Twitter: @rodgermitchell; Search #monetarysovereignty
Facebook: Rodger Malcolm Mitchell
•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 the rest..
•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..
This post offers a solution to the gun crime problem — and asks a question.
Chicago, and many other places in America, have a problem with gun violence. A typical example:
BREAKING NEWS ALERT
January 8, 2016
10 shot in Friday violence, including 1 killed, 2 injured near mayor’s home
One person was killed and two injured in a shooting Friday evening in the North Center neighborhood, about four blocks from Mayor Rahm Emanuel’s home.
The three were among 10 people wounded since Friday morning in Chicago, including five in one incident late Friday evening on the West Side.
Yes, in some Chicago neighborhoods even children carry guns, old people carry guns, women carry guns, men carry guns and many people have multiple guns. But the real problem is that not enough people carry guns.
The solution is simple: More people should carry guns.
There should not be any laws limiting gun ownership, because then only lawbreakers would carry guns. As everyone knows, “The only thing that can stop a bad guy with a gun is a good guy with a gun.” Laws won’t do it.
Similarly, laws against stealing don’t work, because lawbreakers don’t follow the law. And, good guys don’t steal.
And, laws against murder are useless, because only lawbreakers murder. Good guys don’t murder
When you think about it, laws don’t prevent criminals from committing crimes.
So logically, there should be no laws. Laws don’t work.
Problem solved: Give everyone a gun — even a machine gun (why not?) — and eliminate all laws.
Which brings us to the question: Why is the right wing so fearful? These folks seem to be frightened by virtually everything. They are afraid of such “meanies” as:
–Non-Christians in general
–Muslims in particular
–Latinos (especially Mexicans)
–“Bad” guys (Anyone not like “me.”)
–The federal deficit and debt
–Medical marijuana (but not alcohol or cigarettes)
–Science (especially Evolution and Climatology)
–Any politician who might possibly “take their guns”
–The words, “well-regulated militia.”
The list of fears goes on and on. What makes the right wing so terrified that they need to arm themselves (often with multiple, high-powered guns) and even carry those guns in public?
We really should offer compassion to people who have been frightened by their leaders — Trump, Carson, Cruz, Rubio, Limbaugh, Beck, Hannity et al. To live a life of cringing behind the door every time one of the “meanies” comes by — that surely must be painful.
So, let us try not to criticize the conservatives for the ignorance that causes trepidations and weaknesses.
If you can’t offer compassion at least, feel pity.
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
Recessions begin an average of 2 years after the blue line first dips below zero. There was a dip in 2015. Recessions are cured by a rising red line.
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.