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, and the motive is the gap.
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I ran across an article that indicates investors are not of the human species, or any other living species. The article appropriately is titled:
Burning fossil fuels creates CO2 and other pollutants. Science tells us these pollutants add to global warming and to illnesses, both of which will negatively effect human life.
But, as the headline indicates, fixing these problems would “ruin investors.” Therefore, not fixing these problems would benefit investors, so investors must not be of the human species. Q.E.D.
The article goes on to say:
Opinion: humanity is making risky climate bets and ExxonMobil may be proved right
ExxonMobil says it does not envisage a low-carbon scenario of the kind many climate researchers advocate. The company believes the costs this would entail, and “the damaging impact to accessible, reliable and affordable energy resulting from the policy changes . . . are beyond those that societies, especially the world’s poorest and most vulnerable, would be willing to bear”.
The article speculates about how much fossil fuel exists and how much will be burned, and what this means to investors. It’s a relatively dispassionate discussion about the speed at which humans will commit suicide, and how this will affect investment. You should read it.
The energy companies seem to have given up on their previous propaganda, that pollution is not suicidal, but rather now focus on how much it will cost not to commit suicide. They are betting that most nations’ leaders and their citizens will opt for species self-destruction, rather than suffering short-term economic cost.
The article warns investors that betting on the reduction in exploration for, and burning of, fossil fuels, may result in monetary losses. If you are an investor, and you predict that we people will stop killing ourselves, you may lose money.
As H.L. Mencken said, “No one in this world, so far as I know — and I have searched the records for years, and employed agents to help me — has ever lost money by underestimating the intelligence of the great masses of the plain people.
The explanation ExxonMobil gives for its optimism about demand for fossil fuels is the rising world demand for energy and the inertia in the global energy system.
Translation: We at ExxonMobil know it’s killing the human species (along with many other species), but we also know you’re addicted to fossil fuels — sort of like heroin and cigarettes — so you’ll just keep on shooting and puffing. And we’ll keep on supplying.
Governments have committed themselves to a view of the risks of climate change. That view implies a rapid revolution in the energy mix and correspondingly rapid reductions in emissions of greenhouse gases.
But major energy producers do not believe governments will do what they promise. They envisage a very different and quite unrevolutionary energy future in which the reserves they now possess and those they plan to develop will all be burnt.
Translation: Governments won’t do as they promise very simply because we, in the energy business, pay them not to do as they promise.
Coal mining companies, for instance, have made sure the West Virginia population believes that reductions in coal use would create an economic disaster, costing workers’ their jobs and their ability to survive.
Never mind that coal burning will kill these workers, their children and grandchildren, along with everyone else in the world. They simply cannot envision a world without coal, because the coal producers speak so loudly against alternatives.
Obama’s New Emission Rules: Will They Survive Challenges?
The Obama Administration’s recent announcement that it plans to regulate greenhouse gas emissions from existing coal-fired power plants evoked cries of protest and warnings of economic doom from the political right, and praise from the center and the left.
Two things could completely derail the rules. First, if a Republican president is elected in 2016, he or she could halt their implementation. Second, the courts could strike them down.
Now, the real legal and political battles begin. The EPA will issue its final guidelines by June 2015. The states will have until June 2016 to file their plans to meet the guidelines, with possible two-year extensions.
President Obama will leave office in January 2017, so most of this process is likely to play out under his successor. If that’s a Democrat, the process will probably continue. But a Republican president who adheres to the current party position may well stop the program.
Translation: Republicans, their children and grandchildren, are not part of the human species — or any living species — so will not be affected by fossil-burning pollution.
Sadly, those who are not Republicans may be forced to participate in a suicide pact. But why worry? It probably won’t affect us adults too much. As for our grandchildren — well, we’ll be gone by then, so really, who cares?
I almost hate to mention it, but there are alternatives: The U.S. government (for instance) could:
–Spend billions on sequestering the pollution caused by burning fossil fuels, and
–Spend more billions on developing alternatives to fossil fuels — wind, solar, nuclear, completely new ideas, and
–Spend even more on billions on protecting the people whose jobs disappear along with fossil fuels, and
–Being Monetarily Sovereign, the federal government could do it without collecting one additional dollar in taxes.
Further, these additional billions would stimulate the entire economy, making us and our children and grandchildren healthier, both physically and financially.
Why is this so hard to imagine? Investors? Republicans? Humans?
Why?
Rodger Malcolm Mitchell
Monetary Sovereignty
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Ten 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. Tax the very rich (.1%) more, with much higher, progressive tax rates on all forms of income. (Click here)
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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
Vertical gray bars mark recessions.
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 
And this doesn’t consider the worldwide effects of CO2.
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“And this doesn’t consider the worldwide effects of CO2.”
And don’t forget smoking. Chinese people smoke 4.7 billion cigarettes a day, 365 days per year. And the smoking rate in increasing by 14% per year.
It gets better…
China has some degree of Monetarily Sovereignty. (I say some degree because the Chinese renminbi currency is not accepted throughout the world.) Therefore the Chinese central government does not really need “profits.” And yet, the China National Tobacco Corporation (which is government-owned) is always trying to increase its profits by expanding the number of smokers. The company has a monopoly in China, and accounts for a third of the world’s consumption of cigarettes. Naturally the cancer rates from tobacco products are extreme in China. The government’s solution to air pollution and tobacco pollution is “more exercise.”
Clearly, average Chinese people are as stupid as any other people. And yet, some Americans dream that the Chinese are “clever,” and will somehow save mankind from its folly. They dream that China is in “competition” with the USA, and that China may one day slow the rate of US imperial expansion.
This is a form of denial. I say there are no “Chinese” and “Americans.” There are only rich and poor.
Billionaires cooperate to widen the gap. China, Russia, and the USA have the most billionaires. Does anyone really dream that they will cease cooperating against the masses?
Austerity mania has hit China even harder than the USA, with financial deregulation, mass privatization, and mass denial. Do I need to prove this with another detailed comment that is too lengthy for anyone here to read?
Austerity mania is global. The drive to widen the gap between the rich and the rest is global. The Big Lie is global, although it takes different forms in different places. For nations with MS, the Big Lie is that their central governments are “broke.” For the euro-zone the Big Lie is that the euro is indispensable. For China, the Big Lie is that the government is still “Communist.” For India the Big Lie is that austerity and inequality mean “development.”
Even MMT people cling to the Big Lie. When they chant that “federal taxes drive money,” they repeat the Big Lie that federal taxes are necessary. They also worship Paul Krugman, who champions austerity (only not right this minute).
It’s everywhere. I just read an article by Robert Reich, who says we can save the middle class by taxing the rich. Mr. Reich implies that money is limited (which is like claiming that abstract inches or meters or pounds or points on a scoreboard are limited).
The question is whether all these disasters (climate change, air pollution, etc) will force societies to give up their Big Lies, or whether humanity will instead cling to its Big Lies to the point of species extinction.
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I agree. Also, when we say that a Monetary Sovereign government needs to spend money to combat Climate Change, what we are saying is that additional labor will need to be performed. And given that there is significant unemployment and underemployment, and that jobs are being replaced by machines at a rapid pace, there will be available people to perform this labor. So we can save the human race by utilizing unutilized labor, or go extinct. What will it be?
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The effects of climate change are rapidly accelerating. Consider Lake Mead, the largest reservoir in the USA. Because of drought (caused by climate change) the lake’s water level is dropping at a catastrophic rate. The City of Las Vegas will eventually disappear, since it relies on the lake for 90% of its water. Los Angeles will eventually have power outages, since it relies on the lake (i.e. Hoover Dam) for much of its electricity. Already marinas and boat launch ramps have had to close, or be moved to other areas of the lake.
Since Lake Mead feeds the Colorado River, all communities downriver are being increasingly deprived of water, as is the billion-dollar agricultural industry in the Imperial Valley, CA.
In the photo below, the white area on the rocks is where the lake’s water level was before 2000. About 4 trillion gallons of water have been lost. This loss is permanent and accelerating.
http://kpbs.media.clients.ellingtoncms.com/img/photos/2009/06/18/lake-mead-getty_tx700.jpg?8e0a8887e886a6ff6e13ee030987b3616fc57cd3
If we stop burning fossils fuels, then life as we know it will end, but humans will not go extinct. Water, however, is another matter. Life is not possible without it. All living organisms depend on water.
Fox News says the best way (indeed the ONLY way) to address the Lake Mead catastrophe is via the “free market.” That is, we must keep doing exactly what we are doing to worsen the catastrophe.
Meanwhile climate change is causing parts of the eastern USA to be hit by excess rainfall and mass flooding, which causes disastrous losses of property, stock and crops. The United States could build giant canals to channel water from the flooded east to the drought-stricken West, thereby creating countless jobs.
Unfortunately the US government is “broke.”
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And Democrats
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== OFF TOPIC ==
I just skimmed fifteen different articles about the US national debt. All 15 imply that average Americans are stupid because they do not realize how bad the “crisis” is. All of the articles stupidly equate a money creator with a money user.
What if you could switch on your home computer, access your bank account, and credit your account by as much as you liked, as often as you liked?
Would you have a “debt crisis”? Would you need to borrow money?
What if you bought goods and services with the money you created, thereby causing jobs to expand in number?
Would your purchases cause inflation?
Money is an abstract creation in people’s minds. The 1% understand this. Past a certain level of wealth, they realize that still greater wealth is not a matter inventing, or investing, or innovating, or “working harder.” No, it is simply a matter of manipulating numbers. They win every time, not because they play better or harder, but because they control the scoreboard. They are the ultimate parasites and “takers.”
They get away with it because their host remains in denial.
It’s like having a creature on your back that sucks your blood and pumps you full of a venom that causes paralysis, amnesia, and a mental stupor. You are not sure what is causing you so much pain, but you are sure that the venom is fresh, healthy blood.
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The Irish government says that next year’s budget will be the worst ever in terms of austerity. Then, finally, there will be no more austerity. However Ireland will continue to use the euro, which means more austerity. Forever.
Ireland has a trade surplus of 3.3 billion euros, but the government is 30 billion euros in debt to the Troika and to rich investors.
Result: no matter how bad things get for Ireland, they ain’t seen nothing yet.
Some 250 people emigrate from Ireland each day, and are replaced by immigrants from Africa, and from central and eastern Europe.
Some Irish people complain that outsiders are “taking over.”
But all Irish people support the euro. Thus, they support more poverty and inequality.
https://uk.news.yahoo.com/imf-questions-irish-hopes-ditching-austerity-2015-155159731–business.html#vHLaBts
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“The New Statesmen” is a British magazine that calls itself “leftist.” It is associated with the Labour Party, which corresponds to Democrats in the USA.
Like the UK Labour Party and the US Democratic Party, “The New Statesman” favors more austerity, and a wider gap between the rich and the rest. “The New statesman” demands a balanced budget, and says there is “no money” for social programs.
Even though unemployment continues to explode in England, the Labour Party and the “The New Statesman” want to end unemployment benefits.
It is part of what the Labour Party calls “re-imagining welfare” — which is code for, “the peasants must have more austerity, so we can keep widening the gap.”
This is what passes for “leftist populism” in the UK.
…and the gap keeps widening.
http://www.newstatesman.com/politics/2014/06/miliband-reimagines-welfare-era-austerity
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Quatloosx, Your’re point on describing the conundrums, hypocrisies, and delusions inherent our socio- political economy. Its funny, everybody agrees there is a wealth disparity problem,,, and an ecological catastrophe impending, yet most debating these issues are themselves wealthy,
They’re all pointing fingers at each other, as if they themselves arent benefiting from, and or causing ,the malaise, apathy , and ignorance of wage slaves, whom are suffering from a lack of similar benefits in time , and education.,Without which these problems of short sighted profits , gains, and disruptions inherent our global capitalist system, wont be seen for what they are , and changed. This insane idea there exists some objective economic reality outside the scope of human affairs is what underpins many perspectives …
People cant understand they can change the rules, and to do this , for no other reason than to save the very children they claim to love. Maybe sincerity is the problem, and their ignorance is amplifying the sincerity. .
You probably think i am crazy, but movements need cohesion’s. How do we group together like minded people that can embrace an economic system that favors their interests, of course related to what they perceive is in their self interest?.
Yet in a strange way, you have to be long term oriented enough to see whats in your ultimate best interest, forsaking short term gains; another words being wise.
Then you need a heavy dose of humility altruism, and empathy ,when understanding, and accepting the realities and benefits of monetary sovereignty. What sectors of society, the world across, embody these ideals?
Of the 260 billion dollars people in the united states donate to charitable causes, well i am sure you guessed it- 38% goes to religious causes., Other large percentages go to medical research, education,and various social causes, of course all alternatively could have been funded easier through our federal government, but that’s not my point, Animal causes and the environment get only 11 billion of that 260 billion, and animal causes get 10%of that , a minuscule amount, I would argue the environment should be our largest concern, , and animal rights people with their resulting preference for habitat protections make up a good proportion of most of the environmentally conscious population. Why not try to focus on this segment of people. Obviously the private sector is not going to adequately fund their interests, and only through greater access to public funding can they hope to make a difference.
Economics embracing the realities of our monetary systems operations might be important to understand in solving these issues, and unfortunately probably 100 % of the leading people in these movements understand economics through a neo classical prism. This group is obviously long term oriented, willing to sacrifice short term gains for self interested long term perspectives of peaceful sustainable coexistence’s within nature.
A first step in embracing the benefits of a limited regulated capitalistic economy. They understand the sanctity of life and respect its diversity, as well as express frustration with current understandings of monetary operations and economics to fund causes for animals and their habitats. . .I think they would embrace the potential of monetary sovereignty, and surely few have heard of it. They listen to Harvard professors like Niall Ferguson whom never give these principles a nod. He writes best sellers and gets Pulitzer prizes. Yes paid for by the establishment, but thats what we need to expose.
Nobody can argue against the principles of monetary sovereignty funding unprofitable pursuits. Its just viewed as Utopian and unrealistic, just as saving elephants, tigers, rhinos, and their habitats are in the face of global capitalism . At least from short term balance sheet perspectives.
Anybody involved with animal protection is keenly aware of the hopelessness, if we can show them the establishment is basing their economic models on lies ,and or untruths, regarding the monetary operations of our monetarily sovereign country, than maybe many will adopt these new perceptions. Or at least point out why they choose to devote time and energy towards a loosing cause, while simultaneously holding on to mythical economic ideas and principles that arent true,and further more are counter-intuitive to their goals .
Maybe if they adopt these new ideas about economic reality, that this country is monetarily sovereign, they will help spread the word. We dont have to live this way, this is a choice. The financial sector has captured capitalism, and until we prove there is a more democratic, peaceful, and less austere way to look at our monetary system ,and fund whats in the public’s best interest, , the banks will continue to consolidate and capture the money influenced political debate.
Oil investors will bet we’re just stupid enough to change policy initiative. They will gain a short term point gain, and then die with the rest of us well intention ed idiots.
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>>“We don’t have to live this way, this is a choice.”
Exactly.
>>“Nobody can argue against the principles of Monetary Sovereignty. It’s just viewed as Utopian and unrealistic, just as saving elephants, tigers, rhinos, and their habitats are in the face of global capitalism.”
Most people are not happy unless they’re miserable, and everyone around them is even more miserable. If you explain to them the facts if MS, they scream “inflation!” If you prove that they don’t know what they are talking about, they walk away, or they change the subject, or they simply revert to Stage One: a smug dismissal of the facts. This is what I call a peasant mentality.
Here’s some irony for you…
I often talk to people from Mexico and Central America. My neighborhood is full of therm. Many have been here less than a year. When I explain the facts of MS to them, they immediately grasp it all, and they agree with it. MS the only thing that makes sense to them.
However they too have their limits. When I tell them, “Now you know much more about economics than 99.99 percent of the population,” they disagree. They are convinced that I am exaggerating.
It’s like me telling then, “See that naked guy? He’s the emperor.”
“Why is he naked?” they ask.
“Well,” I respond, “everyone here except me and you is convinced that he’s wearing clothes.”
“Oh come on,” they protest. “No one can be that stupid.”
I’m not joking, and I’m not making this up. They truly think I am exaggerating. They think that if people are that stupid, they are only PRETENDING to be that stupid.
In a sense, they are correct. Rejection of the facts of MS is not a product of a faulty intellect, but of a faulty character. As in moral character.
For most people it is more fun to hate than to awaken from their nightmare.
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This Week In Crazy”
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HUGE NON-SURPRISE
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That article says, “There’s only one word that can describe Walker’s future — toast.”
Please.
No charges have been filed against anyone, and none appear imminent. Everything has been halted, and is now in limbo. Walker is untouchable, since judges refuse to release information that prosecutors need.
I’m betting that Walker will easily serve out his term (which runs until 3 Jan 2015) and will then be re-elected.
The tragedy is that Wisconsin used to be a comparatively liberal state. Much of it had been populated by Protestant Germans and Scandinavians who had a socialist mentality, and did not include the right to bear arms in their state constitution. They were so progressive that even their Republicans were left-leaning.
But things started to unravel in 1999 when Paul Ryan was first elected. From there on, the climate increasingly soured (i.e. shifted right).
In mid-2010, just when austerity mania was unleashed upon the planet, progressive Democratic Senator Russ Reingold was defeated by Republican Ron Johnson, a right-wing extremist. Simultaneously, Democratic Governor Jim Doyle was defeated by Republican Scott Walker, who is even farther to the right than is Johnson. Walker immediately imposed austerity on Wisconsin, in order to widen the gap between the rich and the rest. Public employees protested, and occupied the state capitol building, but they were eventually forced out by the police.
Today Wisconsin is in lock-step with the right-wing march to a society of sociopaths and their prey. A society filled with racists and bigots and haters of all kinds. A society whose members value possessions over people. A society of greed, selfishness, and arrogance. A society of “Screw you; I’ve got mine.”
In short, a society of modern “Christians.”
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