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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.
To try to sense how the “man-in-the-street” thinks, I read and comment on various blogs — conservative, liberal and somewhere in between.
The conservative blogs, of late, have been taken over by crazies, and that is a shame. There is a great need for sane discussion from sane perspectives, but when sanity disappears and one side presents absurd arguments, the discussion disintegrates.
I’m not sure where the craziness began. Was it with Sarah Palin? Michele Bachmann? Newt Gingrich? The Tea Party? A good case could be made for any of them. Surely, it was well established by the time Herman Cain and Ted Cruz came to the spotlight.
If you still harbor any doubts that the once proud Republican party is in the hands of the crazies, I offer these examples:
“A pattern has emerged that reveals that states with the highest rates of uninsured residents are among the least likely to expand Medicaid and to establish state-based exchanges,” Gallup’s Dan Witters noted in the report.
Study: States That Refused Medicaid Expansion Will Lose Billions
By Ben Feuerherd
The Affordable Care Act states that the federal government is responsible for paying 100 percent of the cost of expanding Medicaid for the first three years. After that, the federal government covers 90 percent of the cost.
Accepting the expansion is a common-sense economic move by states, according to the study’s authors. They write:
States that choose to participate in the Medicaid expansion will gain considerable new federal funds. States often seek to increase their share of federal funds, lobbying for military bases, procurement contracts, and highway funds. Federal funding provides direct benefits and bolsters local economies.
As the Washington Post notes, Texas will miss out on the most federal funding [$9.2 billion], but all states who refused the expansion will lose funds offered by the federal government. Louisiana, Oklahoma and Wisconsin will pass up more than $1 billion, while bigger states like Georgia, Missouri, North Carolina and Virginia will miss out on more than $2 billion in federal funds.
It’s terrible enough for a state’s governor intentionally to throw away billions, but to do it while denying healthcare to its poorest citizens is beyond unconscionable.
And then, there’s this:
Unprecedented Attack On Evolution ‘Indoctrination’ Mounted In Missouri
DYLAN SCOTT – FEBRUARY 14, 2014
A Missouri lawmaker has proposed what ranks among the most anti-evolution legislation in recent years, which would require schools to notify parents if “the theory of evolution by natural selection” was being taught at their child’s school and give them the opportunity to opt out of the class.
State Rep. Rick Brattin (R), who sponsored the bill, told a local TV station last week that teaching only evolution in school was “indoctrination.”
“It’s an absolute infringement on people’s beliefs,” Brattin told the Kansas City Star. “What’s being taught is just as much faith and, you know, just as much pulled out of the air as, say, any religion.”
Finally, if you enjoy reading about crazies, here’s a whole pack of them, for your amusement:
Yes, politicians, the media and the mainstream economists have been bribed by the upper 1%, to widen the gap between the rich and the rest. And the conservatives are more extreme in their desire to suck up to the rich than are the liberals (especially since there are almost no liberals left in government).
But the degree of right-wing craziness seems grown to a remarkable degree, often having nothing to do with economics or with anything else in human experience.
And I don’t know why.
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.