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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I thought I’d drop in on the Tea Party web site to see if they still exist. Not having heard any of their silly proposals lately, I was concerned for their survival.
If fear is necessary for bravery, sadness necessary for happiness, poverty necessary for affluence and losing necessary for winning, then stupidity is necessary for intelligence, which means the Tea Party is necessary for America.
And yes, they still are there, still stupid, and to prove it, still announcing their “15 Non-negotiable Core Beliefs” (with my comments appended):
1. Illegal aliens are here illegally. (It’s a tautology, but what does it mean? Shoot them? Arrest them? Deport them? Deny them and their children food, housing and medical care? Or is this just an open invitation to do to these people, anything we wish, so long as it’s really cruel?)
2. Pro-domestic employment is indispensable. (We are against unemployment and importing.)
3. A strong military is essential. (Except when it has to be cut because of budget cuts, in which case it isn’t essential.)
4. Special interests must be eliminated. (Except when the special interest is gun ownership or anti-immigration.)
5. Gun ownership is sacred. (The Bible is sacred. The Koran is sacred. Guns are sacred. They all are sacred.)
6. Government must be downsized. (Because government provides benefits to the poor and middle classes, which narrows the gap vs.the rich.)
7. The national budget must be balanced. (Combine this with the tax reductions of #10 and #11, and government spending will begin to disappear. Social Security, Medicare, poverty aid, food and drug inspections, interstate highways, the military, disaster assistance, the FBI, the CIA, the Supreme Court, Congress, the President, the courts, education, science and research & development are for wimps. We are self-sufficient macho men. Anarchy is nice.)
8. Deficit spending must end. (What? You say this is identical with #7? Gee, our bad. Anyway, we sort of ran out of ideas, and we needed fifteen “core beliefs.”)
9. Bailout and stimulus plans are illegal. (We have no idea what a “stimulus plan” is. But, we want the recession to go on, forever. It’s good for the rich.)
10. Reducing personal income taxes is a must. (Hey, see, we have a good idea!)
11. Reducing business income taxes is mandatory. (Hey, another good idea. But, what is the difference between “a must” and “mandatory”? Just askin’.)
12. Political offices must be available to average citizens. (We don’t know what “available” and “average” mean in this context, but it sounds so patriotic, we couldn’t resist.)
13. Intrusive government must be stopped. (Yes, we know every law is “intrusive” to a law breaker, but what we really mean is “intrusive in our sole opinion” — like forcing people to stop shooting each other. Way too intrusive.)
14. English as our core language is required. (Except for grandma — my grandma, that is. Your grandma better learn real fast, or else! Of course, no one can learn English, because we won’t allow our schools to teach English. Gotcha!)
15. Traditional family values are encouraged. (My traditions, that is. I really don’t give a damn about your traditions.)
With Jerry Lewis long retired, and Jay Leno about to go off the air, I was afraid we would be left with only Michele (“Be submissive wives”) Bachmann and John (“The government is broke”) Boehner for our daily helping of nuttiness.
Thankfully, the Tea Party and Justice Scalia remain with us.
Rodger Malcolm Mitchell
Monetary Sovereignty
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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 
I was looking at the same Tea Party site just yesterday and thinking how much their Non-Negotiable Core Beliefs reminded me of the Keystone Kops.
A Tea Party acquaintance of mine put things this way:
“At the top of the food chain it’s about power retention. The bottom feeders just want free stuff and don’t care about the future, future generations, or where/how they get the free stuff. They have been programmed. All the Liberals have to do is turn on the music on the ice cream truck and they come running with a voucher in hand.”
I guess in the Tea Party view it’s all about eliminating the “bottom feeders”.
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Your acquaintance is a self-sufficiency blowhard.
When he gets sick, retires or loses his job, he will come running to the Medicare, Social Security and unemployment insurance ice cream trucks, just like all the rest of us bottom feeders.
Meanwhile, gotta love those big mouth phonies, who clearly have zero knowledge of Monetary Sovereignty, but have strong opinions about it.
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People are always concerned that someone might get something they didnt get. There is always an unfortunate person worst off than you, instead of giving everyone a fair chance at getting ahead, people are too preoccupied with assuring those beneath them stay there. I wonder if the worry is the gaming of society,or the reduction in those worst off to criticize and implore. Maybe it is as simple as wanting suffering, for many reasons, like a need for redemption to justify religiosity.
Question?Whats up with the debt ceiling propaganda ,the IMF is again assailing the inability of its smooth rising will cripple the global economy?
Do they mean that potential resulting austerity imposed to prevent a break in the limit will cause stress on economic conditions,or that the actual spending from government deficits, encouraging economic stimulus ,will result in problems?
Why doesnt anyone confront Treasury sec.Lew’s assertion to congress that the US might run into trouble accessing debt markets if it defaulted on its financial obligations- even if able to keep payments on bonds. Also quite amusing to hear his spin regarding the may 19 expiration date and the emergency cash management measures available to push the day of reckoning up, plus possible strong tax revenues and payments to treasury from Fannie & Freddy. Why doesnt he just explain that all payments just come out of a general fund, and whatever is lacking can easily be recapitalized, since this country is monetarily sovereign, and the currency is a vehicle for public purpose. If nobody wants to park their federal reserve notes in interest bearing savings accounts , than the treasury can just swap some bonds it prints for some federal reserve digital notes, any profits from the interest created would get returned later to the treasury so as to not unfairly compensate any private banks on the Feds board. Not borrowed from private banks associated with the federal reserve with interest, that must be paid back by tax revenues, with deficits being further financed by more borrowing with interest from private banks, foreign governments, insurance companies, corporations, and citizens. Eventually causing interest rates to fly from fear of inability to pay
Still have to admit if we did way with the charade of bond selling in open market operations with special primary banks.and just spent the money into circulation through congressional appropriations, it would be so much easier to comprehend.
Our public and private debt problems are separate issues. Publicly there is none, privately the middle class is inundated. Wages havent gone up relative to production or profits in 40 years, the small group of executives and large shareholders reaped all the profits, in the process buying the political structure and hobbling the labor unions, while providing all kinds of ingenious ways for the middle class to continue consuming with decreased real wages, by either working harder and longer, or borrowing. The finance industry sprung up all around the private debt sector offering wealthy corporate elites hedges on the risky high interest rates they demanded for overly leveraged goods and services. When the musical chair game ended, the corrupt politicians gave their supporters in the finance industry mulligans for their bad bets, and made sure the good ones were adequately capitalized to return the wins, so they made out on both sides. The same rich circles were also shareholders in banks and insurance companies. Than the charade began about letting the banks fail. Very confusing trying to figure out the worst crooks. Obviously Obama protected his banking supporters, but what about all those right wingers who wanted the banks to fail, were they acting, or stupid and clueless regarding their investments? I would think they are very happy Obama and Bernanke saved the day. Easy loans, low interest rates to re inflate their equities, while cleaning up balance sheets for their corporate books. THe middle class got moral hazard lectures and obnoxious banks fraudulently foreclosing.
And the ultimate spit in the face, austerity, after trillions spent propping banks and funding wars. The US will go bankrupt providing basic social services and safety nets for the unfortunate,. Regardless of the few who might game the system, how can the majority of America be so blind as to not see the bullshit. After 40 years of corporate malfeasance regarding wage suppression, with profits all going to executive and shareholder spoils, technological breakthroughs that were supposed to make work more amiable and profitable but failed, rising prices, and limited opportunities offered because of globalism, we must decrease the governments funding of safety nets and privatize as much public utility and service as possible in order to prevent deficit spending that will bankrupt our wonderful capitalist government. Lets not forget, make education financially non viable for most, being jobs offered will never make a dent in the borrowing costs incurred. That was just another perk for the banks, who probably are invested in many of the for profit schools sprung up in the past decade, that teach wonderful subjects like fitness and theology.
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The Tea Fartists are among the most offensive political groups to emerge in recent times. One would think that a movement based on the celebration of ignorance would go nowhere but such is not the case in the good old USA. Their big rally in Washington in 2010, hosted by Glenn Beck no less, was truly odious. Nothing like Ma and Pa America, already living off Social Security and Medicare, showing up en masse to agitate for destruction of their means of survival.
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Need I say more?
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