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.

Chamberlain and Obama are known for appeasement, Chamberlain to Hitler and Obama to the Tea/Republicans. The pictures of Obama proudly signing the JOBS bill while House Majority Leader (Republican) Eric Cantor beams behind him, brings back memories of Chamberlain proudly waving his document of capitulation.

Monetary Sovereignty

CBS News
Obama signs “JOBS Act” into law, calls it a “game-changer”
By Leigh Ann Caldwell
(CBS News) President Obama signed the bipartisan “JOBS Act” into law on Thursday afternoon, saying it will “remove barriers” for small businesses and will lead to job creation.

“New businesses account for almost every new job created in America,” the president said during a signing ceremony in the Rose Garden of the White House on Thursday. “That’s why I pushed for this bill.”

The “JOBS Act” (Jumpstart Our Business Startups Act) removes restrictions for small business and startups to receive broader access to capital and investors.

Translation: The JOBS act removes business restrictions, which Republicans always hate, even though those restrictions were not the cause of our recession or small business startup difficulties. .

The bill passed Congress with bipartisan support. Republican lawmakers, including House Majority Leader Eric Cantor, stood directly behind the president during the signing ceremony.

Translation: “Bipartisan support” means I did what the enemy wanted, so I’m sure they’ll cooperate with me in the future.

The law enables “crowdfunding,” which broadens the potential pool of investors, and it increases the amount the entrepreneur can initially raise. It also eases the ability of a small company to go public and allows entrepreneurs to advertise to the general public to gain investors.

Translation: It will erase restrictions on many phony investment schemes, while doing nothing for the economy.

… the president . . . (called) on Congress to adequately fund the Securities and Exchange Commission to oversee the new activity.

Translation: Now that I’ve given everyone’s front door keys to criminals, I ask a Congress that is in league with the criminals, to support the police, whose guns I’ve taken away.

The president said the activity is “subject to rigorous oversight” and the “SEC will play a vigorous role.”

Translation: The SEC did such a great job prior to the last recession, I expect them to do a similarly great job this time.

President Obama thinks of abject capitulation as a great victory of compromise, and the American people pay the price. Folks, don’t let the intentionally deceptive “JOBS” title fool you. This is a bad law.

America is not suffering from too much regulation. The jobs this silly bit of deregulation creates primarily will be for miscreants. When the President compromises with the Tea/Republicans, guard your wallet.

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. Two key equations in economics:
Federal Deficits – Net Imports = Net Private Savings
Gross Domestic Product = Federal Spending + Private Investment and Consumption + Net exports