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•Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
•Any monetarily NON-sovereign government — be it city, county, state or nation — that runs an ongoing trade deficit, eventually will run out of money.
•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.
•Everything in economics devolves to motive, and the motive is the Gap between the rich and the rest..
The right wingers say con-artist Donald Trump “tells it like it is,” meaning his lies match their bigotries.
These days, to be a good Republican, one must carry a large inventory of hatreds, including enmity toward gays, blacks, browns, yellows, immigrants, foreigners, non-Christians, liberals, anyone wanting any control over guns, and anything Obama . . . and of course, women.
My favorite politician, Elizabeth Warren, is far superior, morally and intellectually, to the dopes currently running for President. Compare her with Trump, Cruz, Bush et al, and . . . well, there is no comparison. It’s like comparing a great novel with a porn comic book.
And here is a perfect example:
“I come to the Senate floor today to ask my Republican colleagues a question.
Do you have any idea what year it is? Did you fall down, hit your head, and think you woke up in the 1950s? Or the 1890s? Should we call for a doctor?
“Because I simply cannot believe that in the year 2015, the United States Senate would be spending its time trying to defund women’s healthcare centers.
“On second thought, maybe I shouldn’t be surprised. The Republicans have had a plan for years to strip away women’s rights to make choices over our own bodies.
“Over the past few years, Republicans have voted to repeal the Affordable Care Act more than 50 times, including the portions that require insurers to cover contraception.
“Just to be clear, even though the abortions performed at Planned Parenthood are safe and legal, the federal government is not paying for any of them. Not one dime.
“This year alone, Republican state legislators have passed more than 50 new restrictions on women’s access to legal healthcare.
“The Republican scheme to defund Planned Parenthood is not some sort of surprised response to a highly edited video. Nope! The Republican vote to defund Planned Parenthood is just one more piece of a deliberate, methodical, orchestrated, right-wing attack on women’s rights.
“I’m sick and tired of it. Women everywhere are sick and tired of it. The American people are sick and tired of it.
“Scheduling this vote during the week of a big Fox News presidential primary debate, days before candidates take trips to Iowa or New Hampshire, isn’t just some clever gimmick. This is an all-out effort to build support to take away a woman’s right to control her own body and access to medical care she may need.
“I want to say to my Republican colleagues — the year is 2015, not 1955, and not 1895. Women have lived through a world where backward-looking ideologues tried to interfere with the basic health decisions made by a woman and her doctor, and we are not going back. Not now, not ever.”
And as for the right-wing haters, I have to admit I have a few hatreds of my own.
I hate bullies, bigots and mean-spirited bastards. Sadly, today’s Tea Party perversion of Republicanism seems to own a monopoly.
The Party of Lincoln has become the Party of Koch, thanks in part, to the Supreme Court of Scalia. It’s a Party of 19th century, crabby, rich, old, white men.
By contrast, Liz tells it like it is.Ⓒ
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
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.