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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 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.

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Greece has developed a remarkable method for saving its economy: Fire as many people as possible.

Financial Times
Greece agrees deal to reform civil service
By Quentin Peel, FT.com, July 18, 2013

The Greek parliament has approved controversial reforms of the civil service and tax administration, opening the way for mass dismissals of state employees in return for a €6.8bn aid disbursement by international lenders.

As you surely should have learned by now, “reform” is the upper income group’s euphemism for “widen the income gap by screwing the middle- and lower-income classes.”

One Pasok legislator broke ranks, voting against the axing of the 3,500-strong municipal police force.

Now there’s 3,500 more unemployed, wandering the streets, struggling to find food, by hook or by crook. Hey, who needs police?

Teachers at vocational training institutes, school guards and municipal police officers will be transferred to a special “mobility reserve” on reduced pay and given eight months to find another job in the public sector or face dismissal.

Finding another job should be no problem in Greece. Right?

The governing coalition is committed to sacking 15,000 civil servants by the end of 2014 under the bailout terms.

Yannis Stournaras, the finance minister, agreed to suspend payment of €80m in compensation for 2,600 workers who were sacked at the state broadcaster ERT last month.

Sack ’em and cut their pay. Make ’em starve. Force ’em to beg. We, the upper crust, will show ’em who’s boss.

“We can’t accept this level of payouts when we have cut the pensions of farmers [who receive the lowest state pension],” said Makis Voridis, a rightwing legislator.

Our solution to the unfairness of cutting farmers’ pensions is to cut everyone else’s pensions, too. That’s fair.

By increasing its unemployment, Greece guarantees a deepening of its depression, which shortly will require more firings, greater unemployment, deeper depression and more suffering for the lower income classes and by what’s left of the middle classes.

Thus, the gap between the rich (who will not be affected) and the rest, will grow. The Greek poor will have to beg the Greek rich for alms, which is exactly what the rich want.

Message to the Greek people: My heart goes out to you. You have been conned by your political leaders (who are bribed by the rich), into believing austerity will grow your economy.

Message to my fellow Americans: Our government is perpetrating exactly the same austerity and the results will be exactly the same: Recession and depression.

It’s what austerity always brings.

But, I suppose if we are dizzy enough to elect politicians who tell us we can grow our economy with federal spending cuts and austerity, we deserve our fate.

Get your alms bowls ready, citizens. A- begging we will go.

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. 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

#MONETARY SOVEREIGNTY