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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.
Many people voted for Barack Obama, because he promised change, and the people wanted change — change from the old cronyism, the old feed-the-rich, the old political BS that every day widens the gap between the rich and the rest.
Obama didn’t deliver. We didn’t recognize that he was a product of the cronyism, feed-the-rich, Chicago-style political BS.
We should have. It was right there in front of us — this “neighborhood organizer” that was promoted far beyond his skills by Mayor Daley’s mob. We should have seen it, but we didn’t. He fooled us.
Then, many of us voted for Republicans because they promised to end Obamacare, shut down the government, end all limits of campaign spending, broaden the tax base to get more from the poor and deport all 12 million of the undocumented. But, then each of us thought, “Hey, that doesn’t do me any good. In fact, it will screw me royally — and that’s what they want.
So, we now realize, none of today’s announced candidates gives a damn about us. They care only about the rich. Why have we let ourselves be conned into voting for these crooks?
And we thought: Fool us once; shame on you. Fool us twice; shame on us.
If we get fooled again by the Clinton, Pelozi, Boehner, Biden, Bush, Christi, Rubio, Ryan, Romney, Santorum old-guard political hacks, we deserve to continue being tied up, raped and tossed in the trash.
There is one, and only one candidate, so far as I know, who is willing to buck the elephants and jackasses, and act for the people:
Early Friday evening Sen. Elizabeth Warren took to the Senate floor and gave a plain-spoken, barn-burning speech that could make history and put her into serious contention to be the next President of the United States.
Democrats don’t like Wall Street bailouts. Republicans don’t like Wall Street bailouts. The American people are disgusted by Wall Street bailouts.
And yet here we are, five years after Dodd-Frank with Congress on the verge of ramming through a provision that would do nothing for the middle class, do nothing for community banks, do nothing but raise the risk that taxpayers will have to bail out the biggest banks once again…
So let me say this to anyone who is listening at Citi[group]. I agree with you Dodd-Frank isn’t perfect. It should have broken you into pieces!
If this Congress is going to open up Dodd-Frank in the months ahead, then let’s open it up to get tougher, not to create more bailout opportunities.
If we’re going to open up Dodd-Frank, let’s open it up so that once and for all we end too big to fail and I mean really end it, not just say that we did.
Instead of passing laws that create new bailout opportunities for too big to fail banks, let’s pass…something…that would help break up these giant banks.
A century ago Teddy Roosevelt was America’s Trust-Buster. He went after the giant trusts and monopolies in this country, and a lot of people talk about how those trust deserved to be broken up because they had too much economic power.
But Teddy Roosevelt said we should break them up because they had too much political power. Teddy Roosevelt said break them up because all that concentrated power threatens the very foundations up our democratic system.
And now we’re watching as Congress passes yet another provision that was written by lobbyists for the biggest recipient of bailout money in the history of this country. And its attached to a bill that needs to pass or else we entire federal government will grind to a halt.
Think about that kind of power. If a financial institution has become so big and so powerful that it can hold the entire country hostage. That alone is reason enough to break them up.
Enough is enough.
Enough is enough with Wall Street insiders getting key position after key position and the kind of cronyism that we have seen in the executive branch. Enough is enough with Citigroup passing 11th hour deregulatory provisions that nobody takes ownership over but everybody will come to regret. Enough is enough.
Washington already works really well for the billionaires and the big corporations and the lawyers and the lobbyists.
But what about the families who lost their homes or their jobs or their retirement savings the last time Citigroup bet big on derivatives and lost? What about the families who are living paycheck to paycheck and saw their tax dollars go to bail out Citi just 6 years ago?
We were sent here to fight for those families. It is time, it is past time, for Washington to start working for them!
Can you imagine Hillary giving a speech like that? Can you imagine any Republican giving a speech like that?
The current crop of misfit politicians are so greedy for money, they do anything and everything the rich tell them to do. And it’s always the same: Take from the middle class and the poor, and give to the rich.
At long last, we should vote for someone whose entire record is: Fight for the 99%.
Warren isn’t Obama-esque phony change. She has proven she means it.
The political hacks can’t fool us twice. We won’t vote for the same old mopes. We’ve done that already, and look what it brought us.
Fool us once; shame on you. Fool us twice; shame on us.
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.