Author: Rodger Malcolm Mitchell

MBA Northwestern, business turnaround expert, economist

For once, I agree with right-wing gun nuts

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

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

This time I agree with the right-wing gun nuts:

A petition has been signed by more than 41,000 people who want the Quicken Loans Arena in Cleveland, Ohio, to allow guns to be openly carried during the convention, which runs from July 18 to 21.

Ohio allows for firearm open carry, but certain locations in the state, including the arena, prohibit firearms anywhere on the premises.

The petition, which was launched last week, includes a photo of a military-style assault rifle and calls the arena’s stance on guns “a direct affront to the Second Amendment and puts all attendees at risk.”

The petition is addressed to all three Republican presidential candidates, Trump, Texas Senator Ted Cruz and Ohio Governor John Kasich, and asks them to push the Republican National Committee to allow the open carry of firearms during the convention.

While it remains unclear whether the petition is genuine or actually a satire, it is being taken seriously by many.

A blog and Twitter user named Hyperationalist—whose biography states “speaking truth to stupid”—said on its WordPress page on Thursday that it launched the petition, acknowledging that it has “clearly struck a nerve.”

The Change.org petition says “Cleveland, Ohio is consistently ranked as one of the top ten most dangerous cities in America,” and by prohibiting guns from the arena, “the RNC and Quicken Loans Arena are putting tens of thousands of people at risk both inside and outside the convention site.”

The petition also includes “the possibility of an ISIS terrorist attack on the arena during the convention.”

I’m not sure whether or not this is a black joke, but in any case I’m all for it.

I think all the delegates to the Republican convention should carry not just handguns or even military-style rifles, but 50 calibre machine guns with belt ammo. Obviously that will make the convention less dangerous.

And Trump’s delegates won’t have to “sucker-punch” or beat people who disagree with them; they can resolve differences with finality.

If possible, delegates should have bazookas too, in case ISIS attacks with tanks.

Trump said he wants to “study the fine print” of the petition and said he hasn’t yet read it. He also referred to himself as “a very, very strong person for [the] Second Amendment.”

America, this is your Republican party at work.

While Trump “studies the fine print,” the rest of the crazies won’t need to study.  They’ll be all for it.

Me, too.

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 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 grow the economy, and narrow the income/wealth/power Gap between the rich and you.
========================================================================================================================================================================================================================================================================================================

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

THE RECESSION CLOCK

Recessions begin an average of 2 years after the blue line first dips below zero. A common phenomenon is for the line briefly to dip below zero, then rise above zero, before falling dramatically below zero. There was a brief dip below zero in 2015, followed by another dip – the familiar pre-recession pattern.
 Recessions are cured by a rising red line.

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.

————————————————————————————————————————————————————————————————————————————————————————————————-

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..
•No nation can tax itself into prosperity, nor grow without money growth.
•Cutting federal deficits to grow the economy is like applying leeches to cure anemia.
•A growing economy requires a growing supply of money (GDP = Federal Spending + Non-federal Spending + Net Exports)
•Deficit spending grows the supply of money
•The limit to federal deficit spending is an inflation that cannot be cured with interest rate control.
•The limit to non-federal deficit spending is the ability to borrow.

•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..

MONETARY SOVEREIGNTY

World’s shortest lists

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

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

We all like lists. We enjoy reading lists of the fastest, the biggest, the richest. Lists are interesting and fun.

But there is one kind of list we seldom see: The shortest list, for instance, a list of people who have walked on the sun, or a list of people who admire Sarah Palin’s brains.

For your interest, I give a partial list of those shortest lists. Feel free to add your own.

List of:

— ways Donald Trump differs from the Republican Party as a whole

–- ways Trump would make America great

— Trump’s and Ted Cruz’s kindnesses to the poor and less fortunate

— criminal bankers punished by Democrats

— Republicans who have voted to punish criminal bankers

— instances when Trump has exhibited courage, toughness, compassion or morality

— Republicans who propose tax increases on the rich

— ways Hillary Clinton’s slow comment on Benghazi hurt America

— ways Clinton’s policies will differ from Barack Obama’s

–- occasions when Clinton refused money

— Wealthy people who give large political donations and expect nothing in return

–- Republicans who had something kind, good or generous to say about gays

— reasons Clinton, Trump or Cruz would help America more than would Bernie Sanders

— reasons college kids carrying guns on campus makes everyone safer

— reasons total strangers carrying guns on the street makes you safer

— reasons total strangers carrying guns in a bar makes you safer

— reasons alcohol is safer, healthier or better in any way than marijuana

–- reasons all Muslims are the same

–- things Trump doesn’t believe he is the greatest at

–- reasons an embryo is more important than a mother

–- evidences that the very poor are lazier than the very rich

–- evidences that the death penalty reduces crime

–- evidences that global warming is not being exacerbated by increased, man-made CO2

— ways the “War on Drugs” has worked

–- ways George W. Bush improved the lives of the middle and lower income American

–- reasons why free medical insurance for all Americans is a bad idea

–- reasons why free college for all Americans is a bad idea

— reasons state and local governments are more honest than the federal government

— the ways the federal government unintentionally can run short of dollars and be unable to pay its bills.

— reasons the federal government is poor and you are rich (so its debt is worse than your debt)

— reasons the federal debt is “unsustainable”

— reasons the federal deficit should be reduced

— instances when the Christian fundamentalist right acts as Christ would have acted

–- intelligent people who believe the NRA is not a shill for the gun manufacturers

— hyper-inflations in United States history

— U.S. recessions and depressions caused by excessive federal deficit spending

–- U.S. recessions and depressions not cured by increased deficit spending

— children who have become more patriotic as a result of chanting the “Pledge of Allegiance”

— honest politicians

— politicians who understand Monetary Sovereignty

–- people to whom you’ve successfully been able to explain Monetary Sovereignty an

Ironically, this list of shortest lists is long, and surely could grow longer. See if you can think of more very short lists.

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 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 grow the economy, and narrow the income/wealth/power Gap between the rich and you.
========================================================================================================================================================================================================================================================================================================

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

THE RECESSION CLOCK

Recessions begin an average of 2 years after the blue line first dips below zero. A common phenomenon is for the line briefly to dip below zero, then rise above zero, before falling dramatically below zero. There was a brief dip below zero in 2015, followed by another dip – the familiar pre-recession pattern.
 Recessions are cured by a rising red line.

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.

————————————————————————————————————————————————————————————————————————————————————————————————-

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..
•No nation can tax itself into prosperity, nor grow without money growth.
•Cutting federal deficits to grow the economy is like applying leeches to cure anemia.
•A growing economy requires a growing supply of money (GDP = Federal Spending + Non-federal Spending + Net Exports)
•Deficit spending grows the supply of money
•The limit to federal deficit spending is an inflation that cannot be cured with interest rate control.
•The limit to non-federal deficit spending is the ability to borrow.

•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..

MONETARY SOVEREIGNTY

Could it be any more stupid than this?

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

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

I thought Ted Cruz — the guy who wants to shut down the American government unless he gets his way — the guy who wants to “carpet bomb” the Middle-East, killing many thousands of innocent men, women and children — the guy who wants to devote police resources to “patrolling and securing” Muslim neighborhoods in the United States, while vowing to shrink oppressive government — yes, I thought Ted Cruz was exceptionally stupid.

(When I say “stupid,” I’m not talking just about pure IQ. I’m referring to people who lack the calm, logical reasoning skills needed in a working society.)

But then I thought about Donald Trump — the guy who said he receives no foreign policy advice and that he consults himself, because “I have a very good brain” — the guy who was so frightened by Megyn Kelly, he wouldn’t attend a debate at which she was a moderator — the guy who wanted to ban all Muslims from America, and build a wall paid for by Mexico and deport 11 million men, women and children — yes, that guy is even more stupid than Cruz.

And Cruz followers are even more stupid. And Trump followers are even more stupid, yet.

Have we reached the apex of stupidity? Could anything be more stupid than the Cruz/Trump/followers combo? Just when that seemed impossible, I read this in the March 27, 2016 Florida SunSentinel:

Campus gun law faces fire

Public colleges and universities in Texas will no longer be able to ban the concealed carrying of handguns when a new law takes effect in August.

The campus-carry law passed by the Republican-dominated Legislature last year was a victory for gun rights advocates, who say it will make campuses safer.

Yes, because young people are known for their common sense, their patience and their clear understanding of reality (except during times when they are awake), allowing them all to carry guns surely will make everyone safer — except for maybe professors.

In academia, it has spurred a movement of protesters who worry it will make schools more dangerous, hurt recruitment of faculty and students and create an atmosphere of fear that even affects how professors issue grades.

At least two professors have resigned.

One was Danile Hamermesh, who taught an introductory economics course, and said he feared that “a disgruntled student with a gun would ‘lose it,’ pull out the gun and shoot the instructor.

Who ever heard of such a thing — a student angry about a grade? A drunk student angry about his girlfriend. A student high on drugs angry about the outcome of a football game? Does that ever happen?

Max Snodderly, a professor of neuroscience, said, “Students get very angry if they feel they’re getting a grade they don’t deserve. I have students who come in absolutely red-faced — ‘Why did I get this grade?'”

Give a child a loaded gun in a high-stress situation like college, where drugs and alcohol are readily available, sex hormones are raging and the possibility of flunking out looms in the background.

What could possibly go wrong?

So the question: What could be more stupid than Cruz, Trump and their followers?

The answer: Gun nuts. These clearly are the most stupid people on the planet.

The jails are filled with them. And the cemeteries are filled with their victims.

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 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 grow the economy, and narrow the income/wealth/power Gap between the rich and you.
========================================================================================================================================================================================================================================================================================================

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

THE RECESSION CLOCK

Recessions begin an average of 2 years after the blue line first dips below zero. A common phenomenon is for the line briefly to dip below zero, then rise above zero, before falling dramatically below zero. There was a brief dip below zero in 2015, followed by another dip – the familiar pre-recession pattern.
 Recessions are cured by a rising red line.

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.

————————————————————————————————————————————————————————————————————————————————————————————————-

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..
•No nation can tax itself into prosperity, nor grow without money growth.
•Cutting federal deficits to grow the economy is like applying leeches to cure anemia.
•A growing economy requires a growing supply of money (GDP = Federal Spending + Non-federal Spending + Net Exports)
•Deficit spending grows the supply of money
•The limit to federal deficit spending is an inflation that cannot be cured with interest rate control.
•The limit to non-federal deficit spending is the ability to borrow.

•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..

MONETARY SOVEREIGNTY

Another wonderful day on the right

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

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

Imagine a twelve-year-old boy, sitting in the White House. He was elected President. The red phone rings.

The twelve-year-old will be asked to decide whether to fire ballistic missiles at Russia and China. The world hangs in the balance. The apocalypse is upon us.

The decision will require experience, knowledge, common sense and above all, calmness under fire.

Little Donny Trump, still raging about Megyn Kelly asking him a hard question, stops tweeting and picks up the phone . . .

It’s just another wonderful day on the right.

Donald Trump Just Took His Wife Feud With Ted Cruz to a Horrifying New Low

And just when we thought the fight for the Republican presidential nomination couldn’t get anymore farcical, Donald Trump gives us… more Trump.

The feud between the presumptive GOP nominee and runner-up Ted Cruz hit below the belt after the candidates’ wives got dragged into the mix. Continuing the back-and-forth, Trump posted a tweet on Wednesday with a rather… overt subtext.

monetary sovereignty

Donald Trump tweets vicious threat about Ted Cruz’s wife Heidi

Donald Trump is apparently thin-skinned when it comes to skin-baring photos of his former model wife.

The hate-spewing huckster, furious over an ad featuring a photo of his scantily clad wife, took aim at his rival’s own spouse in a vicious tweet Tuesday night.

“Lyin’ Ted Cruz just used a picture of Melania from a G.Q. shoot in his ad,” Trump tweeted. “Be careful, Lyin’ Ted, or I will spill the beans on your wife!”

The angry post apparently referenced an online ad put out earlier Tuesday by a conservative anti-Trump PAC featuring a provocative photo of the mogul’s wife Melania.

Ted Cruz hit back at Trump in his own tweet, labeling Trump a “coward.”

“If Donald wants to get into a character fight, he’s better off sticking with me, because Heidi is way out of his league.”

The Texas senator claimed the billionaire’s low blow was not presidential behavior. “It reveals a lot about character. It reveals a lot about class … That should be beneath him,” he added.

It’s not clear how low someone would have to slide in order to be “beneath” Donald Trump. But Ted Cruz is trying:

Libertarians bristle at Cruz’s call to ‘patrol and secure’ Muslim neighborhoods

NEW YORK — Sen. Ted Cruz has spent his time in government vowing to preserve civil liberties, often citing the Fourth Amendment to voters on the campaign trail and vowing to shrink government.

But Cruz (R-Tex.) has alarmed some libertarians this week with his proposal to have law enforcement “patrol and secure” Muslim neighborhoods in the United States, which they see as the type of invasive federal program that encroaches on personal freedom.

No one knows what exactly a “Muslim neighborhood” is, nor how “securing it” actually works, but Cruz’s panicky response to European terrorists does not bode well for freedom in America.

Cruz embroiled in sex scandal as Trump denies involvement

TEXAS senator Ted Cruz is embroiled in a sex scandal befitting the bizarre nature of the current the Republican race for the presidential nomination.

An angry Cruz has accused “Donald Trump and his henchmen” of feeding the National Enquirer a salacious story claiming the conservative Christian politician has had extramarital affairs with five different women.

“This National Enquirer story is garbage. It is complete and utter lies,” Cruz snapped after a campaign stop in Oshkosh, Wisconsin on Friday.

“It is a tabloid smear, and it is a smear that has come from Donald Trump and his henchmen.”

The supermarket tabloid did not identify them by name, but published pixelated headshots of the women with black bars across their eyes.

The red phone rings. The new President, little Teddy Cruz decides to carpet bomb the Middle East, murdering millions of innocent men, women and children.

World War III begins.

It’s another wonderful day on the right.

Ted Cruz Does Not Understand What ‘Carpet Bombing’ Means
But he’s still really into it, whatever it is.

WASHINGTON — Ted Cruz on Sunday stood by his claim that the U.S. should “carpet bomb” the Islamic State group out of existence and falsely stated that the George H.W. Bush administration carpet bombed Iraq during the first Gulf War.

“You wanna know what carpet bombing means?” Cruz said, invoking the first Iraq War in 1991. “We were launching 1100 air attacks a day. We were carpet bombing.” As a result of this bombing campaign, Cruz said, U.S. troops “mopped up the remains of the Iraqi army” with ease.

The United States did not carpet bomb Iraq or Kuwait during the 1991 Gulf War. The airstrikes were highly targeted and thus highly effective, as military experts told The New York Times.

“Carpet bombing” is not even a term used by the American military. But it is generally understood to be the indiscriminate bombing of large geographic areas without regard for potential civilian casualties.

When did the right-wing lose all moral connection with America? Perhaps, it’s in their DNA. How else to explain the following?

NRA Rewrites Fairy Tales, Puts Guns in the Hands of Classic Characters
By MARGARET CHADBOURN

NRA Family, the group’s family-oriented website, has so far published updates to two classic fairy tales, the most recent one last week: “Hansel and Gretel (Have Guns).”

The pro-gun group said the revised stories show what would have happened if those fairy tale characters had weapons.

“The NRA continues to stoop to new lows in the hopes of shoving guns into America’s youngest hands,” Dan Gross, president of the Brady Campaign to Prevent Gun Violence, said today.

“It must now advertise deadly weapons to kids by perverting childhood classics with no regard whatsoever for the real life carnage happening every day. To be frank, it’s pathetic.”

The NRA’s revisions of classic fairy tales tell us that little children should carry loaded guns to protect themselves.

In right-wing world, children supposedly have the experience, the common sense and the emotional stability to know when to shoot lethal weapons and when not to.

This belief in children is obvious to the ignorant mind.

And just as obvious:  Adolescent, volatile juveniles, who engage in high-school Twitter battles, are perfect models for President of the United States.

That’s what America and the world needs: An immature, volatile man-child, sitting in the Oval Office, with his finger on the button.

Yes, it’s another wonderful day on the right.

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 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 grow the economy, and narrow the income/wealth/power Gap between the rich and you.
========================================================================================================================================================================================================================================================================================================

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

THE RECESSION CLOCK

Recessions begin an average of 2 years after the blue line first dips below zero. A common phenomenon is for the line briefly to dip below zero, then rise above zero, before falling dramatically below zero. There was a brief dip below zero in 2015, followed by another dip – the familiar pre-recession pattern.
 Recessions are cured by a rising red line.

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.

————————————————————————————————————————————————————————————————————————————————————————————————-

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..
•No nation can tax itself into prosperity, nor grow without money growth.
•Cutting federal deficits to grow the economy is like applying leeches to cure anemia.
•A growing economy requires a growing supply of money (GDP = Federal Spending + Non-federal Spending + Net Exports)
•Deficit spending grows the supply of money
•The limit to federal deficit spending is an inflation that cannot be cured with interest rate control.
•The limit to non-federal deficit spending is the ability to borrow.

•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..

MONETARY SOVEREIGNTY