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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.
●The single most important problem in economics is the gap between rich and poor.
●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.
Reader Ian Winograd, quoting from and article at cnbc.com, wrote:
Here is an interesting one:
“The decision by Texas to reject expansion of Medicaid, the government health-coverage program for the poor, will prevent the state from receiving an estimated $100 billion in federal cash over a decade, at the same time its hospitals are eating $5.5 billion in annual costs for treating uninsured people.”
The article is from May 29, but you have been highlighting this for a while now. What is the catch? Texas has to pay no more than 10% of the costs after three years. How does Texas keep reelecting Perry?
We are in a rich man’s world, where political considerations so dramatically trump the wellbeing of our people, that any consideration of human benefit not only is ignored, but derided (i.e. a “bleeding heart liberal”).
In the previous post, we read in the Constitution that “Governments are instituted among Men, deriving their just powers from the consent of the governed,” to secure the “unalienable Rights (including) Life, Liberty and the pursuit of Happiness.”
Clearly, the politicians of Texas (and the other states refusing to expand Medicaid) have refused to secure these rights for their citizens, and are far more interested in proving how much they hate Barack Obama.
Today, hating the President, not benefiting the constituency, might seem to be the litmus test for being considered a “serious Republican.”
In actuality, the real litmus test is the degree to which one sucks up to the rich, for the real constituency is the money the rich provide, courtesy of the Supreme Court.
There is no right or wrong. There only is “How much?” And this belief extends from the President, through Congress, into the entire judiciary.
As we repeatedly have stated, the rich own the executive, legislative and judiciary branches (via campaign contributions, free gifts and promises of lucrative employment), the media (via ownership) and the university economists (via gifts to universities).
And lest you believe the Supreme Court justices are immune to the lure of bribery, consider this:
Supremely Unseemly Conduct by Supreme Court Justices Spurs Call for Mandatory Ethics Rules
Submitted by Lisa Graves on January 9, 2012
Madison, WI, January 9, 2012—The Center for Media and Democracy today joined a coalition of public interest organizations in calling for the United States Supreme Court to agree to follow the Code of Conduct for U.S. judges.
Specifically, Canon 2 of the Code of Conduct mandates that “A judge should not allow family, social, political, financial, or other relationships to influence judicial conduct or judgment. A judge should neither lend the prestige of the judicial office to advance the private interests of the judge or others nor convey or permit others to convey the impression that they are in a special position to influence the judge.”</strong>
Justice Antonin Scalia and Justice Clarence Thomas have attended exclusive events at private resorts orchestrated by the billionaire oil barons Charles and David Koch, which the brothers use to advance their partisan political agenda.
Justice Thomas has also accepted gifts of travel on the private jets of billionaire Harlan Crow, and he has not been fully forthcoming about the income and political activities of his wife, Ginny Thomas, who launched a group, Liberty Central, to take advantage of the Supreme Court’s controversial ruling in the case that struck down election rules, “Citizens United,” before the decision in the case was even issued publicly in 2010.
And Justice Samuel Alito has headlined fundraising events for right-wing organizations, such as the American Spectator magazine.
One would think this would be a no-brainer. Why would the Supreme Court justices not want to have the same Code of Contact as the other judges??
Apparently, greed knows now boundaries, even the walls of the Supreme Court. Now, years after the above article:
“The questionable activities of some of our Supreme Court justices have been well documented — participating in political functions, failing to report family income from political groups, and attending fundraisers,” Rep. Louise Slaughter (D-N.Y.) said in a press release. “It doesn’t make sense that members of the highest court in the land are the only federal judges exempt from the code of conduct.”
And the list of Supreme Court justice malfeasances goes on and on.
Justice Thomas has received by far the most gifts, including a $1200 set of tires, a $15,000 bust of President Lincoln, and $19,000 Bible given to him by a major funder of the Swift Boat Veterans for Truth.
Chief Justice Rehnquist and Justices Stevens and Kennedy received honorary memberships in the Washington Golf and Country Club, which they valued last year at $4,000.
Justice Ginsberg received $100,000 from a charitable foundation which she distributed to various law schools, women’s organizations and theatrical companies.
Justice Scalia enjoyed a free ride on Air Force II while a case involving Vice-President Cheney was pending before the Court.
But here is the “defense” for our Supreme Court justices being able to gobble at the bribery trough.
Professor John Yoo, a former Thomas clerk, defends the gift taking. “I don’t see why it is inappropriate to get gifts from friends,” said Yoo. “This reflects a bizarre effort to over-ethicize everyday life. If one of these people were to appear before the Supreme Court, Justice Thomas would recuse himself. So I don’t see the problem.”
Professor Yoo doesn’t see a problem — and that is the problem.
To him, there is no problem with accepting many thousands of dollars worth of gifts from “friends,” who just happen to want something. (When was the last time you gave a friend a gift worth $19,000?)
And to him, there is no problem with a Supreme Court judge “lending the prestige of the judicial office to advance the private interests of the judge or others nor convey or permit others to convey the impression that they are in a special position to influence the judge.”
(And, of course, he’s dead wrong about the Thomas’s willingness to recuse, but that’s just a detail.)
So if you still wonder why the Supreme Court decided that money is the same as free speech and that corporations are people whose religious beliefs are more important that their employee’s religious beliefs, wonder no more.
Similarly, if you wonder why the politicians of the State of Texas voted intentionally to deprive their state of $100 billion, wonder that no more, either. They were told how to vote by the rich.
I don’t know how long it will take for the American people, especially you who vote for the party of the rich, to understand one simple fact:
The rich want to widen the Gap. Whether this means gathering more for themselves or allowing less for you is immaterial, so long as the Gap is widened.
They could not care less, whether you people of Texas, or any state suffer. In fact, they welcome your suffering as part of their Gap-widening goal. The more you suffer, the wider the Gap.
Yes, yes, I know. This is like talking to a wall.
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
Long term view:
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.