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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.
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A bit more than a week ago, we published “20 reasons why I vote Republican.”

Reason #2 was:

2. Climate change is a fake. People are not causing the earth to warm. And anyway, a warmer earth would be a good thing.

How timely, for today I read:

December 28, 2014
Pope Francis’s edict on climate change will anger deniers and US churches

Following a visit in March to Tacloban, the Philippine city devastated in 2012 by typhoon Haiyan, the pope will publish a rare encyclical on climate change and human ecology.

Urging all Catholics to take action on moral and scientific grounds, the document will be sent to the world’s 5,000 Catholic bishops and 400,000 priests, who will distribute it to parishioners.

“The monopolising of lands, deforestation, the appropriation of water, inadequate agro-toxics are some of the evils that tear man from the land of his birth. Climate change, the loss of biodiversity and deforestation are already showing their devastating effects in the great cataclysms we witness,” he said.

Bishop Marcelo Sorondo, chancellor of the Vatican’s Pontifical Academy of Sciences, a fellow Argentinian who is known to be close to Pope Francis, said: “Just as humanity confronted revolutionary change in the 19th century at the time of industrialisation, today we have changed the natural environment so much. If current trends continue, the century will witness unprecedented climate change and destruction of the ecosystem with tragic consequences.”

What?? The new Pope, leader of the world’s 1.2 Roman Catholics, now believes that humans are causing “unprecedented climate change and destruction of the ecosystem with tragic consequences”?

Well, as the saying goes, “Better late than never.”

Does this mean I’m left with only 19 reasons to vote Republican (like “The poor are naturally lazy” [10] and “Businesses are people and should have the same religious rights as people.” [9])?

Well uh, perhaps not:

Francis’s environmental radicalism is likely to attract resistance from Vatican conservatives and in rightwing church circles, particularly in the US – where Catholic climate sceptics also include John Boehner, Republican leader of the House of Representatives and Rick Santorum, the former Republican presidential candidate.

See, scientists like John Boehner and Rick Santorum don’t believe in man-made global warming, and they have solid proof:

Said Calvin Beisner, spokesman for the conservative Cornwall Alliance for the Stewardship of Creation, which has declared the US environmental movement to be “un-biblical” and a false religion.

“The pope should back off,” he said. “The Catholic church is correct on the ethical principles but has been misled on the science. It follows that the policies the Vatican is promoting are incorrect. Our position reflects the views of millions of evangelical Christians in the US.

There it is: The solid proof upon which the leader of the U.S. House of Representatives and a Republican Presidential candidate rely: Millions of evangelical Christians in the U.S. deny man-made global warming.

If that isn’t scientific proof, what is?

Ah the ignorant bliss of being a right winger.

Now for more austerity, too.

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
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.

#MONETARYSOVEREIGNTY