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●Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
●The more federal budgets are cut and taxes increased, the weaker an economy becomes. .
●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.
●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.
●Everything in economics devolves to motive, and the motive is the Gap.
It has become an article of faith among the right wing, that the federal government is “too big,” and that decisions are best left to state and local governments.
In fact, some on the far right have taken to calling the federal government “leviathan,” so to paint a picture of an evil monster hovering above us.
Perhaps it is because of my experience as a resident of Chicago, Illinois, that I dispute this claim, but it seems to me that state and local governments can be, if anything, far more crooked, unfeeling and downright malevolent than the federal government.
Though one event does not a generality make, you might find this article interesting:
According to the New Jersey Constitution, state officials may only condemn private property for redevelopment purposes when that property is “blighted.”
Yet in a ruling issued on Monday, Judge Julio L. Mendez of the New Jersey Superior Court allowed Atlantic City to seize one man’s non-blighted family home. Why? Because the state enjoys “broad” powers, the judge said, and the courts have no business standing in the way.
Atlantic City officials announced a project designed to “complement the new Revel Casino and assist with the demands created by the resort.”
Although the specifics of the plan were never announced and the Revel Casino recently declared bankruptcy, state officials have persisted in their efforts to snatch up various parcels of land on behalf of this shadowy real estate scheme.
Among the properties targeted for condemnation is the well-tended family home of Charles Birnbaum.
Birnbaum’s home is neither blighted nor in need of any urban renewal. And as the New Jersey Supreme Court has plainly stated, “the New Jersey Constitution authorizes government redevelopment of only ‘blighted areas.'”
Judge Mendez went ahead and rubber stamped the land grab anyway.
I don’t know the specifics, but I suspect the honorable Judge Mendez owes his job to some local rich guys. And rather than risk the pain and embarrassment of actually having to work for a living, the good judge will go along with whatever they say.
He may be a pipsqueak in the legal world, but his ruling has the same force of law as would a ruling coming down from the United States Supreme Court or the United States Congress.
Bottom line: It’s not size that makes a government bad or good. It’s quality. Remember the old saying, “You can’t fight CITY hall.”
Want more examples? Click here.
Read a few, then determine for yourself: Who is the leviathan?
Given the choice of trusting the federal government vs. trusting the Chicago or Illinois governments, I for one, would go with the feds.
Rodger Malcolm Mitchell
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.
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.