Legal Alien UK
@legalalienuk.bsky.social
American Finance lawyer in London.
Views are my own, and not legal advice.
Views are my own, and not legal advice.
One of the most economically illiterate and incoherent articles I’ve read in a while. “Borrowing costs”, aka GILT yields, have very little to do with the real economy, and there’s no reason why the BofE couldn’t control the yield curve if they so wished.
stocks.apple.com/AXaulbx4SQr6...
stocks.apple.com/AXaulbx4SQr6...
UK Bond Selloff Puts Reeves’ Economic Project on the Brink — Bloomberg
Borrowing costs have risen, pound has declined to lowest in more than a year
stocks.apple.com
January 10, 2025 at 1:36 PM
One of the most economically illiterate and incoherent articles I’ve read in a while. “Borrowing costs”, aka GILT yields, have very little to do with the real economy, and there’s no reason why the BofE couldn’t control the yield curve if they so wished.
stocks.apple.com/AXaulbx4SQr6...
stocks.apple.com/AXaulbx4SQr6...
Reposted by Legal Alien UK
UK retailers warn of 4.2% food price rise later this year.
Any chance of cutting profit margins, exec pay, dividends, share buybacks, thought not.
Visit any food bank and you will find supermarket workers queuing. Despite huge profits work doesn't pay enough.
www.theguardian.com/business/202...
Any chance of cutting profit margins, exec pay, dividends, share buybacks, thought not.
Visit any food bank and you will find supermarket workers queuing. Despite huge profits work doesn't pay enough.
www.theguardian.com/business/202...
Retailers warn of higher prices in 2025 and urge ministers to ease tax burden
Companies grappling with higher employment costs say price of food may rise by 4.2% in latter half of year
www.theguardian.com
January 9, 2025 at 2:21 PM
UK retailers warn of 4.2% food price rise later this year.
Any chance of cutting profit margins, exec pay, dividends, share buybacks, thought not.
Visit any food bank and you will find supermarket workers queuing. Despite huge profits work doesn't pay enough.
www.theguardian.com/business/202...
Any chance of cutting profit margins, exec pay, dividends, share buybacks, thought not.
Visit any food bank and you will find supermarket workers queuing. Despite huge profits work doesn't pay enough.
www.theguardian.com/business/202...
Reposted by Legal Alien UK
England's listed water companies pay more in dividends than private ones
United Utilities, Severn Trent Water, Pennon paid £3.6bn dividends since 2020, 61% of the total for water sector.
Dents Ofwat claim that relisting of companies will improve performance
Must nationalize water
archive.ph/FVD4I
United Utilities, Severn Trent Water, Pennon paid £3.6bn dividends since 2020, 61% of the total for water sector.
Dents Ofwat claim that relisting of companies will improve performance
Must nationalize water
archive.ph/FVD4I
Listed UK water utility dividends exceed private peers’ payouts for first time since Thatcher
First-time publicly traded companies pay out more than privately held rivals since privatisation
www.ft.com
January 9, 2025 at 6:37 PM
England's listed water companies pay more in dividends than private ones
United Utilities, Severn Trent Water, Pennon paid £3.6bn dividends since 2020, 61% of the total for water sector.
Dents Ofwat claim that relisting of companies will improve performance
Must nationalize water
archive.ph/FVD4I
United Utilities, Severn Trent Water, Pennon paid £3.6bn dividends since 2020, 61% of the total for water sector.
Dents Ofwat claim that relisting of companies will improve performance
Must nationalize water
archive.ph/FVD4I
This was only unexpected if you refused to listen to the #MMT economists telling you that if you cut government spending, the economy will shrink.
UK’s economy shrinks unexpectedly by 0.1% in October
GDP figures underline scale of challenge for Labour to get the economy growing
www.theguardian.com
December 13, 2024 at 8:36 AM
This was only unexpected if you refused to listen to the #MMT economists telling you that if you cut government spending, the economy will shrink.
Reposted by Legal Alien UK
I think maybe I detest all tech bros forever
Meta donates $1mn to Donald Trump’s inauguration fund
First-time contribution shows social media platform and its chief are trying to mend relations with president-elect
www.ft.com
December 12, 2024 at 6:20 AM
I think maybe I detest all tech bros forever
For #MMT people interested in the UK, curious what you think of the new consultation paper from the BofE today, and their move from a supply to demand driven reserve framework.
www.bankofengland.co.uk/paper/2024/d...
www.bankofengland.co.uk/paper/2024/d...
Transitioning to a repo-led operating framework
Discussion paper
www.bankofengland.co.uk
December 9, 2024 at 8:58 PM
For #MMT people interested in the UK, curious what you think of the new consultation paper from the BofE today, and their move from a supply to demand driven reserve framework.
www.bankofengland.co.uk/paper/2024/d...
www.bankofengland.co.uk/paper/2024/d...
Reposted by Legal Alien UK
Reposted by Legal Alien UK
The EU fiscal rules are an impossible equation. Now that Chinese industry is catching up in terms of innovation and quality, the only thing europeans can expect is persistent recession, because there's no way to balance the trumbling exporting machine. The fiscal rules are immutable.
French government collapses in no-confidence vote
Michel Barnier's ousting over a budget bill deepens France's current political crisis.
www.bbc.com
December 4, 2024 at 9:00 PM
The EU fiscal rules are an impossible equation. Now that Chinese industry is catching up in terms of innovation and quality, the only thing europeans can expect is persistent recession, because there's no way to balance the trumbling exporting machine. The fiscal rules are immutable.
With business practices like this, I often wonder why America’s gun violence epidemic isn’t pointed at those who actually make the decisions. It seems like that has happened today to the United Healthcare CEO. Hopefully decision makers take a moment to reflect.
www.nytimes.com/2024/03/14/o...
www.nytimes.com/2024/03/14/o...
Opinion | ‘What’s My Life Worth?’ The Big Business of Denying Medical Care
Insurance companies have weaponized a seemingly benign process to protect their profits, and it’s putting patients at risk.
www.nytimes.com
December 4, 2024 at 7:58 PM
With business practices like this, I often wonder why America’s gun violence epidemic isn’t pointed at those who actually make the decisions. It seems like that has happened today to the United Healthcare CEO. Hopefully decision makers take a moment to reflect.
www.nytimes.com/2024/03/14/o...
www.nytimes.com/2024/03/14/o...
Reposted by Legal Alien UK
The world needs crypto like a fish needs a bicycle.
December 1, 2024 at 10:31 PM
The world needs crypto like a fish needs a bicycle.
Reposted by Legal Alien UK
🚨Stephanie Kelton, author of The Deficit Myth, has a newsletter. Oh and she's on Bluesky.
The next 4 years are going to be a rollercoaster. I’ll share most of my running commentary and analysis via my newsletter. Sign up if you’d like to follow along.
stephaniekelton.substack.com
stephaniekelton.substack.com
The Lens | Stephanie Kelton | Substack
Economic analysis, research, and commentary using the lens of MMT. Click to read The Lens, by Stephanie Kelton, a Substack publication with tens of thousands of subscribers.
stephaniekelton.substack.com
November 26, 2024 at 11:58 AM
🚨Stephanie Kelton, author of The Deficit Myth, has a newsletter. Oh and she's on Bluesky.
Just reminding people of this classic, in case anyone seems to have forgotten how corrupt and pathetic the justice department is when it comes to holding the executive branch accountable.
www.simonandschuster.com/books/The-Ch...
www.simonandschuster.com/books/The-Ch...
The Chickenshit Club
Winner of the 2018 Excellence in Financial Journalism Award From Pulitzer Prize–winning journalist Jesse Eisinger, “a fast moving, fly-on-the-wall...
www.simonandschuster.com
November 25, 2024 at 6:35 PM
Just reminding people of this classic, in case anyone seems to have forgotten how corrupt and pathetic the justice department is when it comes to holding the executive branch accountable.
www.simonandschuster.com/books/The-Ch...
www.simonandschuster.com/books/The-Ch...
This shows the power of right wing propaganda and character assassination on the public. The less policy matters in the public debate, the worse the politicians can be.
Your regular reminder 👇
🏥 81% want publicly owned NHS
🏫 78% want publicly owned schools
💧 73% want publicly owned water
🚂 70% want publicly owned rail
✉️ 70% want publicly owned mail
🚍 67% want publicly owned buses
💡 65% want publicly owned energy
🏥 81% want publicly owned NHS
🏫 78% want publicly owned schools
💧 73% want publicly owned water
🚂 70% want publicly owned rail
✉️ 70% want publicly owned mail
🚍 67% want publicly owned buses
💡 65% want publicly owned energy
EXCLUSIVE: Poll shows huge support for nationalisation of key industries and utilities
Privatisation has failed.
leftfootforward.org
November 25, 2024 at 9:25 AM
This shows the power of right wing propaganda and character assassination on the public. The less policy matters in the public debate, the worse the politicians can be.
Reposted by Legal Alien UK
Truly recommend Nathan's election piece to anyone--and especially anyone saying "it's the economy." Yes, but how?
Aside from the really clear & careful analysis of what went on over relevant time period, read for the enduring insights about use of CPI in reports of economic conditions
Aside from the really clear & careful analysis of what went on over relevant time period, read for the enduring insights about use of CPI in reports of economic conditions
I don't make this point in the piece, but the idea that the CARES act was extremely regressive which circulated so much in 2020 is extremely preposterous when you look at how absurdly progressive the impact the pandemic safety net was on income inequality
www.crisesnotes.com/one-election...
www.crisesnotes.com/one-election...
One Election Takeaway: Voters Hate Temporary Safety Nets
Announcement: I'm putting on an end of year sale. For just 55 dollars a year you can subscribe and receive premium pieces of Notes on the Crises. This also helps support the FOIA efforts I've been eng...
www.crisesnotes.com
November 24, 2024 at 9:30 PM
Truly recommend Nathan's election piece to anyone--and especially anyone saying "it's the economy." Yes, but how?
Aside from the really clear & careful analysis of what went on over relevant time period, read for the enduring insights about use of CPI in reports of economic conditions
Aside from the really clear & careful analysis of what went on over relevant time period, read for the enduring insights about use of CPI in reports of economic conditions
Reposted by Legal Alien UK
the U.S. press does not require that Republicans take real ownership of unpopular and harmful policy
I know a lot of folks at major outlets are conditioned to BELIEVE they do, but they really don't, and never have
I know a lot of folks at major outlets are conditioned to BELIEVE they do, but they really don't, and never have
A Trump Judge Just Nixed Overtime Pay for Millions—and Media Yawned
Remember the right-wing frenzy over “Rich Men North of Richmond”? Well, this ruling exposes Trump-MAGA hypocrisy on the working class—and reveals a big media failure.
www.yahoo.com
November 21, 2024 at 6:42 PM
the U.S. press does not require that Republicans take real ownership of unpopular and harmful policy
I know a lot of folks at major outlets are conditioned to BELIEVE they do, but they really don't, and never have
I know a lot of folks at major outlets are conditioned to BELIEVE they do, but they really don't, and never have
Reposted by Legal Alien UK
Just up. open.substack.com/pub/stephani...
November 21, 2024 at 7:15 PM
Just up. open.substack.com/pub/stephani...
I’m sure all the MAGA rednecks are super stoked that Wall Street is going to demolish their living standards in the coming years.
Pro tip: If the people who make their money by preying on the working class are happy, then you should be worried.
November 18, 2024 at 10:20 AM
I’m sure all the MAGA rednecks are super stoked that Wall Street is going to demolish their living standards in the coming years.
Reposted by Legal Alien UK
We should listen to the sprit of FDR’s Second Economic Bill of Rights
And wonder how it is that our elite influencers and shakers and policy makers decided to create an Oligarchy
And wonder how it is that our elite influencers and shakers and policy makers decided to create an Oligarchy
November 17, 2024 at 8:05 PM
We should listen to the sprit of FDR’s Second Economic Bill of Rights
And wonder how it is that our elite influencers and shakers and policy makers decided to create an Oligarchy
And wonder how it is that our elite influencers and shakers and policy makers decided to create an Oligarchy
Reposted by Legal Alien UK
6/
I’ve had legal folks with large followings mute or block me for trying to get them to understand that money is not a coin
It’s the law
It’s so sad
I’ve had legal folks with large followings mute or block me for trying to get them to understand that money is not a coin
It’s the law
It’s so sad
November 17, 2024 at 8:49 PM
6/
I’ve had legal folks with large followings mute or block me for trying to get them to understand that money is not a coin
It’s the law
It’s so sad
I’ve had legal folks with large followings mute or block me for trying to get them to understand that money is not a coin
It’s the law
It’s so sad
Reposted by Legal Alien UK
Blocking Nazis, trolls, and fascists doesn’t make it an “echo chamber.” People need to stop gaslighting us into thinking we have to listen to Nazis and debate trolls in order to be informed.
November 17, 2024 at 12:52 AM
Blocking Nazis, trolls, and fascists doesn’t make it an “echo chamber.” People need to stop gaslighting us into thinking we have to listen to Nazis and debate trolls in order to be informed.
This list was super helpful. Even had some new names I didn’t previously have on twitter.
Hey, #MMT community, I've started a list of accounts that are good follows for #MMT or MMT-adjacent content. This is meant to be interdisciplinary (economists, legal scholars, historians, media, scientists, etc.)
Suggestions are welcome as I know I'm missing many names.
go.bsky.app/ALSQ1JE
Suggestions are welcome as I know I'm missing many names.
go.bsky.app/ALSQ1JE
November 17, 2024 at 12:01 PM
This list was super helpful. Even had some new names I didn’t previously have on twitter.
Reposted by Legal Alien UK
