–The Neville Chamberlain lesson, not learned Wednesday, Apr 1 2015 

Twitter: @rodgermitchell; Search #monetarysovereignty
Facebook: Rodger Malcolm Mitchell

Mitchell’s laws:
●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.
●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.
==================================================================================================================================================================

Sometimes no comments are needed.

Consider this:

“How horrible, fantastic, incredible it is that we should be digging trenches and trying on gas masks here because of a quarrel in a far-away country between people of whom we know nothing.”

—Neville Chamberlain, 27 September 1938, 8 p.m. radio broadcast, on Czechoslovak refusal to accept Nazi demands to cede border areas to Germany.

And this:

The Obama Watch, Obama’s Strange Iran Negotiations
He turns down a bargaining chip from Congress.
By Scott McKay –

Two senators, Republican Mark Kirk and Democrat Bob Menendez, have authored a bill to impose tougher economic sanctions on Iran if it ultimately refuses to honor the demands of the international community as regards its nuclear weapons program.

President Barack Obama has now pledged to veto that bill.

Obama said in a written statement last week that threatened a veto of the bill. “Imposing additional sanctions now will only risk derailing our efforts to resolve this issue peacefully.”

Not only has Obama rejected the bill, he touched off an intraparty squabble with Menendez and other Democrats by attacking it as the product of influence by “donors and others” — which many have interpreted as code for influential Jews protecting Israeli interests.

PowerLine’s Paul Mirengoff suggests (Obama’s) willing to give away the store to Iran in order to set the stage for a grand bargain with the mullahs that will magically solve the problems in the Middle East.

And this:

Iranian General: ‘Erasing Israel Off the Map’ Is ‘Nonnegotiable’

The commander of the Basij militia of Iran’s Revolutionary Guards said in an interview that “erasing Israel off the map” is “nonnegotiable.”

“The Zionists should know that the next war won’t be confined to the present borders and the Mujahedeen will push them back,” he added.

Fars News also quoted Naqdi threatening both Saudi Arabia and the United States.

Any questions, college students?

Rodger Malcolm Mitchell
Monetary Sovereignty

monetary sovereignty
THE OBAMA NEGOTIATIONS

===================================================================================
The Ten Steps to Prosperity:

1. Eliminate FICA (Click here)
2. Federally funded Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Provide an Economic Bonus to every man, woman and child in America, and/or every state a per capita Economic Bonus. (Click here) Or institute a reverse income tax.
4. Federally funded, free education (including post-grad) for everyone. Click here
5. Salary for attending school (Click here)
6. Eliminate corporate taxes (Click here)
7. Increase the standard income tax deduction annually. (Refer to this.)
8. Tax the very rich (.1%) more, with higher, progressive tax rates on all forms of income. (Click here)
9. Federal ownership of all banks (Click here and here)
10. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)

Initiating The Ten Steps sequentially will add dollars to the economy, stimulate the economy, and narrow the income/wealth/power Gap between the rich and the rest.
——————————————————————————————————————————————

10 Steps to Economic Misery: (Click here:)
1. Maintain or increase the FICA tax..
2. Spread the myth Social Security, Medicare and the U.S. government are insolvent.
3. Cut federal employment in the military, post office, other federal agencies.
4. Broaden the income tax base so more lower income people will pay.
5. Cut financial assistance to the states.
6. Spread the myth federal taxes pay for federal spending.
7. Allow banks to trade for their own accounts; save them when their investments go sour.
8. Never prosecute any banker for criminal activity.
9. Nominate arch conservatives to the Supreme Court.
10. Reduce the federal deficit and debt

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.
1. A growing economy requires a growing supply of dollars (GDP=Federal Spending + Non-federal Spending + Net Exports)
2. All deficit spending grows the supply of dollars
3. The limit to federal deficit spending is an inflation that cannot be cured with interest rate control.
4. The limit to non-federal deficit spending is the ability to borrow.

THE RECESSION CLOCK
Monetary Sovereignty

Monetary Sovereignty

Vertical gray bars mark recessions.

As the federal deficit growth lines drop, we approach recession, which will be cured only when the growth lines rise. Increasing federal deficit growth (aka “stimulus”) is necessary for long-term economic growth.

#MONETARYSOVEREIGNTY

–Jacob Sullum says, “Ted Cruz is Right About Taxes” Really? Saturday, Mar 28 2015 

Twitter: @rodgermitchell; Search #monetarysovereignty
Facebook: Rodger Malcolm Mitchell

Mitchell’s laws:
●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.
●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.
==================================================================================================================================================================

Direct quote from Reason Magazine:

“Jacob Sullum is a senior editor at Reason magazine and Reason.com and a nationally syndicated columnist.

Sullum’s weekly column, distributed by Creators Syndicate, is carried by newspapers across the U.S., including the New York Post and the Chicago Sun-Times.

His work also has appeared in The Wall Street Journal, USA Today, The New York Times, the Los Angeles Times, the San Francisco Chronicle, Cigar Aficionado, National Review, and many other publications.

He blogs about drug policy for Forbes.”

Perhaps Mr. Sullum should focus on drug policy, because when he blogs about tax policy, he goes astray.

Ted Cruz Is Right About Taxes
The Internal Revenue Code’s headache-inducing complexity is a scandal.
Jacob Sullum | March 25, 2015

“Instead of a tax code that crushes innovation [and] imposes burdens on families struggling to make ends meet,” Cruz said, “imagine a simple flat tax that lets every American file his or her taxes on a postcard.”

Flat-tax proponents, including several Republican presidential candidates, have been asking us to imagine a postcard-sized tax return for more than three decades.

If it still sounds far-fetched, that is only because we are sadly accustomed to jumping through hoops for the privilege of parting with our money.

Sounds lovely, doesn’t it? A simple little post card on which you write your income and multiply it by some percentage — and that’s it. Who wouldn’t want such simplicity?

Except for a few tiny details, wherein the devil resides.

First, what is income? You own stocks and they appreciate, but you don’t sell them. Is that income? You own stocks and they depreciate, and you don’t sell them. Is that a deduction from income?

You sell stocks that have appreciated. Income? Sell stocks that have depreciated? Deduction?

You give money to your young children. Income? You give stocks to your young children. Income? You receive life, health or accident insurance payments. You pay FICA, the receive Social Security. You win a free vacation. Income?

Your house burns down. Deduction from income? You win a lawsuit. Income? You lose a suit. Deduction from income?

Half your income comes from an overseas job. Income? Large medical expenses. Deduction? You child receives a scholarship. Income? Are Medicare and Medicaid benefits income? Food and housing for the poor. If the government wants to help these people, why give with one hand and take with the other?

Hmmm . . . have we drifted a bit from that “postcard”?

Let’s continue with the article:

“The most serious problem facing U.S. taxpayers is the declining quality of service provided to them by the IRS when they seek to comply with their federal tax filing and payment obligations,” says the Taxpayer Advocate Service

Well, not really. The biggest problem facing U.S. taxpayers is paying taxestaxes a Monetarily Sovereign government neither needs nor uses.

Cruz’s solution—a single income tax rate with deductions limited to charitable donations and home mortgage interest—would be a step in the right direction.

ut retaining any deductions at all is an invitation to escalating exceptions, and keeping the income tax would mean keeping the IRS or something like it, contrary to what Cruz implies.

A flat tax with no deductions except for charitable donations and mortgage interest. Sounds simple enough.

Uh, well . . . exactly what is a charitable deduction? If you give clothing to your church, don’t you have to list what you gave and the value of each item? On a postcard??

And are we talking about eliminating all charitable trusts? Or will we keep charitable trusts — on a postcard?

And then there is mortgage interest, but not other interest. Why? No deduction for school loans? If corporations can deduct every expense, why can’t individuals deduct every expense?

Why can’t you deduct the cost of food, clothing and housing, the way corporations do? Why can’t you deduct the cost of raising and educating children? Isn’t that important to America?

Do Cruz and Sullum visualize no deductions for corporations? Not a chance. Rich people own corporations.

Anyway, in all fairness, Cruz wants to eliminate the Internal Revenue Service altogether. No more income tax on anything. And that’s not a bad idea (since the federal government neither uses nor needs tax dollars), except for another one of those small details:

A national sales tax, an approach Cruz also has endorsed, would make “abolishing the IRS” feasible and a return to something resembling the current tax code less likely, with the additional economic advantage of taxing consumption rather than savings and investment.

In 2013 Cruz cosponsored the Fair Tax Act, which would have replaced the federal income and payroll taxes with a 23 percent sales tax, collected by a new Treasury Department agency with help from state revenue departments.

And here is where we drift from loopy and ill-considered to downright evil.

As anyone who has given more than two seconds worth of thought to the problem knows, sales taxes are highly regressive. They punish the poor- and the middle-classes far more than the rich.

Sales taxes are the perfect vehicle for widening the Gap between the rich and the rest.

While the “99%” tend to spend a high percentage of their income on things, the rich invest most of their income. For a poor person, a 23% sales tax effectively would be a 23% income tax. For a rich person, a 23% sales tax might not even amount to a 1% tax on income.

And of course, that is exactly what Republican Cruz wants. It’s what all right-wingers want. Punish the 99%, reward the 1% and sell the whole package to the gullible as a way to “make things easier.”

Yes, Cruz’s “Submit your taxes to the IRS, on a postcard” should be changed to “Submit your entire income to the IRS, on a postcard, unless you’re rich.”

Hey, in the next election, that could happen. The Republican Supreme Court can be depended upon to support income and vote confiscation of the non-rich.

By contrast, I suggest Items #6, #7 and #8 of the Ten Steps to Prosperity, a program to grow the economy and narrow the Gap between the rich and the rest.

Rodger Malcolm Mitchell
Monetary Sovereignty

===================================================================================
The Ten Steps to Prosperity:

1. Eliminate FICA (Click here)
2. Federally funded Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Provide an Economic Bonus to every man, woman and child in America, and/or every state a per capita Economic Bonus. (Click here) Or institute a reverse income tax.
4. Federally funded, free education (including post-grad) for everyone. Click here
5. Salary for attending school (Click here)
6. Eliminate corporate taxes (Click here)
7. Increase the standard income tax deduction annually. (Refer to this.)
8. Tax the very rich (.1%) more, with higher, progressive tax rates on all forms of income. (Click here)
9. Federal ownership of all banks (Click here and here)
10. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)

Initiating The Ten Steps sequentially will add dollars to the economy, stimulate the economy, and narrow the income/wealth/power Gap between the rich and the rest.
——————————————————————————————————————————————

10 Steps to Economic Misery: (Click here:)
1. Maintain or increase the FICA tax..
2. Spread the myth Social Security, Medicare and the U.S. government are insolvent.
3. Cut federal employment in the military, post office, other federal agencies.
4. Broaden the income tax base so more lower income people will pay.
5. Cut financial assistance to the states.
6. Spread the myth federal taxes pay for federal spending.
7. Allow banks to trade for their own accounts; save them when their investments go sour.
8. Never prosecute any banker for criminal activity.
9. Nominate arch conservatives to the Supreme Court.
10. Reduce the federal deficit and debt

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.
1. A growing economy requires a growing supply of dollars (GDP=Federal Spending + Non-federal Spending + Net Exports)
2. All deficit spending grows the supply of dollars
3. The limit to federal deficit spending is an inflation that cannot be cured with interest rate control.
4. The limit to non-federal deficit spending is the ability to borrow.

THE RECESSION CLOCK
Monetary Sovereignty

Monetary Sovereignty

Vertical gray bars mark recessions.

As the federal deficit growth lines drop, we approach recession, which will be cured only when the growth lines rise. Increasing federal deficit growth (aka “stimulus”) is necessary for long-term economic growth.

#MONETARYSOVEREIGNTY

–What could be worse than this Congressional bitter disagreement ? Wednesday, Mar 25 2015 

Twitter: @rodgermitchell; Search #monetarysovereignty
Facebook: Rodger Malcolm Mitchell

Mitchell’s laws:
●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.
●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.
==================================================================================================================================================================

Answer: This Congressional joyful, bipartisan smooching.

When the crocodiles smile, you, the public, are being eaten.

House Expected To Pass Major Boehner-Pelosi Deal To Reshape Medicare

An ambitious agreement by Speaker John Boehner and Minority Leader Nancy Pelosi to fix a major funding gap in Medicare and make some separate long-term cuts appears in good shape to pass the House.

monetary sovereignty

REDUCING COVERAGE FOR NO REASON. SEE HOW HAPPY THEY ARE.

“It is all shaping up very well on both sides,” said Kevin Smith, a spokesman for Boehner.

At a cost of roughly $210 billion, the bill replaces the “sustainable growth rate” formula to instead give doctors gradual raises while extending the Children’s Health Insurance Program for two years starting in October.

It includes $70 billion in offsets by making two structural changes to cut Medicare spending: force high-income seniors to kick in more for their care and reduce spending on supplemental Medigap plans, specifically “first dollar” coverage.

These “offsets” are based on three lies:

1. FICA funds Medicare benefits (It doesn’t.)
2. The federal government is too broke to pay for Medicare. (It isn’t.)
3. By contrast, you have too much money so you can afford to pay more. (You don’t.)

Our readers, who understand Monetary Sovereignty, know that FICA does not fund Medicare.

Just to be clear: FEDERAL TAXES DO NOT FUND FEDERAL SPENDING. Period.

Even if all federal taxes fell to $0, the government could continue to pay all its bills — including Medicare for every man, woman and child in America — forever.

So why does the government charge you FICA, and why will the government cut Medicare benefits further? Because FICA is the most regressive tax in America, punishing the middle- and lower-income groups far more than the rich. This helps widen the Gap between the rich and the rest, the single most important goal of the rich.

Why do both parties wish to help the rich increase the Gap? Because both parties are bribed via campaign contributions, plus promises of lucrative employment, later. (Thank you, right-wing Supreme Court.)

The rest of the legislation is not paid for, which could be a deal-breaker for hardline conservatives in the House and Senate.

Translation: Hard line conservatives are not satisfied with just draining your blood. They want to cut out your flesh and bones, too.

Progressives don’t love the Medicare cuts but many Democrats are willing to accept them because they don’t touch core benefits for middle-class Americans.

Translation: We Democrats pretend to be your friends, but all we want is your vote. We plan to go along with the Republicans every year, to slice bits off Medicare, because as they told you, “Medicare is broke.” The Republicans give us cover. Aren’t we clever?

So long as you’re stupid enough to vote for us, we’ll just keep slicing those benefits — increase the age, reduce the payments — soon we’ll tax benefits, like we do with Social Security.

The rich won’t care. Medical costs are a minuscule part of their income, but a big part of yours.

Senate Republicans are eager to get rid of the “doc fix” problem, and the long-term Medicare cuts in the House package are an enticement for them.

Translation: The doctors have a powerful lobby, and they contribute lots of money to us. What’s your lobby? How much do you contribute?

Republicans have been aching to cut your Medicare benefits, so this gives us Democrats an excuse to give them what the rich want.

Sen. Richard Burr (R-NC) said, “I’ve been working on entitlement reform since I got here 21 years ago. This is the first real hope at getting entitlement reform and in the process taking care of the SGR which we’ve always known was a mythical cut.”

Translation: In conservative-speak, the word “reform” always means: “Screw the poor and the middle class.”

Thus entitlement “reform” means cut Social Security benefits, cut Medicare benefits, cut Medicaid benefits, cut unemployment compensation, cut food stamps, and cut all other poverty aids.

Similarly, tax “reform” means charging the poor and the middle more, via regressive programs like a flat tax, increases in FICA and sales taxes, and the sneakiest one of all: Making the monetarily non-sovereign states and cities pay for things the federal government should fund (Example: Education.)

Any time you hear a politician use the word “reform,” grab your wallet and scream, “Liar, liar, pants on fire.”

Predition: Shortly after (like, the next day after) 2016 elections, the politicians will, at the urging of their rich benefactors, “discover” that once again, Social Security, Medicare, Medicaid, all poverty aids and taxes need to be “reformed.”

Once again you will be treated to the Big Lie that the federal government is “broke,” while you are rich, and that federal spending is limited by federal tax collections.

And because you will believe it (and probably become angry at anyone who disagrees), your taxes will rise, your benefits will fall, and the income/wealth/power Gap between you and the rich will grow.

You’re being raped. I hope you enjoy it.

Rodger Malcolm Mitchell
Monetary Sovereignty

===================================================================================
The Ten Steps to Prosperity:

1. Eliminate FICA (Click here)
2. Federally funded Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Provide an Economic Bonus to every man, woman and child in America, and/or every state a per capita Economic Bonus. (Click here) Or institute a reverse income tax.
4. Federally funded, free education (including post-grad) for everyone. Click here
5. Salary for attending school (Click here)
6. Eliminate corporate taxes (Click here)
7. Increase the standard income tax deduction annually. (Refer to this.)
8. Tax the very rich (.1%) more, with higher, progressive tax rates on all forms of income. (Click here)
9. Federal ownership of all banks (Click here and here)
10. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)

Initiating The Ten Steps sequentially will add dollars to the economy, stimulate the economy, and narrow the income/wealth/power Gap between the rich and the rest.
——————————————————————————————————————————————

10 Steps to Economic Misery: (Click here:)
1. Maintain or increase the FICA tax..
2. Spread the myth Social Security, Medicare and the U.S. government are insolvent.
3. Cut federal employment in the military, post office, other federal agencies.
4. Broaden the income tax base so more lower income people will pay.
5. Cut financial assistance to the states.
6. Spread the myth federal taxes pay for federal spending.
7. Allow banks to trade for their own accounts; save them when their investments go sour.
8. Never prosecute any banker for criminal activity.
9. Nominate arch conservatives to the Supreme Court.
10. Reduce the federal deficit and debt

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.
1. A growing economy requires a growing supply of dollars (GDP=Federal Spending + Non-federal Spending + Net Exports)
2. All deficit spending grows the supply of dollars
3. The limit to federal deficit spending is an inflation that cannot be cured with interest rate control.
4. The limit to non-federal deficit spending is the ability to borrow.

THE RECESSION CLOCK
Monetary Sovereignty

Monetary Sovereignty

Vertical gray bars mark recessions.

As the federal deficit growth lines drop, we approach recession, which will be cured only when the growth lines rise. Increasing federal deficit growth (aka “stimulus”) is necessary for long-term economic growth.

#MONETARYSOVEREIGNTY

–Liberty U. students support Republican Ted Cruz — maybe. Monday, Mar 23 2015 

Twitter: @rodgermitchell; Search #monetarysovereignty
Facebook: Rodger Malcolm Mitchell

Mitchell’s laws:
●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.
●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.
==================================================================================================================================================================
Here is a perfect Fox “News” moment:

Liberty U. Students Forced to Attend Ted Cruz Speech

All Liberty students are obligated to show up for convocations on Mondays, Wednesdays, and Fridays. Absenteeism results in “four reprimands and a $10 fine,” according to student Daniel Joseph Hayes.

Hayes complained that Cruz’s decision to make his announcement at a Liberty U. convocation was “starkly deceptive,” since it might appear to outside observers that throngs of students had decided to support Cruz of their own volition. He wrote, according to Bloomberg:

I strongly object to Senator Cruz’s choice of venue for the announcement of his 2016 presidential bid: as is well-known by Liberty University students but considerably less well-known by the general public, all students are required to attend convocation every Monday, Wednesday, and Friday.

Sen. Cruz is a friend of the Liberty University administration and has spoken at convocation in the past. As such, he knows that all students are required to be in attendance.

I bear no ill will toward Sen. Cruz, but his choice to announce his 2016 presidential bid at convocation at Liberty University is a starkly deceptive one.

Should the general public be unaware that all students are required to attend convocation, it would seem to the average viewer (as this will be televised and is already being widely publicized) that 10,000 supporters came to Liberty University to hear Sen. Cruz’s announcement. However, every student in attendance has no say in the matter.

Students will either attend convocation and lend to the illusion of widespread support for Sen. Cruz, or they will be subject to administrative punishment–specifically, four reprimands and a $10 fine–if they are absent.

While Sen. Cruz has every right to run for president and to announce his candidacy, it is a highly deceptive, albeit politically savvy, move on Sen. Cruz’s part to make his big announcement here.

I do not support this action, and I am not alone in my belief that such deception is wrong.

There’s something vexing about an institution with “liberty” in its name requiring attendance at a political event.

Ah, clever Ted, on “Cruz control.” The campaign begins.

Bet you won’t hear about this from Sean Hannity.

Rodger Malcolm Mitchell
Monetary Sovereignty

===================================================================================
The Ten Steps to Prosperity:

1. Eliminate FICA (Click here)
2. Federally funded Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Provide an Economic Bonus to every man, woman and child in America, and/or every state a per capita Economic Bonus. (Click here) Or institute a reverse income tax.
4. Federally funded, free education (including post-grad) for everyone. Click here
5. Salary for attending school (Click here)
6. Eliminate corporate taxes (Click here)
7. Increase the standard income tax deduction annually. (Refer to this.)
8. Tax the very rich (.1%) more, with higher, progressive tax rates on all forms of income. (Click here)
9. Federal ownership of all banks (Click here and here)
10. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)

Initiating The Ten Steps sequentially will add dollars to the economy, stimulate the economy, and narrow the income/wealth/power Gap between the rich and the rest.
——————————————————————————————————————————————

10 Steps to Economic Misery: (Click here:)
1. Maintain or increase the FICA tax..
2. Spread the myth Social Security, Medicare and the U.S. government are insolvent.
3. Cut federal employment in the military, post office, other federal agencies.
4. Broaden the income tax base so more lower income people will pay.
5. Cut financial assistance to the states.
6. Spread the myth federal taxes pay for federal spending.
7. Allow banks to trade for their own accounts; save them when their investments go sour.
8. Never prosecute any banker for criminal activity.
9. Nominate arch conservatives to the Supreme Court.
10. Reduce the federal deficit and debt

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.
1. A growing economy requires a growing supply of dollars (GDP=Federal Spending + Non-federal Spending + Net Exports)
2. All deficit spending grows the supply of dollars
3. The limit to federal deficit spending is an inflation that cannot be cured with interest rate control.
4. The limit to non-federal deficit spending is the ability to borrow.

THE RECESSION CLOCK
Monetary Sovereignty

Monetary Sovereignty

Vertical gray bars mark recessions.

As the federal deficit growth lines drop, we approach recession, which will be cured only when the growth lines rise. Increasing federal deficit growth (aka “stimulus”) is necessary for long-term economic growth.

#MONETARYSOVEREIGNTY

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