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Mitchell’s laws:
●The more federal budgets are cut and taxes increased, the weaker an economy becomes.
●Austerity is the government’s method for widening the gap between rich and poor, which ultimately leads to civil disorder.
●Until the 99% understand the need for federal deficits, the upper 1% will rule.
●To survive long term, a monetarily non-sovereign government must have a positive balance of payments.
●Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
●The penalty for ignorance is slavery.
●Everything in economics devolves to motive.
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The vast majority of federal deficit spending benefits the middle- and lower-income groups far more than it benefits the rich. So deficit reduction increases the gap between the rich and the rest.
The gap is what makes the rich rich. If there were no gap, no one would be rich, and the wider the gap, the richer the rich are.
Last month we published How to bribe the President, in 3 easy steps. It told how the upper 1% income group has bribed President Obama (via campaign contributions and promises of lucrative employment later) to widen the gap. Call this the “Clinton syndrome.”
President Clinton created massive deficit reduction, which led to a recession, and the grateful super-rich give him a big library in Little Rock, Arkansas, plus opportunities to make millions of dollars — opportunities he eagerly embraced.
Bill Clinton’s $106M speech circuit windfall
Clinton had most active, profitable year on lecture circuit in 2012
By Robert Yoon CNN Political Research DirectorAs former Secretary of State Hillary Clinton embarks on her new career as a paid speaker, she joins a lucrative family business that already has earned her husband more than $100 million since leaving office in 2001.
Like President Clinton, President Obama has a back-scratching relationship with the rich. To widen the gap, he gives them an increase in FICA (the most regressive tax in U.S. history) and his “Grand Bargain,” a toxic mixture of tax “broadening” (i.e. forcing the lower income groups to pay more) and cuts to social services.
He also gives them cushy jobs:
Washington Post
Obama appoints big money fundraisers to diplomatic postsThree fundraisers who helped to raise millions for President Obama’s reelection were appointed to coveted diplomatic posts by the president Friday.
Rufus Gifford, who was Mr. Obama’s chief fundraiser in 2012, was appointed ambassador to Denmark.
John B. Emerson, who was cochair of the Democratic National Committe’s southern California finance committee, was nominated by Mr. Obama to become ambassador to Germany.
And HBO executive James Costos was nominated to become U.S. ambassador to Spain.
Mr. Emerson was a top fundraiser for Mr. Obama in 2012 who helped to organize events that raised more than $4 million from entertainment industry celebrities such as George Clooney.
Mr. Costos and Mr. Smith raised well over $500,000 from other donors for Mr. Obama’s reelection.
One might argue that these three men were the best possible choices for ambassadorships to such luxurious posts as Denmark, Germany and Spain.
Or, one might argue that Denmark, Germany and Spain aren’t very important, from the standpoint of ambassadorships, so it wouldn’t matter if inexperienced dolts were given those yearned-for jobs.
Or, one might argue that this is just part of the “You take care of me and I’ll take care of you” bribery that passes for honest decision-making in Washington.
While the inexperienced rich fundraisers get golden ambassadorships in Denmark, Germany and Spain, the experienced, talented career diplomats get ambassadorships in the like of Benghazi, Libya. Rather than enjoying celebrity hobnob parties, they do actual work, while risking death every day.
If you wonder why the middle- and lower-classes are being crushed, while the upper classes ride the gravy train —
If you wonder why unemployment remains stubbornly high, while a Monetarily Sovereign government that can afford anything fires thousands of middle-class employees —
If you wonder why no rich, thieving banker has gone to jail —
If you wonder why a President who pretends to love the underdog, gives all his loving to the “overdogs” —
The answer is straightforward: President Obama has been, and will continue to be, bribed.
It is not economic ignorance that has President Obama pushing austerity. He knows exactly what he is doing.
He knows takes care of the rich now, and widens the gap, the rich will take care of him, his wife and his daughters, later. It’s the Chicago way. It’s the Washington way.
When he arises each morning, he asks himself, “Can we Obamas make as much as the Clintons?”
“Yes, we can.”
Rodger Malcolm Mitchell
Monetary Sovereignty
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Nine Steps to Prosperity:
1. Eliminate FICA (Click here)
2. Medicare — parts A, B & D — for everyone
3. Send every American citizen an annual check for $5,000 or give every state $5,000 per capita (Click here)
4. Long-term nursing care for everyone
5. Free education (including post-grad) for everyone. Click here
6. Salary for attending school (Click here)
7. Eliminate corporate taxes
8. Increase the standard income tax deduction annually
9. Increase federal spending on the myriad initiatives that benefit America’s 99%
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.
Two key equations in economics:
1. Federal Deficits – Net Imports = Net Private Savings
2. Gross Domestic Product = Federal Spending + Private Investment and Consumption – Net Imports
#MONETARY SOVEREIGNTY
#Monetary Sovereignty - Mitchell 