Mitchell’s laws: Reduced money growth never stimulates economic growth. To survive long term, a monetarily non-sovereign government must have a positive balance of payments. Austerity breeds austerity and leads to civil disorder. Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
Here is a picture of a 3rd world country. Millions of people without health care insurance, and the Tea/Republicans trying to scuttle the plan that would insure these people.
Will the right wing succeed? The right-wing Supreme Court will evaluate all intricate technicalities to determine whether the Constitution has been violated.. What they will not evaluate: The effect on America.
My feeling: The Tea/Republicans should pray the Supreme Court does not vote right wing this time, or there will be hell and Tea/Republicans to pay. I have faith that one day very soon, a tipping point will be reached, and the public will understand that refusing health insurance for the poor is the way a nation dies. And so unnecessary.
Meanwhile, what a disgrace for America. 50 million people uninsured! That’s abysmal. Shameful. The 1% living like princes, and even the 99% undecided about whether to help those 50 million uninsured. Talk about an “I’ve got mine” mentality!
Sadly, this isn’t the America from WWII, that dove in and saved the bacon of the European and Eastern nations. This isn’t the America that instituted the Marshall plan. No way would that happen in today’s America. Today’s America builds border fences, not bridges.
This isn’t the magnanimous-in-victory America that paid to help Japan recover, despite the memories of Pearl Harbor. This isn’t the America that paid to airlift Berlin, despite memories of Naziism.
No, this is the selfish, me-first, Tea Party, fascist America, that looks away when someone begs for help. We are ruled by the “I can’t hear you; I can’t hear you.” so-called “patriots,” flag wavers who neither understand nor even want to understand Monetary Sovereignty, and so insist they as taxpayers are forced to fund federal spending, and helping their unfortunate neighbors simply is not on the list.
Millions of people suffer and even the 99% has been brainwashed into not giving a damn. But they will, when their own children and grandchildren inherit a Social Security and Medicare that have been gutted by “super committee” ignorance and callousness.
Hello, America. Knock, knock. The federal government is Monetarily Sovereign. It can support Medicare for everyone. It can support a more generous Social Security. It can eliminate poverty.
Why don’t you care?
Rodger Malcolm Mitchell
No nation can tax itself into prosperity, nor grow without money growth. Monetary Sovereignty: Cutting federal deficits to grow the economy is like applying leeches to cure anemia. The key equation in economics: Federal Deficits – Net Imports = Net Private Savings