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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.
Last March we published the post, “The Meaning of America,” which you might wish to read.
The word “meaning” was a pun. It not only stood for “definition” but also for “becoming cruel.”
I thought about that post today, when I read a short column in today’s Florida SunSentinel. The lead was:
“Florida ranks second among states with workers who have been unemployed for at least six months.”
It was followed by the question:
“What would help get Florida’s long-term unemployed back to work?”
At this point, one might have expected answers like, “Provide free job training and education” or “Improve the economy so that more good jobs are available, everywhere” or “Eliminate FICA, to make hiring less expensive to businesses” or “Provide federally funded Medicare for all, to lift the healthcare insurance burden off business.”
But, that is not what the people answered.
“REMOVING extended federal unemployment benefits. Is that soo hard to figure out????”
“There are jobs out there people have got to (sic) lazy. Sorry but it’s the truth.”
“I suspect giving them money will not work will not do it. call me silly. Gal at the dog park was unemployed for months and months. one week before here benefits were to expire she found a job. Duh.”
“I believe a person in order to receive unemployment checks should bring 20 statement letters of denial from 20 different companies every month to get a check.”
“Opening the classified ads and earnestly applying for and following up on job opportunities! Simple as that.”
In short, the people say the fault is not with the economy. The fault is not with the government. No, the fault is with those lazy, good-for-nothing unemployed. That is what the people have been brainwashed into believing.
In the same issue of the SunSentinel, there was a longer article that included these comments
Job-placement experts say the stigma of a lengthy layoff means job seekers have to work harder to catch the eye of an employer.
Mason Jackson, president of Broward County’s WorkforceOne, worries many people “just don’t know how to market themselves” or that their interview skills have faded “because they’ve always gotten jobs by who they know.”
Ed Patterson, of Lake County, has been without steady work for 20 months and is ready for almost any opportunity. A software specialist, he was in the banking industry, starting decades ago as a teller.
He worked his way up, ultimately making six figures, he said, before being laid off in July 2012. Today, he said, he’d go back to being a teller, “just to give me a little income.”
He’s 66 but can’t afford to retire. He’s been collecting Social Security and raiding his retirement fund to pay his bills. He sold his house — “just to get out from under it” — and lives in a rental. He’s frustrated by a job search that seems futile, saying many unemployed feel abandoned.
“I’m not out there alone,” Patterson said. “There’s a lot of people like me out there, and a lot of them have just given up.”
(Apparently, Ed is one of those “people have got to (sic) lazy.”)
You rightfully may object to basing conclusions on this small sample, but my sensing is that America has become meaner. We are the people who display proudly “Give me your tired, your poor . . .” at our front door; yet now we wish to punish those tired and poor.
We are the sons and daughters of immigrants, proud of America being a “melting pot”; yet now we wish to fortify our borders, and make the process for becoming a citizen arduous and lengthy.
We wrote into our Constitution, the 24th Amendment, prohibiting the revocation of poor people’s voting rights due to the non-payment of a poll tax; yet today, many of our states again pass laws trying to prohibit the same people from voting.
We are a people proud of taking the side of the underdog, proud of fighting against injustice, proud of America’s charities and good works. Yet now, an entire political party is devoted to meanness and selfishness. An entire party is devoted to kicking the downtrodden. And entire party is devoted to blaming the victim.
They couldn’t do it, if enough of mainstream America didn’t agree. So the question becomes: What is the source of this meanness? Why does it exist in our America and tarnish us as a nation?
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. Provide an Economic Bonus to every man, woman and child in America, and/or every state a per capita Economic Bonus. (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.