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. Austerity breeds austerity and leads to civil disorder. Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
Just when you thought that Sarah Palin’s leaving center stage would restore some sanity to the coming election, the Tea/Republican candidates continue to top themselves. Here you have Ron Paul, Jon Huntsman, Rick Perry, Newt Gingrich, Rick Santorum, Gary Johnson, Buddy Roemer, Sneezy, Dopey and Grumpy. They’re enough to send even the most dour of us into laughter spasms.
“But wait” as the T.V. pitchmen say, “there’s more. All of the following happened today:
Rep. Michele Bachmann said she was surprised to hear that her entire New Hampshire campaign staff had quit en masse today, even though they “had not been paid for a month,” one of the departing staffers told ABC News.
Let’s see. She repeatedly makes stupid comments, but her people heroically stand with her. In thanks for their efforts, she doesn’t pay them for a month. And then she’s not only surprised they finally quit, but wasn’t even aware it happened. She must be taking staff-management lessons from Newt.
Herman Cain has said his much-reviled 9-9-9 plan was the product of extensive testing and thinking, but the only man he cited as involved with its research — Rich Lowrie of Cleveland — is not a trained economist. Cain now has introduced changes in which impoverished Americans would be exempted from the nine percent individual flat tax. “If you are at or below the poverty level, your plan isn’t ‘9-9-9,’ it’s ‘9-0-9,'” Cain said.
He has one idea, just one. His lone idea is a tax plan cleverly named “9-9-9” so his followers wouldn’t even need to think. They can just chant, “9-9-9” He knows nothing about foreign policy, domestic policy or any other policy. All he has is this “extensively tested and thought about” tax plan.
So when his own party pointed out that his tax plan was ridiculous, he simply changed the name to “9-0-9″ for some people. If incredibly he gets elected, we all should dial 9-1-1.
Florida Sen. Marco Rubio the national Republican party’s fastest rising star, has over the years, repeatedly spoken emotionally of how his parents fled Cuba when Fidel Castro took power, and that’s why he loves America more than anyone. Except the whole thing is a lie. His folks didn’t escape Castro. They left Cuba four years before they, or anyone else, even heard of Castro
O.K., so he dodged all the debates. And he lied about his own parents. And he has presented not one idea about anything. But he’s good looking and glib and he really, really, really loves America. And that is what qualifies him to be the Tea/Republicans fastest rising star. I’m confident he knows how to reduce unemployment and grow our economy — just as all Tea/Republicans do. Right.
You simply cannot make this stuff up. If all of this was today’s news, I wonder what’s in store for America, tomorrow.
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