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

Readers of this blog know that our politicians, media and mainstream economists have been bribed by the ultra-rich to widen the gap between the rich and the rest.

The politicians are bribed by the ultra-rich via campaign contributions and promises of lucrative employment for themselves and their families (the Bill Clinton syndrome)

The media are owned by the ultra-rich. (The FOX syndrome)

The mainstream economists are employed by universities that have been bribed, and/or they are employed by the so-called “think tanks” (the CATO syndrome) which are funded by the ultra-rich.

Very briefly, they all are bribed to brainwash millions of Americans with The Big Lie — the myth that federal spending is too high, unsustainable and must be reduced.

Because the vast majority of federal spending benefits the vast majority of Americans, i.e. the millions of non-rich, reductions in federal spending widen the gap.

When House Speaker said, “Let’s be honest. We’re broke,” he was expressing The Big Lie.

When one of the brainwashed millions tells me that federal spending is unsustainable, here is the inevitable scenario:

Brainwashed: “Social Security benefits (or Medicare benefits, or any other federal spending) must be decreased.”

RMM: “Do you think the federal government can run short of dollars?”

Brainwashed: “No, they always can print dollars, but that will cause hyper-inflation. Remember Weimar Republic (or Zimbabwe, or Argentina)”

Despite 200 years of wars, recessions, depressions, stagflations, inflations and bubbles, the U.S. never has had a hyper-inflation, and today we are nowhere near hyper- inflation. Instead, we are near deflation and recession.

Huff Post
Harlan Green, Editor and Publisher
Deflation is the Danger
Posted: 09/14/2013 12:14 pm

Deflation is the danger to economic growth at present, not inflation. For inflation is a sign of economic growth, yet prices have barely risen if one looks at the major inflation indexes, like the CPI or Personal Consumption price index.

The so-called PCE price index is the main inflation indicator liked by the Federal Reserve, and it is running far below the Fed’s preferred target of 2 to 2.5 percent.

. . . the emphasis on holding down inflation . . . resulted in 2 decades of low inflation that was called the “Great Moderation”–has meant slower economic growth and less productive investment, as well as two further recessions in the last decade, including the Great Recession.

We have not had an inflationary environment since the 1970s, and that was ‘cured’ by then Fed Chairman Paul Volcker with his double-digit interest rates.

So now what can brainwashed parrots for the ultra-rich to say? They acknowledge that the federal government has the unlimited ability to (erroneously called) “print” dollars. The government never can run short of dollars to pay its bills.

Our current problems are slow growth, unemployment and a widening gap between the rich and the rest.

The non-rich need increased, not decreased, federal deficit spending for Social Security, Medicare, Medicaid, poverty aids, education, the infrastructure, pure food, clean water and the myriad other benefits of federal deficit spending.

And our primary danger is deflation, not inflation.

So with low inflation, verging on deflation, what’s the excuse now?

Rodger Malcolm Mitchell
Monetary Sovereignty

====================================================================================================================================================
Nine 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. Send every American citizen an annual check for $5,000 or give every state $5,000 per capita (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
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. Federal deficit growth is absolutely, positively necessary for economic growth. Period.

#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.
======================================================================================================================================================================================

So they labored mightily, to build a complex machine, which they named “the EU,” and now they say it’s not working right, and they want to fix it, but they can’t agree on why they built it or what the machine is supposed to do.

———-THE EURO———-

Reform EU or Britain quits – George Osborne lays down ultimatum
Membership withdrawal threat after Tory MPs sign letter calling for dismantling of Europe’s core principles via veto powers
Nicholas Watt, chief political correspondent, The Guardian, Tuesday 14 January 2014

Mats Persson, director of Open Europe, said: “There is a huge debate in Europe about what the EU’s defining mission should be in future – the single market or the euro?

Got it? Europe created the EU and the euro, but now has no idea why the EU exists or why the euro exists, and what they are supposed to accomplish.

There are those who believe the goal is to facilitate intra-Europe trade.
There are those who believe the goal is to create a united Europe politically.
Or financially.
Or militarily.
Or economically.
But they’re not quite sure why.
Or how.

There are those who believe the goal is to maintain the euro. But they too are not quite sure why or how.

And then there are the wealthiest Europeans who believe the goal is just to make a carload, boatload and trainload of money for themselves, at the expense of the lowly citizens, for as long as possible, until the pitchforks and torches show up.

George Osborne will today deliver a stark warning to Britain’s European partners that the UK will leave the EU unless it embarks on whole-scale economic and political reform.

[He wants to] dismantle the rules of the European single market which were drawn up to prevent France imposing protectionist measures by denying member states a national veto.

It goes like this: You are a Monetarily Sovereign nation, with two major assets: The unlimited power to create your own sovereign currency, and the unlimited power to determine your economic fate.

Obviously, you don’t want such a burden. You’d rather be a slave nation. So what do you do? You voluntarily surrender those most valuable assets, and you put your nations fate into the hands of some unelected, foreign bureaucrats called the EU.

Surprise! That hasn’t worked out so well:

The EU suffers from a chronic lack of competitiveness and the European economy has stalled over the last six years while the Indian economy has grown by a third and the Chinese economy by 50%.

[Osborne said,] “As Angela Merkel has pointed out, Europe accounts for just over 7% of the world’s population, 25% of its economy, and 50% of global social welfare spending. We can’t go on like this.”

O.K., so the euro has been an unmitigated disaster, as we who understand Monetary Sovereignty began predicting many years ago.

But wait!

The UK did not adopt the euro. The UK did not surrender its Monetary Sovereignty, the single most valuable asset any nation can have. The UK did not put its future into the hands of unelected, foreign bureaucrats. So everything is good. Right?

Well, maybe not.

Osborne is expected to say that (Prime Minister David) Cameron will press for a realignment of the rules of the single market to ensure the 18 members of the eurozone cannot outvote the 10 EU members, such as Britain, which have not joined the single currency.

So that is the big “reform” — a “realignment of the rules.” Still the same old euro. Still the same old bureaucrats. Still the same old economic disaster.

And no one really explains, on a cost/benefit basis, why the EU continues to exist.

And worse yet, the UK, despite retaining its Monetary Sovereignty — despite having the unlimited ability to create it sovereign currency, the pound — despite the unavoidable lessons of deficit cutting by euro nations — the UK austerity train just keeps rolling down the hill.

Why? Why the EU and why economy-crushing austerity, even in a Monetarily Sovereign nation?

Well, those are the great European mysteries — or they would be mysteries but for one small detail: Everything that has been done and will be done, is at the direction of the continent’s wealthiest people.

The same people who built the complex machine now volunteer to fix it, but they simply will rearrange a few parts, and the machine will continue to “work” as badly as before.

All this “build it, fix it, build it, fix it” is just a giant smoke screen — a misdirection to fool the masses and to hide the true purpose of the euro, the EU and their inevitable austerity-induced recessions and unemployment: To widen the gap between the rich and the rest.

The misdirection has been working and continues to work. Even America uses the same kind of misdirection for the same purposes.

The plumber keeps sabotaging the pipes, so you’ll have to keep calling him back, again and again, and paying him for every visit. He gets rich. You get poor. And the plumbing still doesn’t work.

The mysteries are solved. The purpose of the EU and the euro is to widen the gap between the rich and the rest. Period.

Rodger Malcolm Mitchell
Monetary Sovereignty

====================================================================================================================================================
Nine 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. Send every American citizen an annual check for $5,000 or give every state $5,000 per capita (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
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. Federal deficit growth is absolutely, positively necessary for economic growth. Period.

#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.
======================================================================================================================================================================================

Repeatedly, you’ve been told about The Big Lie — how the ultra-rich want you to believe the federal government is running short of dollars, the purpose being to reduce benefits to the not-ultra-rich. Well here’s an example:

New York Times
Older Pool of Health Care Enrollees Stirs Fears on Costs
By MICHAEL D. SHEAR and ROBERT PEAR, JAN. 13, 2014

WASHINGTON — People signing up for health insurance through the Affordable Care Act’s federal and state marketplaces tend to be older and potentially less healthy, a demographic mix that could threaten the law’s economic underpinnings and cause premiums to rise in the future if the pattern persists.

Questions about the law’s financial viability are likely to become the next line of attack from Republicans (who) quickly seized on the government’s progress report as evidence that the health insurance law would not work.

But administration officials expressed optimism that more young people would sign up in the months ahead, calling the latest enrollment numbers “solid, solid news” for the health care law.

If the ACA was being underwritten by a private (monetarily non-sovereign) company, the above paragraphs would make sense. After all, private insurance depends on those most likely to need payments being supported by those less likely to need payments.

That’s how insurance companies make money. They avoid what’s called “adverse selection.”

And that is why, for instance, life insurance is cheaper for young people than it is for old people.

But ACA is not underwritten by private, for-profit companies. It is underwritten by the federal government — the Monetarily Sovereign federal government — which never, never, ever can run short of dollars.

So the New York Times article is 100% choreographed bullshit.

It is choreographed by the rich to make the rest believe the government can be unable to afford ACA as it stands, so benefits must be reduced and/or taxes on the middle must be increased. That is The Big Lie.

It’s exactly the same Big Lie that claims Social Security will run out of money, so benefits must be reduced and/or taxes increased. It is the same Big Lie that claims the federal deficit and debt must be reduced, because they are “unsustainable.”

Brendan Buck, a spokesman for the House speaker, John A. Boehner, predicted that the White House would fail to meet its goals and said that insurance premiums would rise.

This is the same Republican John Boehner, who famously lied, “Let’s be hones. We’re broke.”

Oh, sure. Boehner wanting to be honest. That’s a howler. The U.S. federal government, which has the unlimited ability to create dollars, somehow is “broke.” What a load of malarkey.

But insurance premiums probably will rise, at the behest of the ultra-rich, even though premiums could be, and should be, zero.

Of people choosing plans so far, 60 percent selected silver plans and 20 percent signed up for bronze plans. Thirteen percent chose gold plans, and 7 percent platinum coverage.

Translation: Because the federal government unnecessarily charges for ACA, the average person cannot afford the best coverage. That is reserved for Congress, the President, and other powerful liars.

Meanwhile, the innocent public, which does not understand the difference between Monetary Sovereignty (has the unlimited ability to create its sovereign currency) and monetary non-sovereignty (has no sovereign currency), will buy into the Big Lie, and accept paying higher, ever higher, premiums for reduced benefits.

And the gap, between the rich and the not-rich, continues to grow, while Obama and both parties shed crocodile tears about the disappearing middle class.

Time to wake up, suckers!

Rodger Malcolm Mitchell
Monetary Sovereignty

====================================================================================================================================================
Nine 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. Send every American citizen an annual check for $5,000 or give every state $5,000 per capita (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
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. Federal deficit growth is absolutely, positively necessary for economic growth. Period.

#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.
======================================================================================================================================================================================

As every right-thinking person knows, there is too much government regulation. The proof: See excerpts from the following article:

HuffPost
House Republicans Just Quietly Passed A Bill Gutting Hazardous Waste Legislation
Kate Sheppard
01/10/2014 3:19 pm EST

WASHINGTON – The House of Representatives passed a bill called the Reducing Excessive Deadline Obligations Act that would remove requirements the EPA periodically update and review solid waste disposal regulations, and would make it harder for the government to require companies that deal with hazardous substances to carry enough insurance to cover cleanup.

The bill would also require more consultation with states before the government imposes cleanup requirements for Superfund sites — places where hazardous waste is located and could be affecting local people or ecosystems.

The bill passed by a vote of 225 to 188, largely along party lines. Four Republicans voted against it, and five Democrats voted for it.

The environmental group Earthjustice has said the bill would “gut” the Superfund program, which was created in 1980 to ensure that polluting industries pay to clean up hazardous sites.

“The bill’s requirements could result in significant site cleanup delays, endangering public health and the environment,” President Obama’s advisers wrote.

Clearly, the House is dominated by right-thinking people.

Washington Post
West Virginia residents cope, with days of water woes still ahead after chemical spill
By Joel Achenbach, Published: January 12

“DO NOT USE WATER,” say the signs taped over sinks at the airport, and in the State Capitol the sinks are entirely wrapped in plastic bags.

People line up for free water at the fire stations or buy it at the Dollar General — $1.60 for a 20-ounce Dasani, $39 for a flat of 24 bottles.

A chemical used in coal processing has leaked from an old tank along the Elk River and invaded the water supply, a crisis that has affected nearly 300,000 people in nine counties and effectively closed the largest city in the state. You can’t drink the water, bathe in it or do laundry with it. It’s good only for flushing.

Two state employees tracked the leak to Freedom Industries. Monday will mark the fifth day of the water emergency.

Only five short days (and counting) without water? What are these people complaining about?

The bigger problem is the excessive regulation that an innocent private company like Freedom Industries is forced to endure at the hands of an excessively intrusive government.

An attorney for Freedom Industries provided a reporter with a news article saying that the chemical is not very toxic.

See, it’s not very toxic. Just a little toxic. Nothing to worry about.

I’ll tell you what is toxic. Those excessive regulations that require no poisons in our food and water — they are toxic. And excessive regulations that require food and clothing to be labeled properly and not to contain botulism or other poisons, and excessive regulations against crooked Wall Streeters from stealing your savings, and excessive regulations against retailers who sell you fake Gucci watches at exorbitant price — you know, those kinds of excessive regulations.

Thank goodness we have right-thinking protectors of the rich to defend us from excessive waste disposal and hazardous substance regulations.

A lot of that stuff isn’t very toxic, anyway.

Rodger Malcolm Mitchell
Monetary Sovereignty

====================================================================================================================================================
Nine 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. Send every American citizen an annual check for $5,000 or give every state $5,000 per capita (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
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. Federal deficit growth is absolutely, positively necessary for economic growth. Period.

#MONETARY SOVEREIGNTY