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frapacioli.bsky.social

@frapacioli.bsky.social
91 followers 102 following 434 posts

‘If the first rule of democracy is “Learn how to count”, perhaps the first rule of economics should be “Learn how to account”.’ substack.com/@frapacioli?r=7dnd50&u…

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Reposted by @frapacioli.bsky.social
George Monbiot @georgemonbiot.bsky.social · 16h
In terms of messaging, this is very positive, and a big shift from the nature-hatefest of the Starmer administration. Mind you, most tree-planting is unnecessary: I'd like to see much more emphasis on natural regeneration. 🧵 www.theguardian.com/environment/...
theguardian.com
Half a million trees to be planted in England in three years, says government
Exclusive: Environment secretary Angela Eagle to make pledge as part of efforts to protect against extreme weather
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Nelly Probin @lillmagill.bsky.social · 14h
Climate breakdown and replacing fossil fuels with renewables wasn't mentioned in Burnham's address to conference. He's left the confirmation that he'll allow more North Sea drilling until after the Holborn & St Pancras by election. Pandering to vested interests again. Vote #Green 💚💚
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frapacioli.bsky.social @frapacioli.bsky.social · 29/09/2026
As the Labour Conference grinds on and the next neoliberal Budget approaches, your regular reminder. frapacioli.substack.com/p/fiscal-rul...
frapacioli.substack.com
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.
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Prem Sikka @premnsikka.bsky.social · 27/09/2026
Bank of England (BOE) governor says soaring energy prices could trigger interest rate rise. BOE will deplete business/household incomes by hiking costs. Force people to hand wealth to banks, boost their profits How about curbing profiteering, supply-chain problems, taxing those with surplus cash?
lbc.co.uk
Bailey's warning: Bank of England governor says soaring energy prices could trigger interest rate rise | LBC
The Bank has predicted that inflation will increase to around 3.7 per cent in the fourth quarter of this year and 4.2 per cent in the first quarter of 2027.
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Prem Sikka @premnsikka.bsky.social · 27/09/2026
UK Chancellor can easily increase income tax personal allowance by £3,000 a year. It will boost basic rate taxpayers by £600 a year. Millions will be helped. Benefit to higher rate taxpayers can be clawed back. The cost of £30bn can be met by ending bank subsidies, £100bn over the last 3 years.
leftfootforward.org
This is how the Chancellor can increase the personal allowance and lift millions out of hardship
Sustained economic growth can’t be achieved without a major boost to the purchasing power of the bottom 50% of the population
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frapacioli.bsky.social @frapacioli.bsky.social · 27/09/2026
This really is a no-brainer. And the failure of successive Chancellors to end it shows the timidity of elected politicians when dealing with money men – at the Bank of England, the Treasury and ‘the markets’. Dire.
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Prem Sikka @premnsikka.bsky.social · 27/09/2026
Interest on Reserves: The £100bn UK Bank Subsidy You Fund. Banks making £50bn profits a year receive subsidies, long ended by the EU. UK Treasury will payout over £150bn over a five-year period from 2023 to 2028. No justification for handling billions to banks. End bank subsidies, help people.
babelfish.news
Interest on Reserves: The £100bn UK Bank Subsidy You Fund
The Bank of England has paid commercial banks £100bn in interest on reserves in three years. The EU stopped doing it in 2023 – Dale Vince says Britain must too.
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frapacioli.bsky.social @frapacioli.bsky.social · 27/09/2026
Dear God. We might as well be back in 2010-15 with Osborne at the Treasury – and that went well, didn’t it?
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frapacioli.bsky.social @frapacioli.bsky.social · 27/09/2026
Dear God. We might as well be back in 2010-15 with Osborne at the Treasury – and that went well, didn’t it?
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frapacioli.bsky.social @frapacioli.bsky.social · 25/09/2026
Loving the emojis here.
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frapacioli.bsky.social @frapacioli.bsky.social · 23/09/2026
frapacioli.substack.com/p/the-self-f...
frapacioli.substack.com
The Self-Financing State
A Layperson's Summary
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frapacioli.bsky.social @frapacioli.bsky.social · 23/09/2026
That Sister Georgieva, head of the IMF, can talk such nonsense about the sovereign debt of advanced economies is extremely worrying. The neoliberal poison of the household analogy has gone very deep and very wide. www.bbc.co.uk/news/article...
bbc.co.uk
Rich nations must cut debt as global shocks push up borrowing costs, IMF chief tells BBC
In an interview with the BBC, Kristalina Georgieva says economic shocks had pushed "debt levels up like a staircase not to heaven".
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Prem Sikka @premnsikka.bsky.social · 21/09/2026
Neoliberals want to end the triple-lock on state pension They inflict low wages, consign millions to poverty. Govt spending on state pension as % of GDP in G7 countries. Italy 12.8 France 12 Germany 9.8 Japan 8.9 USA 6.6 Canada 4.7 UK 4.7 UK has one of the least generous pensions in the G7.
adviserservices.fidelity.co.uk
How does the UK State Pension measure up globally?
A global comparison of State Pension provision highlights the onus on individuals in the UK to build pension savings for their retirement, rather than leaving
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🦎 Jen - It's the Stupid People, Stupid 🐝 @jennifereccles.bsky.social · 21/09/2026
WAKE UP WORLD. www.theguardian.com/environment/...
theguardian.com
‘Jaw-dropping’ El Niño bursts through temperature record months before peak
‘Godzilla-level’ phenomenon is supercharging the climate crisis and will have a huge impact on communities across the world
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Climate Change Breaking News @climatechangenews.bsky.social · 21/09/2026
This strongest of all El Niños has suppressed all hurricane activity so far this season.
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frapacioli.bsky.social @frapacioli.bsky.social · 21/09/2026
Why this continued fetishistic attention to the bond markets? They’re full of traders simply betting on which way the wind will blow - and the government doesn’t need them to finance its spending.
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frapacioli.bsky.social @frapacioli.bsky.social · 20/09/2026
Basically, the argument is a simple one - the (democratic) state is back because markets can’t solve the problems they have made.
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Mark E Thomas FB99% FBPE @mrmarkethomas.bsky.social · 12/01/2026
This week’s letter to 99% members is a bit of a mythbuster. What if what we are told about the 1970s is just plain wrong? sh1.sendinblue.com/3g7dqf62bglp...
John Maynard Keynes
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Mark E Thomas FB99% FBPE @mrmarkethomas.bsky.social · 31/07/2025
Thread (1/38) Three Baseless Taboos are Derailing National Renewal
A diagram showing how accepting the taboos leads to failure
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Jonathan Portes @jdportes.bsky.social · 19/09/2026
A much better thread than @jonathanfreedland.bsky.social's original article
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Jay Rayner @jayrayner1.bsky.social · 19/09/2026
Brace yourselves. I have found the most annoying thing on the Internet. Behold: fridge styling. Frankly I think we might as well let our AI overlords finish us off.
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Twlldun @twlldun.bsky.social · 19/09/2026
I think the prime minister should have said this
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Tom Clark @tom-clark.bsky.social · 19/09/2026
The BBC has decided that this constitutes news… A man who left for Monaco several years ago declaring he’s ’lost confidence’ in the UK His qualification for making the headlines? Owning £15bn Broadcasting like democracy already died! www.bbc.co.uk/news/article...
bbc.co.uk
Billionaire Manchester United owner Sir Jim Ratcliffe says he has lost confidence in UK
Ineos founder Sir Jim Ratcliffe tells the BBC he thinks the country is "on the slide" and calls for more investment in the North Sea.
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George Monbiot @georgemonbiot.bsky.social · 18/09/2026
As former Labour minister Tom Watson joins Palantir, please read this devastating exposé by @petergeoghegan.bsky.social & @lucasamin.bsky.social of how the company, with Peter Mandelson's help, wormed its way into the UK government to sell its dire & dangerous products. www.lrb.co.uk/the-paper/v4...
lrb.co.uk
Peter Geoghegan and Lucas Amin · ‘This looks absolutely rubbish’: Palantir and the NHS
A decade ago Palantir was largely unknown in the UK. It now holds public contracts worth hundreds of millions of pounds...
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frapacioli.bsky.social @frapacioli.bsky.social · 17/09/2026
It's an ill wind... literally. Gamblers – 'traders' – trying to find profit in the climate crisis. Turns the stomach.
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frapacioli.bsky.social @frapacioli.bsky.social · 16/09/2026
You read this and marvel (aka despair) at the ‘sensible fools’ managing the UK governments finances. And who gets to pick up the real world bill? The UK citizen, especially the most vulnerable. billmitchell.org/blog/?p=63371
billmitchell.org
The elaborate farce being played out between the Bank of England and the British Treasury – William Mitchell – Modern Monetary Theory
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William Mitchell @billmitchell.org · 16/09/2026
Thursday's blog post (17/09) is now posted (06:30 EAT) - The elaborate farce being played out between the Bank of England and the British Treasury - billmitchell.org/blog/?p=63371
billmitchell.org
The elaborate farce being played out between the Bank of England and the British Treasury – William Mitchell – Modern Monetary Theory
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Richard Murphy @richardjmurphy.bsky.social · 16/09/2026
Bitcoin has an accounting problem which suggests it isn’t money www.taxresearch.org.uk/Blog/2026/09...
taxresearch.org.uk
Bitcoin has an accounting problem which suggests it isn’t money
I was recently asked whether accounting provides a useful way to answer a question that has surrounded Bitcoin since its creation: is it really money? There is an important distinction to make at the...
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Jeff Berardelli @weatherprof.bsky.social · 16/09/2026
The heat dome across the eastern US this week is record shattering. With perhaps the exception of the Spring heat dome in the West, the record breaking extent is the biggest swath I’ve seen all season. Follow along for some interesting comparisons… 1/
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Prem Sikka @premnsikka.bsky.social · 15/09/2026
Bank of England created £895bn quantitative easing, bought gilts/bonds, speculators profited. Govt could keep them, save interest/redemption costs. NO. It is selling them at £120bn loss. Pushing up interest rates Adding £47bn to govt debt The City profits again. www.theguardian.com/business/202...
theguardian.com
Bank of England urged to slow or halt bond-selling to slash UK borrowing costs
Economists urge John Healey to press Bank to change policy that is costing the exchequer billions of pounds
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frapacioli.bsky.social @frapacioli.bsky.social · 14/09/2026
Oh dear. ‘Sound money’. ‘Fiscal discipline’. We’re f*cked.
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Prem Sikka @premnsikka.bsky.social · 14/09/2026
US Justice Dept and Reform donor Ben Delo. Pled guilty to violating the Bank Secrecy Act. Built a company designed to flout US law; willfully failed to implement and maintain even basic anti-money laundering policies. $10 million criminal fine. 30 months of probation, waived by Trump.
justice.gov
 
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frapacioli.bsky.social @frapacioli.bsky.social · 14/09/2026
100% agree. A demolition of almost 50 years of neoliberal economics in 835 words.
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Richard Murphy @richardjmurphy.bsky.social · 14/09/2026
Why economics needs empathy: the latest in my series on understanding economics youtu.be/wMxXAgzmMH0?...
youtu.be
Why economics needs empathy: Understanding economics
YouTube video by Richard J Murphy
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Prem Sikka @premnsikka.bsky.social · 13/09/2026
Neoliberals have neutered direct state investment in infrastructure. Everything is privatised, state guarantees profits. UK languishes at or near the bottom of the OECD league for investment in productive assets. China invests over 41% of its GDP in productive assets, India 34.3%, UK 17.9%.
leftfootforward.org
Here’s how the chancellor can raise the billions needed to improve the quality of life of millions
Prem Sikka is an Emeritus Professor of Accounting at the University of Essex and the University of Sheffield, a Labour member of the House of Lords, and Contributing Editor at Left Foot Forward. Mi...
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David Ho @davidho.bsky.social · 12/09/2026
If you work at an oil major, I urge you to think hard about what the next decade will feel like. Do you want to greenlight another decades-long extraction project without reckoning with its full climate cost? Or use this moment to demand a different path?
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David Ho @davidho.bsky.social · 12/09/2026
Treating this as an unstoppable race, and accepting the "endgame" of runaway warming, is a reckless gamble that should never be decided in a boardroom alone. Betting on future carbon removal to fix today's emissions requires far more confidence than the evidence supports.
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David Ho @davidho.bsky.social · 12/09/2026
A common response is "if they know this, why keep drilling?" At BP, many have not internalized the stakes personally. At ExxonMobil, the stakes are well understood, but they're locked in a race for market share, believing if they don't extract it, a competitor will.
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David Ho @davidho.bsky.social · 12/09/2026
Do not underestimate the scale of this climate crisis. We are watching feedback loops accelerate, ice sheet collapse, ocean heat content, methane release, that could lock in irreversible warming. We have all witnessed the data, and it is not slowing down.
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David Ho @davidho.bsky.social · 12/09/2026
The people running these companies believe that climate change could kill us all by the end of the decade. This is not a fringe worry. Publicly, many executives soften their language to sound reasonable, but privately, the fear is real. No other industry poses this level of danger to civilization.
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David Ho @davidho.bsky.social · 12/09/2026
I resigned from ExxonMobil today. I spent the last three years doing fossil fuel extraction research at both BP and ExxonMobil. Neither company is acting responsibly. They are racing to maximize extraction while the window to act closes, and gambling with our lives. More below.
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Prem Sikka @premnsikka.bsky.social · 12/09/2026
What neoliberalism did to the UK. 25.3m people, including 14.9m working adults and 7.7m children, live below minimum income standard. Richest 1% has more wealth than the bottom 70% of the population combined. 50 families hold more wealth than 34m people. Can't grow economy on mass poverty.
leftfootforward.org
Here’s how the chancellor can raise the billions needed to improve the quality of life of millions
Prem Sikka is an Emeritus Professor of Accounting at the University of Essex and the University of Sheffield, a Labour member of the House of Lords, and Contributing Editor at Left Foot Forward. Mi...
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Robert Saunders @robertsaunders.bsky.social · 12/09/2026
A serious democratic society simply cannot allow this. That's £72 million from just two men. (Both, until lately, based overseas). The average UK earner (full-time) would have to work for over 1,800 years to raise that much. It's a nuclear strike on any pretence at the equality of political power
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Prem Sikka @premnsikka.bsky.social · 12/09/2026
Politics for Sale Reform UK received a second £36m donation in as many days, as Thailand-based crypto billionaire matches £36m from another billionaire. Billionaires with criminal record or living abroad buying influence. Normal people people can't compete. Get ready for Farage propaganda blitz.
bbc.co.uk
Reform receives second £36m donation in two days as crypto investor matches record
The party says the money will allow it to fight the next election on a "level playing field", while rivals have renewed calls for donations from individuals to be capped.
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Luke Turner @luketurner.com · 31/03/2026
I can now reveal that crypto billionaire Ben Delo—pardoned by Trump after a conviction for anti-money-laundering violations—privately funded the failed libel action brought against me by neo-Nazi conspiracy theorists Nina Power and Daniel Miller to the tune of at least £300,000.
Ben Delo, Nina Power and Daniel 'DC' Miller.
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David Henig @davidheniguk.bsky.social · 11/09/2026
Though the jokes sometimes tend to overlook that by far the most inept and corrupt administration in US history may well be driving us towards another global financial crisis.
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Giles Wilkes @gilesyb.bsky.social · 12/09/2026
“The labs are saying to governments: ‘We’re quite likely to kill every human being on Earth; please stop us.’ Governments respond with ‘Can we give you a tax break? Build you a datacenter?.” giftarticle.ft.com/giftarticle/...
giftarticle.ft.com
Why the AI race has its creators fearing human extinction
Advances in autonomous agents and bitter rivalry between Anthropic and OpenAI have pushed once-fringe fears into the mainstream
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Richard Murphy @richardjmurphy.bsky.social · 11/09/2026
There is no objective number in accounting or in the relationships it records. That fact is necessarily implicit in double-entry, where a debit must be matched by a credit. In turn, those entries exist in relationship to transactions. An infographic, which I wrote and AI drew:
An infographic on accounting and entanglement.
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