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Global stock markets have lost $6 trillion in value in six days
Published Feb 28 2020, Maggie Fitzgerald

Global markets have lost $6 trillion in value over the past six days, according to S&P Dow Jones Indices.

The market sell-off also wiped about $4 trillion from U.S. stocks in the same period, according to the firm’s Senior Index Analyst Howard Silverblatt.

The Dow Jones Industrial Average, S&P 500 and Nasdaq are all in correction territory, down at least 10% from their most recent high.

That $4 Trillion loss in just six days does not include all the business and personal losses suffered by Americans — the businesses gone forever, the massive unemployment, plus all the losses that have taken place since the Feb 28 article was written. Many trillions of dollars lost from our economy

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Fill ‘er up. I’m off to put out a fire.

So to prevent our falling into recession and depression, this is what Congress dithers about:

Democrats demand adding hospital aid to GOP small-business plan. House Speaker Nancy Pelosi (D-Calif.) and Senate Minority Leader Chuck Schumer (D-N.Y.) on Wednesday called on Republicans to add food assistance, aid to states, and relief for hospitals to the GOP request for $250 billion in additional funds for small businesses.

Pelosi’s remarks signaled a possible obstacle for Treasury Secretary Steven Mnuchin’s request to boost a loan program for small businesses hurt by the coronavirus crisis.

Senate Majority Leader Mitch McConnell (R-Ky.) has said he would ask for unanimous consent in the Senate on Thursday for the extra money for the popular small-business Paycheck Protection Program, which has been swamped with requests for loans.

McConnell now must decide whether to include the Democrats’ demands, which would double the relief bill’s size, or delay the additional funding for small businesses.

What? The economy has lost many, many Trillions of dollars, and the Republicans want only an extra $250 Billion to save it? And now that the Democrats want to add $250 billion, the two parties will haggle?

What is there to haggle about? The economy needs the money. The federal government has the money. Is all this posturing necessary?

And why a loan program instead of a free support program? The federal government doesn’t need the money, and the indebtedness created by loans will be a millstone around the necks of small businessmen for many years.

Does Congress really want the private sector to recover? Or do the very rich, who run Congress prefer that we of the private sector remain needy and thankful for any crumbs we receive?

Why else would Congress stall and haggle about pumping money into the private sector, when adding money is the only way to prevent a depression, and the government has infinite money.

Instead, the thought-leaders have diminished the threat, so that the government has entered into the too-late, then too little phase, arguing over billions when they should supply trillions.

These are some of the people who have aided and abetted the killing of millions of Americans.

HEROES OF THE PANDUMBIC: Keep this video and this video as reminders, the next time you see, hear, or read anything these people tell you about anything.

They are liars. They are dangers to you and to your loved ones. These thought leaders are your enemies, in every sense of the word. (Thank you Fox “News” for the clips.)

Rodger Malcolm Mitchell
Monetary Sovereignty
Twitter: @rodgermitchell
Search #monetarysovereignty Facebook: Rodger Malcolm Mitchell

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THE SOLE PURPOSE OF GOVERNMENT IS TO IMPROVE AND PROTECT THE LIVES OF THE PEOPLE.

The most important problems in economics involve:

  1. Monetary Sovereignty describes money creation and destruction.
  2. Gap Psychology describes the common desire to distance oneself from those “below” in any socio-economic ranking, and to come nearer those “above.” The socio-economic distance is referred to as “The Gap.”

Wide Gaps negatively affect poverty, health and longevity, education, housing, law and crime, war, leadership, ownership, bigotry, supply and demand, taxation, GDP, international relations, scientific advancement, the environment, human motivation and well-being, and virtually every other issue in economics.

Implementation of Monetary Sovereignty and The Ten Steps To Prosperity can grow the economy and narrow the Gaps:

Ten Steps To Prosperity:

1. Eliminate FICA

2. Federally funded Medicare — parts A, B & D, plus long-term care — for everyone

3. Provide a monthly economic bonus to every man, woman and child in America (similar to social security for all)

4. Free education (including post-grad) for everyone

5. Salary for attending school

6. Eliminate federal taxes on business

7. Increase the standard income tax deduction, annually. 

8. Tax the very rich (the “.1%”) more, with higher progressive tax rates on all forms of income.

9. Federal ownership of all banks

10. Increase federal spending on the myriad initiatives that benefit America’s 99.9% 

The Ten Steps will grow the economy and narrow the income/wealth/power Gap between the rich and the rest.

MONETARY SOVEREIGNTY