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.
Yes, you’re just one person, and you don’t have much influence in a nation of 300+ million people. But you still want your voice heard. So, O.K., you vote. But, look at the lousy roster of candidates! And what does one vote mean?
What to do? What to do?
Here’s a suggestion. Cut and paste the following note and send it to your Congressperson, your local newspaper and the President. If each person reading this blog will do that, Congress and the newspapers will receive thousands of letters, and you will have a meaningful voice.
And if any of your letters are printed, others will read them, and you’ll have an even bigger voice. And if you subscribe to any other blogs, and include this letter, you’ll have an even bigger voice, yet.
(Remember, when you write to newspapers, you should include your name and contact information)
The definition of Gross Domestic Product: GDP = Federal Spending + Private Investment + Private Consumption + Net exports
So, here is a simple question you should be able to answer: Specifically, how do federal tax increases and/or spending cuts (aka debt reduction) reduce unemployment or grow the economy?
If you can’t answer, then there clearly is something wrong with the whole super committee concept.
Those who do not understand Monetary Sovereignty (https://rodgermmitchell.wordpress.com/2010/08/13/monetarily-sovereign-the-key-to-understanding-economics/) do not understand economics.
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
5 thoughts on “–Want to help America? Take on this one, very easy, empowering task.”
Unclear msg make it simpler
I’m with you
I don’t think they’d publish that letter. It assumes that people know enough about economics or cares enough about learning economics to discern what the equation means. And if it was published, it’d be buried in the middle of the paper somewhere.
If I may, I’d recommend sending the following:
Think of the economy as a business, because that’s basically what it is. In the United States, the government is that business’ biggest and best single customer, and it has been for decades. Now…
Why, when our business is doing horribly, would we tell our best customer to stop buying from us? It’s not debt; this customer has more than enough money. In fact, this customer owns the mint. It can create and destroy money and debt anytime it pleases.
Thank you in advance for your reply.
It says the exact same thing you’re trying to say, but in a way the layman won’t shy away from.
Just my two cents……….
I sent your message to my congressman, Jim Moran. Also, I submitted the following petition to the White House:
We petition the Obama administration to abolish the federal income tax. Every year, the federal government takes one trillion dollars of the American people’s hard-earned money. Then, we wonder why our economy is in such horrendous shape. Abolishing the federal income tax would provide an enormous stimulus to our economy, and it would end the practice of the federal government taxing the labor of the American people.
Unfortunately, the Obama administration is focused on deficit reduction, which will only hurt the economy. Way to go, folks.
Fifty million Americans are living in poverty! President Obama, find a way to stimulate the economy or find a new job.
You can find my petition here: https://wwws.whitehouse.gov/petitions#!/petition/abolish-federal-income-tax/QqCGDj0c
Dennis Kuchinich has a bill H.R 2990: Dennis Kucinich’s bill to nationalize the Federal Reserve « Primary Obama Now at
and a related NEED_Act_Fact_Sheet_09232011.pdf (application/pdf Object)
Click to access NEED_Act_Fact_Sheet_09232011.pdf
I can’t figure out if it is consistent with MMT. Please comment.
Kucinich has been spouting this delusional stuff for many years. He makes a long list of everything wrong with America, then blames the Fed for it. He thinks that somehow the Fed is doing something the President and Congress don’t want, because they supposedly are “independent.”
He is so wrong, so misguided and so nuts, it’s difficult to know where to begin. Despite all the media mouthings, the Fed is a bit player in all this. Congress and the President rule the economy and the Fed.
Rodger Malcolm Mitchell