Author | Lightnews

Patricia Pino @patriciapino.bsky.social · Apr 15

I don’t know why I didn’t announce it last week. But after taking some time in maternity leave I have now finally passed my PhD upgrade viva and I am now officially a PhD candidate at @iipp-ucl.bsky.social , looking at ways to model inflation risk in the economy. Yey!

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Patricia Pino @patriciapino.bsky.social · Apr 14

Radio pundits asking themselves why our Govt seems fine with foreign states running companies within the UK. Well, what private companies & foreign states have in common, of course, is that they can’t be held democratically accountable by us. Our govt is allergic to democracy.

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Patricia Pino @patriciapino.bsky.social · Mar 31

Btw…

“The government can put the rich in their place! … but… to do so it first needs to get some money from them”

… is not a coherent argument.

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Patricia Pino @patriciapino.bsky.social · Mar 26

That OBR forecast would have a lot more weight if it wasn’t because they tend to overestimate economic performance and underestimate the damage austerity causes *every* *single* *time*.

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Patricia Pino @patriciapino.bsky.social · Mar 25

How the government's "magic money" computers work.

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Patricia Pino @patriciapino.bsky.social · Mar 19

Maybe this is why he was so upset?

www.ft.com/content/62df...

$1.4bn is a lot to fall through the cracks, even for Tesla

When money spent on assets doesn’t result in assets

www.ft.com

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Patricia Pino @patriciapino.bsky.social · Mar 18

The priority of Fiat currencies should be to ensure workers and those who depend on them have reliable and decent incomes during both booms and recessions.

The priority of Fiat currencies should not be to protect the value of the assets of idle rich people.

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Patricia Pino @patriciapino.bsky.social · Mar 14

Reeves MUST know that further cuts will just deepen the recession. Surely she MUST know.

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Patricia Pino @patriciapino.bsky.social · Mar 12

If Trump doesn’t want a trade deficit why does he want the $ to stay as reserve currency? What’s the point? Does he even know what a reserve currency is?

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Patricia Pino @patriciapino.bsky.social · Mar 11

If you’re defending immigrants (and you should) please don’t argue that the main benefit of having them is to have an available underclass of people ready to work for peanuts.

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Patricia Pino @patriciapino.bsky.social · Mar 6

He wants people to believe that the benefit lies in receiving $ instead (the currency only the US issues). And on that basis argues other countries had the better end of that deal.

But why would the country that issues $ prioritise accumulating $ over real goods and services?

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Patricia Pino @patriciapino.bsky.social · Mar 6

The size of the US trade deficit is a reflection of its status as a world reserve currency. It is a position of privilege which allowed the US to benefit from consuming substantially more than it produced, gaining it *real* wealth. Trump now frames this as exploitative.

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Patricia Pino @patriciapino.bsky.social · Feb 26

Un the context of endogenous money, it is far more likely that the money supply responds to inflation. And not vice-versa.

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Patricia Pino @patriciapino.bsky.social · Feb 26

“You will never reach your destination if you stop and throw stones at every dog that barks.”

W.S.C

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Patricia Pino @patriciapino.bsky.social · Feb 19

Trump is a bag of contradictions:

“Anti imperialist, but lets annex Canada”

“The US is the victim, so we’re going to crush everyone because we can”

“We can’t go bankrupt as we create $, but govt debt is bankrupting us”

“$ reserve currency= good BUT countries saving $=bad”

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Patricia Pino @patriciapino.bsky.social · Dec 15

And of course another option is to offer generous training and employment for the currently unemployed in construction, so that we can deliver on these homes quicker.

Patricia Pino @patriciapino.bsky.social · Dec 15

Japan had to stop construction of some major works when the tsunami hit and they needed to rebuild homes.

We have to look at it like that. Otherwise either we simply can’t get started on building homes or we enter into a bidding war with the private sector for the few skilled labour there is.

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Patricia Pino @patriciapino.bsky.social · Dec 12

we become disconnected from the needs of those around us.

Amongst many others.

There are big BIG topics here. So I agree with the NYT review back in the day that claimed that this book “should be required reading for the entire human race”.

Anyway, back to economics. Enjoy!

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Patricia Pino @patriciapino.bsky.social · Dec 12

how language, and more specifically mythology (magical realism), can be used to convey truths or lie about it.

The difficult balancing act of remembering and learning from the past (our history) while avoiding becoming obsessed with it.

The solitude that results when for example,

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Patricia Pino @patriciapino.bsky.social · Dec 12

while being subjected to the mistakes of its leaders and balancing connection with the outer world while fending off unwelcomed external influences.

There are however many good lessons in there that will be relevant to other societies Eg.:

How we build meaning out of historical events. And

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Patricia Pino @patriciapino.bsky.social · Dec 12

use of a 3rd person narrator) that you maintain an emotional distance from them to be able to assess their faults and good attributes more critically.

The text is of huge importance to LATAM because its events feel familiar to our history. In general, a new society trying to forge its own way

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Patricia Pino @patriciapino.bsky.social · Dec 12

to modern moral standards.

Well, those events didn’t stand well to the moral standards of when the book was written either, or even the moral standard of its own author. So my view is you’re not really meant to identify with any individual characters morals. The novel encourages (e.g. through its

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Patricia Pino @patriciapino.bsky.social · Dec 12

One of the key complaints I hear from those who’ve read the novel (and I’m sure those who’ll see the series) is that it is difficult to identify with any one character (specially as there are so many). More so I’ve seen recent reviews that claim that certain events in the book don’t stand up well

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Patricia Pino @patriciapino.bsky.social · Dec 12

Watching “One hundred Years of Solitude” on Netflix (I’ve been waiting for this for years) and it’s as good as it possibly could have been. So recommend but not as highly as I recommend reading the actual book. 🧵

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Patricia Pino @patriciapino.bsky.social · Dec 2

Fascinating.

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