–A Christmas letter to Bruce Dold, editorial page editor of the Chicago Tribune

Mitchell’s laws:
●The more federal budgets are cut and taxes increased, the weaker an economy becomes.
●Austerity is the government’s method for widening the gap between rich and poor,
which leads to civil disorder.
●Cutting the deficit is the government’s method for taking dollars from the middle class and giving them to the rich.
●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.
●Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.

●The penalty for ignorance is slavery.

In the spirit of Christmas, I sent the following letter to Mr. Bruce Dold, editorial page editor of the Chicago Tribune.

Dear Bruce:

Merry Christmas

I read your editorial titled, “Merry Christmas, where you spoke pridefully of publishing the phrase “fiscal precipice,” way back in 1893. And I admired your bemoaning the “raging uncertainty for employers, their workers, savers, consumers, investors, federal contractors, service providers.” And your sympathy for “2 million anxious Americans who some time ago exhausted their state unemployment benefits and don’t know if their extended federal benefits now will expire.”

It was lovely.

But then I read your comment about “decades of federal spending beyond the level of revenue Washington was collecting,” and I remembered you’re the newspaper that wants to cut Social Security, cut Medicare, cut unemployment compensation, cut food stamps, cut welfare and other aids to the poor, even cut federal employment — because, after all, that’s the only way to cut federal spending.

And I remembered you also wanted to “broaden the tax base,” meaning make more poor people pay more tax.

And I realized your sympathy for middle and lower classes was all crocodile tears.You are smart enough to realize that deficit reduction always takes from the poor, and here you pretend to worry about those folks. What cynicism!

Are you so beholden to the rich, that you are willing to sacrifice your soul, to be complicit in children starving and not having medical care, in homelessness, joblessness and hopelessness? Does it bother you at all that families are being destroyed, and people are cold and hungry and living in squalor for lack of money?

And you pretend to worry that the federal government — not the people — will run short of dollars.

Does it affect you at all that deficit reduction (aka “austerity”) has caused, and continues to cause, massive human misery in every nation in which it has been tried, including your own nation, the United States of America?

Really Bruce, have you no conscience?

Anyway, I wish you a merry Christmas. I hope your family is warm, well-fed and happy, and that your loved ones never will know the pain and panic of starvation and destitution and hopelessness.

But I still must ask, What manner of people are you?

Rodger Malcolm Mitchell
Monetary Sovereignty

(In immediate response, I received an automated note saying Bruce is off enjoying the holiday for the week. It didn’t say whether he stayed in his opulent home or went on an opulent cruise, or perhaps just flew to an opulent vacation spot. I’ll write to him again next week, and ask.)


Nine Steps to Prosperity:
1. Eliminate FICA (Click here)
2. Medicare — parts A, B & D — for everyone
3. Send every American citizen an annual check for $5,000 or give every state $5,000 per capita (Click here)
4. Long-term nursing care for everyone
5. Free education (including post-grad) for everyone
6. Salary for attending school (Click here)
7. Eliminate corporate taxes
8. Increase the standard income tax deduction annually
9. Increase federal spending on the myriad initiatives that benefit America’s 99%

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 Imports


One thought on “–A Christmas letter to Bruce Dold, editorial page editor of the Chicago Tribune

  1. Austerity has been a toxic bomb for both the UK and Spain (among others). Can the word he gotten out the austerity is not the solution – in really simplistic turns? This isn’t 1933 when much of the world was on the gold standard and could not think beyond that. Suggestions?


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