–Thank you for my handy excuse to be cruel and cowardly

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

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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In a recent post, we asked, Why do we bully the poor?

The discussion had to do with the psychological need of the rich to bully the “not-rich,” and the receptivity of the “not-rich” to join in the bullying.

Each income class tries to distance itself from the income classes below it, and to emulate the income classes above it.

By its very nature, bullying is cruel and cowardly, because it relies on the victim’s inability to defend himself. But ask people why they bully, and you will receive a rationale that denies cruelty or cowardice: “They asked for it.” “They caused it.” “It’s because of the way they act.”

Bullies use lies to blame their victims. And so it is with economic bullying. Here are the two BIG LIES the rich use, to justify their bullying:

The Big Lie #1. We taxpayers pay for federal deficit spending.

The myth: The federal government’s finances are like my household finances. I must balance my budgets so the federal government must balance its budget.

The fact: The federal government is Monetarily Sovereign; I am not. The federal government creates money, so does not need income. I don’t create money, so I do need income.

Even if federal taxes fell to $0 and deficit spending tripled, the federal government, would not run short of dollars to pay its bills.

——————–

The Big Lie #2. Federal money “printing” causes inflation.

The myth: That’s what happened to the Weimar Republic and Zimbabwe.

The fact:There is no relationship between federal deficit spending and inflation.

Germany’s economy was destroyed by the Allies; Zimbabwe’s economy was destroyed by Robert Mugabe.

Here is the result of economic bullying by the rich, which is endorsed by much of the “not-rich.”

Feuding House To Vote On Cantor-Led $40 Billion Food Stamp Cuts
September 16th, 2013, Elissa Gomez

The House is expected to vote soon on a Republican-backed bill that would cut $40 billion from the food stamp program, formally known as the Supplemental Nutrition Assistance Program (SNAP).

The nearly $80-billion-a-year program currently provides food aid to an estimated 47 million Americans. The proposed bill would cut the program in half.

“There are 50 million people in the United States of America who are hungry, 17 million are kids. It is something we all should be ashamed of, and the United States House of Representatives is about to make that worse,” said Representative Jim McGovern (D-MA).

Does this meet the standards of cruelty and cowardice? Adults and children who use food stamps are short of money to buy food. And they are the least powerful people in America.

Each day, the Tea Party Republicans demonstrate their incredible cruelty and cowardice, by punishing the poor and sucking up to the rich. Unfortunately, the hungry and powerless receive only half-hearted defense, even from the Democrats.

In June, Democrats pulled support that would have cut $20.5 billion from SNAP, calling the cuts too deep. That original bill also met with opposition from some Republicans who felt the cuts were not harsh enough.

Classic “good cop; bad cop.” Both parties want to cut aid to the poor, the only question being how much.

In usual bully fashion, the politicians provide rationales that deny their cruelty or cowardice:

Republican Iowa representative Steve King described the goal of the bill as a way to “ensure that while you have a safety net you shouldn’t be giving welfare benefits to people who are able-bodied and capable of getting a job who just choose to continue to get food stamps.”

Rep. Stephen Fincher (R-TN) made a religious argument, saying, “The role of citizens, of Christianity, of humanity, is to take care of each other, not for Washington to steal from those in the country and give to others in the country.”

Translation: It’s all the fault of the poor. They could find jobs, but don’t want to. We are very religious and charitable, but we don’t want to give to the lazy, poor adults and their lazy children.

Never mind that taxpayers do not pay for federal spending. Never mind that being poor and hungry seldom is caused by laziness. So long as the rich can provide us with rationales for cruelty and cowardice, we eagerly to use them.

Thank you rich people, for giving me a handy excuse to act just like you, and to distance myself from the poor: It’s all the fault of the poor.

Rodger Malcolm Mitchell
Monetary Sovereignty

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Nine Steps to Prosperity:
1. Eliminate FICA (Click here)
2. Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Send every American citizen an annual check for $5,000 or give every state $5,000 per capita (Click here)
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
8. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)
9. Federal ownership of all banks (Click here)

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

THE RECESSION CLOCK

As the lines drop, we approach recession, which will be cured only when the lines rise.

#MONETARY SOVEREIGNTY

–At last, rational arguments from those opposing gun control

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

Do we need some form of gun control? Today’s headline in the Washington Times was, Colorado voters deal blow to gun control with stunning recall of 2 Democrats, By Valerie Richardson-The Washington Times.

Read some of the comments by those who have read the article. Then, ask yourself, “Are these the people we should trust carrying loaded, semi-automatic guns with large clips?”

• Bloomberg is crying tonight.
He should stick to his idiotic holy war against large sodas and table salt because Americans still love their constitutional rights.

• Yeah, the COURTS decided they did not care for his NAZI tactics, all Radical Dems are nothing but Commies, and potential terrorists,count on them to always TAKE away your rights, always.
Just look at what we have for an excuse for a POTUS.A freaking Socialist Radical.

• Though he is a socialist radical, and that can’t be denied — it’s becoming apparent that he’s even more ominous. According to the now betrayed Egyptian faction of the Muslim Brotherhood – Obama is a member of the Islamic Brotherhood. When you consider his policies it gives credence to that.

In Egypt he ousts our ally and invites in the Brotherhood. When the people of Egypt threw out Morsi, Obama didn’t applaud. He brooded quietly to see if he could help the deposed faction return to power. He took out the neutered, reformed, terrified-into-behaving-well Kadaffi and let the Muslim Brotherhood have Libya.

All these middle eastern leaders are tyrants, Assad no less so — but here again he wants to help the Brotherhood and its coalition of terrorist groups. The tyrants are the only option in nations infested with Islamic extremism. He knows that. He knows that removing dictators brings a new member to the coalition that will form the Caliphate. We are dealing with evil of monumental proportions. Have you heard one single syllable of regret or alarm that Christians are being killed. No, you haven’t. Obama posed as a Christian for political advantage. He’s a cold-blooded liar, which is why his lies are not visible to most. He killed Osama, he likes to say. That proves nothing. When one Mafia don kills another it isn’t proof that he’s not a mafiosa — it’s proof that he is.

When O was first elected the O’Reillys of the world said they “weren’t buyin’ it,” that he was a socialist. Now communist is a more appropriate term and Islamic radical is gaining plausibility.

• Obama had two moslem Fathers. What were they Sheite or Sunni. What group is the Brotherhood… just asking.

• Its what propagandists and Democrats do, they twist words and deny, they go by their god Alinsky the Communist.

• Thanks to Bloomberg and Democrats like these two freshly recalled, I buy one box of my favorite ammo less every month and donate the amount to the NRA instead so they can keep up the good fight.

There were four million of us prior to 2012 elections. There are five million of us now. There are 95 million as yet unaffiliated gun-owners and altogether we legally own 300 million guns (and growing).

You guys are doing a bang-up job motivating us to safeguard our rights.

• It was the will of the people against big out of state government and going against the Constitution of the United States. Unless the Democrats roll back Senator Feinstein’s and Janet Reno’s Gun Free Zone that has drawn kid killers out of the woodwork there will be more elections like this. Get rid of “Gun Free Zone’s” before there is another massacre of innocents, what does the Democrats want, more bodies? Democrats are still making schools targets for the deranged.

• YOU got it, WHERE have all the heinous attacks happened?,in GUN FREE ZONES.
What cities and states have the higjest murder rates,the one’s with the toughest gun control laws.

• If you think the 2nd Amendment is evil, you probably don’t have much respect for the 1st Amendment either, and in your case, it shows!

• I have never said the Second Amendment is evil. I think the second amendment is a valuable one, however, I think some gun-toting nuts are too extreme with their guns. We have guns in our home – both handguns and rifles -but, I don’t feel I need a 50 bullet clip to shoot. If I did, I would need to go back to the shooting range.

• If you don’t want those fine. I do. So mind your own freakin business!

Bottom line, gun control laws are bad because:

1. Bloomberg is against salt and soft drinks

2. Bloomberg uses NAZI tactics. People who want gun control are Radical Dems, commies and potential terrorists and Obama is a Socialist, Islamic Radical

3. Obama is a member of the Muslim Brotherhood, a communist and a socialist – and he had two moslem Fathers.

4. Propagandists and Democrats go by their god, Alinsky the Communist

5. GUN FREE zones draw kid killers out of the woodwork

6. The cities and states with the highest murder rates have the toughest gun laws.

Who could deny such impeccable logic?

Visualize these folks carrying guns. Visualize getting into an argument with them, perhaps in a bar or while driving. Visualize them being really, really angry at you.

Pray the Supreme Court would step in to protect you.

Rodger Malcolm Mitchell
Monetary Sovereignty

As the lines drop, we approach recession, which will be cured only when the lines rise.

#MONETARY SOVEREIGNTY

–Warren Mosler for Fed chairman

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

This will be quick.

God is in his heaven and all is well with the world:

Larry Summers Withdraws Name From Fed Consideration
Julie Pace & Martin Crutsinger, September 15, 2013

Summers’ withdrawal followed growing resistance from critics, including some members of the Senate committee that would need to back his nomination.

Even the politicians and Barack Obama couldn’t handle the heat from sheer truth: Larry would have been the worst choice imaginable (along with his pals, Moe and Curly.)

Summers’s “withdrawal” is a Godsend that probably went something like this:

(Obama: “Larry, appointing you would be too stupid even for me, so you’ll have to, ahem, ‘withdraw.'”)

(Summers: “Gee, do I have to? If you make me quit, I won’t contribute to your Obama Presidential Library.”)

(Obama: “I don’t care, now that I have Penny Pritzker.”)

(Summers: “Well, O.K., but please don’t appoint a women. As you know, women aren’t capable.”)

This leaves us with the question of whom to appoint. I’ve seen a couple mentions of Warren Mosler’s name as a candidate for Fed Chairman — not exactly a groundswell, but at least a handful of people are thinking correctly.

Warren would be terrific, and the country would benefit greatly. I suggest that you contact your politicians and everyone you know, and tell them to contact their politicians and everyone they know — TODAY — and suggest, no, DEMAND, that Warren Mosler be our next Fed Chairman.

At long last, install sanity in the Federal Reserve and Congress and the White House.

If you want to know more about Warren Mosler’s thinking, check out: http://moslereconomics.com/

Hey, is http://www.MoslerforFedChairman.com available?

Rodger Malcolm Mitchell
Monetary Sovereignty

As the lines drop, we approach recession, which will be cured only when the lines rise.

#MONETARY SOVEREIGNTY

–Why do we bully the poor?

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

Cynthia Tucker, winner of the 2007 Pulitzer Prize for commentary and a visiting professor at the University of Georgia, wrote a blog post from which we’ll quote a few passages:

Last month, the GOP-dominated House passed an agriculture bill that omitted funding for the food stamp program — partly because the Republican caucus disagreed over whether cuts to the program should be merely harsh or extremely severe.

Not so long ago, hardliners sought to cloak this sort of cruelty in the language of the greater good: the need to reduce government spending. But last month’s bill didn’t even attempt that pretense: It included billions in agricultural subsidies for wealthy farming interests, including some Republican members of Congress.

Of course, the “need” to reduce government spending is in itself a lie that is cloaked. There is absolutely no such need.

In fact, reductions in government spending lead to recessions and depressions, while increases in government spending lead to recoveries. The reason is straightforward: Mathematically: Gross Domestic Product = Federal Spending + Non-federal Spending + Net Exports.

Basic algebra shows that reduced federal spending growth must result in reduced GDP growth. No economic mechanism exists whereby spending decreases can increase economic growth.

Spending decreases increase the gap between the rich and the rest — which is why those politicians most bribed by the rich are most in favor of reductions in federal deficit spending.

Further, no one pays for federal deficit spending — neither taxpayers, nor taxpayers’ children nor grandchildren. Not now. Not in the future. No one pays anything. That’s the way it works in a Monetarily Sovereign government.

So why does the middle class resent cost-free federal spending for food stamps, unemployment compensation and other forms of welfare?

About 20 percent of [Atlanta Food Bank] beneficiaries report that this is the first time they’ve ever asked for assistance from government or charitable programs. Among them are people who once belonged to the secure middle class; some were formerly donors or volunteers at the food bank.

Bill Bolling, founder and executive director of the Atlanta Community Food Bank, said, “They’re keeping their part of the social contract. They are getting up every day and going to a job, maybe two jobs. If a man gets up and goes to work every day, I don’t care what his job is, he ought to be able to feed his family.”

And a government, having the unlimited ability to create money, ought to help its citizens feed their families. But, of course, that is not want the rich want. Destitution and desperation help build a large servant class for the rich.

Conservative critics speak contemptuously of those struggling to make ends meet, to describe a lazy “47 percent” who want nothing but handouts, to dismiss those who can’t make ends meet as responsible for their own hard luck.

Some of that hostility toward struggling Americans can be explained by a racial antagonism that presumes that most of them are black or brown.

That’s the “food stamp mama” image implanted in the public’s mind, by the rich-owned media — a false image as it turns out.

Programs like food stamps are understood by whites to largely benefit shiftless black people.

[But] the Great Recession laid waste to the finances of many white families, too. They (whites) account for about 35.5 percent of food stamp recipients. Black Americans are disproportionately represented, but account for only about 23 percent. Latinos account for about 10 percent of recipients

The motivation of the rich to bully the middle and lower classes is clear: To widen the income/wealth/power gap. But why is the middle class so ready to join in the bullying?

And that is the key word: “Bullying.” Children do it. When a weak child is bullied by a strong child, many others will join in. Why?

Not being a professional psychologist, I can only guess that the motive is self-protection. A child may feel the need to distance himself from the weak and to align himself with the strong. If he can join in kicking the weak, he himself will not be kicked, and he even may gain approval from the strong.

So we have the spectacle of middle- and even lower-income people sneering at those receiving food stamps, unemployment payments or other poverty-associated benefits, when they themselves soon may need such benefits. It’s illogical, but instinctive, and instinct beats logic every time.

Instinct allows the so-called “religious” right to turn people against themselves. The populace actively wants to believe those right-wing lies that the poor are worthless, good-for-nothings, who would rather wallow in poverty and feed from the government trough, than work to earn an income.

This belief supplies the weak with a justification for bullying the weaker.

I know such people. A couple are even in my own family. I’ve found that no facts, no statistics, no logical proofs will sway them. They simply know in their hearts that the poor must be treated with a firm, ruthless hand to “teach them a lesson” and to keep them from “beating the system.”

Thus as the rich watch laughing, the middle-class does their dirty work, an effort that always turns back against the middle.

The middle class is finding that what goes around, comes around. Will the lesson never be learned?

Rodger Malcolm Mitchell
Monetary Sovereignty

As the lines drop, we approach recession, which will be cured only when the lines rise.

#MONETARY SOVEREIGNTY

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