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●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 ultimately 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.
I previously had added this to the Comments section of the previous post. But on second thought, with the government’s over-the-top pursuit of Edward Snowden (for the crime of revealing the government’s crimes), I thought it deserved its own post:
The following letter was reprinted in the 6/24/13 Chicago Tribune:
The war on terrorism cannot be won. There always will be people who hate the U.S. So every day, the government will “have to” create some new restriction on our freedoms, justified by the never-ending war.
Today, the government tracks your Emails.
Tomorrow, the government reads your Emails.
The next day, the government reads your snail mail.
The next day, the government censors your snail mail.
The next day, the government plants listening devices in your office.
The next day, the government plants listening devices in your home.
The next day, the government bans criticism.
The next day, the government bans all criticism and arrests accused critics
Where does it end?
Each step is justified by “national sercurity.” Each day, the populace approves it because, “I have nothing to hide.”
And that is how all dictatorships are built — step by step, with the acceptance of the populace.
–Rodger Malcolm Mitchell, Wilmette
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. Click here
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%
10 Steps to Economic Misery: (Click here:)
1. Maintain or increase the FICA tax..
2. Spread the myth Social Security, Medicare and the U.S. government are insolvent.
3. Cut federal employment in the military, post office, other federal agencies.
4. Broaden the income tax base so more lower income people will pay.
5. Cut financial assistance to the states.
6. Spread the myth federal taxes pay for federal spending.
7. Allow banks to trade for their own accounts; save them when their investments go sour.
8. Never prosecute any banker for criminal activity.
9. Nominate arch conservatives to the Supreme Court.
10. Reduce the federal deficit and debt
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:
1. Federal Deficits – Net Imports = Net Private Savings
2. Gross Domestic Product = Federal Spending + Private Investment and Consumption – Net Imports