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.
======================================================================================================================================================================================

Wise heads in the Republican Party can count. They see the results of the last Presidential election. They realize they have alienated large segments of the voting population — blacks, browns, gays, women, non-Christians, immigrants, young people — just about everyone except older, white males.

Further, under the heading “You’re known by your friends,” having such friends as Glenn Beck, Ben Shapiro, (Editor-at-Large of Breitbart News), Judson Phillips (Tea Party Nation founder) and Rush Limbaugh, is not likely to give the Republicans a new, sane and compassionate image.

Even further, wise Republican heads have come to understand that their selection of crazies and incompetents to be Presidential candidates, made the Party itself look crazy and incompetent. After all, Herman Cain, Michele Bachmann, Rick Santorum, Newt Gingrich, Rick Perry et al, each of whom actually led the right wing polls, are not about to inspire enthusiasm among thoughtful voters.

But, at long last, the Republicans are attempting to shed their mean-spirited, extremist image:

Cruz crushes field in presidential straw poll at Values Voters Summit
By Seth McLaughlin-The Washington Times Saturday, October 12, 2013

Sen. Ted Cruz trounced the competition in the presidential straw poll at the 2013 Values Voters Summit, with Dr. Ben Carson and former Pennsylvania Sen. Rick Santorum

Ted Cruz? Ben Carson? Rick Santorum? These are the candidates who will soften the right wing, extremist image of the Republican Party?

Oops.

Mr. Cruz was one of a handful of conference speakers — including Sens. Rand Paul of Kentucky and Marco Rubio of Florida

Rand Paul? Marco Rubio?

Oops. Oops.

Rep. Michele Bachmann also addressed the summit and has not ruled out another presidential campaign.

Michele Bachmann?

OOPS!

Dr. Carson, Mr. Cruz and Mrs. Bachmann were the top choices for vice president.

Well that nails it. Clearly, lesson learned.

South Carolina House passes bill making ‘Obamacare’ implementation a crime
By Jessica Chasmar-The Washington Times Thursday, May 2, 2013

The South Carolina state House passed a bill Wednesday that declares President Obama’s Patient Protection and Affordable Care Act to be “null and void,” and criminalizes its implementation.

The state’s Freedom of Health Care Protection Act intends to “prohibit certain individuals from enforcing or attempting to enforce such unconstitutional laws; and to establish criminal penalties and civil liability for violating this article.”

Sigh.

Rodger Malcolm Mitchell
Monetary Sovereignty

====================================================================================================================================================
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 federal deficit growth lines drop, we approach recession, which will be cured only when the lines rise.

#MONETARY SOVEREIGNTY

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.
======================================================================================================================================================================================

Here is absolute proof the right wing does not discriminate against minorities and the poor. In fact the Republicans love those folks.

New York Times
2 States Plan 2-Tier System for Balloting
By FERNANDA SANTOS and JOHN ELIGON

Barred by the Supreme Court from requiring proof of citizenship for federal elections, Arizona is complying — but setting up a separate registration system for local and state elections that will demand such proof.

The state this week joined Kansas in planning for such a two-tiered voting system, which could keep thousands of people from participating in state and local elections, including next year’s critical cycle, when top posts in both states will be on the ballot.

See, the Supreme Court ruled that requiring proof of citizenship was unconstitutional. But aha! They only ruled on federal elections. Let’s require it for local elections. Gotcha!

“If you require evidence of citizenship, it helps prevent people who are not citizens from voting, and I simply don’t see a problem with that,” said Tom Horne, the Arizona attorney general.

O.K., so we have to allow that hoard of non-citizens who have been voting in national elections, but we can stop the flood of illegal voting in local elections.

“How much illegal voting has there been,” you ask. Well, uh, we don’t know of any. But by gosh, we’re going to put a stop to it, even if it means disenfranchising a few hundred thousand people.

On Monday, Mr. Horne instructed county election officials to create separate rolls for voters who signed up using the federal form and those who used the state form, the first step to determining eligibility. In Maricopa County, Arizona’s largest, the exercise turned up 900 people who did not show proof of citizenship, a small fraction of the roughly 1.9 million county residents registered.

That’s .0005 of the total, and even that only counts people who didn’t show proof, not people who aren’t citizens, presumably an even tinier number.

Bottom line: If you’re black, brown, poor, on Social Security, on Medicare or need any other help from the government, tell me again why you would vote Republican.

Note to Republicans: At long last, have you left no sense of decency?

Rodger Malcolm Mitchell
Monetary Sovereignty

====================================================================================================================================================
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 federal deficit growth lines drop, we approach recession, which will be cured only when the lines rise.

#MONETARY SOVEREIGNTY

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.
======================================================================================================================================================================================

In the June 12, 2013 post titled, “This graph predicts the future. What does it tell you,” we showed you this graph:

The FRED series, Total Credit Market Debt Owed by Domestic Nonfinancial Sectors – Federal Government, is now known as Federal Government; Credit Market Instruments; Liability.

And we asked four questions:

1. What does the federal government do in the years leading up to recessions? (Answer: Cut growth in deficit spending)

2. What does the government do that cures recessions? (Answer: Increase growth in deficit spending)

3. What is the government doing now? (For a clearer picture, the next graph is a closeup of the most recent past)

4. Why is the government cutting deficit spending growth, despite overwhelming evidence this causes recessions? (Because of the false premises that the federal government can run short of dollars, or by creating dollars, could cause inflation.)

——————————————————————————————-

Now another quarter has been posted by the Fed, and the update looks like this:

As growth in federal deficit spending continues to decline, the next recession draws closer.

Rodger Malcolm Mitchell
Monetary Sovereignty

====================================================================================================================================================
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 federal deficit growth lines drop, we approach recession, which will be cured only when the lines rise.

#MONETARY SOVEREIGNTY

The AFL-CIO website complains (rightly) about the Tea/Republicans desire to gut Social Security:
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.
======================================================================================================================================================================================
I just received an Email from the AFL-CIO. Here are some excerpts:

A letter from 51 Republican House members to Speaker John Boehner (R-Ohio) makes Social Security cuts the latest ransom demand of the Republican hostage-takers in Congress. This may be unwelcome news to the many tea party Republicans who depend on Social Security benefits.

The letter says that “Social Security provides us the best opportunity to begin solving our nation’s significant budget imbalances” and that “the ongoing fiscal discussions in Congress provide an opportunity to address entitlement program deficits…with our limited time frame to take action before we run up against fiscal deadlines.”

In other words, let’s use Social Security to reduce the deficit, and let’s use this manufactured budget crisis to get our way.

Cutting Social Security would widen the gap between the rich and the rest. That may be why the Tea/Republicans AND President Obama, want to cut it. The rich are the big political contributors.

The cover letter from Rep. Reid Ribble (R-Wis.) specifically identifies three “well-known options” to cut Social Security benefits:

*Cutting Social Security benefits with a chained CPI cost-of-living formula;
*Raising the Social Security retirement age; and
*Means-testing Social Security benefits.

All three proposals have but one goal: To satisfy the demands of the mega-rich campaign donors, and to squeeze the middle- and lower-income classes.

Ribble spells out exactly how the upcoming “fiscal deadlines” can be used to get these Social Security proposals through Congress. First, you increase the debt ceiling for six weeks, then in the intervening six weeks you attach Social Security legislation to a longer-term increase in the debt ceiling.

Yep, that’s the plan. And watch President Obama eagerly embrace it. Here’s what he wants:

Obama’s Social Security Cut Proposal

*Reduce the deficit by $1.8 trillion over ten years — $600 billion of this reduction would come from revenue raisers, and $1.2 trillion would come from spending reductions and entitlement reforms;

*Change the benefit structure of Social Security (chained-CPI);

*Means test additional programs in Medicare;

*Include $400 billion in health care savings (or cuts);

*Cut $200 billion from other areas, identified by The New York Times as “farm subsidies, federal employee retirement programs, the Postal Services and the unemployment compensation system;”

Meanwhile, the AFL-CIO, whines:

“People need to tell the president, ‘stand tall, we are with you. No negotiating with hostage-takers. Not about the Affordable Care Act, not about the Grand Bargain and certainly not about cuts to Social Security, Medicare or Medicaid, or more giveaways for big corporations that outsource jobs. You won the election.

You must defend democracy and you must stand up for the 99%, and that means no more rewarding hostage-takers.”

But the AFL-CIO misses the whole point. Obama wants to cut Social Security and other social benefits. The Tea/Republicans also want to cut Social Security and other social benefits. This is not a matter of negotiating with hostage takers. All the “negotiators” want the same thing.

AFL-CIO doesn’t get it, because its leaders refuse to understand Monetary Sovereignty.

So, being economically ignorant, all they can do is beg the guy who has been bribed (via campaign contributions and promises of lucrative employment later) to screw the middle class, to “negotiate” with the other guys who also have been bribed to screw the middle class. Visualize two cannibals negotiating how best to cook you.

IF AFL-CIO leadership really cares about its members, it will broadcast these facts:

*The federal government cannot run short of dollars. It is the creator of dollars.
*Federal taxes do not pay for federal spending
*Cutting federal deficits always leads to recessions and depressions
*Increasing federal deficits cures recessions and depressions
*Inflation is not now a problem, has not been a problem for 33 years, and easily is prevented and cured
*Recession, unemployment and poverty can be solved now by increased federal deficit spending.

If you are a union member, demand that your leadership stop whining and educate itself about Monetary Sovereignty.

Rodger Malcolm Mitchell
Monetary Sovereignty

====================================================================================================================================================
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 federal deficit growth lines drop, we approach recession, which will be cured only when the lines rise.

#MONETARY SOVEREIGNTY