Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
============================================================================================================================================================================
In a previous post I asked whether President Obama was a Coward, fool or traitor to America. We now have our answer.
This article by Lori Montgomery, ran in the 7/7/2011 Washington Post: Obama offers Social Security cuts. A few quotes:
President Obama is pressing congressional leaders to consider a far-reaching debt-reduction plan that would force Democrats to accept major changes to Social Security and Medicare in exchange for Republican support for fresh tax revenue.
Not only does he wish to raise taxes, an anti-stimulus move, but he is ready to cut Social Security benefits — anti-stimulus and anti-working class.
At a meeting with top House and Senate leaders set for Thursday morning, Obama plans to argue that a rare consensus has emerged about the size and scope of the nation’s budget problems and that policymakers should seize the moment to take dramatic action.
It is the same rare consensus that said the world is flat, the earth is the center of the universe and the gods live on Mount Olympus — in short, a consensus of fools.
As part of his pitch, Obama is proposing significant reductions in Medicare spending and for the first time is offering to tackle the rising cost of Social Security, according to people in both parties with knowledge of the proposal.
In joining the Tea Party, Obama shows himself to be all three: Coward, fool and traitor to America. The battle is over, folks. Take down your flag and go home. Your leader has surrendered to buy some votes, and America will pay the price.
Rodger Malcolm Mitchell
http://www.rodgermitchell.com
==========================================================================================================================================
No nation can tax itself into prosperity, nor grow without money growth. It’s been 40 years since the U.S. became Monetary Sovereign, , and neither Congress, nor the President, nor the Fed, nor the vast majority of economists and economics bloggers, nor the preponderance of the media, nor the most famous educational institutions, nor the Nobel committee, nor the International Monetary Fund have yet acquired even the slightest notion of what that means.
Remember that the next time you’re tempted to ask a teenager, “What were you thinking?” He’s liable to respond, “Pretty much what your generation was thinking when it ruined my future.”
MONETARY SOVEREIGNTY
#Monetary Sovereignty - Mitchell 
Fool me once………………………
Never again. This might include voting for anyone running for a Federal Office. Any other countries you might recommend to reside in?
LikeLike
Canada, or Australia where you can still get a job at the moment, as well as universal healthcare, but to be honest, the stupidity is everywhere.
I can tell you that in Australia, after implementing a successful fiscal stimulus package at the time of the crisis, one that kept the nation out of recession – unemployment went from about 4.8% to about 6% then back down to ~5% where it still is – the “progressive” federal government is getting absolutely flogged politically by the conservative opposition over the deficit that naturally resulted.
The size of that deficit? a paltry 3.6% of GDP, yet the media has still managed to whip up a lather of panic of unsustainable debts that our grandchildren will be paying off, and all the talk is of budget cuts and austerity measures to get back into surplus by 2013… They will probably lose the next election to the ever more rabidly conservative opposition.
LikeLike
Unfortunately, Hamish, without a job offer relocating to Canada is difficult. Also, at my age it is even more difficult to obtain citizenship. The authorities do not make it easy for those they perceive as wanting Canadian citizenship in order to obtain universal health care. Also, it seems the conservatives are pulling the same shenanigans there and are making serious inroads. They are winning the battle everywhere it seems. Thanks for the suggestions, though.
LikeLike
It’s not the country; it’s the politicians. You might consider a write-in for my friend, Warren Mosler. He has run for office and he does understand Monetary Sovereignty.
Rodger Malcolm Mitchell
LikeLike
I have been a follower of Warren’s for quite some time and would certainly consider doing so. Though individual write in votes carry little weight in our one-party electoral and governmental systems. The comment regarding another country was a less than serious one, and I agree wholeheartedly with your assessment. All I feel I can do personally is spread the word about Monetary Sovereignty and attempt to convince others. The manufacturing of consent that takes place is a difficult obstacle to overcome, but I feel I must keep trying. Thanks for the reply.
LikeLike
“All I feel I can do personally is spread the word about Monetary Sovereignty and attempt to convince others.” I agree, Charles.
Rodger – a suggestion for a blog post subject. If you had 3 minutes to speak at a town hall meeting, what would you say?
LikeLike
What do you suggest Obama do, stand pat and default on the debt?
Although Mr. Bipartisan does not understand the modern presidency or the use of the bully pulpit, we have an ornery legislature, both of which are ignorant of modern economics – one wants to raise taxes, the other wants to slash benefits. It is they who must come up with the law to raise the debt ceiling.
President Obama’s style is to let the Congress make sausage in the process. Look at the health care legislation– ugly with no one happy with the results. But in the end, it is Congress that passes laws for the Presidents approval or veto.
LikeLike
I suggest Obama tell America the truth about the federal debt and federal deficits. Is that too much to ask? After all, he is the President of the United States of America. If he neither has the knowledge, the courage nor the honesty to tell the truth, what the hell is he doing as President?
Rodger Malcolm Mitchell
LikeLike
AMEN!!! Thank you Rodger. Telling the truth seems to be something Obama and the vast majority of our representatives are adverse too.
LikeLike
If Obama takes responsibility, “to tell America the truth about the federal debt and federal deficits,” what do you think the reaction will be from the general electorate, Wall Street, and economic commentators?
LikeLike
Amazement
LikeLike
Lastly, what do you think the reaction will be from the Republican and Tea-party?
LikeLike
Screaming, biting, kicking, weeping, sign carrying, foaming at the mouth, lying, tooth gnashing, exaggerating, threatening, crying, pounding heads against the wall, wailing, clothes rending — in short, the usual Tea/Republican response to virtually anything.
Rodger Malcolm Mitchell
LikeLike
Good article by Marshall Auerback, one of the very few bloggers who understands Monetary Sovereignty, at: Auerback
Rodger Malcolm Mitchell
LikeLike