●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.
●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.
●Everything in economics devolves to motivation.
Can you find the connection among the following stories?
Not a word of complaint from a single Democrat in Congress, which is especially infuriating given the broad bi-partisan agreement among voters that criminal bankers need to do time.
Too concerned with keeping up appearances and the next election cycle, neither side of the false left-right paradigm of American politics is capable of exposing its own filth when it comes to legitimate scandal, and this DOJ non-prosecution madness involving Goldman Sachs certainly qualifies as sordid.
Unfortunately, since it appears to the mainstream media that this is a partisan issue, and Obama is the anointed one, this story will get zero coverage.
Obama, Democrats, Republicans and media fail to demand that wealthy bankers be prosecuted for criminal actions that cost Americans trillions of dollars. Why?
Timothy Geithner Says Justice Is Nice but Banks Are Just the Best
By: masaccio Thursday January 24, 2013
The Secretary of the Treasury discusses the rule of law
The soon-to-depart Treasury Secretary Timothy Geithner confirmed to Liaquat Ahamed of The National Review that his goal was to protect bankers:
… My own view was that it was going to be very hard, if not impossible to design a financial rescue that was going to be effective in protecting all the innocent victims hit by the crisis and still satisfy the completely understandable public desire for justice and accountability. Those things were in direct and tragic tension, never resolvable at that time.
I always felt that the only preoccupation for people in policy at the time should be to fix the problem as quickly as we could, as effectively as we could, and only after that would other things be possible, including how to figure out not just how to clean up the mess, but reform the financial system.
That’s just silly. There is no tension between protecting the innocent victims and locking up the criminals who caused the Great Crash. None.
And his claim that he wanted to do anything for the “innocent victims” is laughable. The truth is what he told Elizabeth Warren and Neil Barofsky: he wanted to foam the runway with the financial corpses of the victims of mortgage and foreclosure fraud so that the banksters and the feral rich would have a soft landing.
Tim Geithner would not, did not and never will demand that the rich criminals be prosecuted. He uses the old, “We must do this, before we do that” excuse for inaction. Why?
It’s now obvious to everyone that – even though criminal fraud dominates Wall Street – the Obama administration refuses to prosecute white collar crime. Ronald Reagan, George W. Bush, George H.W. Bush and Bill Clinton each prosecuted financial crime more aggressively than Barack Obama.
Of course, the lack of a fair and even-handed legal system destroys prosperity and leads to the breakdown of society.
National security claims are also used to keep financial fraud secret (and people who protest runaway criminality by the big banks are targeted as terrorists). And when those in the private sector blow the whistle on potential crimes, they are targeted also.
But it’s not like the government isn’t aggressively using the legal system … it’s just using it to silence the truth. Specifically, the Obama administration has prosecuted more whistleblowers than all other presidents combined.
Government employees also go out of their way to smear whistleblowers, threaten reporters who discuss whistleblower information and harass honest analysts.
Indeed, even high-level government employees are in danger. For example, after the head of the NSA’s spying program – William Binney – disclosed the fact that the U.S. was spying on everyone in the U.S. and storing the data forever, and that the U.S. was quickly becoming a totalitarian state, the Feds tried to scare him into shutting up:
[Numerous] FBI officers held a gun to Binney’s head as he stepped naked from the shower. He watched with his wife and youngest son as the FBI ransacked their home.
Later Binney was separated from the rest of his family, and FBI officials pressured him to implicate one of the other complainants in criminal activity. During the raid, Binney attempted to report to FBI officials the crimes he had witnessed at NSA, in particular the NSA’s violation of the constitutional rights of all Americans.
However, the FBI wasn’t interested in these disclosures. Instead, FBI officials seized Binney’s private computer, which to this day has not been returned despite the fact that he has not been charged with a crime.
Other NSA whistleblowers have also been subjected to armed raids and criminal prosecution.
Not only do Obama and both political parties ignore criminal activity, but they actively prosecute innocent people who report criminal activity. Why?
The parties are at odds over ways to reduce the deficit. Republicans favor spending cuts; Obama prefers a combination of spending cuts and increasing tax revenue.
The president said he would address taxes and looming across-the-board budget cuts, known as the sequester, in the speech. The White House and Congress have pushed back the automatic cuts once, and Obama wants to do it again in order to create an opening for a larger deficit reduction deal.
“I am prepared, eager and anxious to do a big deal, a big package that ends this governance by crisis where every two weeks or every two months or every six months we are threatening this hard-won recovery,” he said last week.
Obama and both parties and the 400+ economics PhDs of the Counsel of Economic Advisers all are well aware that austerity crushes the middle- and lower income classes. Always has; always will. Yet, Obama and both parties engage in a shameful charade – a fake debate about the best way to institute austerity. Why?
Chris Altchek (firstname.lastname@example.org)
In the U.S., automatic budget cuts (called sequestration) are looking more likely to go into effect on March 1 as lawmakers struggle to agree on an alternative. The first cuts will total $85 billion from March through September. The Defense Department will absorb about half of the budget cuts. Economists project the sequester could reduce the national GDP by almost 0.6% this year.
Obama and both parties cannot all be ignorant of the facts. Yet they not only ignore criminal activity, not only prosecute those who report criminal activity, but engage in criminal activity themselves: The destruction of America’s freedoms and our middle- and lower classes.
Clearly, they have a strong motive, and the only motive that makes any sense is this: They are paid criminals, paid by the upper 1% income group to widen two gaps – the wealth gap and the freedom gap – between the rulers and the ruled.
Even the Republicans, who have proved they will do anything and say anything to gain votes and tar Obama with a thick, black brush, have not criticized him for prosecuting the innocent and ignoring, no supporting, the guilty. Why?
America is being ruled by the largest criminal enterprise in history. This criminal enterprise dominates every corner of the government. It dominates the media. It dominates the academic community. It dominates the minds of the public.
It is funded by the wealthiest .1%, the sole purpose being to increase their power, i.e. increase the gaps between the rich and the rest.
It dominates you.
Rodger Malcolm Mitchell
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