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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..
What does it mean to be an American? How would you describe an American? What kind of people are we? How do we compare with others?
On a scale of 1-10, are we:
Where on the above scales would you rank the following lines from the poem, “The New Colossus,” on the Statue of Liberty:
“Give me your tired, your poor,
Your huddled masses yearning to breathe free,
The wretched refuse of your teeming shore.
Send these, the homeless, tempest-tost to me.
I lift my lamp beside the golden door!”
And, on the above scales, where would you rank the following lines from the Declaration of Independence?
“We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.”
And the following line?
“O’er the land of the free and the home of the brave?”
Then, what about the following lines?
Republican presidential candidate Donald Trump wants to end “birthright citizenship” for (immigrants’) children.
He would push to end the constitutionally protected citizenship rights of children of any family living illegally inside the U.S.
Trump’s program for “immigration reform”: Force Mexico to pay for a permanent border wall. Mandatory deportation of all “criminal aliens” (i.e. all undocumented immigrants) and deport their children.
And the following Trump lines:
“The U.S. has become a dumping ground for everybody else’s problems. When Mexico sends its people, they’re not sending their best. They’re sending people that (are) bringing drugs. They’re bringing crime.
“They’re rapists. And some, I assume, are good people.
“I don’t think it’s a small percentage, it’s a lot.
Something has happened in America. It didn’t start with Trump. He is just a symptom of a disease.
Exactly four years ago, the lead Republican was none other than Michele Bachmann, who made such comments as:
“If we took away the minimum wage we could potentially virtually wipe out unemployment completely because we would be able to offer jobs at whatever level.”
“The thing that I think that is getting a little tiresome is, the gay community thinks that they’ve so bullied the American people and they so intimidated politicians that politicians fear them, and so they think that they get to dictate the agenda everywhere.”
And before the Donald and before Michele, there was Sarah Palin, who combined lies and ignorance into a Tina Fey performance.
“(Obama) is . . . palling around with terrorists who would target their own country.”
“Dr. Laura: don’t retreat…reload!” (Defending Dr. Laura Schlessinger, the talk radio host who used the N-word on the air 11 times in 5 minutes.)
During the recovery from WWII, Americans were proud of our compassion and of our special moral place in the world.
Our Marshall Plan (officially the European Recovery Program, ERP) was an American initiative to aid Europe, in which the United States gave $13 billion (approximately $120 billion in current dollar value) in economic support to help rebuild European economies after the end of World War II.
The plan had bipartisan support in Washington, where the Republicans controlled Congress and the Democrats controlled the White House with Harry S. Truman as president.
Can anyone imagine the possibility of such a plan today, when it has become de rigueur for any act of generosity or kindness sneeringly to be termed “liberalism” or “political correctness”?
Today, especially among the right wing, cruelty is admired as being “strength,” insults are “candor,” and bombastic lies are “honesty.”
The solution to every problem is guns, more guns, and guns everywhere. Don’t help ’em. Shoot ’em. Or wall ’em out. Or lock ’em up.
It’s not clear when the American public turned toward the cynical and the angry.
I’m tempted to say the change in America began in the 1950’s, with Republican Senator Joseph McCarthy. His fear-mongering of communism created the notorious “McCarthyism.” Innocent people were punished by an entire nation mad with fear and suspicion.
We recovered as a nation, though many individuals’ lives were ruined.
Later came Republican Richard Nixon and his political strategist Kevin Phillips, who popularized the “Southern Strategy” based on fear and bigotry:
“From now on, the Republicans are never going to get more than 10 to 20 percent of the Negro vote and they don’t need any more than that…but Republicans would be shortsighted if they weakened enforcement of the Voting Rights Act.
“The more Negroes who register as Democrats in the South, the sooner the Negrophobe whites will quit the Democrats and become Republicans. That’s where the votes are.
“Without that prodding from the blacks, the whites will backslide into their old comfortable arrangement with the local Democrats.”
The Southern Strategy took advantage of the South’s fears and worst instincts, and essentially told silently bigoted people it was smart to be bigots. Nothing to be ashamed of, they should be proud.
And the Southerners dutifully, like little robots, did exactly as Phillips said they would.
Later still came 9/11 and xenophobia.
Today’s America continues to suffer a disease. Trump is the symptom and the disease is fear and hatred. We were made afraid by 9/11 and by the Great Recession and by so many mass murders.
We fear terrorists. We fear Muslims, blacks, Mexicans, criminals and drugs and rapes and murders. We fear losing our jobs and those we think are taking our jobs. We fear gays, who “convert our children” and “take our religion.” We fear the poor, who “drain our wealth.” We fear the government.
We fear our lack of control.
And where there is fear there is hatred. And from the dark cesspools of our population emerge the fear and hate mongers — the people who preach danger from which “only they can save us.”
The libertarians preach fear of government. The Tea Party preaches fear of the poor. The religious right preaches fear of “them taking our religion.” The NRA preaches fear of “them taking our guns.”
And we have arrived here. A rich man, who spews lies and hatred and fear, leads the Republican Party, with the rest of the pack yelping behind him, sounding their own lies and hatred and fear.
Now we have leaders who actually take pride in their bigotry. Hating has become “realistic,” and those who don’t hate enough are themselves hated for being “liberals.”
Every Republican now bases his/her candidacy on the diseased twins: Fear and hatred.
And that is what has become of America. The land of the free and the home of the brave has become “the land of fear and the home of hatred.”
Our flag flies in tatters.
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.