Mitchell’s laws:
●The more budgets are cut and taxes increased, the weaker an economy becomes.

●Until the 99% understand the need for federal deficits, the upper 1% will rule.
●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.


Sorry for being the mean old Grinch who stole Christmas, but I found the following headline intriguing:

“Double amputee Oscar Pistorius, a.k.a ‘Blade Runner,’ has qualified for the 400m finals.” (

Here’s my prediction: The day he wins a medal is the day the IOC and the world will begin to realize he has, or soon will have, an unfair advantage — something akin to performance improving drugs.

Every year, manufacturers will find ways to make the blades better and better. Perhaps, in the next couple of years, someone using new improved blades will run the 100 meters in 5 seconds, run a mile in 2 minutes, do a 50 foot long jump and a 15 foot high jump — maybe even do the pole vault without a pole.

Ironically, the IOC just banned performance enhancing swim suits, so I guess there’s no chance we’ll see swim fins for legless swimmers. Or is there?

His using the blades is political correctness gone wild. But, as with economics, sometimes the obvious takes a bit of time to become . . . well, obvious.

Rodger Malcolm Mitchell
Monetary Sovereignty

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