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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.
Here is the complete text of a very short article in today’s Florida SunSentinel:
Trump says he’s serious about run for president
This time, Donald Trump says, he really means it.
The billionaire real estate mogul said in and interview Wednesday that he is “more serious” than ever about pursuing a run for the White House in 2016.
In recent days, Trump said, he has hired staffers in key primary states, retained an election attorney and delayed signing on for another season as host of NBC’s “Celebrity Apprentice” because of his political projects.
Hey, why not?
Why not a guy, who among his notable accomplishments was to file for corporate bankruptcy, not just once, but four times! — in 1991, 1992, 2004 and 2009 — and to be a leader of the ridiculous “birther” movement (that claimed Obama is not a born U.S. citizen)?
Why not a guy whose image is braggadocio on steroids? Why not a guy who is an adulterer? Why not a guy whom a judge ruled was personally liable for running an unlicensed business school?
Given these qualifications, I’d still vote for Trump if the only alternatives were Ben Carson, Jeb Bush, Chris Christie, Lindsey Graham, Rick Perry, Scott Walker, Ted Cruz, Bobby Jindal, Peter King and Sarah Palin.
At least in Trump, there is no doubt about where he stands: He loves the uber wealthy (especially himself), and despises those having less than he claims he has.
The rest of the bunch also love the wealthy, but pretend to care — really, really care — about you (while urging increases in your FICA tax and decreases in your Social Security benefits, Medicare and Medicaid coverages and cuts in poverty aids).
And oh, by the way. Trump won’t run.
When you run for President, you have great difficulty suing people for defamation, one of Trump’s tactics. And you have to disclose your finances, dirty laundry and all. And you have to answer questions about your taxes and tax shelters (Hello, Mitt Romney). And you have to stop renting your name to collect a salary.
No, the Donald will make a great deal of noise, mouth silly claims, insult people, file lawsuits, and in the end, generate publicity for his embarrassingly awful TV show, featuring such classy notables as Dennis Rodman, Geraldo Rivera and a “Real Housewives of Atlanta” person — a show that (to paraphrase H.L. Menkin) has succeeded by not underestimating the intelligence of the American public.
Run, Donald run. You’ll make a perfect Republican candidate and an even better President. What could be more comforting than to have you sitting in the Oval Office with your finger on the red button?
Send in the clowns.
Rodger Malcolm Mitchell
The 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. Federally funded, 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)
Initiating The Ten Steps sequentially 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.