Prof Steve Keen just dropped a urgent new video on how the Iran conflict is about to trigger global food shortages through the fertilizer crisis in the Strait of Hormuz. 20% of world supply blocked for a full month. Famines possible in months. He breaks down exactly who is most at risk (India first, then Australia and the UK) and why our just-in-time systems leave us so exposed. Drop in and watch the full thing right now – https://www.youtube.com/watch?v=OU-nDL7lDt8&views Let’s discuss in the comments, what are your thoughts on how fragile our supply chains really are?

Trump blockaded the Strait of Hormuz. Mainstream says minimal damage. Steve shows 50 years energy and GDP move one for one. Live Ravel models: orthodox = 0.5% GDP fall. Steve’s = 10% fall. We are losing 20% of world’s LNG. Watch and comment your questions: https://www.youtube.com/watch?v=gAyddcThC3M&views #SteveKeen #EnergyEconomics

Millions protesting Trump? Deeper flaw: Irremovable executive like 1780s monarchy. UK evolved. America didn't. VP can't/won't depose. Duopoly ballots. Going Live now : https://www.youtube.com/watch?v=IfJmlVWxLgQ&views 🔥

Steve dropped a video you absolutely need to see right now. 🔥 He nailed the 2008 crash warning years ahead. Now he’s exposing why a Strait of Hormuz shutdown could slash 10% of global energy and trigger a matching 10% GDP plunge. Neoclassicals claim you can swap labor for oil. Pure delusion, as Steve proves with Ravel© models pitting Cobb-Douglas fantasy against Leontief reality. 📉 The breakdown covers: 🔹 How mainstream econ ignores energy entirely 🔹 Why a 10% energy drop hits output 1:1, no substitutions 🔹 Capital, labor, energy as fixed complements - lose one, lose it all 🔹 Real-world shocks proving post-Keynesians right the hard way. Watch here and drop your thoughts. Steve checks the comments. https://youtu.be/ukq7nX38QAQ?si=a0OcAuzaALo9JxZO #StraitOfHormuz #EnergyCrisis #PostKeynesian

This is a great clarifying piece from the thought leaders of MMT responding to their critics. They make the point to differentiate between a generalized description of money mechanics vs. specific implementation like the U.S. model. As has pointed out in the past, they clearly understand how the U.S. system clearly works under today’s self selected fiscal and legal constraints, such as the TGA must be funded prior to spending, no Treasury overdraft at the Fed, and the Fed cannot buy bonds directly from the Treasury. Supporters of MMT often conflate the need for the Fed/CB to create new Reserves by spending or lending, with the Treasury creating new reserves by Gov spending, but which the authors do not. Anything here anybody would like to point out or discuss? Anything anybody would like to add?