassava Substantial residual loss (Specific percentage for RCP4.5 not isolated in summary)

Here is the latest update from the advisory group: the conversations on Discord have been put through AI to help summarise thoughts. TheThree sections are below. How to use this material: it is AI generated and as such is just a reflection of our conversations. Read through it to check for MAJOR Misunderstandings, gaps or wrong thinking, and give your thoughts on the Discord workgroup. Do give positive comments for what you like. And ideas that we could use going forward.