Twitter: @rodgermitchell; Search #monetarysovereignty
Facebook: Rodger Malcolm Mitchell
●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.
Repeatedly, you’ve been told about The Big Lie — how the ultra-rich want you to believe the federal government is running short of dollars, the purpose being to reduce benefits to the not-ultra-rich. Well here’s an example:
New York Times
Older Pool of Health Care Enrollees Stirs Fears on Costs
By MICHAEL D. SHEAR and ROBERT PEAR, JAN. 13, 2014
WASHINGTON — People signing up for health insurance through the Affordable Care Act’s federal and state marketplaces tend to be older and potentially less healthy, a demographic mix that could threaten the law’s economic underpinnings and cause premiums to rise in the future if the pattern persists.
Questions about the law’s financial viability are likely to become the next line of attack from Republicans (who) quickly seized on the government’s progress report as evidence that the health insurance law would not work.
But administration officials expressed optimism that more young people would sign up in the months ahead, calling the latest enrollment numbers “solid, solid news” for the health care law.
If the ACA was being underwritten by a private (monetarily non-sovereign) company, the above paragraphs would make sense. After all, private insurance depends on those most likely to need payments being supported by those less likely to need payments.
That’s how insurance companies make money. They avoid what’s called “adverse selection.”
And that is why, for instance, life insurance is cheaper for young people than it is for old people.
But ACA is not underwritten by private, for-profit companies. It is underwritten by the federal government — the Monetarily Sovereign federal government — which never, never, ever can run short of dollars.
So the New York Times article is 100% choreographed bullshit.
It is choreographed by the rich to make the rest believe the government can be unable to afford ACA as it stands, so benefits must be reduced and/or taxes on the middle must be increased. That is The Big Lie.
It’s exactly the same Big Lie that claims Social Security will run out of money, so benefits must be reduced and/or taxes increased. It is the same Big Lie that claims the federal deficit and debt must be reduced, because they are “unsustainable.”
Brendan Buck, a spokesman for the House speaker, John A. Boehner, predicted that the White House would fail to meet its goals and said that insurance premiums would rise.
This is the same Republican John Boehner, who famously lied, “Let’s be hones. We’re broke.”
Oh, sure. Boehner wanting to be honest. That’s a howler. The U.S. federal government, which has the unlimited ability to create dollars, somehow is “broke.” What a load of malarkey.
But insurance premiums probably will rise, at the behest of the ultra-rich, even though premiums could be, and should be, zero.
Of people choosing plans so far, 60 percent selected silver plans and 20 percent signed up for bronze plans. Thirteen percent chose gold plans, and 7 percent platinum coverage.
Translation: Because the federal government unnecessarily charges for ACA, the average person cannot afford the best coverage. That is reserved for Congress, the President, and other powerful liars.
Meanwhile, the innocent public, which does not understand the difference between Monetary Sovereignty (has the unlimited ability to create its sovereign currency) and monetary non-sovereignty (has no sovereign currency), will buy into the Big Lie, and accept paying higher, ever higher, premiums for reduced benefits.
And the gap, between the rich and the not-rich, continues to grow, while Obama and both parties shed crocodile tears about the disappearing middle class.
Time to wake up, suckers!
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) Or institute a reverse income tax.
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. Federal deficit growth is absolutely, positively necessary for economic growth. Period.
One thought on “–The Big Lie, choreographed and demonstrated”
The ACA is an example of privatization. The government enforces payment (i.e. acts as a collection agency) while insurance executives pocket the loot and avoid their contractual obligations. Because of the Big Lie, the ACA will be increasingly declared “unsustainable.” Hence its coverage will increasingly shrink, and its mandatory premiums will increasingly grow.
Next, the ACA will be expanded to Medicare. Then Social Security will be privatized. The FICA tax will remain, but billions in revenue will go to Wall Street, whose executives will steal the loot via regularly engineered “crashes.” The FICA tax will double and triple, while retirement benefits shrink to almost nothing.
That’s the “free market” in action.
–Off topic – Off topic –
WORKERS DESERVE FREEDUMB!
Until the 1930s it was common for workers in the industrialized world (including children) to toil for 12 to 14 hours a day, seven days a week. In some places workers were given Sunday off, so they could attend church and be told that their slavery was “God’s will.” According to the priests, the savage violence of poverty was okay, but any questioning of this violence, and of inequality, was “sinful.”
In time the suffering of workers became so extreme that they could no longer be brainwashed. They marched in the streets, demanding a workweek that was eight hours a day, five days a week. This was known as the “eight-hour day movement” or “40-hour week movement,” or “short-time movement.”
There were strikes and bombings. There was severe repression by tycoons. In Ludlow Colorado, the National Guard machine-gunned striking miners, and then burned their tents, killing 25 people, including two women and eleven children (20 April 1914).
Finally the US government passed the Fair Labor Standards Act of 1938, which forbade child labor, established a maximum 44-hour seven-day workweek, and established a national minimum wage with “time-and-a-half” for overtime. By 1946, federal employees were given a 40-hour workweek. Eventually this spread to the rest of the labor force.
For 100 years or more, workers had fought and died to get a 40-hour workweek.
Now, in the Era of Austerity (aka the “Golden Age of Deficit Reduction”) the rich and their toadies want to roll everything back, so that workers once again toil 12 to 14 hours a day, seven days a week, with no increase in their weekly pay.
For example, Sen. Glenn Grothman (R – Wisc) is demanding the elimination of child labor laws. He wants to amend state law to offer workers a “voluntary” seven-day work week. This will quickly become universal and mandatory, since employers will fire anyone who does not “volunteer.” Grothman calls this a matter of “freedom” (for the rich to exploit the rest).
One wonders why a law is needed if a seven-day workweek is “voluntary.” Also, note that right-wing Christians support this, even though their God commands that workers rest on the seventh day. (Right-wing Christians seethe with hatred.)
Current Wisconsin law requires employers to give workers at least 24 hours off every seven days. Grothman calls this law “goofy.” He represents the Wisconsin Manufacturers and Commerce, the state’s largest organization of business tycoons.
Unfortunately the people who need worker protection the most cannot afford their own Republican senator to protect their interests.
Wisconsin and Kansas were once hotbeds of populist sentiment. Now their local politicians are ULTRA right-wing. The Federal Reserve Bank of Philadelphia has ranked Wisconsin 49th in its 50-state Leading Index report. It says that since Governor Scott Walker (Republican) took office on 3 Jan 2011, Wisconsin has fallen from 11th to 44th in job creation. (Only Dick Cheney’s state of Wyoming is lower.) Wisconsin’s wages are also declining at twice the national level. Because of this, and because Governor Walker keeps giving tax breaks to rich people and corporations, Wisconsin’s state deficit has doubled since Walker became the governor. (State deficits are a problem, unlike federal deficits.)
All this makes Scott Walker a “patriot,” and an ideal Republican candidate for the US presidency in 2016. Perhaps his running mate will be Wisconsin Republican Paul Ryan.
Every time you see an average reader smugly reject the facts of Monetary Sovereignty, you can be sure that the moron is full of hate, and is contributing to the nightmare of inequality and worker oppression.
Greed. Hate. Selfishness. Self-righteousness. The deeper and wider they spread, the more we have poverty and inequality. This is how the 1% control the 99%.