The Trump/Clinton debate results. Here is what will happen: Friday, Sep 23 2016 

What people have done in the past is the best predictor of what they will do in the future.

So, here is what will happen at the Clinton/Trump debate:

  1. The debate will open with the biggest debate audience in history, but it will dissipate.
  2. You will shout “Liar! Liar!” at your TV following each candidate’s statement.
  3. Clinton will lie twice, exaggerate seven times  and will dodge two questions.
  4. Trump will lie 57 times, will exaggerate every answer, claim everything he ever has done is “fantastic,” and will deny saying things he previously has said.
  5. Clinton will list the specific instances of Trump lying in the past and during the debate.
  6. Trump will claim that his lies actually are Clinton’s fault, and use the “She started it” excuse.
  7. Trump repeatedly will dodge questions by using the digression that “Clinton is a liar, Obama is weak, America is powerless, and he (Trump) is incredible.”
  8. Breitbart and Fox will ignore Trump’s lies or deny they were lies, or claim the lies were examples of his strength.
  9. CNBC will mention Clinton’s lies, but will focus on Trump’s, and express amazement that anyone believes him.
  10. Trump will demonstrate ignorance about foreign matters, and offer no rational solutions for domestic problems, but instead will blame Clinton for Obama, and blame Obama for everything — and vice-versa.
  11. Clinton will give wonky, boring, forgettable answers to most questions, demonstrate deep knowledge of foreign matters, deny blame for things that went wrong, and claim credit for what went right, even the things in which she was not involved.
  12. Clinton supporters will claim Trump’s lies “prove” he is unfit for office.
  13. Trump supporters will claim Clinton’s lies “prove” she is unfit for office.
  14. Trump will sneer at the Clinton Foundation, Benghazi, Emails, her health, Mexicans, “thugs,” Muslims, gays, and Bill Clinton, but offer no specific data to back any of his claims.
  15. Trump’s generalized “solutions” will involve cracking down on the poor and the powerless, while rewarding the rich.
  16. Clinton will decry the Trump Foundation self-dealing, lack of his tax releases, Trump University, bankruptcies, lawsuits, failure to pay his debts, Putin, the wall, bigotry, Trump’s doctor, and the lack of a plan.
  17. Her detailed solutions will benefit the poor, but no one will believe her.
  18. Neither candidate will promise to put crooked bankers in jail.
  19. Neither candidate will mention cheating on spouses.
  20. Trump is expected to be overbearing, unprepared, lying, braggadocio, and bigoted, so if he is slightly less overbearing, unprepared, lying, braggadocio, or bigoted, he will be considered “Presidential.”
  21. Clinton will try to appear factual and logical, but will be accused of being “Nixonesque” deceptive, no matter what she says. She suffers from the “Dr. Fell” syndrome.
  22. Trump will claim the debate was rigged and that he was treated unfairly. He will refuse to participate in future debates.
  23. The followers of both candidates will criticize the moderator for asking “gotcha” questions of their candidate, for asking “softball” questions of the other candidate, and for not challenging the lies of the other candidate.
  24. Clinton supporters will say she “won” and will say they plan to vote for her, but many will not actually vote.
  25. Trump supporters will say he “won,” but not wanting to look stupid, they will claim they don’t support either candidate. Secretly, they intend to vote for Trump, because they hate the same people he hates.
  26. The twenty-five people in America, who really had not made up their minds before the debate, will not make up their minds after the debate.

There it is. Now, you don’t even need to watch. You know exactly what will happen, the most important question being the winner — i.e. the winner of the Falcons / Saints game.

Long term prediction: If Trump wins the Presidency, within three months, no one will admit to having voted for him.  If Clinton wins, within three years, no one will admit to having voted for her or him.

Rodger Malcolm Mitchell
Monetary Sovereignty

===================================================================================
Ten Steps to Prosperity:
1. ELIMINATE FICA (Ten Reasons to Eliminate FICA )
Although the article lists 10 reasons to eliminate FICA, there are two fundamental reasons:
*FICA is the most regressive tax in American history, widening the Gap by punishing the low and middle-income groups, while leaving the rich untouched, and
*The federal government, being Monetarily Sovereign, neither needs nor uses FICA to support Social Security and Medicare.
2. FEDERALLY FUNDED MEDICARE — PARTS A, B & D, PLUS LONG TERM CARE — FOR EVERYONE (H.R. 676, Medicare for All )
This article addresses the questions:
*Does the economy benefit when the rich afford better health care than the rest of Americans?
*Aside from improved health care, what are the other economic effects of “Medicare for everyone?”
*How much would it cost taxpayers?
*Who opposes it?”
3. PROVIDE AN ANNUAL ECONOMIC BONUS TO EVERY MAN, WOMAN AND CHILD IN AMERICA, AND/OR EVERY STATE, A PER CAPITA ECONOMIC BONUS (The JG (Jobs Guarantee) vs the GI (Guaranteed Income) vs the EB) Or institute a reverse income tax.
This article is the fifth in a series about direct financial assistance to Americans:

Why Modern Monetary Theory’s Employer of Last Resort is a bad idea. Sunday, Jan 1 2012
MMT’s Job Guarantee (JG) — “Another crazy, rightwing, Austrian nutjob?” Thursday, Jan 12 2012
Why Modern Monetary Theory’s Jobs Guarantee is like the EU’s euro: A beloved solution to the wrong problem. Tuesday, May 29 2012
“You can’t fire me. I’m on JG” Saturday, Jun 2 2012

Economic growth should include the “bottom” 99.9%, not just the .1%, the only question being, how best to accomplish that. Modern Monetary Theory (MMT) favors giving everyone a job. Monetary Sovereignty (MS) favors giving everyone money. The five articles describe the pros and cons of each approach.
4. FREE EDUCATION (INCLUDING POST-GRAD) FOR EVERYONEFive reasons why we should eliminate school loans
Monetarily non-sovereign State and local governments, despite their limited finances, support grades K-12. That level of education may have been sufficient for a largely agrarian economy, but not for our currently more technical economy that demands greater numbers of highly educated workers.
Because state and local funding is so limited, grades K-12 receive short shrift, especially those schools whose populations come from the lowest economic groups. And college is too costly for most families.
An educated populace benefits a nation, and benefiting the nation is the purpose of the federal government, which has the unlimited ability to pay for K-16 and beyond.
5. SALARY FOR ATTENDING SCHOOL
Even were schooling to be completely free, many young people cannot attend, because they and their families cannot afford to support non-workers. In a foundering boat, everyone needs to bail, and no one can take time off for study.
If a young person’s “job” is to learn and be productive, he/she should be paid to do that job, especially since that job is one of America’s most important.
6. ELIMINATE CORPORATE TAXES
Corporations themselves exist only as legalities. They don’t pay taxes or pay for anything else. They are dollar-transferring machines. They transfer dollars from customers to employees, suppliers, shareholders and the government (the later having no use for those dollars).
Any tax on corporations reduces the amount going to employees, suppliers and shareholders, which diminishes the economy. Ultimately, all corporate taxes come around and reappear as deductions from your personal income.
7. INCREASE THE STANDARD INCOME TAX DEDUCTION, ANNUALLY. (Refer to this.) Federal taxes punish taxpayers and harm the economy. The federal government has no need for those punishing and harmful tax dollars. There are several ways to reduce taxes, and we should evaluate and choose the most progressive approaches.
Cutting FICA and corporate taxes would be a good early step, as both dramatically affect the 99%. Annual increases in the standard income tax deduction, and a reverse income tax also would provide benefits from the bottom up. Both would narrow the Gap.
8. TAX THE VERY RICH (THE “.1%) MORE, WITH HIGHER PROGRESSIVE TAX RATES ON ALL FORMS OF INCOME. (TROPHIC CASCADE)
There was a time when I argued against increasing anyone’s federal taxes. After all, the federal government has no need for tax dollars, and all taxes reduce Gross Domestic Product, thereby negatively affecting the entire economy, including the 99.9%.
But I have come to realize that narrowing the Gap requires trimming the top. It simply would not be possible to provide the 99.9% with enough benefits to narrow the Gap in any meaningful way. Bill Gates reportedly owns $70 billion. To get to that level, he must have been earning $10 billion a year. Pick any acceptable Gap (1000 to 1?), and the lowest paid American would have to receive $10 million a year. Unreasonable.
9. FEDERAL OWNERSHIP OF ALL BANKS (Click The end of private banking and How should America decide “who-gets-money”?)
Banks have created all the dollars that exist. Even dollars created at the direction of the federal government, actually come into being when banks increase the numbers in checking accounts. This gives the banks enormous financial power, and as we all know, power corrupts — especially when multiplied by a profit motive.
Although the federal government also is powerful and corrupted, it does not suffer from a profit motive, the world’s most corrupting influence.
10. INCREASE FEDERAL SPENDING ON THE MYRIAD INITIATIVES THAT BENEFIT AMERICA’S 99.9% (Federal agencies)Browse the agencies. See how many agencies benefit the lower- and middle-income/wealth/ power groups, by adding dollars to the economy and/or by actions more beneficial to the 99.9% than to the .1%.
Save this reference as your primer to current economics. Sadly, much of the material is not being taught in American schools, which is all the more reason for you to use it.

The Ten Steps will grow the economy, and narrow the income/wealth/power Gap between the rich and you.

MONETARY SOVEREIGNTY

How the rich justify stealing our Social Security Wednesday, Sep 21 2016 

Here is an Email I received just today, telling me how the rich justify stealing our Social Security:

Friends,

The House Ways and Means Subcommittee on Social Security will hold a hearing tomorrow on the solvency of the Social Security program where Stephen Goss, Chief Actuary of the Social Security Administration and Keith Hall, Director of the Congressional Budget Office, will testify.

In light of this hearing, I wanted to share a new paper from the Committee for a Responsible Federal Budget, Sizing Up Social Security’s Solvency Challenge, which explains the significant differences between CBO and the Social Security Trustees.

While both estimators warn that Social Security faces serious financial challenges and is on the fast track to insolvency, CBO has concluded that the problem is much worse and the date of trust fund depletion much sooner than the Trustees believe.

The full paper is available on our website, and for your convenience I’ve also pasted it below.

Feel free to reach out if you have any questions.
Thanks,
Marc Goldwein
Senior Vice President, Committee for a Responsible Federal Budget

We’ve written about the Committee for a Responsible Federal Budget before.  They are the folks who want you to believe that the federal government can run out of its own sovereign currency and so can become insolvent.

The fact that for almost two and a half centuries of existence, through wars, recessions, depressions, inflations, and stagflations, the U.S. government never has run out of dollars, and indeed cannot run out of dollars — that fact never is revealed by the CRFB

To the CRFB, any federal deficit is a looming disaster and any federal debt is a ticking time bomb. They are prime disseminators of The Big Lie.

Here are excerpts from their paper:

Social Security faces a large shortfall between scheduled benefits and dedicated revenue, and the program is currently on a path toward insolvency. However, official estimators disagree on the extent of the program’s financial woes.

The Social Security Trustees project the program’s trust funds face a 75-year gap equal to 2.7 percent of payroll (1.0 percent of GDP) and will be depleted by 2034, on a (theoretical) combined basis. Meanwhile, the Congressional Budget Office (CBO) projects a trust fund gap equal to 4.7 percent of payroll (1.6 percent of GDP) and a depletion date of 2029.

The path to insolvency is a gigantic con job, based on deceiving math and factual error.

But fear not. The CRFB offers us a solution:

To avoid these cuts, policymakers should enact a thoughtful mix of revenue and benefit changes that begin soon, phase in slowly, strengthen retirement security for those who rely on benefits, promote economic growth, and secure Social Security’s long-term finances.

This “thoughtful mix of revenue and benefit changes” is the CRFB’s sneaky way of telling us our taxes will be increased and our benefits will be decreased.

But of course, they don’t want to come right out and say it, because we might object to being screwed.  The CRFB hopes we’ll be too stupid to realize what is being done to us, so long as we’re told it’s “thoughtful,” and these are just “changes,” not cuts.

“Why?” you may ask, “does the CRFB publish such tripe, and why does Congress go along with it?”

Follow the link below to see the CRFB Board Members. Notice anything special about them?

Committee for a Responsible Federal Budget Board Members

They all are highly paid and they all are white.  These are people of privilege, white society people who enjoy the lush benefits of a wide and ever-widening Gap between the rich and the rest.

No middle- or lower-class people allowed, no minorities need attend.

To bolster their phony argument, the CRFB must, of course, supply statistics.

The above chart supposedly shows you the onrushing insolvency of Social Security. After all, projected Revenue is less than projected Spending, so that means disaster, doesn’t it?

But wait. Couldn’t that graph also refer to the White House?  No FICA, or any other taxes, support the White House, so clearly, projected Revenue is far less than projected Spending.

With zero dedicated revenue, the minute Mrs. Obama throws a party for an ambassador, won’t the White House be insolvent?

And couldn’t the graph also refer to Congress?  No FICA taxes, no dedicated revenue, support Congress, so the instant a Senator goes on an investigative winter tour of the Virgin Islands, Congress will be insolvent. Right?

And what about the Supreme Court? No FICA there either. Have just one of those black robes cleaned, and already Spending exceeds Revenue. Hello, insolvency.

The same is true for the FBI, CIA, FAA, the Army, the Navy, and all the other 1000 agencies of the federal government. No dedicated revenue.

But yet, here we are, running along without insolvency. Why? How?

The federal government, absolutely, positively cannot run short of U.S. dollars. It created the original laws that created the original dollars — as many laws and as many dollars as they wished.

So why do we hear repeated cries of “Insolvency! Insolvency! when discussing the Social Security and Medicare federal agencies?

Because those are the two agencies most responsible for closing the Gap between the rich and the rest.

The rich run America and they love the Gap.  

Without the Gap, no one would be rich. (We all would be the same.) And the wider the Gap, the richer they are.

So the rich fund organizations like CRFB to sell us The Big Lie. That way, when Congress decides to take dollars from our pockets by raising our taxes and cutting our benefits, we’ll agree without making a fuss.

And the rich fund Congress, now in unlimited amounts thanks to a right-wing Supreme Court.  So Congress is only too happy to go along.

And us, like docile little puppies, we’ll eat the crap they feed us, and even wag our tails in appreciation.

Now repeat after me: “Bow wow, thank you, master. Please cut my Social Security, again.”

Rodger Malcolm Mitchell
Monetary Sovereignty

===================================================================================
Ten Steps to Prosperity:
1. ELIMINATE FICA (Ten Reasons to Eliminate FICA )
Although the article lists 10 reasons to eliminate FICA, there are two fundamental reasons:
*FICA is the most regressive tax in American history, widening the Gap by punishing the low and middle-income groups, while leaving the rich untouched, and
*The federal government, being Monetarily Sovereign, neither needs nor uses FICA to support Social Security and Medicare.
2. FEDERALLY FUNDED MEDICARE — PARTS A, B & D, PLUS LONG TERM CARE — FOR EVERYONE (H.R. 676, Medicare for All )
This article addresses the questions:
*Does the economy benefit when the rich afford better health care than the rest of Americans?
*Aside from improved health care, what are the other economic effects of “Medicare for everyone?”
*How much would it cost taxpayers?
*Who opposes it?”
3. PROVIDE AN ANNUAL ECONOMIC BONUS TO EVERY MAN, WOMAN AND CHILD IN AMERICA, AND/OR EVERY STATE, A PER CAPITA ECONOMIC BONUS (The JG (Jobs Guarantee) vs the GI (Guaranteed Income) vs the EB) Or institute a reverse income tax.
This article is the fifth in a series about direct financial assistance to Americans:

Why Modern Monetary Theory’s Employer of Last Resort is a bad idea. Sunday, Jan 1 2012
MMT’s Job Guarantee (JG) — “Another crazy, rightwing, Austrian nutjob?” Thursday, Jan 12 2012
Why Modern Monetary Theory’s Jobs Guarantee is like the EU’s euro: A beloved solution to the wrong problem. Tuesday, May 29 2012
“You can’t fire me. I’m on JG” Saturday, Jun 2 2012

Economic growth should include the “bottom” 99.9%, not just the .1%, the only question being, how best to accomplish that. Modern Monetary Theory (MMT) favors giving everyone a job. Monetary Sovereignty (MS) favors giving everyone money. The five articles describe the pros and cons of each approach.
4. FREE EDUCATION (INCLUDING POST-GRAD) FOR EVERYONEFive reasons why we should eliminate school loans
Monetarily non-sovereign State and local governments, despite their limited finances, support grades K-12. That level of education may have been sufficient for a largely agrarian economy, but not for our currently more technical economy that demands greater numbers of highly educated workers.
Because state and local funding is so limited, grades K-12 receive short shrift, especially those schools whose populations come from the lowest economic groups. And college is too costly for most families.
An educated populace benefits a nation, and benefiting the nation is the purpose of the federal government, which has the unlimited ability to pay for K-16 and beyond.
5. SALARY FOR ATTENDING SCHOOL
Even were schooling to be completely free, many young people cannot attend, because they and their families cannot afford to support non-workers. In a foundering boat, everyone needs to bail, and no one can take time off for study.
If a young person’s “job” is to learn and be productive, he/she should be paid to do that job, especially since that job is one of America’s most important.
6. ELIMINATE CORPORATE TAXES
Corporations themselves exist only as legalities. They don’t pay taxes or pay for anything else. They are dollar-tranferring machines. They transfer dollars from customers to employees, suppliers, shareholders and the government (the later having no use for those dollars).
Any tax on corporations reduces the amount going to employees, suppliers and shareholders, which diminishes the economy. Ultimately, all corporate taxes come around and reappear as deductions from your personal income.
7. INCREASE THE STANDARD INCOME TAX DEDUCTION, ANNUALLY. (Refer to this.) Federal taxes punish taxpayers and harm the economy. The federal government has no need for those punishing and harmful tax dollars. There are several ways to reduce taxes, and we should evaluate and choose the most progressive approaches.
Cutting FICA and corporate taxes would be an good early step, as both dramatically affect the 99%. Annual increases in the standard income tax deduction, and a reverse income tax also would provide benefits from the bottom up. Both would narrow the Gap.
8. TAX THE VERY RICH (THE “.1%) MORE, WITH HIGHER PROGRESSIVE TAX RATES ON ALL FORMS OF INCOME. (TROPHIC CASCADE)
There was a time when I argued against increasing anyone’s federal taxes. After all, the federal government has no need for tax dollars, and all taxes reduce Gross Domestic Product, thereby negatively affecting the entire economy, including the 99.9%.
But I have come to realize that narrowing the Gap requires trimming the top. It simply would not be possible to provide the 99.9% with enough benefits to narrow the Gap in any meaningful way. Bill Gates reportedly owns $70 billion. To get to that level, he must have been earning $10 billion a year. Pick any acceptable Gap (1000 to 1?), and the lowest paid American would have to receive $10 million a year. Unreasonable.
9. FEDERAL OWNERSHIP OF ALL BANKS (Click The end of private banking and How should America decide “who-gets-money”?)
Banks have created all the dollars that exist. Even dollars created at the direction of the federal government, actually come into being when banks increase the numbers in checking accounts. This gives the banks enormous financial power, and as we all know, power corrupts — especially when multiplied by a profit motive.
Although the federal government also is powerful and corrupted, it does not suffer from a profit motive, the world’s most corrupting influence.
10. INCREASE FEDERAL SPENDING ON THE MYRIAD INITIATIVES THAT BENEFIT AMERICA’S 99.9% (Federal agencies)Browse the agencies. See how many agencies benefit the lower- and middle-income/wealth/ power groups, by adding dollars to the economy and/or by actions more beneficial to the 99.9% than to the .1%.
Save this reference as your primer to current economics. Sadly, much of the material is not being taught in American schools, which is all the more reason for you to use it.

The Ten Steps will grow the economy, and narrow the income/wealth/power Gap between the rich and you.

MONETARY SOVEREIGNTY

The economics you don’t know and never think about, but “this shit is for real.” Wednesday, Sep 21 2016 

Economics: There are many forms, but few are studied. Most economists think primarily of national economics — the economics of nations.

It is as though all economics is derivative, and whether you’re talking about Monetarily Sovereign governments like the U.S. or Canada, or monetarily non-sovereign governments like Germany or Illinois or Chicago, the same fundamentals apply.

Supply and Demand, Risk and Reward, recessions and depressions, debt and deficits, inflation and deflation, GDP and GNP — all the usual suspects are there.

And to some degree, this is true for cities, counties, states, businesses, and nations.

But what about neighborhood governments? What about signs and signals, insults and favors, life and death, borders that change daily?  What about music (music??)

How many textbooks have you read, that deal with gang territory economics?

The September issue of Chicago Magazine published an extensive article titled, “DISPATCHES FROM THE RAP WARS” by BY Forrest Stuart| AS TOLD TO Elly Fishman. Here are a few excerpts from that long piece:

I pulled up a map of Chicago on my tablet and pointed to random intersections. No matter what corner, even miles from their homes, these (gang) kids had an intimate knowledge of gang activity there.

One boy told me, “If I walk down Cottage Grove, I know that in some places I need to keep my head on a swivel. In others, I can relax my guard.”

And I’m thinking, There is no real reason this kid should know this much about gang presence on the South Side, because he’s from another side of town.

It wasn’t just territory they had down cold. They were up on the latest of basically every gang war in the city.

Would that the American voter knew as much about the territorial conflicts going on all over the world, as the kids know about the numerous conflicts among the various gang territories in Chicago.

I asked these kids how the hell they knew all this. They looked at me like I was an idiot. “Music,” they said.

There are hundreds of gangs in Chicago these days, a splintering that occurred in the wake of the collapse of the traditional “supergangs” like the Black Disciples and Vice Lords in the ’90s.

They operate as block-level factions, making the city a complicated patchwork of warring territories.

In a relatively recent phenomenon, many of these gangs produce drill music—a Chicago-born, low-fi version of gangsta rap, full of hyperviolent boasts and taunts.

Drill music is their form of communication, their language, their not-so-United Nations  speeches.

These kids can quickly figure out whose territory they are in. If they are walking through a neighborhood and hear a certain kind of drill coming from a passing car or a phone speaker, they know that corner belongs to the gang Diddy Grove.

If they’re in Diddy Grove territory and notice songs by O-Block, that tells them Diddy Grove and O-Block are likely cliqued up.

That is how treaties are announced.

Zebo (a gang-banger) told me how drill perpetuates gang wars, how it’s an engine of both truces and feuds.

He kept returning to a refrain, one I would hear many times during my field research: ‘This is not just music. It’s not just a game. This shit is for real.”

(Gangs make) three kinds of videos. In one, they talk about nameless, faceless rivals, or haters.

In another, they specifically target a rival gang with lyrics like “So-and-so’s a bitch” or “So-and-so’s a snitch.”

And then there’s an in-between kind, which to an outsider sounds like generic disses but is actually very targeted, with the rapper flashing a rival gang’s hand signs upside down.

That is how wars are declared between “nations.”

It’s surprising how much strategy goes into the making and posting of these videos on YouTube and SoundCloud.

Gang members are constantly considering how to get the most views.  The thinking is that if a video pulls enough, record labels will start calling.

Sometimes the guys will record a video but wait to release it until a rival gang member—preferably one they’ve called out—is shot, so that it seems like (the gang) is taking credit.

It’s all about convincing viewers that the gang really does the violent stuff that they rap about—and often they do.

When the U.S., Russia, China, North Korea, et al parade their military hardware, it’s to  convince viewers they really are capable of “violent stuff.”

Each rapper in the gang has one or two “shooters.” These are the members who make good on the threats the rappers dish out in their lyrics and on social media.

Visualize the U.S. and Russian bombers attacking ISIS over Syria.

Their model is inspired by the local patron saint of drill rap, Chief Keef, who successfully leveraged the persona of a black superpredator.

The more he portrayed himself as a reckless, gun-toting, ruthless murderer, the more attention he got.

Eventually, Interscope Records signed him to a $6 million deal and off he went to Los Angeles. Hardly a day goes by without someone from CBE mentioning Keef.

That’s Economics 101 in Chicago gangdom. You won’t read about it in the textbooks or hear about it in college Economics or Marketing courses.

As one of the rappers would always say, “You know, white people, Mexicans, bitches, those people don’t live the life, but they love hearing about it. People want the Chiraq stuff. They want a superthug ghetto man, and I’m giving that to them. I’m just playing my role.”

That role means being at the nucleus of the gang.  The rappers are designated as the ticket out of poverty. It becomes the responsibility of the rest of the members to support and protect them.

More Economics 101 in gangdom. The rappers have shooters to protect them, while they try to earn money for the gang.

(In the gang), there are about 30 members total. Some act as producers or cameramen. Two, for example, basically serve as the tech department. They do stuff like steal the local school’s Wi-Fi password.

Visualize our NSA decrypting foreign codes, Emails, texts, and the Chinese and Russian hackers doing the same.

(A.J., a gang member) said, “I’m going to show you why I do this.” So he went on Facebook, Snapchat, and Twitter and wrote, “I’m on FT for the next 20 minutes” and gave his phone number.

FaceTime calls immediately started coming in from across the United States and Canada—male and female, ages 12 to 40, white, black, Hispanic—all like, “Oh my God, I love you. Your music is so great.”

He got so many calls that his phone ended up crashing. These are not things your average kid experiences.

A.J. turned to me and said, “I do this when I’m feeling shitty, or when I’m broke, or when I’m bored.”

Every few calls, a woman A.J. thought was attractive would pop up on FaceTime, and he would compliment the young lady, ask to see more of her, then goad her to take off a piece of clothing. Women would wind up getting undressed for him.

The guys have a term for these kinds of fans: cloutheads. The more popular you are as a drill rapper, the more clout you accumulate.

The more clout you have, the more cloutheads—easily exploitable groupies—you have. A.J. has a lot of cloutheads.

And he won’t just ask them to take off their clothes; he’ll ask them for money, meals, new iPhones—almost always in exchange for the promise of sex.

Since most of the guys in (A.J.’s gang) are really bad at dealing drugs, the gang relies on the rappers to bring in cash this way. The whole exchange between rappers and cloutheads is a bizarre modern twist on sex work.

You marketing majors probably have not explored this “medium.”

Junior, an 18-year-old shooter had been arrested for armed robbery—one way shooters make money is by “staining,” or stealing from people or stores in nearby neighborhoods—and had just come off house arrest.

He was broke, his mom had disowned him, and he was on the verge of becoming homeless.

He decided to become a rapper. He’d seen how those guys were excused from the actual violence, and wanted a legal hustle for himself.

About eight months after recording his first tracks, Junior was walking home when he was shot in the shoulder

When I visited Junior the next day, he was in an incredibly jovial mood. He was like, “Man, Forrest, I’m on! I’ve got clout!”

He was tracking his latest rap video on YouTube, and the daily views had tripled. Junior was so excited about having gotten shot and kept talking about how he was finally going to make it as a rapper. And he was right.

That was essentially the moment when his gang accepted him in that role. Another member of the gang stepped up to be his shooter, and a bevy of women started following him around.

Today, he’s a central figure in CBE.

Your high school or college advisor probably did not spell out that route to economic success.

One night Junior received a Facebook message from a 20-something white guy in Beverly Hills named Chad.

Chad wanted to pay Junior to record a verse for his album. To prove he was serious, he wired Junior $800 and uploaded a song that was complete except for Junior’s verse.

At various times during the week, Chad would invite his friends over to his house for informal Q&A sessions with Junior. “How does the drug economy work?” they’d ask. “What do you do on the corner?” “How do you deal with cops?” “Where do you get your guns?” 

Five days in, Chad and Junior had some sort of blowup, and Junior had to get out of town fast. In the end, he walked away with about $2,000 worth of new clothing, shoes, sunglasses, jewelry, and weed. He never did get around to recording that track.

The article goes into much more detail about the realities, complexities, and subtleties of gang life, none of which wind up in the economics, marketing, or general business books.

Yes, Supply and Demand, Risk and Reward, even recessions and depressions still apply. But it’s a lost economy, an invisible economy, though a big economy.

And “it’s not just a game. This shit is for real.”

Rodger Malcolm Mitchell
Monetary Sovereignty

====================================================================================================================================================

•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..

•No nation can tax itself into prosperity, nor grow without money growth.

•Cutting federal deficits to grow the economy is like applying leeches to cure anemia.

•A growing economy requires a growing supply of money (GDP = Federal Spending + Non-federal Spending + Net Exports)

•Deficit spending grows the supply of money

•The limit to federal deficit spending is an inflation that cannot be cured with interest rate control.

•The limit to non-federal deficit spending is the ability to borrow.

•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 the rest.

•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..

MONETARY SOVEREIGNTY

What is the character of America? Sunday, Sep 18 2016 

For this post, I will not offer comments. Though the title is “What is the character of America,” I won’t tell you in the body of this post, what I believe the character of America has been, is, and should be.

You will make that decision.

I ask only that if you are black, brown, yellow, Jewish, Muslim, gay, the member of any other minority, or if you simply believe in the Declaration of Independence statement, “We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness” — you should watch this fascinating, 7-minute video, all the way through.

ALL THE WAY THROUGH.

In just seven minutes your eyes will be opened to a Truth you might not believe otherwise, had you not seen it yourself.

See: What is the character of America?

Rodger Malcolm Mitchell
Monetary Sovereignty

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Ten Steps to Prosperity:
1. ELIMINATE FICA (Ten Reasons to Eliminate FICA )
Although the article lists 10 reasons to eliminate FICA, there are two fundamental reasons:
*FICA is the most regressive tax in American history, widening the Gap by punishing the low and middle-income groups, while leaving the rich untouched, and
*The federal government, being Monetarily Sovereign, neither needs nor uses FICA to support Social Security and Medicare.
2. FEDERALLY FUNDED MEDICARE — PARTS A, B & D, PLUS LONG TERM CARE — FOR EVERYONE (H.R. 676, Medicare for All )
This article addresses the questions:
*Does the economy benefit when the rich afford better health care than the rest of Americans?
*Aside from improved health care, what are the other economic effects of “Medicare for everyone?”
*How much would it cost taxpayers?
*Who opposes it?”
3. PROVIDE AN ANNUAL ECONOMIC BONUS TO EVERY MAN, WOMAN AND CHILD IN AMERICA, AND/OR EVERY STATE, A PER CAPITA ECONOMIC BONUS (The JG (Jobs Guarantee) vs the GI (Guaranteed Income) vs the EB) Or institute a reverse income tax.
This article is the fifth in a series about direct financial assistance to Americans:

Why Modern Monetary Theory’s Employer of Last Resort is a bad idea. Sunday, Jan 1 2012
MMT’s Job Guarantee (JG) — “Another crazy, rightwing, Austrian nutjob?” Thursday, Jan 12 2012
Why Modern Monetary Theory’s Jobs Guarantee is like the EU’s euro: A beloved solution to the wrong problem. Tuesday, May 29 2012
“You can’t fire me. I’m on JG” Saturday, Jun 2 2012

Economic growth should include the “bottom” 99.9%, not just the .1%, the only question being, how best to accomplish that. Modern Monetary Theory (MMT) favors giving everyone a job. Monetary Sovereignty (MS) favors giving everyone money. The five articles describe the pros and cons of each approach.
4. FREE EDUCATION (INCLUDING POST-GRAD) FOR EVERYONEFive reasons why we should eliminate school loans
Monetarily non-sovereign State and local governments, despite their limited finances, support grades K-12. That level of education may have been sufficient for a largely agrarian economy, but not for our currently more technical economy that demands greater numbers of highly educated workers.
Because state and local funding is so limited, grades K-12 receive short shrift, especially those schools whose populations come from the lowest economic groups. And college is too costly for most families.
An educated populace benefits a nation, and benefiting the nation is the purpose of the federal government, which has the unlimited ability to pay for K-16 and beyond.
5. SALARY FOR ATTENDING SCHOOL
Even were schooling to be completely free, many young people cannot attend, because they and their families cannot afford to support non-workers. In a foundering boat, everyone needs to bail, and no one can take time off for study.
If a young person’s “job” is to learn and be productive, he/she should be paid to do that job, especially since that job is one of America’s most important.
6. ELIMINATE CORPORATE TAXES
Corporations themselves exist only as legalities. They don’t pay taxes or pay for anything else. They are dollar-tranferring machines. They transfer dollars from customers to employees, suppliers, shareholders and the government (the later having no use for those dollars).
Any tax on corporations reduces the amount going to employees, suppliers and shareholders, which diminishes the economy. Ultimately, all corporate taxes come around and reappear as deductions from your personal income.
7. INCREASE THE STANDARD INCOME TAX DEDUCTION, ANNUALLY. (Refer to this.) Federal taxes punish taxpayers and harm the economy. The federal government has no need for those punishing and harmful tax dollars. There are several ways to reduce taxes, and we should evaluate and choose the most progressive approaches.
Cutting FICA and corporate taxes would be an good early step, as both dramatically affect the 99%. Annual increases in the standard income tax deduction, and a reverse income tax also would provide benefits from the bottom up. Both would narrow the Gap.
8. TAX THE VERY RICH (THE “.1%) MORE, WITH HIGHER PROGRESSIVE TAX RATES ON ALL FORMS OF INCOME. (TROPHIC CASCADE)
There was a time when I argued against increasing anyone’s federal taxes. After all, the federal government has no need for tax dollars, and all taxes reduce Gross Domestic Product, thereby negatively affecting the entire economy, including the 99.9%.
But I have come to realize that narrowing the Gap requires trimming the top. It simply would not be possible to provide the 99.9% with enough benefits to narrow the Gap in any meaningful way. Bill Gates reportedly owns $70 billion. To get to that level, he must have been earning $10 billion a year. Pick any acceptable Gap (1000 to 1?), and the lowest paid American would have to receive $10 million a year. Unreasonable.
9. FEDERAL OWNERSHIP OF ALL BANKS (Click The end of private banking and How should America decide “who-gets-money”?)
Banks have created all the dollars that exist. Even dollars created at the direction of the federal government, actually come into being when banks increase the numbers in checking accounts. This gives the banks enormous financial power, and as we all know, power corrupts — especially when multiplied by a profit motive.
Although the federal government also is powerful and corrupted, it does not suffer from a profit motive, the world’s most corrupting influence.
10. INCREASE FEDERAL SPENDING ON THE MYRIAD INITIATIVES THAT BENEFIT AMERICA’S 99.9% (Federal agencies)Browse the agencies. See how many agencies benefit the lower- and middle-income/wealth/ power groups, by adding dollars to the economy and/or by actions more beneficial to the 99.9% than to the .1%.
Save this reference as your primer to current economics. Sadly, much of the material is not being taught in American schools, which is all the more reason for you to use it.

The Ten Steps will grow the economy, and narrow the income/wealth/power Gap between the rich and you.

MONETARY SOVEREIGNTY

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