@frapacioli.bsky.social
‘If the first rule of democracy is “Learn how to count”, perhaps the first rule of economics should be “Learn how to account”.’ https://substack.com/@frapacioli?r=7dnd50&utm_medium=ios&utm_source=profile&shareImageVariant=image
The Republicans know that the Fed can *create* as much money as is needed to increase the productive capacity of the US economy (if voted by Congress), as long as there are enough idle resources not to drive up inflation. Currently, therefore, the US economy is looking pretty steady.
Aaron Rupar@atrupar.com · 20h agoBREAKING: Republicans are no longer worried about deficits and debt Bessent: "I'm not as bothered by it ... if '26 is flat to slightly up, this isn't wasteful social spending "
Semi Goodenough's modern Conservative party. Former Tory chairs: rejected Former neo-Nazis: approved And they're the moderate centre right. Reform and Restore are worse. www.theguardian.com/politics/202...
Ex-MP urges Tories to drop candidate jailed for campaign of antisemitic abuse against her
Luciana Berger says Joshua Bonehill-Paine should have no role in public life because of ‘his racism and his view of women’
theguardian.com
Remember: nuclear power IS intermittent. Probably, as climate breakdown deepens, worse so than wind - and solar. Pass it on…
Rebecca Solnit@rebeccasolnit.bsky.social · last mo."For days, officials across France have scrambled to cope with the searing heat, shutting down three nuclear reactors after the surrounding cooling waters became too hot..." So much for nuclear as a climate solution.....
Quotes: "during our period of study (1993-2024), mechanisms designed to regulate spending tended towards input control and short-term decision-making, struggled to support strategic investment and often failed to deliver sustained improvements in outcomes."
Giles Wilkes@gilesyb.bsky.social · yesterdayThis is the Nuffield research that the incredibly productive Diane Coyle refers to in this article. www.bennettschool.cam.ac.uk/publications...
Widespread understanding of this infographic would completely change the nature of the economic and political debate in the UK.
Eddy Canfor-Dumas@ec-d.bsky.social · 6d ago👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻
All UK government spending is paid for using newly created money. Taxation withdraws money that the government has put into the system. The challenge is not finding the money: it’s finding the real resources to buy to achieve desired aims without creating inflation. www.bbc.co.uk/news/article...
Kemi Badenoch tells PM not to raise taxes to fund social care
In a letter to the PM, the Conservative leader offers to work with him on adult social care reform.
bbc.co.uk
Fiscal Rules Are For Sensible Fools open.substack.com/pub/frapacio...
Fiscal Rules Are for Sensible Fools
Fiscal rules are political theatre. They’re announced as financial disciplines, evidence that the grown-ups are in charge – but gamed when inconvenient and abandoned when reality intrudes.
open.substack.com
We speak to Francesca Albanese, the United Nations special rapporteur on the occupied Palestinian territory, about Israel’s continued impunity from international law. She also comments on the recent surge in settler- and soldier-led “pogroms” in the occupied West Bank.
U.N. Expert Francesca Albanese Slams U.S. “Complicity” as Trump Meets Netanyahu Despite ICC Warrant
We speak to Francesca Albanese, the United Nations special rapporteur on the occupied Palestinian territory, about Israel’s continued impunity from international law. Despite an International Criminal...
democracynow.org
@mattchorley.bsky.social Fiscal Rules Are For Sensible Fools open.substack.com/pub/frapacio...
Fiscal Rules Are for Sensible Fools
Fiscal rules are political theatre. They’re announced as financial disciplines, evidence that the grown-ups are in charge – but gamed when inconvenient and abandoned when reality intrudes.
open.substack.com
When I heard "Andy Burnham is holding cross-party talks today about..." for a moment I thought it was going to be about THE HEATWAVES AND THE CLIMATE CRISIS
Your 'doom quote' for today: "we are fast approaching the stage when climate change will be playing the tune for us while we stand by and watch helplessly, with our reductions in CO2 emissions having no effect in the face of, say, runaway emissions of methane." e360.yale.edu/features/as_...
The Global Impacts of Rapidly Disappearing Arctic Sea Ice
The top of the world is turning from white to blue in summer as the ice that has long covered the north polar seas melts away. This monumental change is triggering a cascade of effects that will ampli...
e360.yale.edu
Wow - the average global sea surface temperature outside of the polar regions is currently tied for the all-time absolute hottest on record (in the NOAA/OISST dataset). The record was in 2024. More graphics like this at www.climatecentral.org/climate-brie... 🌊
Scientists warned us about climate change for decades, and their predictions have proved remarkably accurate. Knowledge was never the problem The failure is structural. Political and economic systems reward those who defend the status quo and punish those who challenge it.
Despite decades of accurate scientific warnings and practical plans like the Green New Deal, political systems captured by fossil fuel money and vested interests have refused to act on the climate crisis, and only by displacing those interests can meaningful change now happen.
‘For several reasons, it is hard for people to realize how serious the climate threat is and to take appropriate, timely actions…’ (Jim Hansen) jimehansen.substack.com/p/beware-med...
Beware Media Hype. It’s Not the El Nino!
James Hansen, Pushker Kharecha, Dylan Morgan and Jasen Vest
jimehansen.substack.com
FT reporting that Joshua Kushner, brother of Jared, wants to lead this deal…which underscores yet again that the World Cup hydration breaks and half-time show were the thin end of a Trumpian wedge to dominate the business of the game. Grift everwhere you look. www.bbc.com/sport/footba...
World Cup: Uefa furious at reports Fifa plan to sell stakes in tournament
European football's governing body Uefa reacts furiously to proposals from Fifa to seek private investment in its competitions, including the World Cup.
bbc.com
This bonus Q&A session with Professor Stephanie Kelton held on 21 July 2026 follows three talks we ran for a workshop (entitled "From Austerity to Resilience") in Brussels in June 2026. youtu.be/qoo_77RNNck?...
"From Austerity to Resilience" MMT Q&A with Stephanie Kelton
YouTube video by Modern Money Lab
youtu.be
Fiscal Rules Are For Sensible Fools open.substack.com/pub/frapacio...
Fiscal Rules Are for Sensible Fools
Fiscal rules are political theatre. They’re announced as financial disciplines, evidence that the grown-ups are in charge – but gamed when inconvenient and abandoned when reality intrudes.
open.substack.com
New post: The relationship between capital, plutocracy and populism mainlymacro.blogspot.com/2026/07/the-... Right wing populism is generally very bad for the economy and business. Yet populist governments are almost always supported by an oligarchy or plutocracy.
The relationship between capital, plutocracy and populism
In a recent post, where I discussed the Conservative party’s newfound opposition to net zero, I noted that one attraction that switch had ...
mainlymacro.blogspot.com
"Political capital" is a scarcity frame. A currency issuer doesn't need to ration spending on social care, it needs to decide it's a priority. The NHS doesn't collapse from lack of pounds; it collapses from policy choice. #MMT #Economics #UKPolitics
https://www.theguardian.com/society/2026/jul/27/andy-burnham-vows-to-use-his-political-capital-to-fix-social-care-system
theguardian.com
‘Fiscal rules are for sensible fools’ - coming soon.
Prem Sikka@premnsikka.bsky.social · last wk.Any Burnham says he will stick to "the existing fiscal rules". Rules which neutered the state & delivered Potholed roads PFI infrastructure Huge NHS queues Privatisations Poverty Deindustrialisation Lower healthy life expectancy Low investment in productive assets and low productivity Must change.
The inconvenient truth is that far too many people ignore stuff like this UNTIL IT *PERSONALLY* SMACKS THEM IN THE FACE.
Prof. Eliot Jacobson@climatecasino.net · last wk.Breaking News! Code: Bonkers! As of July 25th, the Nino 3.4 sea-surface temperature is officially "bonkers," at more than 2.3°C above the 1991-2020 baseline and 0.70°C higher than the previous daily record. The Climate Casino is taking the Over on 2.5°C by August 1st.
Andy Burnham cabinet consists of neoliberal foot-soldiers. All supported Privatisation of the NHS by stealth Greater role for private equity PFI Corporate profiteering Benefit cuts Higher taxes on the poor Erosion of jury trials Damaging fiscal rules What will change?
Andy Burnham can’t transform the country while sticking to the current fiscal rules
Sticking to the 2024 election manifesto and fiscal rules will make it harder for him to deliver the headline promises and the change that he has paraded.
leftfootforward.org
Isn’t there a law against incitement? Can the government block X? What are the remedies here?
Adam Bienkov@adambienkov.bsky.social · last wk.Encouraging violence against minorities, journalists and basically anyone who disagrees with him. There's no convincing reason to stay on there whilst he remains in charge
Elon Musk, owner of X, has called the editor of the Economist "a traitor to the West, plain and simple" after her recent interview with him. He now argues that "anyone who opposes remigration is a traitor" Musk has been socialising violence since Aug25: "fight or die, that's what it comes down to"
I have been saying for a while that we are going backwards Here is the latest grim evidence app.wedonthavetime.org/posts/c374dd...
⚠️ The Fossil Lobby Is Winning: 45 Climate Policy Reversals in One Year
Last week I wrote on LinkedIn: I have been following climate politics for a long time. I do not think I have ever felt this upset. As the climate crisis accelerates, our leaders are not accelerating c...
app.wedonthavetime.org
Cities dismantled their tram networks to become “motor cities of the future”. The result? You could travel further within 30 mins via public transport in 1957 than you can in 2026. Cities are seeking billions to rebuild networks. Incredible piece of work this.
The Exchange@theexchangeleeds.bsky.social · 2w agoIf you stood on Briggate at 8am on a weekday in 1957, and stood there again in 2026, in which year could you reach more of the city in half an hour? Samuel Bancroft has crunched the numbers. Since the 1950s, Leeds has got bigger - but the city has effectively shrunk.
