the absence of private demand makes government expenditure necessary. It repays itself by creating a stronger economy than would have otherwise been the case. For me that is the macro - non-household budget - reasoning. (1/13ish)

Making G contingent on a ultra low government rate of interest (ULGROI) seems household budget thinking: lower expenditure on interest payments is being portrayed as permitting the higher expenditure on G. (2/13)
All fine that this is permitting those who think in a household budget way (OBR, IFS etc) to support spending (or rather not prescribe austerity) but it is not the macro of the situation. (3/13)
As an aside I'd rather call out the household budget mob for prescribing austerity last time, not least in the week that the OECD publicly acknowledged austerity was overdone. Parotting their present argument seems to let them off the hook. (4/13)
As you know the low rate of interest - in advanced economies on government debt - is not a matter of chance but a consequence of a decade of reliance on QE and a wider global retreat from risk. (5/13)
QE can fund the spending irrespective of the rate of interest. Though it seems more likely that the dominant factor in the present ultra low rate of interest is that the massive necessary spending is near overfunded by QE (i dont have the exact numbers to hand). (6/13)
I don't know if this is desirable and the ultra low rate sensible. (7/14)
For one when central banks reign in QE, rates will start to rise and fiscal hawks will call a halt (and of course there are already steps in this direction, eg (8/13) https://t.co/waPYsjn2pc
your call for yield curve control gets round this, and would provide a more concrete basis for policy towards the long term rate. And would better align fiscal and monetary policy, likely taking back some initiative from the BoE (9/13)
But on top of this we have the wider questions about risk. As others have argued the complex interplay between ultra low government rates + QE is (or has been) fostering investment in riskier assets on a global basis. (10/13)
This is likely yet another - very big - bubble, and indicative of a wider global disarray - rooted in the underlying demand for high returns that has characterised global rentier capitalism for four decades - and this is far from resolved. (11/13)
Rather than celebrating the ultra low rate at home we should be regarding it as symptomatic of this disarray and be addressing the system as a whole. I regard dear money from the 1980s as fundamental to this disarray, but I hope you know that. (12/13)
Hence the linked piece yesterday, tho admittedly the relation was likely not obvious (am lazy on twitter). Hope clarified. Would like to debate properly. (13/13 - yay!)
https://t.co/J5ZKRi3wYZ

More from For later read

Wow, Morgan McSweeney again, Rachel Riley, SFFN, Center for Countering Digital Hate, Imran Ahmed, JLM, BoD, Angela Eagle, Tracy-Ann Oberman, Lisa Nandy, Steve Reed, Jon Cruddas, Trevor Chinn, Martin Taylor, Lord Ian Austin and Mark Lewis. #LabourLeaks #StarmerOut 24 tweet🧵

Morgan McSweeney, Keir Starmer’s chief of staff, launched the organisation that now runs SFFN.
The CEO Imran Ahmed worked closely with a number of Labour figures involved in the campaign to remove Jeremy as leader.

Rachel Riley is listed as patron.
https://t.co/nGY5QrwBD0


SFFN claims that it has been “a project of the Center For Countering Digital Hate” since 4 May 2020. The relationship between the two organisations, however, appears to date back far longer. And crucially, CCDH is linked to a number of figures on the Labour right. #LabourLeaks

Center for Countering Digital Hate registered at Companies House on 19 Oct 2018, the organisation’s only director was Morgan McSweeney – Labour leader Keir Starmer’s chief of staff. McSweeney was also the campaign manager for Liz Kendall’s leadership bid. #LabourLeaks #StarmerOut

Sir Keir - along with his chief of staff, Morgan McSweeney - held his first meeting with the Jewish Labour Movement (JLM). Deliberately used the “anti-Semitism” crisis as a pretext to vilify and then expel a leading pro-Corbyn activist in Brighton and Hove
Every single public defender. Every single day.


Bail arguments, motions, oral arguments, hearings. Judges don’t know, follow, or care about the law. Prosecutors are willing to take advantage of it. And mandatory minimums, withheld evidence, & pretrial detention coerces people to plead before trial. When theres a jury. A shot.

But defenders still fight. And still win. Most times wins aren’t “Justice.” It’s power of repetition of argument in front of same judges. Introducing those in power to the people they oppress. Not just a RAP sheet or words on a page. Defenders make it harder to be brutal & cruel.

I worked as a public defender at an office as well resourced as any in the country. Social workers, team of investigators, a reentry team, support staff, specialist attorneys in immigration, housing, education, family. Relatively low caseloads (80-100). And yet still injustice.

Most think that balancing the scales of justice means more funding for defenders. Thats part of it. Enough a attorneys to actually be at bail hearings. Wrap around services to be able to help people trapped in the system end up better off in their communities. Lower caseloads.
The #worldwildlifeday2021 theme is Forests and Livelihoods: Sustaining People and Planet aligning with UN Sustainable Development Goals 1, 12, 13 and 15. So, what are the UN Sustainable Development Goals (SDGs) & how can children begin to learn about them & get involved ?

https://t.co/8ICvHxE9QL is easy & fun to follow for our smallest of people #EYFS. Early childhood is the perfect stage to introduce the core concepts of what it means to be a global citizen. For our reception & KS1 children please take a look at this fabulous free resource

https://t.co/tZx8UIS58Q Storytelling is a powerful communications tool and helps children remember lessons and virtues that they will use in everyday life. The idea is to simplify the lessons of the (SDGs) so young children can relate to – and better understand – the SDGs.

For older children here’s a board game that aims to help teach children around the world about the Sustainable Development Goals in a simple and child-friendly way

This is a lovely free book for children to enjoy flicking through themselves https://t.co/ScMbQCfpjl Elyx, the United Nations’ digital ambassador, uses various expressions and actions to help demonstrate the meaning of each Sustainable Development Goal.

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