–A possible cure for Trumpitis

Twitter: @rodgermitchell; Search #monetarysovereignty
Facebook: Rodger Malcolm Mitchell

Mitchell’s laws:
•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..

===================================================================================================================================================================================================================================================================================

TRUMPITIS

Definitions
1. The irrational acceptance of bombastic statements that clearly are supported neither by fact nor by logic.
2. A disease suffered by extreme, right-wing Republicans of minimal intellect, marked by hatred of minorities.
3. The belief that being rich and egocentric means one also is smart, competent or caring.
4. The belief that cheating on one’s wife, raping and beating her, calling women “pigs” and “bimbos” and other foul names, quoting false statistics and whining when asked questions about these actions, provide evidence of sanity, reliability and leadership skills.

Usages: 1. Those believing it is reasonable, possible or moral to deport 11 million immigrants have Trumpitis.
2. My Trumpitis doesn’t allow me to accept the 14th Amendment to the U.S. Constitution.
3. Despite evidence to the contrary, my Trumpitis forces me to continue insisting President Obama was not born in America.
4. As a result of Trumpitis, I believe that having four businesses go bankrupt under my leadership proves my competence.

……………………………………………………………………………………………………………………………………………………..

Trumpitis seems to be common in certain parts of America. Though some believe it very well might self-eradicate, others believe a cure is needed immediately, lest it spread to epidemic proportions, as it did in pre-World War II Germany and Italy.

Since facts and logic do not seem to be curative, here is a third alternative:

Rethinking which cells are the conductors of learning and memory

Glia are thought of as the support staff for the brain’s nerve cells, or neurons, which transmit and receive the brain’s electrical and chemical signals.

Named for the Greek term for “glue,” glia have been known as the cells that hold the brain’s bits together.

Some glial cells help feed neurons. Other glia insulate nerve cell branches with myelin. Still others attack brain invaders responsible for infection or injury. Glial cells perform many of the brain’s most important maintenance jobs.

But recent studies suggest they do a lot more. Glia can shape the conversation between neurons, speeding or slowing the electrical signals and strengthening neuron-to-neuron connections.

When scientists coaxed human glia to grow in the brains of baby mice, the mice grew up to be supersmart, navigating tabletops full of holes and mastering other tasks much faster than normal mice.

Based on differences in mouse and human astrocytes, Maiken Nedergaard, now at the University of Rochester Medical Center in New York and colleagues wondered if inserting human glia into mice would change the way mouse brains worked.

It did.

Human glial progenitor cells placed in mouse brains multiplied and then matured into astrocytes. Over several months, newly developing human astrocytes started to replace the mice astrocytes.

The mice with human cells also exhibited greater levels of long-lasting enhancement in neuron-to-neuron communication, suggesting that the human astrocytes were strengthening neuronal connections and communication.

When tested on a battery of learning and memory tasks, such as identifying the safe hole on a circular table, the mice with human glial cells quickly outperformed their mouse-brained counterparts.

Thus, early test results indicate that transplanting glial cells, from a more intelligent animal to a less intelligent animal, helps increase the intelligence of the less intelligent animal.

Therefore, as a possible cure for Trumpitis, I suggest transplanting mouse glial cells into the brains of those infected with this dread mental disease.

Rodger Malcolm Mitchell
Monetary Sovereignty

===================================================================================
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
Monetary Sovereignty

Monetary Sovereignty

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.

#MONETARYSOVEREIGNTY

11 thoughts on “–A possible cure for Trumpitis

  1. Being away from “The Donald” is a good thing! A tragicomedy routine. Poor ole USA!

    But I have a fundamental question no one in MMT or MS has ever answered:

    What official PROOF is there that all tax is destroyed? Bank notes are shredded and/or recycled. But accounting numbers need to be recorded, so the tax take is known. Are these numbers listed in Treasury’s accounts at the Fed? I have heard so. Which means why delete them when they would need to be created again immediately to pay creditors?

    Like

    1. How much money does the federal government have?

      Every year, people send billions of dollars to the federal government. So, how much money does the federal government have?

      See if you can find any measure of the amount of money the federal government has.

      (You can’t, and the reason is: Tax dollars are destroyed, then re-created, ad hoc, by spending.)

      Like

      1. https://research.stlouisfed.org/fred2/series/GDBFRM

        The government has accounts at the Fed and they are normally funded. They dont have “alot” of money – but they have nontheless.

        I’m actually surprised that anyone is asking the question as to how much money does the federal government have though….

        The answer is simple: The government is currently running a deficit… of course it doesn’t have “alot” of money. Any money that comes in in the form of tax receipts (plus new debt) is distributed immediately in the form of entitlements.

        Hopefully this is not too confusing?

        Like

        1. What exactly are you saying?

          Are you saying that the federal government does not create (aka “print”) its own sovereign currency, the dollar?

          And by the way, how much money does the federal government have? Legitimate question.

          Like

      2. That was not my question. My question is ‘What proof is there that the Fed or Treasury destroys tax dollars” By this I mean that Treasury does NOT store numbers in its accounts which represent tax payments. I have heard THEY DO and they recycle the tax dollar numbers as new money when telling the Fed to pay bills or whatever else Treasury does with its wealth in its Fed accounts..
        So it’s just a sleight of hand, and not strictly true?
        Can you add some light to this?

        Like

        1. I do not know whether the Treasury stores numbers for future use in printing currency. It is irrelevant.

          At any given moment, there are printed pieces of paper, that one day will represent trillions of dollars, on the Treasury printing presses.

          Each of these pieces of paper contains a number. Before they are issued, they have essentially no value, so the fact that they contain a number does not give them value.

          Tax dollars are said to be destroyed simply because once they become the property of the federal government they cease to have value — just like those reams of green paper at the Treasury.

          Dollars have value only when they are in the public domain.

          That is why no one can say how many dollars the federal government has. And, that is why Warren Mosler likes to say, “The government either has no dollars or infinite dollars, depending on how you look at it.”

          Either way, the government has no tax dollars — and needs none.

          Like

          1. At least that accords with what Warren says. It just is difficult to get across to those who don’t “get” it. I just wanted to be sure what destroying meant, but it does mean the numbers might seem to get recycled and so less new money created.

            Like

  2. Such a question is sort of like of the Heisenberg principle which states that if you know how fast something is moving you lose its position, and if you know its exact position you lose its velocity.

    So if the velocity of money can be known, the total-quantity/position can’t; and if the quantity-position can be known then the velocity cannot.

    The bad news is we know neither as aren’t dealing with physics. At least in physics you can determine one or the other. Money is totally variable having no physical constants let alone any instruments capable of detecting quantity or exchange velocity.

    Try as they might, macroeconomists cannot quantify money in any way as it is without structured laws. It’s guesswork using the most bizarre calculus. Being good at math and having super computers isn’t enough. You have to also be dealing with a logical, natural Universe.

    Like

    1. Truly Trump will “Make this country (Grate) again” like the good ol’ days of George Wallace, Richard J. Daley, and Joe McCarthy.

      Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s