●Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
●The more federal budgets are cut and taxes increased, the weaker an economy becomes. .
●Liberals think the purpose of government is to protect the poor and powerless from the rich and powerful. Conservatives think the purpose of government is to protect the rich and powerful from the poor and powerless.
●The single most important problem in economics is the gap between rich and poor.
●Austerity is the government’s method for widening the gap between rich and poor.
●Until the 99% understand the need for federal deficits, the upper 1% will rule.
●To survive long term, a monetarily non-sovereign government must have a positive balance of payments.
●Everything in economics devolves to motive, and the motive is the Gap.
In SOLUTION FOR THE GAP, I suggested that the long-term solution for unemployment was not for the government to be the “employer of last resort,” as Modern Monetary Theory (aka neo-chartalism) suggests, but rather for the government to be the “educator of first resort.”
That is, the government should pay not only for elementary, middle and high school, but also for college and advanced degrees. Further, I suggest that the government pay a wage for college attendance, to encourage the impoverished who might otherwise have to decide between work and education.
Low skilled jobs are disappearing from the economy. (See the lists, below.) Those without an advanced education will be at an increasing disadvantage. Merely putting people to work in such jobs can indeed address a short-term money problem, but it can exacerbate future economic problems.
Someone earning a living wage as a Walmart greeter, may be less motivated or have less opportunity to attend college, and so forever be relegated to low-paying jobs or increasingly, no job at all.
While many people do not wish to attend, or do not have the aptitude for, college, the government should do everything possible to facilitate college attendance, as a way to prepare for the future economic growth of America.
U.S. Department of Labor
The 30 occupations with the largest employment declines, 2008-18
Most significant source of postsecondary education: On the job training for all 30
Farmers and ranchers
Sewing machine operators
Postal service mail sorters, processors, and processing machine operators
Shipping, receiving, and traffic clerks
Office and administrative support workers
Packers and packagers, hand
Cutting, punching, and press machine setters, operators, and tenders, metal and plastic
Electrical and electronic equipment assemblers
Machine feeders and offbearers
Door-to-door sales workers, news and street vendors, and related workers
Information and record clerks, all other
Paper goods machine setters, operators, and tenders
Laborers and freight, stock, and material movers, hand
Miscellaneous agricultural workers
Data entry keyers
Inspectors, testers, sorters, samplers, and weighers
Switchboard operators, including answering service
Mail clerks and mail machine operators, except postal service
Lathe and turning machine tool setters, operators and tenders, metal and plastic
Grinding, lapping, polishing, and buffing machine tool setters, operators, and tenders
Textile winding, twisting, and drawing out machine setters, operators, and tenders
Postal service clerks
Multiple machine tool setters, operators, and tenders
Photographic processing machine operators
The 30 fastest-growing occupations, 2008-18
Most significant source of postsecondary education See list:
Biomedical engineers: Bachelors degree
Network systems and data communications analysts: Bachelor’s degree
Home health aides: Short-term on-the-job training
Personal and home care aides: Short-term on-the-jobtraining
Financial examiners: Bachelor’s degree
Medical scientists, except epidemiologists: Doctoral degree
Physician assistants: Master’s degree
Skin care specialists: Postsecondary vocational award
Biochemists and biophysicists: Doctoral degree
Athletic trainers: Bachelor’s degree
Physical therapist aides: Short-term on-the-job training
Dental hygienists: Associate degree
Veterinary technologists and technicians: Associate degree
Dental assistants: Moderate-term on-the-job training
Computer software engineers, applications: Bachelor’s degree
Medical assistants: Moderate-term on-the-job training
Physical therapist assistants: Associate degree
Veterinarians: First professional degree
Self-enrichment education teachers: Work experience in a related occupation
Compliance officers, except agriculture, construction, health and safety, and transportation: Long-term on-the-job training
Occupational therapist aides: Short-term on-the-job training
Environmental engineers: Bachelor’s degree
Pharmacy technicians: Moderate-term on-the-job training
Computer software engineers, systems software: Bachelor’s degree
Survey researchers: Bachelor’s degree
Physical therapists: Master’s degree
Personal financial advisors: Bachelor’s degree
Environmental engineering technicians: Associate degree
Occupational therapist assistants: Associate degree
Fitness trainers and aerobics instructors: Postsecondary vocational award
Rodger Malcolm Mitchell
No nation can tax itself into prosperity