We depend on our doctors to understand medicine. When our doctors err, we are injured. So, wouldn’t you be angry if you learned your doctor never had studied medicine, never even wanted to understand basic medical procedures, and instead followed popular superstitions about curing illness?

We depend on our lawyers to understand the law. When our lawyers err, we are injured. So, wouldn’t you be angry if you learned your lawyer never had studied the law, never even wanted to understand basic legal procedures, and instead followed popular myths about laws, myths based not on legal rulings but on jailhouse rumor?

We depend on our politicians to understand economics. When our politicians pass a bad law, we are injured. It can cost our loved ones and us our fortunes, even our lives. So, wouldn’t you be angry if you learned your political representative never had studied economics, never even wanted to understand the basics of economics, and instead relied on popular myths about economics, based not on science, but on street myth?

Doctors and lawyers are jailed for practicing medicine or law without appropriate licences, which can be obtained only after years of difficult study based on strict criteria. But for politicians, there are no criteria. Any lazy, uneducated fool can be a politician, who once elected, can cast votes on bills that will ruin your life.

Politicians arguably have more impact on us than do doctors and lawyers, yet there are no minimum requirements for this vital responsibility. Able to read? Not necessary. Able to reason? No need. Unwilling to learn? No problem. Honesty? Are you kidding?

Monetary Sovereignty, is the very basis of economics. Anyone who does not understand the implications of Monetary Sovereignty, simply does not understand economics. Would you try to practice medicine without knowing what a germ is? Would you try to practice American law without knowing what precedent is? Yet, politicians vote on your economic future without understanding economics. Monetary Sovereignty, is to economics as arithmetic is to mathematics. It is impossible to understand the later without understanding the former.

I have seen no evidence that any of our Senators, Representatives and even the President has the slightest understanding of Monetary Sovereignty, nor willing to expend the energy to learn. Seemingly, they would rather rely on intuition and Tea Party wisdom than on science, as each day they make decisions that harm millions of us.

So we have the spectacle of ignorance threatening to shut down the government via a useless debt ceiling — no not useless, harmful — unless they are allowed to tax us more and/or reduce Medicare, Social Security, national defense, education, health care, medical research, energy research, the ecology, the infrastructure and indeed depress virtually every aspect of our lives. And why? Because these elected representatives either are too political, too lazy or too ignorant to understand the “federal deficit” is not at all like personal deficit, but rather merely is a synonym for “federal money created.”

These elected representatives either are too political, too lazy or too ignorant to understand the “federal debt” merely is the total of outstanding T-securities, which could be liquidated merely by crediting the bank accounts of the holders, a process requiring nothing more than the press of a computer key.

So we, our children and our grandchildren, must pay today, pay tomorrow and pay well into the future for political ignorance and laziness. And all the politicians need to do is read and understand one page at: Monetary Sovereignty,.

If that makes you angry, and you refuse to take it any more, contact them. Do it now.

Rodger Malcolm Mitchell
http://www.rodgermitchell.com

No nation can tax itself into prosperity, nor grow without money growth.

House Speaker John Boehner was asked about the probability that the GOP plan to cut $100 billion from government spending would cause federal job cuts: He replied, “Over the last two years since President Obama has taken office, the federal government has added 200,000 new federal jobs. And if some of those jobs are lost in this, so be it. We’re broke. It’s time for us to get serious about how we’re spending the nation’s money.”

Two problems with this:

1. We’re not “broke.” As a Monetarily Sovereign government, the U.S. has the power to pay any bill of any size. No federal check ever has bounced and none ever will (unless this silly Congress fails to raise their silly debt ceiling) – not even during the Great Depression, and not even during the worst recession in recent history, and not even while spending trillions to cure that recession.

In short, John Boehner simply does not know what the heck he is talking about. The man is completely ignorant of modern economics and is using that ignorance to guide the American economy. Visualize the Large Hadron Collider run by Mortimer Snerd (You young folks can look him up.)

2. The GOP repeatedly criticized the Obama initiatives for failure to add jobs, but their own “job-killing” (GOP phraseology) plan receives a shrug and a “. . . so be it.”

Not that the Democrats are without guilt. Obama wishes to “pay for” federal spending by raising taxes on the rich. Two problems with this:

1. In a Monetarily Sovereign government, taxes do not “pay for” spending. In fact, federal taxes have zero relationship to federal spending; the two processes are completely separate, independent and unconnected. The proof: We could eliminate federal taxes without changing federal spending, and we could eliminate federal spending without changing federal taxes. Federal taxes are a relic of the gold standard days.

2. Soaking the rich either is meaningless or harmful, depending on how successful it is. The more taxes collected, the more damage is done. Contrary to popular myth, taxing the rich does not add one penny to the pockets of the poor, in fact, such taxes remove money from the pockets of the poor. (See: Does taxing the rich help the poor? )

So here is what I think will happen, based on what we know now: The economy will grow, albeit slowly, for the next three years, because of projected, large, so-called “deficits” (i.e., money creation), while Congressional ignorance and hubris will cause a continual struggle to maintain spending on beneficial projects.

The poor and the jobless will be the primary losers, as these beneficial projects will be squeezed. Obama repeatedly will play the class-warfare card, using poverty as evidence taxes on the rich should be increased. (Visualize warming the poor by shredding the clothes of the rich.)

After three years, when fiscal “prudence” (i.e., reduced money creation) takes hold, the economy will tank, again. Meanwhile, the right will offer a plan to solve the economic problem: Eliminate abortion and Medicare, and allow everyone to carry a gun. The left also will offer a plan: Raise taxes on everyone making “too much” money and require the states (who really are broke) to absorb more unfunded mandates for the poor.

In answer to the title question, ‘Who cares about jobs?”, Congressmen and Congresswomen do. But, it’s their own jobs, not yours.

Rodger Malcolm Mitchell
http://www.rodgermitchell.com

No nation can tax itself into prosperity, nor grow without money growth.