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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.
Sometimes no comments are needed.
“How horrible, fantastic, incredible it is that we should be digging trenches and trying on gas masks here because of a quarrel in a far-away country between people of whom we know nothing.”
—Neville Chamberlain, 27 September 1938, 8 p.m. radio broadcast, on Czechoslovak refusal to accept Nazi demands to cede border areas to Germany.
The Obama Watch, Obama’s Strange Iran Negotiations
He turns down a bargaining chip from Congress.
By Scott McKay –
Two senators, Republican Mark Kirk and Democrat Bob Menendez, have authored a bill to impose tougher economic sanctions on Iran if it ultimately refuses to honor the demands of the international community as regards its nuclear weapons program.
President Barack Obama has now pledged to veto that bill.
Obama said in a written statement last week that threatened a veto of the bill. “Imposing additional sanctions now will only risk derailing our efforts to resolve this issue peacefully.”
Not only has Obama rejected the bill, he touched off an intraparty squabble with Menendez and other Democrats by attacking it as the product of influence by “donors and others” — which many have interpreted as code for influential Jews protecting Israeli interests.
PowerLine’s Paul Mirengoff suggests (Obama’s) willing to give away the store to Iran in order to set the stage for a grand bargain with the mullahs that will magically solve the problems in the Middle East.
The commander of the Basij militia of Iran’s Revolutionary Guards said in an interview that “erasing Israel off the map” is “nonnegotiable.”
“The Zionists should know that the next war won’t be confined to the present borders and the Mujahedeen will push them back,” he added.
Fars News also quoted Naqdi threatening both Saudi Arabia and the United States.
Any questions, college students?
Rodger Malcolm Mitchell
THE OBAMA NEGOTIATIONS
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.