@DNC
@KamalaHarris
@VP
@AOC
@LeaderMcConnell

So since President Joe Biden has campaigned on, and his message yesterday was, a message of

UNITY and HEALING,

let’s “unify”. Here’s THE point of departure: Let go of the vindictive desire to

I am bemused by those who demand that we repay the UK government’s debt. It makes me wonder, do they know what it is? And how do they think it can be repaid? And do they appreciate the consequences? A thread is coming on......bear with me, because I think you need to know this.

First, what is the UK government’s debt? I’ve immersed myself in this issue and can confidently say the Office for National Statistics’s figures are wrong, most especially because they claim that the UK government is in debt by owing money to itself. That’s not possible.

Whatever the Office for National Statistics like to claim, money you owe yourself is not debt, and so quantitative easing cancels about £800 billion of UK national debt right now. There are other mistakes in their numbers, but I’ll just stick with this one for the moment.

So, if the ONS claim the national debt is around £2.1 trillion at present, it isn’t. Allowing for the UK government owning around £800 billion of its own debt the figure reduces to maybe £1.3 trillion, give or take a bit. But that, I hasten to add, is not the end of the story.

It’s important to understand that the ONS includes some things few would think of as debt in their figures. For example, around £200 billion (£0.2 trillion) of National Savings balances are included in the national debt. Whoever knew Premium Bond holders were such a burden?

OK. I have seen a lot of attempted dunking on Texas...red state bad, bad government, etc...because of the electricity issue in this record cold. So, I am going to do a thread here. I am no engineer, but I want to point out some obvious facts. 1/n

This is a natural disaster of large proportions. At no time in recorded have this many Texas counties been below freezing for so long...ever. We are prepared for short stints, not an ice age. It snowed on Galveston island and much of the state is covered in snow and ice.

This chart shows electricity production since Feb 4. Note the large share from wind prior to the cold snap. Texas typically does not use as much electricity in winter, so gas plants are typically offline and have smaller reserves of gas.

But as the cold hit, renewable production fell by as much as 93%. Gas plants fired up and easily met the ERCOT stress test levels initially, but electricity quantity demanded was rising, so was gas for heating. Eventually, there were shortages of gas that led to a drop in prod.

Why shortages? Because gas producers were contractually obligated to export gas all the while residential heating demand was rising as well...hence Gov Abbot's order. It provides more cover for force majeure contract breakage.