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 the definitive, right-wing solution to poverty and health care. (You decide whether this video is howlingly hilarious or truly sad.):
The real solution — the only solution — is federally funded, free, comprehensive, no deductions Medicare for every man, woman and child in America.
Why don’t we have it? Because the upper 1% income/power group doesn’t want us to have it. They want us to believe that if the government pays for it:
1. The government will run out of dollars. You and I won’t.
2. We’ll have a Weimar, Zimbabwe, Argentina hyper-inflation (which we never have had in almost 240 years of wars, depressions, recessions, plagues and right-wing politicians).
3. Our grandchildren will have to pay the federal debt (rather than paying for our health care).
4. Health care will be worse, because the government is not as wise, generous or compassionate as the rich insurance companies, which are famous for their wisdom, generosity and compassion.
5. Poor people are “lazy” (per Paul Ryan) and are takers looking for a free lunch, and if you’re poor, stop being poor.
Who could argue with such facts?
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
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.
#MONETARY SOVEREIGNTY
#Monetary Sovereignty - Mitchell 
Medicare and the guaranteed basic income for everyone.
LikeLike
And also federally-funded college and vocational tuition including a salary stipend for everyone. Why stop at K through 12? – That doesn’t make any sense at all. Higher education is so important today – this plan would also help get rid of poverty as well.
LikeLike
Yes. See #5 in the 9 Steps to Prosperity (at the end of the post.)
LikeLike
@RMM: Question about article:
See:
http://www.nationalreview.com/article/373942/deflating-russia-can-be-done-larry-kudlow
“Russia holds $132 billion of U.S. Treasury securities. That’s a big number, and it could be sold in the event of financial warfare. That won’t kill the United States. But it will undoubtedly cause interest rates to rise.”
Could selling U.S. bonds like this cause interest rates to rise? I thought the Fed sets the funds rate upon which all other interest rates along the duration curve are based? Is the article just accurate for longer term interest rates, but really no effect on short term interest rates? What problems, if any, could this selling cause?
LikeLike
Your question has some complexities to it.
Russia’s sale of Treasuries would have to be to other nations or individuals (not to the U.S.), so there would be no change in the outstanding total of T-security deposits.
But to sell Treasuries, Russia would have to offer them at a slight discount. Otherwise, buyers could simply get them from the U.S.
Putting a large amount of Treasuries on the market at a discount, would be like a “reverse” Quantitative Easing. The price of Treasuries would decline, which would increase interest rates, by a very, small fraction.
The U.S. easily could respond with a large QE (Fed purchase of Treasuries) in any amount it chose, which could offset anything the Russians did.
Remember: The U.S. is Monetarily Sovereign. It is the God of the dollar. It can set interest rates on that dollar at any level it wishes.
So, the sky is not falling, cannot fall and will not fall.
This brings us to the question: “Why would Russia want to sell its T-securities?” It owns exactly as many T-securities as it wants, neither more nor less. So would Russia cut its nose to spite the U.S.? Doubtful
Bottom line, Kudlow is correct that IF the West maintains a unified front, Russia will cave, even if it receives support from China.
Notice that’s a huge IF, because Europeans are not noted for being unified in anything except beating up on the poor.
LikeLike
It seems that any economic sanctions by Russia would mostly harm themselves. Russia is still essentially a third world country, although with nuclear weapons, and failing badly demographically and economically. I remember reading that the conventional Russian military is an empty shell compared to when they were the USSR.
LikeLike
“…Higher education is so important today – this plan would also help get rid of poverty as well…”
Funding all expenses paid, lifelong education would kill at least two birds with one stone–1) provide a skill for possible employment, 2) take pressure off having to make a living (commit crime) or pay back a huge tuition loan.
LikeLike
The government will run out of dollars..”
Except of course if we need to go to war or prepare for war then we have all the money we need. Love that legalized murder!
LikeLike
@ tetrahedron720: That’s why we have the “national debt” bogeyman.
When a person claims that the US government is about to run out of dollars, and you ask him why there is infinite money for wars, and for Wall Street bailouts, and so on, he responds, “That money was all borrowed from China.”
LikeLike