Mitchell’s laws: Reduced money growth never stimulates economic growth. To survive long term, a monetarily non-sovereign government must have a positive balance of payments. Economic austerity causes civil disorder. Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
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64% of Americans believe anemia should be cured by a combination of reduced blood transfusions and increased application of leeches. Well, actually it’s 64% of Americans who believe an anemic economy should be cured by reduced federal spending and increased taxes:
Washington Post-ABC News Poll, 10/11/11
This Washington Post-ABC News poll was conducted by telephone September 29-October 2 2011, among a random national sample of 1,002 adults, including landline and cell phone-only respondents.A committee of (Democrats) and (Republicans) in Congress has until late November to propose ways to cut the federal deficit by one-point-two trillion dollars over the next 10 years. Do you think this should be done by (cutting federal spending), by (increasing taxes), or by a combination of both?
Cutting federal spending . . . 31%
Increasing taxes . . . . . . . . . 3%
Combination . . . . . . . . . . . 64%
No opinion . . . . . . . . . . . . . 2%
No comment.
Rodger Malcolm Mitchell
http://www.rodgermitchell.com
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No nation can tax itself into prosperity, nor grow without money growth. Monetary Sovereignty: The key equation in economics: Federal Deficits – Net Imports = Net Private Savings
MONETARY SOVEREIGNTY
#Monetary Sovereignty - Mitchell 
Well can you blame them? The media and politicians and everyone who should know better continues pounding this same crap into their head about how our debt is our biggest problem. People unfortunately believe what they are told, specially when it is told over and over from multiple sources.
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Mark,
You’re right. I don’t blame them. I blame the old-line, Nobel-winning economists, who don’t have the courage to open their minds, learn and then publish against the popular wisdom. They are a disgrace to science and to education.
They remind me of the doctors who refused to wash their hands, despite the pleas from Dr. Ignaz Semmelweis.
Rodger Malcolm Mitchell
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