Mitchell’s laws: To survive, a monetarily non-sovereign government must have a positive balance of payments. Economic austerity causes civil disorder. Reduced money growth cannot increase economic growth. Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
The Washington Post online has a feature called, “The Federal Eye” The 9/6/11 version included the following:
White House: Hurricane Irene will cost at least $1.5 billion
The White House says it will need at least $1.5 billion in fiscal 2012 to start paying the federal government’s share of damages caused by Hurricane Irene.
An estimate released Monday is on top of $5.2 billion the Obama administration said last week that it needs to keep funding reconstruction projects prompted by previous natural disasters, including the tornadoes in Joplin, Mo., this past spring and Hurricane Katrina in 2005.
The estimates come as Senate appropriators plan Tuesday to begin considering the annual homeland security spending bill. A GOP-backed version passed by the House includes $1 billion in supplemental assistance for fiscal 2011 and $2.65 billion for fiscal 2012, which begins Oct. 1.
House Majority Leader Eric Cantor (Va.) and other Republicans have called on the Senate to pass the measure, which would pay for storm damage by cutting some money allocated for an Energy Department program for advanced-technology vehicles.
At one time, the government believed we needed this advanced technology, which includes:
Plug-in hybrid electric vehicle technologies
Extended range electric vehicle technologies
Hybrid electric, pure electric, and hydraulic technologies
Advanced electric drive technologies and engine technologies
Advanced energy storage (i.e., batteries) technologies and chemistries
Advanced climate control, power electronic, and other ancillary systems technologies
Internal combustion engines burning advanced fuels (i.e., 100% hydrogen and hydrogen/CNG-blended fuels)
The research would have had far-reaching implications, as it not only would help reduce use of fossil fuels and pollution in cars, busses and trucks, but affect many other areas like architecture, manufacturing, farming, and energy production. It could be among the most important research initiatives in America.
However, those things now are felt to be less important than reducing the federal deficit, which I agree is more important, in that such reduction will cause the next recession if not depression. What could be more important than recessions and depressions?
The other headline in the “Federal Eye” was:
Postal Service warns it could lose $10B this year; Postal Service fighting for its life
The U.S. Postal Service could lose up to $10 billion and have little more than a week’s worth of money left in the bank when its fiscal year ends Sept. 30, the nation’s top postmaster will tell Congress Tuesday.
Postal officials are hoping the latest numbers will finally compel lawmakers to grant them new legal authority to alter delivery schedules, close post offices and lay off hundreds of thousands of workers.
Who could argue with the government’s desire to slash postal services and fire hundreds of thousands of postal workers. Our government is “broke” (John Boehner said so), and all spending must be balanced with cuts (Eric Cantor said so), so forget about the fact that a Monetarily Sovereign government never can be broke, and a balanced federal budget always leads to recessions and depressions.
You won’t notice the absence of advanced technology research. You’ll soon forget the worsened postal service and the hundreds of thousands of unemployed postal worker. You happily will vote for the guy who still favors “change” (Obama) or who thinks Social Security is “a bad disease,” (Perry), or one of the other empty vessels, who have zero understanding of Monetary Sovereignty, but want to lead our nation.
I wonder what it will take to get you to contact your political representative, and tell him to stop looking for ways to reduce the amount of lifeblood (aka money) entering our economy.
I seriously hope you are preparing for the next recession or depression. Nothing can stop it now. The politicians guarantee it, as formerly great America dwindles, dwindles, dwindles.
Rodger Malcolm Mitchell