Tag: monetarily sovereign

–The rape and enslavement of Greece, codified. Who smells the meat a’cooking, and who’s next?

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..

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

Greece should have stayed out of the eurozone. It should have remained Monetarily Sovereign, keeping full control over its own currency.

Instead, it voluntarily surrendered the single most valuable asset it had — that Monetary Sovereignty — and allowed itself to be sucked into the maw of the euro.

So the lives of the Greek people were left to the tender mercies of the International Monetary Fund, the European Commission and the European Central Bank, aka the “troika,” who represent only the rich, the bankers and the Germans.

Remember: Any monetarily NON-sovereign government — be it city, county, state or nation — that cannot run an ongoing trade surplus, eventually will run out of money.

Since many euro nations cannot run trade surpluses, they are in line to run out of euros.

And so, Greece pays the easily foreseen penalty. It has run out of money.

All this for the Big Lie — the mythical stability of a unified currency. Here now, is where that Lie, that “stability,” has led:

European Leaders Reach Agreement to Resolve Greek Debt Crisis
By JAMES KANTER and ANDREW HIGGINS

Greece and its European creditors announced an agreement here on Monday that aims to resolve the country’s debt crisis and keep it in the eurozone, but that will require further budgetary belt-tightening.

Translation: Rather than the crisis being resolved, it only has just begun. That belt tightening will involve the further pillage of Greece by the troika.

The tough terms, demanded by Germany and others, are meant to balance Greece’s demands for a loan repayment system that will not keep it mired in recession and austerity budgets, against creditors’ insistence that loans worth tens of billions of euros not be money wasted.

Translation: There is no “balance.” The terms WILL keep Greece mired in recession and austerity budgets until there is no more Greece.

An accord would end five months of bitter negotiations that raised concerns that Greece would be the first country to be forced out of the euro currency union — a development that proponents of European unity had sought desperately to avoid.

Translation: The troika, representing the rich, the bankers and Germany, do not want to lose the goose that lays golden eggs until it has drained Greece and the Greek people of everything they have.

Only when the Greek people are completely destitute, and have nothing left to give or sell, will they be released from the troika’s tentacles.

As part of Greece’s commitments, Chancellor Angela Merkel of Germany said, a fund will be created to use the proceeds from selling off assets owned by the Greek government to help pay down the country’s debt. That fund would be “to the tune of” €50 billion.

Translation: All of Greece’s assets will be sold to rich buyers at bargain basement prices. (A crooked politician in Illinois, Paul Powell, who repeatedly demanded bribes, famously said, “I smell the meat a’cooking.” The troika smells the Greek meat a’cooking.)

After all the Greek “meat” is gone, the Greek people will be completely enslaved.

The agreement will call for Greece to raise taxes, pare pension benefits and take various other measures meant to reduce what critics see as too much bureaucracy and too many market protections that keep the Greek economy from operating efficiently.

Translation: The agreement will be for the Greek people to pay more taxes to the troika, receive lower pensions and be fired from their government jobs.

“We gave a tough battle for six months and fought until the end in order to achieve the best we could, a deal that would allow Greece to stand on its feet,” Primes Minister Alexis Tsipras said.

Translation: Rather than standing on their feet, the Greek people will be forced to their knees.

Summary: A financial merger without a political merger is a recipe for disaster — except for the rich and the bankers, whose loans to an unqualified borrower should have been punished, but instead are being rewarded.

(It’s always the same with the bankers. Remember how this exact scenario played out in the United States. Banks made loans to unqualified borrowers. When impoverished borrowers were forced out of their homes into destitution, the banks confiscated those homes. Then the rich and the bankers were rewarded by the Obama administration with huge bonuses.)

Germany, which failed to take Europe by force of arms, now will take Europe by force of finance.

Greece is gone. Its people will be raped, and like many rape victims, they will be blamed by the rapists.

Who’s next? France? Portugal? Line up, folks.

The Germans, the rich and the bankers smell the meat a’cooking.

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
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

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.

#MONETARYSOVEREIGNTY

–Of whom does Donald Trump remind you?

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.
**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 isthe gap between rich and poor.
**Austerity is the government’s method for wideningthe gap between rich and poor.
**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.
**Everything in economics devolves to motive, and the motive is the Gap between the rich and the rest..

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

Of whom does Donald Trump remind you?

In his comments, blaming undocumented immigrants for crime and hurting the economy, Trump is walking a well-traveled path, a path you will recognize:

Fact Checker
Donald Trump’s false comments connecting Mexican immigrants and crime

“When Mexico sends its people, they’re not sending their best. They’re not sending you. They’re not sending you. They’re sending people that have lots of problems, and they’re bringing those problems with us. They’re bringing drugs. They’re bringing crime. They’re rapists. And some, I assume, are good people.”

“What can be simpler or more accurately stated? The Mexican Government is forcing their most unwanted people into the United States. They are, in many cases, criminals, drug dealers, rapists, etc.”

“I will be the greatest jobs president that God has ever created. I’ll bring back our jobs from China, from Mexico, from Japan, from so many places . . . and I’ll bring back our money.”

Data on immigrants and crime are incomplete, but a range of studies show there is no evidence immigrants commit more crimes than native-born Americans. In fact, first-generation immigrants are predisposed to lower crime rates than native-born Americans.

Immigration and crime levels have had inverse trajectories since the 1990s: immigration has increased, while crime has decreased. Some experts say the influx of immigrants contributed to the decrease in crime rates, by increasing the denominator while not adding significantly to the numerator.

When asked how the data are indicative of the Mexican government sending criminals to the United States, or that there is a crime wave coming across the border, a Trump campaign adviser said: “The data speaks for itself.”

The Congressional Research Service found that the vast majority of unauthorized immigrants do not fit in the category that fits Trump’s description: aggravated felons, whose crimes include murder, drug trafficking or illegal trafficking of firearms.

An analysis of 2010 Census data in a report from the American Immigration Council, a pro-immigration group, shows that 1.6 percent of immigrant males 18 to 39 years old were incarcerated, compared to 3.3 percent of native-born males.

That disparity in incarceration rates has been consistent in the decennial Census since 1980, the report says.

In short, Trump has lied to make undocumented Mexican immigrants scapegoats.

He falsely claims Mexicans are responsible for “lots of problems.” He falsely claims they are criminals and rapists, responsible for illegal drugs.

He claims the solution for these “problems” is to deport undocumented Mexicans.

Did Trump invent hatred of undocumented Mexicans? No, he built on and used anti-immigrant ideas that already existed.

The gasbag also said he will “be the greatest jobs president” and will grow the American economy, though he gives no clue about how he would do this, other than by deporting 12 million scapegoats.

Anne Frank House: An important term to mention here is ‘scapegoat’.

Hitler and the Nazis said the Jews were responsible for huge events like losing World War One and the economic crisis. This was totally untrue.

But by giving the Jews the blame Hitler created an enemy. Hitler said that all Germany’s problems had been caused by the Jews. Many people believed him.

The solution to all these problems was to banish the Jews from society. With this political message and the promise to make Germany a large and economically powerful country Hitler’s party won the 1932 election.

In 1933 he and his party came to power.

Did Hitler invent hatred of Jews? No, Hitler built on and used antisemitic ideas that already existed. He was Austrian and grew up in Vienna where the mayor was extremely antisemitic and where hatred of Jews was widespread. His hatred of Jews cannot be tied down to a specific event in his life.

Just as Hitler did, Trump appeals to the lowest instincts of humanity. He appeals to hatred and xenophobia.

His unapologetic “birther” campaign against President Obama, was a disguised appeal to haters of blacks.

Trump is our modern-day Hitler, and you will see that haters will be his core constituency, just as the haters were Hitler’s.

Most dictators have gained power via hatred of some group. It happened in Hitler’s Germany. It happened in Stalin’s Russia (Jews and Bolsheviks). It happened in Mao’s China (the rich, the educated, the clergy).

Always, there was some group at which hatred was directed — some group falsely blamed.

And the result always has been disaster, for that is where hatred always leads.

As Trump’s popularity rises, it is happening here.

He is forcing us onto a well-traveled path.

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
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

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.

#MONETARYSOVEREIGNTY

–Greece, if you do it right, you will be among the most prosperous . . .

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.
**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.
**To survive long term, a monetarily non-sovereign government must have a positive balance of payments.
**Everything in economics devolves to motive, and the motive is the Gap between the rich and the rest..

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

Congratulations Greece, you have voted against eternal austerity and slavery to the troika.

Now, if you do it right, you will be among the most prosperous of European nations, while the rest of the euro zone either fades into depression or follows your lead.

Greeks defy Europe with overwhelming referendum ‘No’

ATHENS (Reuters) – Greeks voted overwhelmingly on Sunday to reject terms of a bailout, risking financial ruin in a show of defiance that could splinter Europe.

Financial “ruin” is what Greece has now, and what the troika proposes — endless, ongoing, unpayable debt, impoverishing the Greeks, their children and their grandchildren, forever.

But yes, it may deservedly splinter Europe, with the wise nations re-adopting their own sovereign currencies, and the rest dying the slow death of austerity.

It leaves Greece in uncharted waters: risking financial and political isolation within the euro zone and a banking collapse if creditors refuse further aid.

A Monetarily Sovereign nation need never have a “banking collapse,” so long as it doesn’t succumb to the “borrow-borrow-borrow” siren song of the troika loan sharks.

But for millions of Greeks the outcome was an angry message to creditors that Greece can longer accept repeated rounds of austerity that, in five years, had left one in four without a job. Prime Minister Alexis Tsipras has denounced the price paid for aid as “blackmail” and a national “humiliation”.

Better late than never to come to that realization.

Officials from the Greek government, which had argued that a ‘No’ vote would strengthen its hand to secure a better deal from international creditors after months of wrangling, immediately said they would try to restart talks with European partners.

Oh, no! Oh, no! You Greeks don’t need to “restart talks with European ‘partners.'” They are not partners of yours any more than a Mafia loan shark is a “partner” with his victims.

Issue your own sovereign currency. Become Monetarily Sovereign, again. Demand that your creditors accept your currency in payment, or they will receive nothing.

Pay for health care, education, food for the poor, housing for the poor, your needed goods and services — all with your own sovereign currency.

Tell your citizens to pay taxes in their own sovereign currency.

Go back to where you were before the ill-fated euro experiment in torture began.

But euro zone officials shot down any prospect of a quick resumption of talks. One official said there were no plans for an emergency meeting of euro zone finance ministers on Monday, adding the vote outcome meant the ministers “would not know what to discuss”.

Give those fools the Greek, open-handed “Nah.”

The result also delivers a hammer blow to the European Union’s grand single currency project. Intended to be permanent and unbreakable when it was created 15 years ago, the euro zone could now be on the point of losing its first member with the risk of further unraveling to come.

Yes, the money-lenders are wetting their pants from they won’t be able to keep the Greek people in debt-slavery.

Unable to borrow money on capital markets, Greece has one of the world’s highest levels of public debt. The International Monetary Fund warned last week that it would need massive debt relief and 50 billion euros in fresh funds.

For a Monetarily Sovereign nation, borrowing from foreigners is 100% unnecessary. But that is not what they want you to believe. They want you to think you need their loans.

But, exhausted and angry after five years of cuts, falling living standards and rising taxes imposed under successive bailout programs, many appear to have shrugged off the warnings of disaster, trusting that a deal can still be reached.

The only “deal” Greece needs is a return to Monetary Sovereignty. It will require strong, smart leadership. I can suggest a couple people who could help Greece with that.

Much good luck.

Stay strong and you’ll be strong.

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
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

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.

#MONETARYSOVEREIGNTY

–The vote: Can Greece’s financial calamity be prevented?

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.
**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.
**To survive long term, a monetarily non-sovereign government must have a positive balance of payments.
**Everything in economics devolves to motive, and the motive is the Gap between the rich and the rest..

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

As I write this, the Greek people prepare to go to the polls. They will vote “yes” or “no” — on what? They have no idea.

Nor do I.

Ostensibly, it could be a vote on whether to remain a euro nation. Or maybe not. No one is quite sure.

Most writers belief Greece should remain. For example:

Greece Should Vote Yes and Europe Should Be Ashamed
Bloomberg By Clive Crook

The vote doesn’t change the calculations that the respective sides will have to make about long-term consequences. It will still be in both sides’ interests to come to an agreement.

Some European officials are ready to see Greece default and exit the euro system. If Greeks vote no, that view may gain ground and the chance of Grexit certainly goes up.

If the voters say yes, there’s a better chance that the EU and the ECB will offer help to stave off both default and Grexit. At least in the short-term, yes is the better path to less economic pain.

By submitting to the EU, Greece might incline the creditors to be generous in victory. Europe might finally concede what Tsipras has long been demanding and what has always made sense from the creditors’ own point of view — to bundle debt relief and a milder profile of fiscal consolidation into a third bailout program.

“Less economic pain”? “Creditors generous in victory”? Puleeze!

Visualize that you are deeply in debt to a criminal syndicate. You already have given them every cent you have, but it’s not enough to pay your debt. So they come to you with a new deal.

They will lend you the money to pay your past debt, but only if you give them your house and car and all your future earnings. This will require that you and your family starve in a cardboard box on the street.

It also will insure that they can continue bleeding you forever. You never will emerge from debt.

That is the deal the troika has offered, and always will offer, to the Greeks.

But you have an alternative. You can tap into a source of money that will allow you to pay off all the debt. No longer will your family be bled dry. No longer will they be forced to live in a cardboard box on the street.

Which do you prefer? The syndicate “bleed forever” deal or the pay-off-all-debt deal?

The source of money for Greece is called Monetary Sovereignty. Greece can revert to the drachma, a currency they would have the unlimited ability to create.

They should announce that they will pay all debts in drachmas and collect all taxes in drachmas.

Some believe Greece’s return to Monetary Sovereignty will be a financial calamity for Greece and the world.

Nonsense.

The European Unit of Account (EUA), a basket of currencies, was introduced in 1975. The European Currency Unit (ECU), also a basket of currencies, replaced the EUA, 1 for 1, on March 1979.

Then, on January 1, 1999, the euro replaced the ECU, 1 for 1.

In the past 40 years alone, there has been a great deal of currency shuffling by the European nations, and none of these changeovers caused financial calamity.

Seventeen nations have surrendered their own sovereign currencies, to adopt the euro. No financial calamity in that changeover.

Some European nations did not adopt the euro, but still remain part of the European union. No financial calamity in that lack of changeover.

Greece itself, did not adopt the euro until the euro was two years old. No financial calamity in that changeover.

But now, we are expected to believe Greece’s “unadopting” of the euro would cause a financial calamity.

Here is what would be a calamity: Greece’s continuing to bleed its citizens forever, to pay the rapacious lenders of the troika.

Those lenders don’t want to lose their cash cow, so they spread the financial calamity nonsense.

What was done, can be undone, and the sooner the better for the Greek people.

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
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

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.

#MONETARYSOVEREIGNTY