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•Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
•Any monetarily NON-sovereign government — be it city, county, state or nation — that runs an ongoing trade deficit, eventually will run out of money.
•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.
•Everything in economics devolves to motive, and the motive is the Gap between the rich and the rest..
I don’t blame Trump.
He is what he is: A bigot, a megalomaniac, a tyrant and the would-be fuehrer of the United States of America. (“Fuehrer” means “leader,” but in Trump’s case “fuehrer” is more appropriate.)
All Hail Der Donald!
By Roger Simon
Do not say you were not warned. Der Donald has warned you.
Security is going to rule in America. And unthinkable things will be done. Don’t believe me? Ask him.
“We’re going to have to do things that we never did before. And some people are going to be upset about it, but I think that now everybody is feeling that security is going to rule. … So we’re going to have to do certain things that were frankly unthinkable a year ago.”
On Saturday, a black man began shouting at a Trump speech in Birmingham, Alabama. People shout at Trump speeches all the time. But there are things you are allowed to shout, such as “We love you, Donald!”
And there are certain things you are not allowed to shout, such as “Trump is a racist!”
The black man was kicked and punched. Trump looked down upon him with lofty disdain. “Get him the hell out of here!” Trump said. “Throw him out.” The man was led away.
Trump would protect us from such people as president.
But I don’t blame Trump. He is what he is: A bigot, a megalomaniac, a tyrant and the would-be fuehrer of the United States of America.
I blame the people who support him. I blame the good Republicans who are too cowardly to call him out. I blame the “religious” (irony) right wing.
The price we would pay would be tiny. We would give up a civil liberty here, a freedom there.
Certain people would be registered. Their houses of worship would be spied upon. Names would be taken down.
But as long as these people are not Christians, do you really care? Trump is betting you do not.
We didn’t care when blacks were turned into slaves then hung from trees. We didn’t care when Jews were thrown into ovens and mass graves. We didn’t care when native-born Americans lost their homes, because their grandparents came from Japan or when native Americans were sent to reservations.
We don’t care when unarmed black men are murdered by police.
And now we don’t care again.
“I want surveillance of these people,” Trump has said. “I want surveillance if we have to, and I don’t care. … I want surveillance of certain mosques, OK?”
Martin Niemoller, a Lutheran pastor who first supported and then opposed Adolf Hitler, was imprisoned in concentration camps, but felt he never did enough to speak out against fascism, especially when Hitler still could have been stopped.
Today he might have written:
“First they came for the black people, and I did not speak out — because I was not black.
“Then they came for the Muslims, and I did not speak out — because I was not a Muslim.
“When they come for you and me, who will be left to speak out?”
“Too many people have suffered and too many people have died for us to continue to hear racist words coming from major political leaders,” Bernie Sanders says.
“Turning away orphans, applying a religious test, discriminating against Muslims, slamming the door on every Syrian refugee — that is just not who we are. We are better than that,” Hillary Clinton says.
And what of Trump’s opponents for the Republican nomination? Most grovel and fawn.
They really don’t care that Trump wants to register Muslims, just as long as he doesn’t want to register guns.
I don’t blame Trump. He is what he is: A bigot, a megalomaniac, a tyrant and the would-be fuehrer of the United States of America.
I blame the good people who are only too glad to see other people’s lives destroyed, so long as their own lives are safe — safe temporarily, until he comes for them.
All that is necessary for the triumph of evil is for good men to do nothing.
Rodger Malcolm Mitchell
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. 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 Click here
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)
The Ten Steps 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
Vertical gray bars mark recessions. Recessions come after the blue line drops below zero and when deficit growth declines.
As the federal deficit growth lines drop, we approach recessions, each of which has been cured only when the growth lines rose.
Increasing federal deficit growth (aka “stimulus”) is necessary for long-term economic growth.