●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.
Here is why Social Security, Medicare, Medicaid and aids to the poor will be cut, and the gap between the rich and the rest will be widened.
Boeing, billionaire Penny Pritzker among Obama’s donors
By Katherine Skiba, Tribune reporter, April 24, 2013
Illinois donors to President Barack Obama’s second inauguration included aviation giant Boeing Co., which contributed $1 million, and billionaire Penny Pritzker, who gave $250,000, according to newly filed records.
Pritzker, who is being vetted by the White House as a candidate for commerce secretary, gave $250,000 personally to the Presidential Inaugural Committee.
For those not familiar with Chicago, the Pritzkers are Chicago’s most powerful family. Few big projects are completed here without their involvement.
Some observers consider Millennium Park to be the city’s most important project since the World’s Columbian Exposition of 1893. The centerpiece of Millennium Park is the Jay Pritzker Pavilion
In February 1999, the city announced it was negotiating with Frank Gehry to design a proscenium arch and orchestra enclosure for a bandshell, as well as a pedestrian bridge crossing Columbus Drive, and that it was seeking donors to cover his work. At the time, the Chicago Tribune dubbed Gehry “the hottest architect in the universe”
His hesitance and refusal to accept the commission was overcome by Cindy Pritzker, the philanthropist, who had developed a relationship with the architect when he won the Pritzker Prize in 1991. According to John H. Bryan, who led fund-raising for the park, Pritzker enticed Gehry in face-to-face discussions, using a $15 million funding commitment toward the bandshell’s creation.
This, from the Chicago Tribune:
10 LARGEST CORPORATE DONORS TO OBAMA’S SECOND INAUGURATION COMMITTEE
AT&T: $4.6 million
Microsoft: $2.1 million
Boeing: $1 million
Chevron: $1 million
Genentech, Inc.: $750 thousand
Deloitte LLP: $500 thousand
FedEx: $500 thousand
Hargrove Inc.: $500 thousand
Coca-Cola: $430 thousand
Bank of America: $300 thousand
Ask yourself three questions:
1. Why have wealthy business leaders committed so much money to President Obama’s committee?
2. How is Obama saying, “Thank you” to these wealthy business leaders?
3. Later, how will these wealthy business leaders say, “Thank you,” for Obama’s “Thank you”?
In the Washington spirit of one hand washing the other, Obama will widen the gap between the rich and the rest, and later, the rich will pay for his Obama library (in Chicago, spearheaded by the Pritzkers) and hire him and his family for all sorts of lucrative jobs, speeches, advisories, etc.
Pritzker still in line for Commerce post
Reuters, April 26, 2013
Pritzker, the 271st richest American according to Forbes magazine, was Obama’s national finance chair in 2008 and his campaign co-chair in 2012. Her personal fortune is worth an estimated $1.85 billion, putting her at the pinnacle of the top 1 percent of American households.
After a long vetting process, Pritzker remains in the running for the Commerce post.
Obama has been, and continues to be, bribed to widen the gap, and if anything, Obama is an appreciative man. And that is why Social Security, Medicare, Medicaid and aids to the poor will be cut, and the gap will be widened.
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