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.
In an earlier post, I asked: “Why doesn’t President Obama support #Occupy Wall Street?” The short answer was that he is part of the #1% and beholden to them.
But #Occupy Wall Street is the real deal. It is not a little protest movement by a small bunch of rag-tag, hippie teenagers. It’s America. With the Democrats and the Tea/Republicans under the thumb of the wealthy #1%, the #99% is angry and frustrated, and this anger and frustration will tear America apart, unless the politicians start to understand reality.
Tax increases and spending cuts will not reduce unemployment.
Tax increases and spending cuts will not grow the economy.
Austerity hurts everyone but the rich, and the #99% are justifiably restive.
Watch this video: People arrested for trying to close accounts at Citibank.
This is America?
Watch this video: People arrested for trying to close their accounts at Bank of America
Can you believe this is happening in America?
People see banks and wealthy banksters being bailed out, and ask, “Who will bail out the people?” They are told, “We can bail out the banks, and we can’t punish them, because they are too big to fail. But there isn’t enough money to help you little people, and if you protest, we’ll have the police arrest and beat you.”
This is the American dream?
Cutting Social Security hurts the #99%. Cutting Medicare hurts the #99%. Eliminating the long-term care provisions of “Obamacare” hurts the #99%. Cutting Medicaid hurts the #99%. The establishment’s lies about federal debt hurt the #99%. HAMP was a massive lie, designed to mollify the American poor, while doing nothing to help them.
As I’ve said in the prelude to this and other posts, “ Economic austerity causes civil disorder.” So far, we’ve had a meek form of civil disorder, but it’s growing. Riots in the streets are next. And why? Because the economists, the media and the politicians, in league with the wealthiest, have spread the myth that our Monetarily Sovereign nation doesn’t have sufficient money to bail out the nation.
The #99% knows something is wrong, but they don’t know how to argue the facts. They’ve been fed so many myths, they are confused. All they can do is vent their anger in the streets. The anger is growing, and the #1% had better wise up, or America will be torn to pieces.
Democrats and Tea/Republicans: Stop lying to the people and don’t ignore them. Don’t try to clamp a lid on this pressure cooker. Learn Monetary Sovereignty and spend what is necessary to lift the #99%, or you will lose everything. And you would have only yourselves to blame.
Revolution is in the air.
Rodger Malcolm Mitchell
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. The key equation in economics: Federal Deficits – Net Imports = Net Private Savings