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.
CHICAGO TRIBUNE: 12/2/11:
“I did not make very much money in 2010, but I still feel I should pay at least something to offset some of the benefits I receive as a citizen”
Atanacio Garcia, 84, a retired postal worker from San Antonio, who donates $50 a month from his pension to the federal Bureau of the Public Debt, which accepts donations to pay down the nation’s debt.
Poor Mr. Garcia has been brainwashed by the debt-hawks into thinking he is helping America, when in fact he is hurting the economy by destroying $50 every month. Bit by bit, the media and the politicians, controlled by the 1%, deceive the 99% and encourage them steal their own futures and the futures of their children.
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. Two key equations in economics:
Federal Deficits – Net Imports = Net Private Savings
b>Gross Domestic Product = Federal Spending + Private Investment + Private Consumption + Net exports