–A truly hilarious article that also makes a point.

Twitter: @rodgermitchell; Search #monetarysovereignty
Facebook: Rodger Malcolm Mitchell

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.


Here is a truly hilarious article from the Florida Sun Sentinel.

Disney again pushes ticket-fraud law
By Jim Stratton

Walt Disney World is trying again this year to toughen the state’s ticket fraud laws, this time with the help of the lawmaker who killed the proposal last year.

State Senator Tom Lee, a Republican from Brandon, who initially objected to the bill, said his change of heart had nothing to do with a $10,000 donation from Disney to his political-action committee.

As the saying goes, you just can’t make this stuff up.

Rodger Malcolm Mitchell
Monetary Sovereignty

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

Monetary Sovereignty Monetary Sovereignty

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.


5 thoughts on “–A truly hilarious article that also makes a point.

  1. —- Off topic —-


    The MMT people at the NEP blog will never get a wider audience if they don’t improve their communication.

    For example, it is obvious that austerity continues, since the federal deficit fell from $1.1 trillion in FY 2012 to $680 billion in FY 2013. That’s the sharpest drop in any single fiscal year since the end of World War II. The federal deficit will drop even further in FY 2014, and further still in FY 2015. This is according to the US Treasury, not the infamous CBO.

    Deficit reduction is austerity.


    So why does it take a 1,400 word post at the NEP blog to say the same thing, and in techno-babble that puts people to sleep?

    Why, in short, are NEP blog posts written so BADLY? Is it a product of poor writing skills? Or is it intentional? I say it’s the latter, and that it comes from a desire to seem “scholarly,” which is a kind of smugness. The same smugness that makes NEP blog people claim that there is “no proof” that the 1% pay pundits, professors, and politicians to promote austerity and the Big Lie.


    Of course, this NEP garbage isn’t limited to the USA. One British critic of austerity is Oxford University Professor of economics, Simon Wren-Lewis, who admits that austerity is driven by ideology, not logic. However Mr. Wren-Lewis also says that austerity arises from erroneous beliefs, and not from greed. (!!!!!) He says that austerity policies are bad, but the people driving them are not. (!!!!) That’s not just denial, folks. It’s academic smugness.

    Or maybe it’s just politics. If Mr. Wren-Lewis told the truth plainly and honestly, he would probably be fired.



    The Financial Times, headquartered in London, is notoriously pro-austerity (i.e. pro-inequality).

    The Slimes now claims that the British government “Is facing a £20 billion black hole in the government finances, which means austerity may have to continue until 2020.”

    Actually David Cameron wants to make austerity permanent. As in, forever. His Treasurer, George Osborne, is already committed to imposing £25bn in spending reductions, including £12bn in welfare cuts. Osborne wants to have a federal surplus during the next parliament. Cameron and Osborne say that for the Monetarily Sovereign UK government, there is “No magic money tree.” (A blatant lie.)

    In a fit of Orwellian double-speak, the Financial Slimes says that this (fictitious) “£20 billion black hole” is a “blow” to Osborne, since Osborne wanted to end austerity. (!!!)

    The source of this b.s. £20 billion claim is the Office for Budget Responsibility, a small private group that continually pushes for more austerity. A Washington DC equivalent would be (for example) the Pete Peterson’s Committee for a Responsible Federal Budget.

    All of these ultra-right-wing propaganda mills call themselves “Non-partisan think tanks.”



    1. Yep I read that NEP blog. I also read the whole of Wray’s 52 weeks of postings to become familiar with MMT. And that’s only for starters. You can go on to advanced stuff if you want. The only reason I didn’t fall asleep was due to motivation; I really was curious about the mechanics so I hung in there. I doubt very, very much John Q Public is so motivated.

      Therefore, and ironically, the .01% may take some comfort in this academic approach. Unless you’re motivated, you’ll remain in their grip, talking and thinking as they no doubt wish.


      1. The MMT folks believe ignorance is the problem, so they keep writing articles that provide abstruse proofs.

        But the public is not interested. The bribed politicians are not interested. The rich-owned media are not interested. And the rich-owned university economists are not interested.

        So what can change things? For some reason, as yet unknown, a very influential person — perhaps a President or a famous billionaire like Bill Gates or Warren Buffet — will state the facts.

        At that point, all the past work of MMT and Monetary Sovereignty suddenly will provide backup, and the populace will understand.

        After that, the politicians, media and economists will claim they not only knew it all the time, but actually have been saying it.


    2. Have you made an effort to expand your horizons then? To this point it seems to me not to be the case? Am I mistaken? Are you aware of the real issues, problems, with MMT’s positions? If you criticize you should be able to answer? If not would you like some direction?


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