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Mitchell’s laws:
●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.

Today, the excellent OpEd News blog ran the following post (excerpts):

Who Runs the Democratic Party?
By Bob Burnett

Not President Obama. He may be the commander-in-chief, but other than as a symbol he’s not the leader of the Democratic Party.

When George W. Bush was President it was generally accepted that Karl Rove — Bush’s campaign manager and White House deputy chief of staff — was the leader of the Republican Party and the architect of both the presidential and midterm GOP campaigns. Bush is gone but Rove continues to be in charge.

The Democrats lack focus. They don’t have a strategy comparable to that of the GOP. In between presidential elections, Democrats collapse into factions.

There must be a national Democratic strategy comparable to that developed by Karl Rove for the GOP. This is more than a compelling populist message. The strategy has to reach throughout the party to recruit viable candidates, raise money, establish a modern get-out-the-vote infrastructure, and, most of all, re energize the Democratic base.

There has to be a strategy with a message that involves and excites the 99 percent.

Actually, the title of the article may be slightly misleading, because the real subject is not “who” but rather, “what message.”

The Democrats simply do not have a coherent message to counter the Republican’s “cut spending” and “shrink government.”

In fact, the Democrats agree with the Republican message. How are you supposed to win elections, when you parrot the competition’s message?

The Democrats, as good-hearted as they may be, have no winning strategy. They, and especially President Obama, essentially are limp, spineless Republicans.

So, here is a novel thought for the next Democratic strategy: Tell the truth.

I know. It’s unthinkable, and never has been attempted in American politics. But desperate times call for desperate measures.

–Tell the truth about Monetary Sovereignty.
–Tell the truth about the absolute need for a federal deficit.
–Tell the truth about the federal “debt” being nothing more than bank deposits in the Federal Reserve Bank, easily “paid off.”
–Tell the truth about the unlimited sustainability of Social Security and Medicare.
–Tell the truth about who causes the Gap between the rich and the rest, and the effect of that Gap.
–Tell the truth about why the banksters must be stopped.

Hey Democrats, give the truth a shot. It’s an extreme strategy, but what do you have to lose?

Rodger Malcolm Mitchell
Monetary Sovereignty

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.

Monetary Sovereignty

Monetary Sovereignty

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.