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, and the motive is the gap.
======================================================================================================================================================================================

David Brat is the economics professor who beat Eric Cantor, the right winger, the “too-liberal-for-the-Tea-Party” guy. You can see Brat’s website here.

Here are a few of his opinions:

OBAMACARE
Obamacare has proven to be an economically disastrous law and an unconstitutional power grab by our Federal Government. The government cannot and should not be permitted to run and regulate nearly 20% of our nation’s economy.

We must restore the relationship between doctor and patient. We must restore the relationship between price and service in medicine. I support a plan to defund the law and replace it with free-market solutions that lower costs, improve quality, and increase access to care.

TRANSLATION: Obamacare has been an economic and human windfall for those states expanding Medicaid. Not only are those states receiving billions from the federal government, but millions of their poor people are receiving health care insurance. We right-wingers don’t like that.

In my “free-market” plan (the one that makes workers subservient to corporations), only the rich would be able to afford health care, which is as it should be.

FISCAL RESPONSIBILITY
Our national debt has skyrocketed, reaching over $17 trillion dollars. What our leaders in Washington fail to mention is the $127 Trillion dollars in unfunded liabilities (see U.S. Debt Clock).

This lack of leadership on both sides of the aisle threatens our nation’s stability and long term growth and forces an undue burden on our children and grandchildren. We must balance the federal budget by reducing spending.

I will support a balanced budget amendment which will force Congress to reign in the out of control federal spending and to restore confidence in the American economy.

TRANSLATION: Although I am an economics professor, I am clueless about Monetary Sovereignty. I actually believe what the “Debt Clock” says. I don’t know that the U.S. does not and cannot have unfunded liabilities.

I don’t understand the financial difference between the U.S. government and the governments of the states, counties and cities.

I also don’t understand that national debt is not, and never will be, a burden on our children and grandchildren — or more likely I understand it and am just mouthing the BIG LIE.

I also pretend not to understand that a balanced federal budget (aka “austerity”) would be a financial disaster.

IMMIGRATION
When addressing the issue of immigration, we must start by securing our border. I reject any proposal that grants amnesty and undermines the fundamental rule of law. Adding millions of workers to the labor market will force wages to fall and jobs to be lost.

I support . . . a fair process to allow law abiding individuals to work towards becoming citizens of this great nation.

TRANSLATION: “Start by securing our border” means nothing can be done until zero brown-skinned people ever enter the country. By the way, you’ll note I said “border” not “borders.” We also have borders with Canada, but those are mostly white-skinned people, so they’re fine.

I also don’t want you to realize that “granting amnesty” means changing the law, so people receiving amnesty would, in fact, follow the rule of law. But, keep it quiet.

As an economist, I still haven’t learned that immigration isn’t what forces wages to fall and jobs to be lost. What does? My right-wing austerity and all those spending cuts.

By “fair process to work toward” citizenship, I prefer something with lots of hoops to jump through — something that takes at least 50 years and forces people to start over if they make the slightest mistake.

2ND AMENDMENT
I am a strong supporter of gun rights. The right to keep and bear arms is a fundamental right enshrined in the constitution for a reason – it provides the people with the ultimate guarantee of sovereignty.

Our founding documents make it clear that our inalienable rights come from God and that the job of the government is to ensure and protect those God given rights.

TRANSLATION: “The ultimate guarantee of sovereignty” is code for: If the government does something we don’t like, we can resist the army, navy and marines with our pistols and rifles — ala my hero, Cliven Bundy.

I am oh-so religious and oh-so patriotic. That’s why I say that God wrote the Constitution and God gave us the right to carry guns anywhere we want. Those are in the bible, aren’t they?

EDUCATION
As an economist and educator for eighteen years, I understand the value of a good education. I will support efforts to place Virginia’s teachers, parents, and local officials, who best understand the needs of the community, in control of our education system.

TRANSLATION: Don’t change anything. Our current education system is perfect, just the way it is. We need uneducated kids to do the grunt work for us elites.

NATIONAL SECURITY/FOREIGN POLICY
Ronald Reagan said it best: “Peace through strength.” A strong military is essential to the success of our nation. We must secure our borders, support the Armed Forces, both at home and abroad, and maintain a strong national defense in order to secure our country’s future. In addition, I support a full investigation into the Benghazi attacks.

TRANSLATION: Ronald Reagan is another one of my heroes. He opted for less deficit spending, then set a record for deficit spending.

He was against lying to Congress, except for the Iran-Contra affair.

He bankrupted much of the Savings & Loan industry with criminality and retro-active laws.

His Deaver and Nofzinger both were convicted of illegal lobbying.

His entire Department of Housing and Urban Development leadership was convicted of crimes while in office.

The same is true of his Environmental Protection Agency.

And there was the Department of Justice scandal.

But hey, let’s be outraged about Benghazi. That is the most important issue facing America.

I don’t like Social Security, Medicare, Medicaid, any aid to the poor, aids to education, relief of student loans or any other spending that benefits the middle- and lower-income groups.

But I love the military. Those weapons manufacturers really pay us politicians well.

ENERGY
I support a broad-spectrum energy approach that relies on the free market. The private sector must be set free to invest in natural gas, wind, solar, oil, nuclear, and other forms of energy as we move forward.

Ending our reliance on foreign oil and moving toward energy independence is vital to the future welfare of America.

TRANSLATION: Drill baby, drill. Who cares about the ecology or global warming or the world in which our children and grandchildren will live. Let’s take the money and run.

10TH AMENDMENT
The federal government has grown far too large. I fully support the Constitution and enforcing the 10th Amendment and getting the government out of the way of economic growth. I will work to bring power back to the Commonwealth of Virginia.

TRANSLATION: Please don’t tell anyone that Virginia receives $1.51 from the federal government for every federal tax dollar it pays. (See: http://visualeconomics.creditloan.com/wp-content/uploads/sites/4/2009/11/tax.jpg)

Virginia is self-sufficient, but if those federal payments stopped, we’d be broke within this year.

UPHOLD HUMAN LIFE
Human life is sacred, as proclaimed by our founding documents, and I will always support laws that protect life. Our fundamental rights to life, liberty and the pursuit of happiness precede the existence of government and come from God, the Author of Nature.

These core constitutional rights have been usurped by the Judicial and Executive Branches and must be returned to the people and their representatives.

TRANSLATION: See, I told you I’m the most religious and patriotic guy in the room. That’s why I hate the government.

In fact, I so much want to get the government out of our lives that I want to pass a law outlawing a woman’s right to control her own body. And of course, there should be a federal law against gay marriage. But really, the government is too big and intrusive into our private lives.

That’s not hypocritical, is it?

But don’t worry: I’m a university professor and I teach your children.

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. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)
9. Federal ownership of all banks (Click here)
10. Tax the very rich (.1%) more, with much higher, progressive tax rates on all forms of income. (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

Vertical gray bars mark recessions.

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, and the motive is the gap.
======================================================================================================================================================================================

Sometimes, you have to just shake your head in wonderment.

GOP Straight Up Bribes Democratic Senator In Effort To Block Obamacare
The Huffington Post | By Ryan Grim & Ashley Alman

The Republican Party in Virginia has resorted to what appears to be outright bribery in its ongoing effort to deny low-income residents in the state access to the Medicaid expansion authorized by Obamacare.

Republicans offered to move Democratic state Sen. Phillip P. Puckett and his daughter into prestigious jobs in exchange for Puckett’s resignation, which will flip the chamber into Republican hands. Puckett officially accepted the offer on Monday, but then appeared to back away amid a public outcry.

The Senate was on course to pass an expansion of Medicaid, as the law allows, while the House of Delegates, in GOP hands, aimed to block it.

What does this mean to the people of Virginia?

PolitiFact: There’s a tremendous amount of federal money at stake.
As many as 400,000 Virginians could become eligible for Medicaid under Obamacare, and the U.S. would pay their entire health care costs through 2016.

The most recent estimate of expansion costs (benefits to Virginia), released in January, breaks down to about $3.5 million a day for the budget year that starts this July 1. The federal contribution would be about $4.5 million a day during the following budget year, starting in mid-2015.

In short, the federal government would pump between $3.5 million and $4.5 million every day, into the Virginia economy, plus 400,000 Virginians would receive health care insurance.

But, the Republicans don’t want this. Why? They don’t want Obama and the Democrats to get the credit for these benefits. So they cut Virginians’ noses to spite Obama’s face.

Hey, who cares about the people. This is politics.

Eric Cantor Defeated by David Brat, Tea Party Challenger, in G.O.P. Primary Upset
By JONATHAN MARTINJUNE 10, 2014

David Brat, a professor at Randolph-Macon College in Ashland, Va., toppled Mr. Cantor, repeatedly criticizing him for being soft on immigration and contending that he supported what critics call amnesty for immigrants in the country illegally.

The Virginia Republican voters ousted one of the most powerful people in Congress, just to avoid accepting immigrants into their midst. They have left the frying pan of right-wing politics to the extreme right wing fire of Tea Party politics.

These voters have allowed fear and bigotry to craze them. And here is the irony.

The Tea Party is the extreme proponent of “small government, cut spending.” That philosophy has decimated the middle- and lower-income groups, not only by reducing benefits to the not-rich, but by reducing economic growth.

Reduced economic growth causes unemployment and reduced salaries in existing jobs, both of which have been a big issue in Virginia.

The Virginians’ middle- and lower-income’s primary fear of immigrants is that they will take these low wage jobs and will vote for people who side with immigrants.

So — ironically — Virginia’s middle- and lower-income groups vote for the Tea Party, because the Tea Party is the most anti-immigant party — even though it is the Tea Party that is most responsible for the middle- and lower-income group’s economic troubles.

In short, Virginians not only have voted to jump from the frying pan into the fire, but to elect the people who built the fire in the first place! And in the fall, they probably will vote Republican.

Not even a fiction writer could create such a crazy scenario.

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. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)
9. Federal ownership of all banks (Click here)
10. Tax the very rich (.1%) more, with much higher, progressive tax rates on all forms of income. (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

Vertical gray bars mark recessions.

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, and the motive is the gap.
======================================================================================================================================================================================

To demonstrate the cruelty of a Congress that has lost all sense of decency, consider the latest in immigration “reform.”

The most incremental of immigration bills, known as the ENLIST Act would let immigrants who were brought to the United States illegally as children to enlist in the military. If they serve and are honorably discharged, they would then be eligible for a green card, which would put them on a path to citizenship.

Now consider two children, both 1 year old. The first child was born on U.S. soil a year ago. The second child was taken here from a foreign country, by his parents.

Which of these two, one-year-old children, is a better American?

According to the ENLIST Act, the child born on U.S. soil is the better American. The second child must avoid being deported, until he is old enough for the military. Then he must risk his life in the military and serve honorably. Then by some unknown means obtain a green card, which still does not make him a citizen, because at that point he only is on a “path to citizenship.”

House Majority Eric Cantor said, “If you’ve got a kid that was brought here by their parents — unbeknownst to the child — and that they’ve grown up in this country and not known any other, and they want to serve in our military, they ought to be allowed to do that and then have the ability to become a citizen after that kind of service.”

But Cantor has not even brought up for a vote, this ironically labeled “reform,” this convoluted, cruel maze through which an innocent child must crawl.

And this little law applies only to children. It says nothing about the rest of the 12 million undocumented immigrants in America.

Why?

It’s the old story: Political leadership’s use of paranoia to seize and retain power.

Voters (though especially right-wing voters) have been taught they need to live behind personal stone walls of fear and hatred. They are taught to fear and hate black people. They are taught to fear and hate brown people and yellow people. They fear and hate gays, Jews, Muslims, foreigners, Communists, Socialists, liberals, anyone wearing a hoodie.

They fear and hate the poor. They fear and hate the people in the next state. They even are taught to fear and hate the U.S. government, thus the “small government” efforts by the extreme right wing.

They are told to demand to own ever more and ever bigger guns to protect themselves against those they fear. They shoot when they hear a knock at the door.

When they sneak out from behind their stone walls, they feel they must carry guns everywhere they go.

Never mind that we all are immigrants or the children of immigrants. Never mind that study after study has shown that recent immigrants have been just as law-abiding, hard-working, benefit-to-America people as those born here.

Never mind that according to the Center for Naval Analysis:

Non-citizens, once they have joined the military, are also far more likely to complete their enlistment obligations successfully than their U.S.-born counterparts.

Thirty-six month attrition rates for non-citizens are between 9 and 20 percentage points lower than those for white citizens, the largest demographic group in the military.

So craven are our leaders, that even this punitive ENLIST act — and act that would delay citizenship for many years — cannot move forward.

It is the leaders, those cynical little pretend patriots of little morals, whom we sent to Washington to represent America, but who feel their real power comes from building the wall of hatred and fear ever stronger — they are the ones who repeatedly appeal to the worst instincts of a population they intentionally frighten.

During war, fear and hatred bring a nation together under its leadership. So now our leaders have invented wars — wars against drugs, wars against immigrants, wars against alien terrorists — to solidify the power of the leaders.

President Bush created the fear of little Iraq and its little leader Saddam Hussein, so to give himself the power to cause thousands of American deaths and dismemberments — unnecessarily.

The leaders tell a gullible populace, “I am fighting for you, against your fears,” while the populace does not understand that it is the leaders, who have implanted those fears. Fear and hatred are a leader’s greatest weapons.

Now we have about 12 million undocumented, only about 4% of the total U.S. population — certainly not enough to cause great concern. They already live here and will continue to live here. What public purpose is achieved by keeping them in an illegal status?

But our leaders, through exaggeration and caricature, intentionally have spread the fear of this small, comparatively benign group.

One day a law will be passed, and it will be called “reform,” and it will be nothing of the sort. There will be no true reform while paranoids have a strong voice.

We weren’t born to fear and hate. The Paranoid Gun Nuts weren’t born PGNs. They were indoctrinated into the world of fear and hatred by the power-mad. The gun companies use fear and hatred as their marketing too.

One day, Americans will wake up and open their arms, just as the people who really built America did. Those brave, compassionate souls, not the mean, cringing cowards of today, were the real American patriots.

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. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)
9. Federal ownership of all banks (Click here)
10. Tax the very rich (.1%) more, with much higher, progressive tax rates on all forms of income. (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

Vertical gray bars mark recessions.

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, and the motive is the gap.
======================================================================================================================================================================================

Let’s say you want to cook your food by building a bonfire on the rug in the middle of your dining room. But you know that this could burn the house down.

How would you solve the problem?

You could coat all your walls with fireproofing material. You could trade your wooden furniture for steel furniture. You could put bricks between the fire and the rug.

You could stash a few dozen fire extinguishers all around, within easy reach. You could tell the fire department to be on alert. You even could close all the windows and doors to deprive a spreading fire of oxygen.

You could try any number of crazy solutions.

Or, you simply could forget about the stupid bonfire, and cook your food on the kitchen stove.

Because the euro deprives euro nations of their most valuable asset — their Monetary Sovereignty, they have have lost control over their money supplies, so have run short of money to sustain, much less to grow, their economies.

With bonfires roaring in the euro nations’ dining rooms, the EU and ECB twist and turn and pretend to try in every possible way, to save a truly horrible idea.

(In a June 2005 speech, I said, “Because of the Euro, no euro nation can control its own money supply. The Euro is the worst economic idea since the recession-era, Smoot-Hawley Tariff. The economies of European nations are doomed by the euro.”)

Now we have the next bit of ECB twisting and turning and “problem solving”:

Draghi breaks new ground with negative interest rate

The European Central Bank (ECB) took the unprecedented step on Thursday of declaring a negative interest rate for deposits, in effect charging banks to park money with the ECB.

The move was part of a series of measures to combat the euro zone’s growth-sapping disinflation.

No, it isn’t disinflation that saps the euro zone’s growth. It’s the euro that saps the euro zone’s growth.

At its June monetary policy meeting, the ECB cut the rate on its deposit facility for banks to minus 0.10 percent, from 0 percent. This is the first time a major global central bank has moved rates into negative territory.

ECB President Mario Draghi (said,) “The measures will contribute to a return of inflation rates to levels closer to 2 percent.”

The ECB lends to banks at low interest rates, in order to encourage them to lend to households and non-financial corporations.

As usual, the ECB has everything bass-ackwards. Banks are failing to lend, because households and corporations can’t or won’t borrow — not because interest rates are high (they already are low), but because the economy is so bad and the future looks worse.

Businesses and individuals borrow in anticipation of future income. But when the economy is dropping like a boulder, no one can count on enough future income to warrant borrowing — not the borrower and not the lender. No one.

Until now, the EU’s favorite “solution” to the euro disaster has been to lend euros to insolvent euro nations — nations that, being monetarily non-sovereign, have no means by which to pay the euros back.

So when the debts come due, the EU:
1. Criticizes the euro nations for being profligate and wastrel
2. Demands that spending be cut ever more (thereby starving the lower 99.9% income group and further destroying the infrastructure)
3. Lending the “profligates and wastrels” even more unpayable euros, thereby creating ever greater indebtedness and dependency.

Then the process repeats.

There are two, and only two, solutions to the euro problem:
1. The euro nations return to Monetary Sovereignty by re-adopting their own sovereign currencies
or
2. The EU joins politically (like a United States of Europe), in which the EU gives, not lends, euros to euro nations as needed — just as the U.S. government gives dollars to our monetarily non-sovereign states (by deficit spending).

Don’t imagine for one minute, that every single economist in the EU and the ECB is so stupid, they cannot see the folly of the euro. If you can see it, and I can see it, they can see it.

So, why do they do it?

Quite simple: They are paid to do it by the upper .1% income group to widen the income/power GAP between the rich and the rest.

The corollaries in America are the Tea and Libertarian Parties, both of which insist on “smaller government” — code for reduced spending that would have benefited the 99.9% and reduced taxes on the upper .1%.

The euro is a powerful weapon against the middle- and lower classes, turning the euro nations into slave nations, at the pleasure of the rich.

What’s happening in Europe is a prelude to what will happen in America as the “small government, anti-deficit, pro-rich” crowd widens the GAP between the rich and the rest, with cuts in the spending that benefits the populace and reductions in the taxes on the wealthy.

The house is afire in Europe, and some embers are glowing on the American rug.

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. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)
9. Federal ownership of all banks (Click here)
10. Tax the very rich (.1%) more, with much higher, progressive tax rates on all forms of income. (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

Vertical gray bars mark recessions.

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