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.
●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 motive.
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My legacy:
I increased FICA
I cut Social Security
I cut Medicare
I cut Medicaid
I cut federal employees
I cut post office employees
I cut military employees
I cut scientific research and development
I cut NASA
I cut food inspection
I cut drug inspection
I cut stock market regulations
I cut bank regulation
I cut food stamps
I cut housing for the poor
I cut aid to the poor
I cut aid to the elderly
I cut aid to the disabled
I cut aid to education
I even cut visitors the White HouseI widened the gap between the rich and the rest
and I never prosecuted a single crooked banker.So will you contribute to my Obama library
and pay me big money for speeches
and hire my wife and kids to high-paying jobs?No?
Who needs you? I’m helping my rich friends who will.
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Rodger Malcolm Mitchell
Monetary Sovereignty
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
#MONETARY SOVEREIGNTY
#Monetary Sovereignty - Mitchell 
Priceless! But such a pity. It’s a sad state of affairs, Sir.
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At least Bush was partly involved in making Bush’s decisions. Obama, however, is a mindless automaton that does whatever the bankers and Wall Street tell him to do. (Bush was too, but Obama completely so.)
The White House has been empty since 20 Jan 2008.
My symbol for Obama is those three-foot-high “lawn jockey” statues that racists used to put in front of their houses. Or maybe a Negro ventriloquist’s dummy from the Vaudeville days.
The Bush chimp was followed by the Obama monkey.
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Rodger, you’ve not said how, if Prez, you’d administer a ‘MS’ Fed. How would you Yes/No the inevitably endless state/local/private demands for more $$? Wouldn’t sane humans do so, once they knew how it really works??
So, how would you do the day-to-day. Why would you ever say, no $$!
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The government already says “no $$.” But they are using the wrong limit as the criterion. So, it simply is a matter of changing the criterion.
Today, the limit to federal spending, i.e. the criterion, is the so-called “debt.” Because the “debt” is felt to be too high, the government is reducing deficit spending.
Debt is the wrong criterion. The correct criterion is excessive (above 2%-3%) inflation.
If inflation rose above that target, I first would raise interest rates, and if that didn’t solve the inflation problem, I’d cut deficit spending.
As for the Fed, I’d tell the Chairman, “You have one job: Control inflation. Don’t worry about stimulating the economy. That’s not your job. That’s Congress’s and my job. Your job is to hit the inflation target. Let me know when you can’t do it. Then I’ll cut deficit spending.”
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Thanks, wise-man! In practice, though, deficits have immediacy — they’re tabulated as they occur. Inflation is an after-effect, arguable both in its calculation and predictive consequences. One an accountant can manage, the other, at least at present, requires a ‘fortune teller’.
Don’t you agree that the tech and know-how needed to effectively manage our economy based on inflation criterion (forecasts) are not yet available?
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How would you manage deficits? What would be your target?
The sole legitimate concern about deficits is their potential effect on inflation.
The Fed already predicts and manages inflation. That’s how we stay close to their target, year after year.
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“The Fed already predicts and manages inflation. That’s how we stay close to their target, year after year”……Rodger? “Their target”? Whose target? When did you grow so taken with the ‘Phantom-Fed’s’ read on Inflation?’ Me-thinks they’re ‘Crap Shooters’. I say we’ll one day cyber- oversee the economy, and likely validate your insights. But, we’re not there yet. Rodger? The Fed? Come on!…………….
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When I see this picture and read the words (all of which are a very accurate depiction of Obama’s agenda) I cannot help but be filled with fear, loathing, and utter disgust.
Obama has to be the most execrable POS that was ever elected to the office of the president, and only goes to prove that timeless maxim of Douglas Adams (may he RIP), that:
“Under no circumstances should anyone capable of getting themselves elected president be allowed to do the job.”
So sad that the very first black man (actually a mulatto) to ever reach the presidency turn out to be such a huge disappointment.
From the moment he took office I developed a strong dislike for him, mainly due to the way he looked down his nose at everyone. Also, as soon as he started appointing former Clinton era people to economic advisory type positions I knew the nation was in for a very bumpy ride!
This will definitely set the cause of African Americans and all people in the U.S. back decades, if not centuries (i.e., a new form of slavery has now descended on the nation thanks in large part to this deplorable man).
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Good article: http://www.nakedcapitalism.com/2013/04/now-its-official-obama-sells-catfood-futures-um-social-security-and-medicare-cuts.html
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Obama posted his weekly address on YouTube today.
At 1:50 he says, “Our deficits are already shrinking. That’s a fact. I’ve already signed more than 2.5 trillion dollars in deficit reduction into law. And my budget will reduce our deficit by nearly 2 trillion more, without harming the recovery. That surpasses the goal of four trillion in deficit reduction that many economists believe will stabilize our finances.”
Obama has removed $2.5 trillion from the economy, and he wants to remove $2 trillion more. Hooray!
The video itself is titled, “Weekly Address: The President’s Plan to Create Jobs and Cut the Deficit.”
Like I keep saying, the depression is only getting started. We are stuck with Obama until 20 Jan 2017. Poverty and unemployment will continue to explode.
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Two parties arguing about the best way to crush the middle class. . .
Except, it’s not a real argument. It’s the pro wrestling version of combat. They are putting on an act for the public.
Obama: “O.K. John, I’ll propose large cuts. You demand gigantic cuts. Then we’ll compromise on huge cuts.” The fools will think I’ve won and you’re being reasonable.
Both are bought and paid for by the upper .1% and both will do as they are told, i.e. widen the gap between the rich and the rest.
Since both parties are criminal, I’m beginning to wonder — dare I say it — whether revolution will be the only path for this nation. I sure hope not, but there seems nowhere else to turn.
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If you thought that Bush’s call to go to Mar’s was crazy, and find Obama’s cuts to Social Security unacceptable, you will love this:
The budget for 2014 that President Obama will propose next Wednesday bears all the hallmarks of a man who no longer has to worry about winning an election. There’s something in there to piss off everyone — except people who love science! Space science.
RELATED: Forget Mars: There’s Water on Mercury!
You see, while the budget calls for tax increases and benefit cuts that should reduce the deficit by $1.8 trillion over the next 10 years, it also gives $100 million to NASA for what SPACE.com describes as:
An audacious program to drag an asteroid into orbit around the moon for research and exploration purposes.
That’s right — we’re going to lasso an asteroid. And that’s not all! According to Senator Bill Nelson (emphasis on the cool science stuff added): “The plan combines the science of mining an asteroid, along with developing ways to deflect one, along with providing a place to develop ways we can go to Mars.”
http://news.yahoo.com/obamas-budget-fund-asteroid-lassoing-030000036.html
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