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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.
Readers of this blog have read these three truths:
1. The super rich care more about the income/wealth gap between them and the rest of us, than they do about their absolute income. It is the gap that makes them rich. Without the gap, no one would be rich, and the greater the gap, the richer they are.
2. To widen the gap, the rich bribe the politicians (via campaign contributions and promises of lucrative employment later), the media (via media ownership) and the university economists (via contributions to the university and direct payment to professors for economic research).
3. Deficit reduction, aka “austerity,” has a far greater negative impact on the middle- and lower-income American than it does on the rich. The vast majority of federal spending benefits the “99%,” so spending cuts widen the gap. Repeated efforts to “broaden the tax base” (i.e. make the poor pay more) and increased FICA, also widen the gap, which is why the rich bribe the politicians, the media and the university economists to brainwash Americans into believing the deficit and debt are too large (The Big Lie).
We expect politicians to be bribed. They have made it legal, and the Supreme Court has actively encouraged bribery (via the Citizens United decision) and is expected to reinforce its encouragement of bribery (via McCutcheon v. Federal Election Commission).
We know the media are owned by the rich, and media writers, more now than ever, respond to their bosses’ desires. (Hello, FOX News) To keep their jobs and receive promotions, they tell Americans the same Big Lie.
But what of the university economists? Surely the world of academia, the world of honest economic research, has far more integrity than do politicians and the media. Right?
Tampa Bay Times
Billionaire’s role in hiring decisions at Florida State University raises questions.
Kris Hundley, Kris Hundley, Times Staff Writer
A conservative billionaire who opposes government meddling in business has bought a rare commodity: the right to interfere in faculty hiring at a publicly funded university.
A foundation bankrolled by Libertarian businessman Charles G. Koch has pledged $1.5 million for positions in Florida State University’s economics department. In return, his representatives get to screen and sign off on any hires for a new program promoting “political economy and free enterprise.”
For a lousy $1.5 million, chump change to a guy like Koch, Florida State University sold its soul.
An advisory committee appointed by Koch decides which candidates should be considered. The foundation can also withdraw its funding if it’s not happy with the faculty’s choice or if the hires don’t meet “objectives” set by Koch during annual evaluations.
During the first round of hiring in 2009, Koch rejected nearly 60 percent of the faculty’s suggestions but ultimately agreed on two candidates.
Apparently, the faculty at FSU is so stupid, 60% of their hiring recommendations were not qualified, and had to be rejected by that noted academic, Charles G. Koch.
David W. Rasmussen, dean of the College of Social Sciences, defended the deal, saying hiring the two new assistant professors allows him to offer eight additional courses a year. “I’m sure some faculty will say this is not exactly consistent with their view of academic freedom, but it seems to me it would have been irresponsible not to do it.”
Not “exactly” academic freedom? Not “exactly”? That’s like saying Bernie Madoff was not “exactly” honest. Dean Rasmussen seems to feel that money is more important than academic honesty. How did this guy make Dean?
The foundation partnering with FSU is one of several non-profits funded by Charles Koch and his brother David. The aim: To advance their belief, through think tanks, political organizations and academia, that government taxes and regulations impinge on prosperity.
Bruce Benson, chairman of FSU’s economics department, said “The Kochs find, as I do, that a lot of regulation is actually detrimental and they’re convinced markets work relatively well when left alone.”
Yes, of course regulations are detrimental to crooks, charletans and especially to the rich crooks who caused the Great Recession. Regulations that protect the 99% are especially inconvenient, aren’t they Chairman Benson?
What a wonderful economics department he runs. What a sad disgrace.
Charles Koch cofounded the Cato Institute. David started the Americans for Prosperity Foundation, which has worked closely with the tea party movement. George Mason University has received more than $30 million from Koch over the past 20 years. At George Mason, Koch’s foundation has underwritten the Mercatus Center
In addition to FSU, Koch has made similar arrangements at Clemson University in South Carolina and West Virginia University.
The above tells you all you need to know about Cato, Americans for Prosperity, Mercatus Center and the tea party. And I truly pity the parents of students at FSU, Clemson University, George Mason University and West Virginia University, who spend good money to have propaganda pumped into their children’s malleable brains.
With the Big Lie coming from all sides — from the bribed politicians, the bribed media and even the bribed university economists — who can blame the people for believing total nonsense?
And how is this for irony?
Said Rasmussen, “I have no objections to people who want to help us fund excellence at our university. I’m happy to do it.”
Academic integrity? Who needs it? There’s money to be made.
Rodger Malcolm Mitchell
Nine Steps to Prosperity:
1. Eliminate FICA (Click here)
2. Federally funded Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Send every American citizen an annual check for $5,000 or give every state $5,000 per capita (Click here)
4. Free education (including post-grad) for everyone. Click here
5. Salary for attending school (Click here)
6. Eliminate corporate taxes (Click here)
7. Increase the standard income tax deduction annually
8. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)
9. Federal ownership of all banks (Click here)
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
THE RECESSION CLOCK
As the federal deficit growth lines drop, we approach recession, which will be cured only when the lines rise.