A friend just sent me a link to the 'truth about governmement debt' (hee hee). It's a document from the House of Commons Library https://share.google/eb6g6WlBjESH62ZRE Quoting - "Most borrowing takes place through government bonds called gilts . When investors buy a gilt, they lend money to the government for a fixed period.". Oops - as Steve's accountig shows that's garbage since no money changes hands when Treasury bonds are issued.

This interview isn’t directly about economics, yet its content seems to touch an economic nerve way beyond America. Jake Auchincloss is a Massachusetts Democrat and is on record as a critic of the Democratic Party's progressive wing. He’s interviewed by Timothy Snyder about what the US Democratic Party should do if they gain both US Houses in the mid-term elections. See - https://snyder.substack.com/p/where-do-democrats-go-from-here-with They broadly agree on a drive to root out corruption and get dark money out of US politics. They also agree on removing the current head of the US Defence Department. Interestingly, Auchincloss recommended not impeaching Trump, but leaving him to flounder. The subtext of the whole interview is surely the issue of economic justice and the future of American democracy. Maybe the US isn’t rushing towards collapse quite so fast as it might seem, if Auchincloss’s views on corruption and dark money take hold … Snyder as ever is insightful.

👉 Tap this post to get started. // Hey guys, it's Jordan - Dr. Steve Keen's business partner since 2022, going on year 4 now. Whew. I've mainly been helping Steve manage his paid Challenge group and have accidentally neglected this Free Group. I'll take full responsibility for that. Let me make up for my mistakes now. For some reason the free book bundle was linking somewhere else, when it should've just shown the download files. As promised, below are the 3 books that were promised - usually $104.97 USD, but 100% FREE for you guys here. Below are the details copied from Steve's email: 1. Funny Money ($34.99) – A humorous, visual reality check on the world of money (made with talented cartoonist, Miguel Guerra). 2. New Economics Sampler ($34.99) – Groundbreaking realities that demolish outdated assumptions. 3. Macroeconomics for Engineers ($34.99) – The newest one. Often referred as the "Elon Is Wrong" Amazon category-bestseller. A deep dive into market dynamics from an engineer’s perspective. Thank you for your patience & trusting Steve in fighting the mainstream delusions today. I really hope you enjoy these books as much as everyone else has. P.S. I'm curious, which book are you going to read first?My fav is the cartoons from Funny Money but others really love the Elon one

I came upon this book because it shares a title with the workshop I recently attended by Jennifer Brandsberg-Engelmann. See https://www.skool.com/stevekeen/rebuilding-early-education-in-economics-regenerative-economics?p=c16f2fba I’m not sure if there’s a connection but this book has entirely the same viewpoint as Jennifer’s, even though she has a focus on secondary-school education. Fullerton aims at a wider audience, in a book that doesn’t offer solutions so much as frame the right questions - or rather it sets up an entirely different and appropriately-realistic attitude of mind. It address the problem that @Patrick Cunningham seems to have encountered recently with the UK Green Party. See https://www.skool.com/stevekeen/the-green-party-are-idealouges?p=4e83c3df Fullerman seems to be a classic case of the Prodigal Son, since he resigned from a top position at JP Morgan and spent at least a decade discovering all that was wrong with the world he had worked and prospered in for 20 years. I think his book is very relevant to the breadth of experience and interests that Skool members seem to have in looking for ways to reject and oppose the status quo that has led humanity to the brink. Might @Lucy Trinder especially like this book for its emphasis on holistic thinking? I especially like its insightful argument for something very innovative, suggesting an entirely new social institution based on recognising and claiming universally-shared ownership of the commons. Fullerton isn’t the source of that idea, but he makes a cracking good case for it. For me, that section alone justifies reading the book, because of the cascade of social and environmental justice that would likely result.

The key message of this new book will be quite familiar to electronic or servo-mechanical engineers - that time matters and that stocks give memory to a flowing system. But this message seems to be shocking, or rather is taken as heretical, in orthodox economics - as Tyrone Keynes says he expects. Of course, no engineers ever dealt with a system as multi-faceted and intricately-interwoven, or as large and as non-linear, as a whole economy. Tyrone Keynes here goes step-by step, with graphs and moderate mathematics, discussing and explaining as he goes. His written style is much more focussed and precise than the ‘off-the-cuff style of his Podcasts. What this book does is to scrupulously gather together and carefully deploy fragments of existing understanding. The triumph of the book surely arises from how Tyrone Keynes has taken the ‘straight-line’ dependencies conventionally identified by Keynesian economics and turned them into correctly-scaled and inter-connected relationships, expressed as a function of continuously-incrementing time. That’s a Herculean task that few economists - and of course no orthodox economists - have attempted. He shows how nonsensical and irresponsible a ’ceteris paribus’ assumption in economics truly is. Crucially, he demonstrates why the way that an economy evolves today is dependent not only on the forces it experiences today but also on where and how it changed in the past. History matters. The behaviour of two economies that are in precisely the same current state will be different if those economies reached that state by a different path. Tyrone Keynes demonstates the immense potential and power of economic modelling in Ravel software, not just for insightful academic research but for astute management of a business or the economy of a Nation. This book, and Steve Keen’s work that powers it, feels like one of the few reasons for optimism in today’s world - we stand on the shores of a new land of understanding. https://www.amazon.co.uk/Beyond-Equilibrium-Keynesian-Approach-Macroeconomics/dp/1069829609