Who are the good guys? Who are the bad guys?

Who are the good guys? Who are the bad guys?

ASSAILANTS KILL 14 NEAR LOS ANGELES IN WORST MASS SHOOTING SINCE SANDY HOOK

Syed Rizwan Farook, 28, and Tashfeen Malik, 27, entered the Inland Regional Center in San Bernardino and opened fire using assault weapons and handguns, the police said.

Farook, a county employee, attended the holiday party before the shooting, according to the police. He then left in an “angry” manner and returned to open fire

“The only thing that stops a bad guy with a gun is a good guy with a gun,”  NRA’s Executive Vice President Wayne LaPierre

Monetary sovereignty

Who are the good guys? Who are the bad guys?

Were Farook and Malik “good” guys and gals, or were they “bad” guys and gals?

The 2016 Gun-Violence Statistics Out of Chicago Are Horrific

Almost 3,000 Chicagoans were shot in 2015. In the first ten days of 2016, three times as many people were shot in Chicago as in the beginning of 2015, the Chicago Tribune reports.

Donald Trump: “We love the Second Amendment, folks. Nobody loves it more than us, so just remember that.”

Often, Trump shifts the conversation about gun control to mental health, which he says is an issue politicians have ignored for too long. A day after two journalists were killed on live TV in Virginia, he rejected calls to strengthen gun laws.

“This isn’t a gun problem, this is a mental problem,” he said.

monetary sovereignty

Who are the sane guys? Who are the insane guys?

Everything You Need to Know About Federal Background Checks

In the United States, anybody who wishes to purchase a gun at a federally licensed firearms dealer (FFL) is subject to a background check.

Of course, if you think you can’t pass a background check, don’t buy your gun from an FFL. Simple.

The most common reason for a gun purchase denial is a criminal conviction. Nearly 150,000 fugitives, 120,729 domestic offenders, and 109,875 unlawful drug users have been denied in the 17 years NICS has been online.

For all the focus on mental health, the bar for denying someone on psychiatric grounds is very high, leading to relatively few rejections: Only 21,000 applicants have been denied because they were declared mentally unfit by a judge.

Somebody tell that to Donald Trump.

State and local police are not required to submit criminal-record data to the FBI. Reporting “varies widely based on the practices of the individual departments. The smaller the town, the worse the records.”

Federal law does not require states to forward mental health records to NICS, and some states are resistant, citing privacy laws.

The FBI has only three days to make a final determination on the buyer.

Why only 3 days? What’s the rush?

If a decision can’t be made in that time frame, the FFL is allowed by law to go ahead and sell the firearm. The dealer is also not required to notify the FBI when a sale has been made after a three-day delay.

Default-proceed sales are eight times more likely to involve a prohibited purchaser than sales with background checks that are resolved within 72 hours.

What could possibly go wrong with a system like that?

monetary sovereignty

Study these people carefully. Take your time.

Some bought their guns at a federally licensed firearms dealer. Some bought their guns from a friend, or a neighbor, or a stranger on the street, or at a gun show, where no background checks at all were necessary.

Look again.  With which of them are you trusting your life?

Who are the good guys? Who are the bad guys?

Rodger Malcolm Mitchell
Monetary Sovereignty

===================================================================================
Ten Steps to Prosperity:
1. ELIMINATE FICA (Ten Reasons to Eliminate FICA )
Although the article lists 10 reasons to eliminate FICA, there are two fundamental reasons:
*FICA is the most regressive tax in American history, widening the Gap by punishing the low and middle-income groups, while leaving the rich untouched, and
*The federal government, being Monetarily Sovereign, neither needs nor uses FICA to support Social Security and Medicare.
2. FEDERALLY FUNDED MEDICARE — PARTS A, B & D, PLUS LONG TERM CARE — FOR EVERYONE (H.R. 676, Medicare for All )
This article addresses the questions:
*Does the economy benefit when the rich afford better health care than the rest of Americans?
*Aside from improved health care, what are the other economic effects of “Medicare for everyone?”
*How much would it cost taxpayers?
*Who opposes it?”
3. PROVIDE AN ECONOMIC BONUS TO EVERY MAN, WOMAN AND CHILD IN AMERICA, AND/OR EVERY STATE, A PER CAPITA ECONOMIC BONUS (The JG (Jobs Guarantee) vs the GI (Guaranteed Income) vs the EB) Or institute a reverse income tax.
This article is the fifth in a series about direct financial assistance to Americans:

Why Modern Monetary Theory’s Employer of Last Resort is a bad idea. Sunday, Jan 1 2012
MMT’s Job Guarantee (JG) — “Another crazy, rightwing, Austrian nutjob?” Thursday, Jan 12 2012
Why Modern Monetary Theory’s Jobs Guarantee is like the EU’s euro: A beloved solution to the wrong problem. Tuesday, May 29 2012
“You can’t fire me. I’m on JG” Saturday, Jun 2 2012

Economic growth should include the “bottom” 99.9%, not just the .1%, the only question being, how best to accomplish that. Modern Monetary Theory (MMT) favors giving everyone a job. Monetary Sovereignty (MS) favors giving everyone money. The five articles describe the pros and cons of each approach.
4. FREE EDUCATION (INCLUDING POST-GRAD) FOR EVERYONEFive reasons why we should eliminate school loans
Monetarily non-sovereign State and local governments, despite their limited finances, support grades K-12. That level of education may have been sufficient for a largely agrarian economy, but not for our currently more technical economy that demands greater numbers of highly educated workers.
Because state and local funding is so limited, grades K-12 receive short shrift, especially those schools whose populations come from the lowest economic groups. And college is too costly for most families.
An educated populace benefits a nation, and benefiting the nation is the purpose of the federal government, which has the unlimited ability to pay for K-16 and beyond.
5. SALARY FOR ATTENDING SCHOOL
Even were schooling to be completely free, many young people cannot attend, because they and their families cannot afford to support non-workers. In a foundering boat, everyone needs to bail, and no one can take time off for study.
If a young person’s “job” is to learn and be productive, he/she should be paid to do that job, especially since that job is one of America’s most important.
6. ELIMINATE CORPORATE TAXES
Corporations themselves exist only as legalities. They don’t pay taxes or pay for anything else. They are dollar-tranferring machines. They transfer dollars from customers to employees, suppliers, shareholders and the government (the later having no use for those dollars).
Any tax on corporations reduces the amount going to employees, suppliers and shareholders, which diminishes the economy. Ultimately, all corporate taxes come around and reappear as deductions from your personal income.
7. INCREASE THE STANDARD INCOME TAX DEDUCTION, ANNUALLY. (Refer to this.)
Federal taxes punish taxpayers and harm the economy. The federal government has no need for those punishing and harmful tax dollars. There are several ways to reduce taxes, and we should evaluate and choose the most progressive approaches.
Cutting FICA and corporate taxes would be an good early step, as both dramatically affect the 99%. Annual increases in the standard income tax deduction, and a reverse income tax also would provide benefits from the bottom up. Both would narrow the Gap.
8. TAX THE VERY RICH (THE “.1%) MORE, WITH HIGHER PROGRESSIVE TAX RATES ON ALL FORMS OF INCOME. (TROPHIC CASCADE)
There was a time when I argued against increasing anyone’s federal taxes. After all, the federal government has no need for tax dollars, and all taxes reduce Gross Domestic Product, thereby negatively affecting the entire economy, including the 99.9%.
But I have come to realize that narrowing the Gap requires trimming the top. It simply would not be possible to provide the 99.9% with enough benefits to narrow the Gap in any meaningful way. Bill Gates reportedly owns $70 billion. To get to that level, he must have been earning $10 billion a year. Pick any acceptable Gap (1000 to 1?), and the lowest paid American would have to receive $10 million a year. Unreasonable.
9. FEDERAL OWNERSHIP OF ALL BANKS (Click The end of private banking and How should America decide “who-gets-money”?)
Banks have created all the dollars that exist. Even dollars created at the direction of the federal government, actually come into being when banks increase the numbers in checking accounts. This gives the banks enormous financial power, and as we all know, power corrupts — especially when multiplied by a profit motive.
Although the federal government also is powerful and corrupted, it does not suffer from a profit motive, the world’s most corrupting influence.
10. INCREASE FEDERAL SPENDING ON THE MYRIAD INITIATIVES THAT BENEFIT AMERICA’S 99.9% (Federal agencies)Browse the agencies. See how many agencies benefit the lower- and middle-income/wealth/ power groups, by adding dollars to the economy and/or by actions more beneficial to the 99.9% than to the .1%.
Save this reference as your primer to current economics. Sadly, much of the material is not being taught in American schools, which is all the more reason for you to use it.

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

If a man and a woman each act stupidly, which will be President?

gYou may expect this article to be about the “glass ceiling,” i.e.the unfair disadvantage women have in business and other pursuits. Or, you may believe this article is about Donald Trump and Hillary Clinton.

You’d be right — and wrong.

The 5/16/16 edition of the Chicago Tribune had this excellent article by Dana Milbank. I’ll give you a few excerpts, but I recommend you find and read the full article, by purchasing a Tribune or by going online:

Sarah Palin, the political mother of Donald Trump
Dana Milbank

Sarah Palin: “You can actually see Russia from land here in Alaska.”
Donald Trump: “I know Russia well. I had a major event in Russia two or three years ago, Miss Universe contest.”

Palin is, politically, the Mother of Trump.

Trump, asked by NBC’s Chuck Todd where he gets his military advice, said: “Well, I watch the shows. You know, when you watch your show and all of the other shows.”

Palin’s reply to Katie Couric in 2008 about which newspapers or magazines she reads: “Um, all of them, any of them that have been in front of me all these years.”

But the likenesses go much deeper:
–The attacks on the media.
–The demonization of a supposed “establishment.”
–The huge and sometimes violent crowds.
–The prominent platforms given both candidates by Fox News.
–The racist responses among supporters.
–The suspicion of science.
–The scapegoating of Muslims.
–The portrayal of President Barack Obama as something other than American.

Well before Trump built his national political reputation by questioning the authenticity of Obama’s birth certificate, Palin called it a “fair question” and “fair game” and said “the public rightfully is still making it an issue.”

In 2011, after Trump said he was sending investigators to Hawaii to probe Obama’s birth, Palin responded, “More power to him.”

Before Trump said he would bring back waterboarding and “a hell of a lot worse,” Palin (said) “if I were in charge, they would know that waterboarding is how we baptize terrorists.”

Before Trump talk(ed) about banning Muslim immigration (a stance Palin supports) and forced registration of Muslims, Palin said, “Let Allah sort it out,” in her 2013 response to the Syrian civil war.

Palin justified her accusation that Obama “pals around with terrorists” by saying that Obama isn’t “a man who sees America the way you and I see America”.

She stirred the crowd to turn against the press in a manner similar to Trump’s rallying of supporters against penned-in reporters at his events: “Palin supporters turned on reporters in the press area, waving thundersticks and shouting abuse. One Palin supporter shouted a racial epithet at an African-American soundman for a network and told him, ‘Sit down, boy.'”

Nicolle Wallace, a former top official on the McCain 2008 campaign, observed the parallel in The New York Times in January after Palin endorsed Trump: “Mr. Trump is riding the wave of anxiety that Ms. Palin first gave voice to as Sen. John McCain’s running mate. Mr. Trump has now usurped and vastly expanded upon Ms. Palin’s constituency, but the connection between the two movements is undeniable.”

Sarah Palin is well engraved in America’s consciousness as being a raving loony, who is completely ignorant about world and domestic politics. She appeals to fringe mentalities, followers whose primary emotion is hatred of anyone or anything different from them, especially the poor and people of color.

Palin’s rants rightfully are dismissed with laughter and scorn by anyone with a brain. And, though she has had some experience in politics, her image as an “idiot shouting” has made her unelectable.

Donald Trump is even more extreme and has less political experience than Palin. His rants about deporting 11 million Mexicans and building a wall he will force Mexico to buy, and torturing prisoners, and his Islamophobia are dismissed with laughter and scorn by anyone with a brain, even by his own party.

His judgement is seriously lacking. Trump shrugged off widespread allegations that Russian President Putin has ordered the killing of journalists and political dissidents.

Trump: “He’s running his country and at least he’s a leader, unlike what we have in this country. I think our country does plenty of killing also.”

(Presumably, Trump feels the same way about Stalin, Hitler, Mussolini, Castro, and Kim Jong-un.)

Trump’s answering of questions with questions, generalities, irrelevancies, and innuendo is Palinesque. To defend Trump’s banning of Muslims, Palin said, “As governor of Alaska, I banned Muslims from entering my daughter Bristol, and that ban is still enforced to this day.”

A typical Trumpian/Palinian non sequitur.

Trump explained to Bill O’Reilly on Fox News, why he wants to ban all Muslims from America: “Many, many, most Muslims are wonderful people, but is there a Muslim problem? Look what’s happening. Look what happened right here in my city with the World Trade Center and lots of other places.

Yes, the billion Muslims in the world are represented by the dozen guys on the 9/11 planes in the world of Palin/Trump.

Like Palin, Trump is an “idiot shouting,” but unlike her, he just might be elected President.

Why the difference?

Palin/Trump are famous, glib, entertaining, white, Christian, and reasonably attractive. Both appeal to the same angry, “anti-everything,” hatred-spread-wide mentality. Both criticize everything, but have no solid plans for anything.

So why is she a joke, and he might be President?

And here comes Hillary Clinton. Her primary sins are:
–She took two whole weeks to reveal that Benghazi was not the result of a movie, but rather was a planned terrorist activity.
–She used her private server for Emails
–And isn’t there is something vaguely wrong with the Clinton Foundation?
–And wasn’t there something about Whitewater and Kenneth Starr that after years of investigation and millions in costs, and many conspiracy theories, never came to anything?

Considering Clinton has been in politics for many years, that’s a relatively puny list. Compare her scandals with Trump’s numerous scandals, failed businesses like Trump University, Trump Steaks, Trump Vodka, Trump Shuttle, and four bankruptcies for which the perpetrator boasts about cheating lenders (and suggests the U.S. government do the same).

Speaking of cheating, Hillary was cheated on by her husband. She stood by her man. The Donald cheated on his wife and divorced her.

Hillary remains married, while Donald is a two-time loser, working on his third wife.

But Hillary can’t be trusted while the Donald can??

Yes, Hillary is criticized for her husband’s unfaithfulness, while Donald’s own unfaithfulness barely is mentioned.

Why?

Hillary has broad experience in government, both domestic and international. Sarah has experience in domestic government.

Donald not only has no experience (other than funding a beauty contest in Russia) — even less experience than Sarah Palin — but he doesn’t seem to understand any need for experience to be hired for the most important job in the world.

It’s doubtful he would hire an inexperienced accountant or lawyer, but he wants America to hire an inexperienced President.

Yet somehow he, not Palin, is the Republican candidate for President.

Why?

I suspect there are two differences:

For reasons only a psychologist might be able to identify, Hillary has a likability problem. Perhaps it’s her voice, or her wide-eyed enthusiasm or her unstylish pantsuits, but for many people, she seems to be cursed with the “Dr. Fell syndrome.” 

And this may relate to the other reason: She is a woman, and men can get away with far more bullsh*t than can women.

Palin/Trump are kindred spirits, espousing the same mixture of ignorance, bigotry and outright lies, that appeal to ignorant, bigoted and gullible people.

Ah, but Mrs. Palin, she is an unelectable, Tina Fey comedy sketch, while Mr. Trump, the notorious misogynist, so infantile he feels compelled to surround himself with beautiful women — he is in danger of winning the Presidency.

Bill Clinton scandalized the Oval office. Imagine what Trump will do in there.

Advice to Melania Trump: Don’t get old.

Rodger Malcolm Mitchell
Monetary Sovereignty
===================================================================================
Ten Steps to Prosperity:
1. ELIMINATE FICA (Ten Reasons to Eliminate FICA )
Although the article lists 10 reasons to eliminate FICA, there are two fundamental reasons:
*FICA is the most regressive tax in American history, widening the Gap by punishing the low and middle-income groups, while leaving the rich untouched, and
*The federal government, being Monetarily Sovereign, neither needs nor uses FICA to support Social Security and Medicare.
2. FEDERALLY FUNDED MEDICARE — PARTS A, B & D, PLUS LONG TERM CARE — FOR EVERYONE (H.R. 676, Medicare for All )
This article addresses the questions:
*Does the economy benefit when the rich afford better health care than the rest of Americans?
*Aside from improved health care, what are the other economic effects of “Medicare for everyone?”
*How much would it cost taxpayers?
*Who opposes it?”
3. PROVIDE AN ECONOMIC BONUS TO EVERY MAN, WOMAN AND CHILD IN AMERICA, AND/OR EVERY STATE, A PER CAPITA ECONOMIC BONUS (The JG (Jobs Guarantee) vs the GI (Guaranteed Income) vs the EB) Or institute a reverse income tax.
This article is the fifth in a series about direct financial assistance to Americans:

Why Modern Monetary Theory’s Employer of Last Resort is a bad idea. Sunday, Jan 1 2012
MMT’s Job Guarantee (JG) — “Another crazy, rightwing, Austrian nutjob?” Thursday, Jan 12 2012
Why Modern Monetary Theory’s Jobs Guarantee is like the EU’s euro: A beloved solution to the wrong problem. Tuesday, May 29 2012
“You can’t fire me. I’m on JG” Saturday, Jun 2 2012

Economic growth should include the “bottom” 99.9%, not just the .1%, the only question being, how best to accomplish that. Modern Monetary Theory (MMT) favors giving everyone a job. Monetary Sovereignty (MS) favors giving everyone money. The five articles describe the pros and cons of each approach.
4. FREE EDUCATION (INCLUDING POST-GRAD) FOR EVERYONEFive reasons why we should eliminate school loans
Monetarily non-sovereign State and local governments, despite their limited finances, support grades K-12. That level of education may have been sufficient for a largely agrarian economy, but not for our currently more technical economy that demands greater numbers of highly educated workers.
Because state and local funding is so limited, grades K-12 receive short shrift, especially those schools whose populations come from the lowest economic groups. And college is too costly for most families.
An educated populace benefits a nation, and benefiting the nation is the purpose of the federal government, which has the unlimited ability to pay for K-16 and beyond.
5. SALARY FOR ATTENDING SCHOOL
Even were schooling to be completely free, many young people cannot attend, because they and their families cannot afford to support non-workers. In a foundering boat, everyone needs to bail, and no one can take time off for study.
If a young person’s “job” is to learn and be productive, he/she should be paid to do that job, especially since that job is one of America’s most important.
6. ELIMINATE CORPORATE TAXES
Corporations themselves exist only as legalities. They don’t pay taxes or pay for anything else. They are dollar-tranferring machines. They transfer dollars from customers to employees, suppliers, shareholders and the government (the later having no use for those dollars).
Any tax on corporations reduces the amount going to employees, suppliers and shareholders, which diminishes the economy. Ultimately, all corporate taxes come around and reappear as deductions from your personal income.
7. INCREASE THE STANDARD INCOME TAX DEDUCTION, ANNUALLY. (Refer to this.)
Federal taxes punish taxpayers and harm the economy. The federal government has no need for those punishing and harmful tax dollars. There are several ways to reduce taxes, and we should evaluate and choose the most progressive approaches.
Cutting FICA and corporate taxes would be an good early step, as both dramatically affect the 99%. Annual increases in the standard income tax deduction, and a reverse income tax also would provide benefits from the bottom up. Both would narrow the Gap.
8. TAX THE VERY RICH (THE “.1%) MORE, WITH HIGHER PROGRESSIVE TAX RATES ON ALL FORMS OF INCOME. (TROPHIC CASCADE)
There was a time when I argued against increasing anyone’s federal taxes. After all, the federal government has no need for tax dollars, and all taxes reduce Gross Domestic Product, thereby negatively affecting the entire economy, including the 99.9%.
But I have come to realize that narrowing the Gap requires trimming the top. It simply would not be possible to provide the 99.9% with enough benefits to narrow the Gap in any meaningful way. Bill Gates reportedly owns $70 billion. To get to that level, he must have been earning $10 billion a year. Pick any acceptable Gap (1000 to 1?), and the lowest paid American would have to receive $10 million a year. Unreasonable.
9. FEDERAL OWNERSHIP OF ALL BANKS (Click The end of private banking and How should America decide “who-gets-money”?)
Banks have created all the dollars that exist. Even dollars created at the direction of the federal government, actually come into being when banks increase the numbers in checking accounts. This gives the banks enormous financial power, and as we all know, power corrupts — especially when multiplied by a profit motive.
Although the federal government also is powerful and corrupted, it does not suffer from a profit motive, the world’s most corrupting influence.
10. INCREASE FEDERAL SPENDING ON THE MYRIAD INITIATIVES THAT BENEFIT AMERICA’S 99.9% (Federal agencies)Browse the agencies. See how many agencies benefit the lower- and middle-income/wealth/ power groups, by adding dollars to the economy and/or by actions more beneficial to the 99.9% than to the .1%.
Save this reference as your primer to current economics. Sadly, much of the material is not being taught in American schools, which is all the more reason for you to use it.

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

The sure way not to solve any unemployment problem

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

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

Every politician tells voters he/she plans to bring jobs back to America. It is a lie, designed to fool desperate people.

It is a lie when Donald Trump says it. It is a lie when Ted Cruz and Hillary Clinton say it. It is a lie when Bernie Sanders says it.

The very words, “bring jobs back to America” always are, and always must be a lie.

I’ll tell you why, but first let’s go over what Bernie Sanders says, for it is quite typical of all politicians.

Bernie Sanders Slams United Technology’s Plan to Outsource Jobs By Andrew Emett, April 29, 2016 News Report

Speaking at a United Steelworkers rally, Sen. Bernie Sanders lambasted United Technologies’ decision to outsource 1,400 U.S. jobs to Mexico.

Despite the fact that United Technologies recently posted larger earnings and revenue than expected, roughly 2,100 employees in Indiana are expected to lose their jobs to foreign labor willing to work $3/hour.

“I intend to do everything I can to prevent United Technologies from shutting down their plants in Indianapolis and Huntington from throwing 2,100 American workers out on the street and moving to Monterey, Mexico, where they’re gonna pay people there three dollars an hour,” Sanders asserted on Friday.

Can you think of any reasons why United Technologies would transfer operations to Mexico? Do the words “profit,” “lower costs,” “lower selling prices,” and “competitive advantages” come to mind?

Are these bad words in business? If you were running a business, would you forget about profits, costs, selling prices and competitive advantages?

Would you consider your company to be a charitable operation, the purpose of which is to pay more money than necessary for labor and materials?

“Today we are sending a very loud and clear message to the CEO of United Technologies: Stop the greed. Stop destroying the middle class in America. Respect your workers. Respect the American people,” Sanders announced to the crowd of protesting workers.

Actually, the loud and clear message is, “Be as inefficient as possible. Force American businesses to pay more for labor and goods. Make sure American businesses can’t compete with the rest of the world.”

But, of course, there is another part to the story.

In 2014, United Technologies provided its retired CEO, Louis Schenevert, a golden parachute of $172 million along with a pension worth $31 million. Making a profit of more than $7 billion last year, United Technologies also received $6 billion in defense contracts.

While receiving more than $58 million in corporate welfare from the Export-Import Bank, United Technologies also received nearly $530,000 of Indiana taxpayer money in training grants.

Despite the fact that United Technologies recently posted more revenue than expected, totaling $13.357 billion for the quarter, roughly 2,100 Indiana employees will lose their jobs in an attempt for the company to “stay competitive and protect the business.”

Supposedly, because the CEO was overpaid, and because United Technologies made a big profit, and because it received big defense contracts, and because it received lots of money from Indiana as well as from the U.S. — because of all these things, United Technologies should pay more than necessary for labor and materials.

The “logic” is that because UT is profitable, it can afford to pay more than necessary, so that is exactly what a patriotic American should do.

“Look around Indiana and you will find once vibrant and strong manufacturing towns like Gary, South Bend, Muncie, Bloomington, Indianapolis and Evansville shattered by abandoned factories, shut down steel mills, sky-high poverty rates, and foreclosed homes,” Sanders observed.

“You do not have to have a PhD in economics to understand that our unfettered free trade policies have failed. We need new trade policies in this country, policies that are designed to protect the interests of American workers, not just the compensation-packages of corporate CEOs.”

You also do not need to have a PhD in economics to understand that there are many reasons for unemployment in manufacturing, and trade policies isn’t one of them — unless one believes that protectionism is long-term beneficial to a nation’s economy.

Remember, protectionism runs both ways. What we do to other countries, those other countries will do to us.

The Great Recession caused unemployment. The fault: Lack of federal government regulation of banks.

Every recession and depression has been cured by federal deficit spending.  Tea Partyish austerity has delayed our recovery. The fault: Insufficient deficit spending by the federal government.

Manufacturing largely uses unskilled labor. Third-world nations can supply unskilled labor at a low cost.

As a result, the U.S. has been converting to industries that require more skilled and educated workers.

But, the excessive cost of education together with widespread poverty, has taken many American workers from school.   The fault: Insufficient federal support for education and insufficient financial support for the poor.

See the pattern here? The politicians blame business for doing exactly what businesses should do: Be efficient, creative and competitive.

The real problems are the fault of the federal government and its austerity-leaning policies.

Singling out United Technologies, Sanders also noted that the layoffs in Indiana have been happening across the nation over the last 35 years with no end in sight.

Since the passage of the North American Free Trade Agreement (NAFTA) in 1994, Indiana alone has lost 113,000 good-paying manufacturing jobs.

Although Sanders fought against the NAFTA and other disastrous trade agreements, Hillary Clinton staunchly supported their passage.

Hmmm . . . He says layoffs have been happening for 35 years, and NAFTA came 22 years ago, but the layoffs are the fault of NAFTA?  

“It is not acceptable to me that today the top one tenth of one percent owns almost as much wealth as the bottom 90 percent,” Sanders declared.

“We need a political revolution. We need millions of Americans to begin to stand up and fight back and demand a government that represents all of us.

Agreed. The Gap between the rich and the rest is too wide.  In fact, it is the single worst economic problem in America and in the world.

But that problem will not be solved by erecting federal trade barriers to shelter increasingly inefficient businesses (i.e. protectionism.)

It will not be solved with federal spending cuts and tax increases (i.e. austerity).

It will not be solved by impoverishing America with college debt, or by allowing criminal bankers to run wild.

Bernie Sanders hates the Citizens United (Supreme Court) case that indicated corporations are people. Yet, wants corporations to act like super patriots, and give their profits to charity  — a sure way to destroy the American economy by making our businesses inefficient.

Bernie has some good ideas. Medicare for All is one.  But the notion that companies are responsible for unemployment, and should pay excessively for labor and materials, is economically suicidal.

The federal government was responsible for the Great Recession, and in fact has been responsible for every recession and depression in U.S. history.

Growing the American economy does not involve building a wall of protection around inefficient businesses and their workers. Growing the American economy requires American business to be competitive.

Finger pointing at business for not solving the federal government’s problems is a sure way never to solve the Gap problem.

A NATION DOES NOT CREATE JOBS BY CUTTING BUSINESS PROFITS.

To create prosperity, we must stop over-taxing businesses and start educating the American workforce. That is the federal government’s job.

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

 

I don’t blame Trump

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

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..

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 poor.
•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..

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

I don’t blame Trump.

He is what he is: A bigot, a megalomaniac, a tyrant and the would-be fuehrer of the United States of America. (“Fuehrer” means “leader,” but in Trump’s case “fuehrer” is more appropriate.)

All Hail Der Donald!
By Roger Simon

Do not say you were not warned. Der Donald has warned you.

Security is going to rule in America. And unthinkable things will be done.  Don’t believe me? Ask him.

“We’re going to have to do things that we never did before. And some people are going to be upset about it, but I think that now everybody is feeling that security is going to rule. … So we’re going to have to do certain things that were frankly unthinkable a year ago.”

On Saturday, a black man began shouting at a Trump speech in Birmingham, Alabama. People shout at Trump speeches all the time. But there are things you are allowed to shout, such as “We love you, Donald!”

And there are certain things you are not allowed to shout, such as “Trump is a racist!”

The black man was kicked and punched. Trump looked down upon him with lofty disdain. “Get him the hell out of here!” Trump said. “Throw him out.” The man was led away.

Trump would protect us from such people as president.

But I don’t blame Trump.  He is what he is:   A bigot, a megalomaniac, a tyrant and the would-be fuehrer of the United States of America.

I blame the people who support him.  I blame the good Republicans who are too cowardly to call him out.  I blame the “religious” (irony) right wing.

The price we would pay would be tiny. We would give up a civil liberty here, a freedom there.

Certain people would be registered. Their houses of worship would be spied upon. Names would be taken down.

But as long as these people are not Christians, do you really care? Trump is betting you do not.

We didn’t care when blacks were turned into slaves then hung from trees. We didn’t care when Jews were thrown into ovens and mass graves.  We didn’t care when native-born Americans lost their homes, because  their grandparents came from Japan or when native Americans were sent to reservations.

We don’t care when unarmed black men are murdered by police.

And now we don’t care again.

“I want surveillance of these people,” Trump has said. “I want surveillance if we have to, and I don’t care. … I want surveillance of certain mosques, OK?”

Martin Niemoller, a Lutheran pastor who first supported and then opposed Adolf Hitler, was imprisoned in concentration camps,  but felt he never did enough to speak out against fascism, especially when Hitler still could have been stopped.

Today he might have written:

“First they came for the black people, and I did not speak out — because I was not black.

“Then they came for the Muslims, and I did not speak out — because I was not a Muslim.

“When they come for you and me, who will be left to speak out?”

“Too many people have suffered and too many people have died for us to continue to hear racist words coming from major political leaders,” Bernie Sanders says.

“Turning away orphans, applying a religious test, discriminating against Muslims, slamming the door on every Syrian refugee — that is just not who we are. We are better than that,” Hillary Clinton says.

And what of Trump’s opponents for the Republican nomination? Most grovel and fawn.

They really don’t care that Trump wants to register Muslims, just as long as he doesn’t want to register guns.

I don’t blame Trump.  He is what he is:   A bigot, a megalomaniac, a tyrant and the would-be fuehrer of the United States of America.

I blame the good people who are only too glad to see other people’s lives destroyed, so long as their own lives are safe — safe temporarily, until he comes for them.

All that is necessary for the triumph of evil is for good men to do nothing.

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 add dollars to the economy, stimulate the economy, and narrow the income/wealth/power Gap between the rich and the rest.
——————————————————————————————————————————————

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.
1. A growing economy requires a growing supply of dollars (GDP=Federal Spending + Non-federal Spending + Net Exports)
2. All deficit spending grows the supply of dollars
3. The limit to federal deficit spending is an inflation that cannot be cured with interest rate control.
4. The limit to non-federal deficit spending is the ability to borrow.

THE RECESSION CLOCK
Monetary Sovereignty

Vertical gray bars mark recessions. Recessions come after the blue line drops below zero and when deficit growth declines.

As the federal deficit growth lines drop, we approach recessions, each of which has been cured only when the growth lines rose.

Increasing federal deficit growth (aka “stimulus”) is necessary for long-term economic growth.

#MONETARYSOVEREIGNTY