Twitter: @rodgermitchell; Search #monetarysovereignty
Facebook: Rodger Malcolm Mitchell
Mitchell’s laws:
●Liberals think the purpose of government is to protect the poor and powerless from the rich and powerful. Conservatives think the purpose of government is to protect the rich and powerful from the poor and powerless.
●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.
●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.
●Everything in economics devolves to motive, and the motive is the Gap.
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Today, the American electorate, composed primarily of lower- and middle-income families, voted to move toward the Tea Party and the right wing.
USA Today
Sheep jump to their deaths(AP) — First one sheep jumped to its death. Then stunned shepherds, who had left the herd to graze while they had breakfast, watched as nearly 1,500 others followed, each leaping off the same cliff.
In the end, 450 dead animals lay on top of one another in a billowy white pile.
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. (Refer to this.)
8. Tax the very rich (.1%) more, with higher, progressive tax rates on all forms of income. (Click here)
9. Federal ownership of all banks (Click here and here)
10. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)
The Ten Steps will add dollars to the economy, stimulate the economy, and narrow the income/wealth/power Gap between the rich and the rest.
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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.
1. A growing economy requires a growing supply of dollars (GDP=Federal Spending + Non-federal Spending + Net Exports)
2. All deficit spending grows the supply of dollars
3. The limit to federal deficit spending is an inflation that cannot be cured with interest rate control.
4. The limit to non-federal deficit spending is the ability to borrow.
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 growth lines rise. Increasing federal deficit growth (aka “stimulus”) is necessary for long-term economic growth.
#MONETARYSOVEREIGNTY
#Monetary Sovereignty - Mitchell 
The democrats have been achieving their goal of deficit reduction. They thought that this is what America wanted more than anything. Perhaps they were wrong. When Reagan took office, the deficit was around $70B. By 1984, it was over $200B and Reagan won in a landslide.
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Sadly, the Republicans only represent the right. Their actions, of course, are more aligned with the left.
America did act like sheep last night, but not because they voted for “the right”, but because they voted for the left in a “right” suite. At the end of the day they voted against the Democrat’s extreme liberal policies, not for the right.
One thing I am happy for, though, is that Americans are not as stupid as the group of Socialist thugs, RMM, Naked Capitalsm, among others, make them out to be. Great to see America slapped you hard in the face for trying to con them to follow your agenda. Hopefully there are more slaps where this one came from.
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This is the first time I’ve heard that the Koch brothers were “lefts in right suits” and “Socialist thugs.” They successfully had kept that hidden.
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How about Warren Buffet, Carl Icahn, George Sorros – are they right wingers?
I bet you can find more wealthy people on the left than on the right?
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Which has absolutely nothing to do with whether the Kochs are “lefts in right suits.” Having trouble focusing?
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Not sure why you are acting as if the world is going to end.
Hasn’t the house been Republican for a long long time – which meant they could have choked funding to all liberal programs like Obamacare. Well????
And not only that, how about the debt ceiling… Did the so called right wingers choked funding then? Of course they didn’t…
Truth here is that it’s one big party – they and their chosen ones are enjoying it while the getting is good (be it Koch, AFL CIO, Unions, etc) – while we keep taking it from behind.
This world sucks for middle income people – that’s for sure.
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” . . . they could have choked funding to all liberal programs like Obamacare. Well????”
I hate to embarrass you (Is that even possible?), but the Republican House voted 54 times– that’s FIFTY FOUR TIMES — to eliminate ACA.
Actually, I agreed with the sentiment, although 54 votes is the usual right wing childish nonsense, especially since they have no plan.
ACA is a crap law. We should have free, comprehensive Medicare for every man, woman and child in America.
ACA simply delays what much of the civilized world already is doing.
And the vote did not end the world. It’s the best thing that could have happened. The nation will get to see how the rich wing governs. It will be a good teaching exercise.
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What did the 54 votes represent? The passing of ACA anyway? Give me a break..
The Republicans huff and puff like the big bad wolf and then turn into a sheep. Here is how it works:
– They always come out and bash any laws proposed by the Democrats
– They vote a few times against the law
– the law “conveniently” passes anyway. Republican voters are too stupid to figure out just how the law was passed, that’s too difficult to figure out so they just assume it was all the democrats fault.
– Republicans huff and puff again about not funding the legislation.
– The law, AGAIN, conveniently gets the funding it needs. Again the Republican voters turn a blind eye as to how the legislation got the funding even though Republicans own the house. Again, it’s too difficult to figure out so it must have been the democrats fault.
The Republicans should change their names to the hypocrite-blicans – I give it to the Democrats, they don’t deny being a bunch of socialist lunatics.
At the end of the day a selected group will benefit as I said above, the rich won’t pay and neither will the poor. The middle class, too busy to show up to the polls, will get it from behind.
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A good article you should read:
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It was reported that two thirds of eligible voters did not bother to show up. So the Republican mandate in both houses was carried through less than a third of voting population?
That says a lot about our so-called democracy.
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“The nation will get to see how the rich wing governs. It will be a good teaching exercise.”
If the Bush years werent example enough for the masses that Cons are the most destructive and dangerous force in America, I dont know if anything will.
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http://www.theatlantic.com/politics/archive/2014/11/Mitch-McConnell-Republican-Senate/382422/
“Let me make it clear: There will be no government shutdowns and no default on the national debt”.
Mitch McConnell understands that the US cannot default on the national debt. He must have been reading this blog!
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When people drag out the old “scare” words socialism and communism during a monetary system discussion, you know the discussion has ended and has been replaced by smug idiocy.
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@JimG: Also add the scare word “hyperinflation” to the list.
Many people just can’t seem to comprehend how dollars are really created – it’s too simple to be believable, but it’s true (I think Keynes said something on this idea). Many people think dollars need to be backed by something tangible like gold for dollars “to work properly and to be a real money, if it isn’t it’s “funny money” and not real money.” (they say: “Oh my Gawd!, the government just can’t print money out of thin air, that isn’t right! – we will get automatically hyperinflation if we do that!, and everything will become worthless!”).
They think the money the government gets can only come from taxation and borrowing – they are completely devoid of comprehending that government can create dollars for spending as well. This stupidity boggles the mind.
When will the economic stupidity and ignorance end?
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The election means much less than it seems.
– nearly 2/3 of the potential electorate didn’t, or couldn’t, vote. This means that as little as 1/6 of the electorate (1/3 split mostly evenly between two or more candidates), gets to decide who’s elected.
– Winner-take-all elections means that a third party candidate can siphon off enough votes to tip the balance to the candidate the people LEAST want. This happened in England, with David Cameron who got less than 40% of the vote in his first election. It happened here, with Bush II and Clinton both actually getting less than half the majority, due to third party choices. We need instant runoff voting to prevent this.
– Unverifiable voting machines have been shown to flip votes, curiously, more often to Republicans. Read Brad Friedman’s Brad Blog. It’s full of verifiable examples. Poll workers no longer have the capability to check these complicated machines.
– Gerry-mandering ensures even normally blue districts vote red, or that all blue voters are clustered into one district instead of spread out as simple majorities in many.
– The poor, young and even women (through name-changing when they marry) are disproportionately discriminated against for tough new voter ID laws that are also a back-door poll tax.
– Money in dark pools guarantees a skewing of voter exposure to right-wing Koch Brother type ads. Fox TV does the rest. Even so, actual polls of American attitudes shows stubborn centrism, not right-wing ideology like what comes out of Washington. They don’t represent us.
– The list of reasons to disenfranchise people grows longer every day. In many swing states, like Florida, thousands, millions nationwide, of one-time felons can never vote again, over a million in Florida alone. Felons tend to vote democratic, or left.
The election in no way represents the majority will. Give that American Democracy fantasy up.
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Thank you for your excellent comment.
Many systems in America are broken, including:
–Our political systems
–Our economic systems
–Our educational systems
–Our infrastructure systems
–Our banking systems
–Our health-care systems
–Our human-support systems
–Our legal systems
But, you are correct. It begins with a shockingly disfunctional political system.
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