— Katrina vanden Heuvel writes an article I wish I had written.

Mitchell’s laws: The more budgets are cut and taxes inceased, the weaker an economy becomes. To survive long term, a monetarily non-sovereign government must have a positive balance of payments. Austerity = poverty and leads to civil disorder. Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
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I wish I’d written this article:

Republicans are causing a moral crisis in America

The real crisis of public morality in the United States doesn’t lie in the private decisions Americans make in their lives or their bedrooms; it lies at the heart of an ideology — and a set of policies — that the right-wing has used to batter and browbeat their fellow Americans.

Great article. What she says is so obviously true, I’m amazed that the entire nation doesn’t get it. But then, I feel the same amazement that the entire nation doesn’t get Monetary Sovereignty.

Hmmm . . . I wonder if she does.

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: Cutting federal deficits to grow the economy is like applying leeches to cure anemia. Two key equations in economics:
Federal Deficits – Net Imports = Net Private Savings
Gross Domestic Product = Federal Spending + Private Investment and Consumption + Net exports

#MONETARY SOVEREIGNTY

3 thoughts on “— Katrina vanden Heuvel writes an article I wish I had written.

  1. Tyler,

    I agree that the higher the unemployment benefits, the more people who will prefer not to work. But these “I-can’t-find-employees” war stories aside, the number of people preferring slothful poverty is relatively small.

    When someone can’t find employees, it usually is because the job is too unpleasant or the knowledge requirements are too high. McDonald’s finds people.

    Unemployment benefits, which range nationally from about $50 to about $350 per week, are at low levels for the vast majority of people. The average American income is above $800 per week.

    Rodger Malcolm Mitchell

    Like

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