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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..
Well, this didn’t take long:
“When you look at Paris, you know the toughest gun laws in the world in Paris, nobody had guns but the bad guys. Nobody. Nobody had guns. They were just shooting them one by one and then they broke in and had a big shootout and ultimately killed the terrorists.
“I’ll tell you what: you can say what you want, but if they had guns — if our people had guns, if they were allowed to carry, it would have been a much, much different situation.”
I hate to ask this question, because the Donald whines that all questions he can’t answer are “gotcha” questions, but here goes: Mr. Trump, How would you differentiate between the “bad guys” and “our people”?
Are the “bad guys” wearing beards and turbans, yelling “allahu akbar” and carrying assault weapons? And are “our people” clean shaven, reading the bible — and carrying assault weapons?
I mean, if you’re going to allow guns to “our people,” you must have a system for identifying “our people.” What is that system?
“I hear it all the time. You look at certain cities that have the highest violence, the highest problem with guns and shootings and killings. Chicago is an example. Toughest gun laws in the United States.”
Well, not exactly, but so long as you’re quoting your usual non-existent facts how about this fact: Chicago is a big place, with many neighborhoods. The neighborhoods having the most shootings also happen to be the neighborhoods with the most people carrying guns.
Hmmm . . . there goes the theory that gun-carry prevents shootings.
Following the Jan. 7, 2015 Charlie Hebdo attack, Trump tweeted: “Isn’t it interesting that the tragedy in Paris took place in one of the toughest gun control countries in the world?”
Not sure why that’s so interesting, but what is interesting is how two guys armed with assault weapons were able to mow down a bunch of artists sitting at their desks, drawing pictures.
Now, instead of these artists having pencils in their hands, and looking down at their drawing pads, if they had been holding assault weapons while watching the door, surely they could have overcome the bad guys’ advantage of surprise attack — if only Trump had a plan for identifying the bad guys.
And what is even more interesting is how every murder of every kind, under all circumstances, brings out the gun nuts who claim more people carrying guns is the way to prevent gun murders.
And most interesting of all, is how a guy whose only qualification for being President of the United States is having been fired from his own television show and sending four companies into bankruptcy, now is a leading Republican contender.
If only we could have another few mass shootings in America, just before the election, Trump would be assured of the Presidency.
Pray, Donald, pray.
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 Click here
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. Recessions come after the blue line drops below zero and when deficit growth declines.
As the federal deficit growth lines drop, we approach recessions, each of which has been cured only when the growth lines rose.
Increasing federal deficit growth (aka “stimulus”) is necessary for long-term economic growth.