The Daily Bell says: Facts do not matter. Lies are O.K.

The Daily Bell is a right-wing / Libertarian website, in the business of selling gold to people who believe an essentially useless metal, which pays no interest or dividends, and costs money to ship, store, and insure, is a good investment or “real” money.

In short, they sell a pipe dream, so naturally, they are pro-Donald Trump.

Here are two descriptions of Trump’s latest speech, one from the Daily Bell and one from MSNBC.

First the Daily Bell description:

Trump Speech a Hit: Emotional Honesty May Be Pivotal to His Election Success
By Daily Bell Staff – June 23, 2016

Note that it’s not real honesty, but “emotional” honesty. What is “emotional” honesty? It’s when a person is a liar, but honestly feels emotional about his lies.

To the Daily Bell, this feeling of emotion about one’s dishonesty is admirable:

Donald Trump’s Latest Distortions on Hillary Clinton … A look at Trump’s assertions about Clinton on Wednesday and how they stack up with the facts … Donald Trump’s fierce denunciation of Hillary Clinton on Wednesday was rife with distortion. –AP/Fortune

Trump is not so concerned about statistical accuracy. He’s concerned about emotional honesty.

The other word for “statistical accuracy” is “facts.” What the Daily Bell seems to mean is: “Trump is not concerned about facts. He appeals to emotions. That’s the kind of man we want for the leader of the free world — an emotionally sincere liar.”

NPRs Mara Liasson called the speech one that “Republicans Have Been Waiting 20 Years To Hear.”

Donald Trump did what Republicans have begged their presidential candidate to do for months — lay out the case, from A to Z, against Hillary Clinton.

What they mean is “LIE out the case . . .” The Daily Bell apparently delights in lies.

Trump didn’t hold back in a blistering speech Wednesday. He went through chapter and verse of every criticism — based in fact or conspiracy theory — against the Clintons.

Except there were no facts and lots of conspiracy theories.

In sum, Trump said, Hillary Clinton may be “the most corrupt person ever to seek the presidency of the United States” and a “world-class liar.”

If the Daily Bell believes Trump’s followers have no interest in facts, wait until he doesn’t deliver on his promises to them. Then those lies won’t seem so benign.

As he would be with a good movie, Trump isn’t interested in the plot so much as the feeling.

This AP article wants to diminish the speech based on places where Trump may have exaggerated or misstated.

He accused Clinton of announcing a withdrawal from Iraq that wasn’t on her watch, pulled numbers out of nowhere on her plan for refugees and went beyond the established facts behind the killing of the U.S. ambassador to Libya in stating starkly that she “left him there to die.”

But Trump doesn’t care about rigorous factual accuracy. He wants to get across the point that Hillary is corrupt and lies habitually.

“Rigorous, factual accuracy” is known as “the truth” in the real world. Trump doesn’t care about the truth.

Trump also lambastes Hillary for corruption (accepting jewelry) and for wanting higher taxes and higher spending.

The AP article sets the record straight on these issues. Again, Trump exaggerates.

But it really doesn’t matter.

So Trump lies about his claims that Hillary is a liar, “but it really doesn’t matter”?

Is this the most ridiculous upside-down attempt to excuse the worst candidate in recent memory? The Daily Bell thinks lying is bad except when Trump does it, in which case it’s “emotional honesty.”

Remember Daily Bell’s views on honesty, the next time they try to sell you gold. If they lie to you, it doesn’t matter, so long as their emotions are “honest.”

Here is MSNBC’s take on the same speech:

Donald Trump gets lost beneath ‘an avalanche of falsehoods’

Most of the attacks were predictable and clumsily delivered, but the most striking thing about this morning’s scripted address was its breathtaking dishonesty.

In theory, if Clinton were as awful as Trump and Republicans claim, it should be fairly easy to deliver a speech condemning her using facts and real-world evidence.

Instead, as Slate’s Jamelle Bouie put it, Trump leaned on “an avalanche of falsehoods.”

It’s hard to even know where to start; the lie-to-sentence ratio approached one to one.

Trump said he opposed the war in Iraq before the 2003 invasion, which isn’t true. He said Clinton’s email server was hacked, which isn’t true.

Trump said Clinton wants “totally open borders” and an end to “virtually all immigration enforcement,” which isn’t even close to being true.

Trump lied about Syrian refugees. He lied about the loan he received to start his business.

He lied about U.S. tax rates. He lied about Benghazi (more than once). He lied about the Clinton Foundation. He lied about gifts Clinton received during her tenure as Secretary of State.

And really, this is just a sampling. If there had been a machine in the room that buzzed every time Trump said something untrue, the thing would have caught fire by the time the candidate wrapped up his remarks.

Remember, if Trump had been speaking off the cuff, it might be easier to defend some of these obvious and demonstrable falsehoods; he and his allies might be able to say he got confused or lost his train of thought.

But this was Trump reading on a teleprompter from a prepared text. In other words, Trump deliberately made a whole lot of claims that weren’t in any way true – all while accusing his rival of being a “liar.”

By some measures, this morning’s ridiculous tirade should have been a disqualifying moment for Trump: it served as powerful evidence that the candidate is so disconnected from reality, he hardly understands what the truth is.

Perhaps the Daily Bell’s gold hawkers don’t care about facts. And perhaps those hypnotized by the Trump circus act don’t care whether their hero is telling them the truth.

But somehow, I suspect the great majority of Americans are more interested in hearing the facts about situations and plans than experiencing a litany of sophomoric insults and lies.

The BS act gets a bit stale, and this is no time for circuses.

The futures of America and Americans and our children are at stake.

Dump the clown.

Rodger Malcolm Mitchell
Monetary Sovereignty

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

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

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

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

The Ten Steps will grow the economy, and narrow the income/wealth/power Gap between the rich and you.

MONETARY SOVEREIGNTY

“Running for President is a pretty good gig.” The Trump story

Have you ever wondered why the Republicans had 18 people running for President?
Have you ever wondered about the real reason Donald Trump is running for President?

In May, Republican Senator, Lindsey Graham said, “I’m thinking about running for president. You get a house and a car and a plane. It’s a pretty good gig.”

Indeed it is a pretty good gig, as Rick Santorum, Herman Cain, Michele Bachman, Sarah Palin, Mike Huckabee and others can testify. Those are some of the political celebrities whose means of support comes mostly from running for President and/or having run for President.

For instance, Rick Santorum: This is the Evolution denier who, in the November 7, 2006, election, lost by more than 700,000 votes, yet runs for President every term. Seemingly, running for President, and the fame he receives, are the basis for his primary income sources.

But Santorum, Cain et al are mere pikers compared with Donald Trump.

Here is what the Washington Post had to say:

“Of the $63 million his campaign spent through May, more than $6 million — close to 10% — went to Trump properties or to reimburse Trump or his family for expenses.”

How did he do that? Ask Rachel Madow, who on her show gave viewers these statistics about where Trump’s contributor’s money went:

  1. Trump International Golf Club: $29715
  2. Trump National Golf Club: $35,845
  3. Mar-a-Lago Club: $423,000 (Trump rented his own private home. It’s where he lives in the winter. And the $423,000 was for May only.)
  4. Trump Tower (NY): $520,000 (Trump rented his own apartment in New York. It’s where he lives in the summer.)
  5. Trump’s own private jet: $4.6 MILLION (Trump rented his own private jet)
  6. Trump National Doral: $26,000
  7. Trump Hotel, Chicago: $11,000
  8. Trump Plaza: $99,000
  9. Trump Post Office/Hotel: $5,000 (Don’t ask me what this is)
  10. Trump SOHO: $5,000 (Huh?)
  11. Trump Winery: $5,000 (It’s owned by his son-in-law. I don’t want to draw inferences, but three expenses, each for $5,000??)
  12. Trump Restaurants: $125,080
  13. And there are expenses for Trump Grill, Trump Ice (wha??), Trump Cafe

My gosh, does this guy have any personal expenses? Contributors have taken care of his summer home and his winter apartment and much of his food and transportation. What’s left?

And then there are Trump’s books, which he likes to hawk during is paid-for speeches. Nice personal income, there.

Yes, running for President is a “pretty good gig,” especially for a self-proclaimed billionaire, who wants to deport immigrants, who in total, probably don’t have his income or wealth.

But, undoubtedly, Trump will offer his followers some very wonderful reasons why all that money needs to go to him, and his followers will believe, because as we all know, Trump is a very truthful man:

Fact-Checking Trump’s Speech

TRUMP’S CLAIM: Hillary Clinton “is a world class liar”

The facts: According to PolitiFact, 59% of Trump’s checked claims have been deemed false or “Pants on Fire” false, versus 12% for Clinton.

Donald Trump:
True: 2%
Mostly True: 7%
Half True: 15%
Mostly False: 17%
False: 40%
Pants on Fire: 19%

Hillary Clinton:
True: 23%
Mostly True: 28%
Half True: 21%
Mostly False: 15%
False: 11%
Pants on Fire: 1%

If Hillary is a “world class liar” what does that make Donald?

Let me count the ways: Liar, greedy, bigot, con man, fear monger, narcissist, mean-spirited, ignorant about foreign affairs, ignorant about economics, ignorant about science, inexperienced.

Does that pretty much cover it?

Be sure to contribute your hard earned dollars to this rich man’s campaign. He needs your help, so he can continue to enjoy his “pretty good gig.”

Rodger Malcolm Mitchell
Monetary Sovereignty

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

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

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

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

The Ten Steps will grow the economy, and narrow the income/wealth/power Gap between the rich and you.

What we can do about the poor. Yes, there is a solution.

The single biggest economic problem facing America and the world is the Gap between the rich and the rest.

The rich would have you believe the fault is with the poor, who are “lazy, criminal, and intentionally unsuitable parents.”

The rich claim the poor would rather wallow in poverty and ignorance, and receive what the rich term “free stuff,” than to work for a living.

It is a lie paid for by the rich and disseminated by the right-wing.

The left-wing would have you believe they truly wish to narrow the Gap.

But they too are bribed by the rich. They wring their hands in false compassion and fake helplessness, saying in effect, “We want to narrow the Gap, but the money isn’t there, so we can’t afford it.”

That too is a lie; that lie too is paid for by the rich.

The facts:
1. The poor are not at fault for their poverty, and
2. The federal government easily could afford to cure poverty in America.

1. THE POOR ARE NOT AT FAULT:

Lock Up the Men, Evict the Women and Children
Posted on May 29, 2016, By Chris Hedges

Matthew Desmond’s book, “Evicted: Poverty and Profit in the American City,” like Barbara Ehrenreich’s “Nickel and Dimed,” is a heartbreaking snapshot of the rapacious exploitation and misery we inflict on the most vulnerable, especially children.

It is a picture of a world where industries have been created to fleece the poor, and destroy neighborhoods and ultimately lives.

It portrays a judicial system that has broken down, a dysfunctional social service system and the license in neoliberal America to carry out unchecked greed, no matter what the cost.

Being poor in America is one long emergency. You teeter on the edge of bankruptcy, homelessness and hunger. You endure cataclysmic levels of stress, harassment and anxiety and long bouts of depression.

Rent strips you of half your income—one in four families spend 70 percent of their income on rent—until you and your children are evicted, often into homeless shelters or abandoned buildings, when you fall behind on payments.

A financial crisis—a medical emergency, a reduction in hours at work or the loss of a job, funeral expenses or car repairs—can lead inexorably to an eviction.

Creditors, payday lenders and collection agencies hound you. You are often forced to declare bankruptcy.

You cope with endemic violence, gangs, drugs and a judicial system that permits brutal police abuse and ships you to jail, or slaps you with huge fines, for minor offenses.

You live for weeks or months with no heat, water or electricity because you cannot pay the utility bills, especially since fuel and utility rates have risen by more than 50 percent since 2000.

Single mothers and their children usually endure this hell alone, because the men in these communities are locked up. Millions of families are tossed into the street every year.

The working poor, now half of the country, have fallen to levels of misery unseen since the Great Depression.

All of this misery — all of it — is funded by the rich. The rigged judicial system, the unaffordable rents, the creditors, the payday lenders, the collection agencies, the evictions — all at the behest of the rich.

“These days, there are sheriff’s squads whose full-time job is to carry out eviction and foreclosure orders,” Desmond wrote. “There are moving companies specializing in evictions, their crews working all day, every weekday.

“There are hundreds of data-mining companies that sell landlords tenant screening reports listing past evictions and court filings. These days housing courts swell, forcing commissioners to settle cases in hallways or makeshift offices crammed with old desks and broken file cabinets—and most tenants don’t even show up.

“Low-income families have grown used to the rumble of moving trucks, the early-morning knocks at the door, the belongings lining the curb.”

And it all is funded by the rich, and for the benefit of the rich, whose sole aim is to widen the Gap between them and the poor.

There is a lot of money to be made off the poor. They are defenseless. And the law is on the side of the predators.

As Desmond noted in his book, in “many housing courts around the country 90 percent of landlords are represented by attorneys, and 90 percent of tenants are not.”

A life of dead ends led many in Desmond’s book to make decisions that, on the outside, could be seen as irresponsible or foolish: withholding rent payments, or as Larraine Jenkins (not her real name) did, blowing her monthly allocation of food stamps on a dinner of lobster tails, shrimp, crab, lemon meringue pie and Pepsi.

But the present is unbearable, and the future, they know, is grim. So they block the future out and seek, for a moment, to make the present endurable.

It is why so many of the poor turn to drugs or alcohol. Jenkins, as Desmond wrote, was not “poor because she threw money away.” She “threw money away because she was poor.”

The rich point at the “Larraine Jenkinses” and exclaim to you in false horror, that the poor waste their food stamps on the high life. And you believe, because you hear the same lie, again and again.

Escape is denied to the poor. Consider college, the seeming door to freedom.

But, a poor child’s time is needed for earning family income. There is no time for college.

Even if the family can survive without the child’s income, college remains too expensive. “Free” tuition is costly. Who will pay for rent and food and books and clothing and a life away?

And then there is the bait and hook of student loans, the permanent indebtedness of loans based on excessive tuitions — loans that uniquely cannot be discharged in bankruptcy — forever indebtedness to the rich.

College loans are the indentured servitude of modern America, massively benefitting the rich lenders and enslaving America’s children.

As the right-wing sneers at the lazy, good-for-nothing poor, and the left-wing cries its crocodile tears for the unfortunate poor, both repeat The BIG LIE

You hear The BIG LIE every day. It’s told to you by the bribed politicians, the owned media, and by the paid university economists. The “BIG LIE says:

— The federal government somehow can run short of its own sovereign currency
— The federal government cannot afford to lift Americans out of poverty
— Lifting the poor would just make them lazier
— The federal government is too big, so spending should be cut.
— The so-called federal “debt” is unsustainable.
— Spending for the poor will cause hyperinflation

If you repeat a lie often enough it is perceived as truth. But the real truth is:

  1. The U.S. federal government cannot run short of the dollars it originally created from thin air merely by passing laws from thin air.
  2. Because the federal government cannot run short of dollars, it can afford to pay any bill of any size at any time.
  3. Just as you did not become lazy when your parents kept you from poverty, the poor will not become lazy if the federal government lifts them from poverty.
  4. Increased spending for the poor does not require federal government employment to grow, and even if it did grow, that growth would stimulate the economy, benefiting everyone.
  5. The federal “debt” isn’t even a debt; it is money deposited in T-security accounts at the Federal Reserve Bank — just bank deposits.
  6. Hyperinflation occurs when the Supply of money exceeds Demand. However, our Monetarily Sovereign government controls the money demand via interest rates. Historically, hyperinflation has caused excessive money creation and not the other way around.

The solution — and yes, there is a solution — would be the implementation of the Ten Steps to Prosperity:

THE TEN STEPS TO PROSPERITY:

1. ELIMINATE FICA (Ten Reasons to Eliminate FICA )
Although the article lists 10 reasons to eliminate FICA, there are two fundamental reasons:
*FICA is the most regressive tax in American history, widening the Gap by punishing the low and middle-income groups, while leaving the rich untouched, and
*The federal government, being Monetarily Sovereign, neither needs nor uses FICA to support Social Security and Medicare.

2. FEDERALLY FUNDED MEDICARE — PARTS A, B & D, PLUS LONG TERM CARE — FOR EVERYONE (H.R. 676, Medicare for All )
This article addresses the questions:
*Does the economy benefit when the rich afford better health care than the rest of Americans?
*Aside from improved health care, what are the other economic effects of “Medicare for everyone?”
*How much would it cost taxpayers?
*Who opposes it?”

3. PROVIDE AN ECONOMIC BONUS TO EVERY MAN, WOMAN AND CHILD IN AMERICA, AND/OR EVERY STATE, A PER CAPITA ECONOMIC BONUS (The JG (Jobs Guarantee) vs the GI (Guaranteed Income) vs the EB) Or institute a reverse income tax.
This article is the fifth in a series about direct financial assistance to Americans:

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

Economic growth should include the “bottom” 99.9%, not just the .1%, the only question being, how best to accomplish that. Modern Monetary Theory (MMT) favors giving everyone a job. Monetary Sovereignty (MS) favors giving everyone money. The five articles describe the pros and cons of each approach.

4. FREE EDUCATION (INCLUDING POST-GRAD) FOR EVERYONEFive reasons why we should eliminate school loans
Monetarily non-sovereign State and local governments, despite their limited finances, support grades K-12. That level of education may have been sufficient for a largely agrarian economy, but not for our currently more technical economy that demands greater numbers of highly educated workers.
Because state and local funding is so limited, grades K-12 receive short shrift, especially those schools whose populations come from the lowest economic groups. And college is too costly for most families.
An educated populace benefits a nation, and benefiting the nation is the purpose of the federal government, which has the unlimited ability to pay for K-16 and beyond.

5. SALARY FOR ATTENDING SCHOOL
Even were schooling to be completely free, many young people cannot attend, because they and their families cannot afford to support non-workers. In a foundering boat, everyone needs to bail, and no one can take time off for study.
If a young person’s “job” is to learn and be productive, he/she should be paid to do that job, especially since that job is one of America’s most important.

6. ELIMINATE CORPORATE TAXES
Corporations themselves exist only as legalities. They don’t pay taxes or pay for anything else. They are dollar-tranferring machines. They transfer dollars from customers to employees, suppliers, shareholders and the government (the later having no use for those dollars).
Any tax on corporations reduces the amount going to employees, suppliers and shareholders, which diminishes the economy. Ultimately, all corporate taxes come around and reappear as deductions from your personal income.

7. INCREASE THE STANDARD INCOME TAX DEDUCTION, ANNUALLY. (Refer to this.)
Federal taxes punish taxpayers and harm the economy. Being Monetarily Sovereign, the federal government has no need for those punishing and harmful tax dollars. There are several ways to reduce taxes, and we should evaluate and choose the most progressive approaches.
Cutting FICA and corporate taxes would be a good early step, as both dramatically affect the 99%. Annual increases in the standard income tax deduction, and a reverse income tax also would provide benefits from the bottom up. Both would narrow the Gap.

8. TAX THE VERY RICH (THE “.1%) MORE, WITH HIGHER PROGRESSIVE TAX RATES ON ALL FORMS OF INCOME. (TROPHIC CASCADE)
There was a time when I argued against increasing anyone’s federal taxes. After all, the federal government has no need for tax dollars, and all taxes reduce Gross Domestic Product, thereby negatively affecting the entire economy, including the 99.9%.
But I have come to realize that narrowing the Gap requires trimming the top. It simply would not be possible to provide the 99.9% with enough benefits to narrow the Gap in any meaningful way. Bill Gates reportedly owns $70 billion. To get to that level, he must have been earning $10 billion a year. Pick any acceptable Gap (1000 to 1?), and the lowest paid American would have to receive $10 million a year. Unreasonable.

9. FEDERAL OWNERSHIP OF ALL BANKS (Click The end of private banking and How should America decide “who-gets-money”?)
Banks have created all the dollars that exist. Even dollars created at the direction of the federal government, actually come into being when banks increase the numbers in checking accounts. This gives the banks enormous financial power, and as we all know, power corrupts — especially when multiplied by a profit motive.
Although the federal government also is powerful and corrupted, it does not suffer from a profit motive, the world’s most corrupting influence.

10. INCREASE FEDERAL SPENDING ON THE MYRIAD INITIATIVES THAT BENEFIT AMERICA’S 99.9% (Federal agencies)Browse the agencies. See how many agencies benefit the lower- and middle-income/wealth/ power groups, by adding dollars to the economy and/or by actions more beneficial to the 99.9% than to the .1%.

Save this reference as your primer to current economics. Sadly, much of the material is not being taught in American schools, which is all the more reason for you to use it.

The Ten Steps will grow the economy, and narrow the income/wealth/power Gap between the rich and the rest.

Let us stop believing the lies of the rich, and begin to make this a better world. Demand the Ten Steps to Prosperity.

Even if you have no compassion for the poor, do it for your own sake. Prosperity will benefit you, too.

Lifting the poor will not merely save the poor; it will save America. It’s not just charity; it’s not just patriotism; it’s self-preservation.

Does the American public really wish to reduce gun violence?

Yesterday, we published “Five Solutions to Gun Violence.”

It contained five proposals, each of which if implemented, would reduce gun violence — if that is what the American public wants.

The title question is, “does the American public really wish to reduce gun violence,” or does it prefer to address small side problems, while pretending it is doing something about the main cause of gun violence?

The “more-guns = less-gun-violence” myth is akin to “more-anger = fewer-anger-crimes,” or “more-greed = fewer-crimes-of-greed.”

Reality doesn’t work that way.

If you really want to make sure someone stays lost give him a bad roadmap. Sending him on a wild goose chase will waste his time and energy far better than simply doing nothing.

In that vein, today I saw an article titled,“Omar Mateen, an ‘Americanized Guy,’ Shows Threat of Lone Terrorists” Here are a few excerpts to show how far off course we have been sent:

Omar Mateen had been on a terrorism watch list for incendiary comments he once made to co-workers at a local courthouse.

But the F.B.I. soon ended its examination of Mr. Mateen after finding no evidence that he posed a terrorist threat to his community.

Thus, we see the beginnings of the “blame the FBI” bad roadmap. The notion is that if only the FBI had done its job, Mateen would have been prevented from killing all those people in Orlando.

That is what the gun manufacturers want you to believe. They want you to waste your time, energy, and intellect trying to find ways to make the FBI better able to stop gun violence. They want you to follow a bad roadmap.

The government investigation could take months, but an early examination of Mr. Mateen’s life reveals a hatred of gay people.

This is the second bad roadmap — the search for reasons why this individual did what he did.

The hope is that if we knew he killed those people because he hated gay people, we could prevent future killings by . . . by what?

By somehow convincing bigots that gay people are good people? Is that the plan upon which we will expend thousands of hours and millions of words?

He was a man who could be charming, loved Afghan music and enjoyed dancing, but he was also violently abusive.

Family members said he was not overly religious, but he was rigid and conservative in his view that his wife should remain mostly at home.

The F.B.I. director said on Monday that Mr. Mateen had once claimed ties to both Al Qaeda and Hezbollah — two radical groups violently opposed to each other.

He could act like the NRA’s mythical “good guy,” and he also could act like a “bad guy.” No news there. That describes millions of Americans. Where does that lead us in any effort to reduce gun violence?

Investigators now face the question of how much the killings were the act of a deeply disturbed man, as his former wife and others described him, and how much he was driven by religious or political ideology.

Let’s say that after wasting months of tedious investigation, we conclude he was “deeply disturbed” (whatever that means). What then? How does “deeply disturbed” get us one inch closer to preventing the next gun murder?

Arrest all the “deeply disturbed” people, forever?

Unlike Al Qaeda, which favors highly organized and planned operations, the Islamic State has encouraged anyone to take up arms in its name, and uses a sophisticated campaign of social media to inspire future attacks by unstable individuals with no history of embracing radical Islam.

So, shall we search for all the “unstable individuals with no history of embracing radical Islam”?

How many millions of those do you think live in America? What about your dopey brother-in-law, or your goofy next-door neighbor. Are they unstable, with no history of embracing radical Islam?

What shall we do when find them? Arrest them all and keep them in jail indefinitely, for being “unstable”?

Mr. Mateen might have been gay but chose to hide his true identity out of anger and shame.

A senior federal law enforcement official said on Monday that the F.B.I. was looking at reports that Mr. Mateen had used a gay dating app, and patrons of Pulse were quoted in news reports as saying that he had visited the club several times.

So he may have been a guy ashamed of his identity. Should the FBI arrest all Americans who secretly are insecure about some aspect of their lives?

He came to the F.B.I.’s attention in 2013, when some of his co-workers reported that he had made inflammatory comments claiming connections to overseas terrorists, and saying he hoped that the F.B.I. would raid his family’s home so that he could become a martyr.

The F.B.I. opened an investigation and put Mr. Mateen on a terrorist watch list for nearly a year.

Mr. Mateen said he had made the incendiary remarks “in anger” because his co-workers had ridiculed his Muslim background and he wanted to scare them. The F.B.I. closed its investigation and took him off the terrorist watch list.

The F.B.I. interviewed Mr. Mateen a third time, but determined that his ties to the suicide bomber were not significant. The bureau had no further contact with Mr. Mateen.

Mr. Comey defended the work of his agents, although the bureau’s handling of the case is likely to be the subject of scrutiny and criticism in the coming weeks.

They interviewed him multiple times and put him on a terrorist watch list, all to no avail. Meanwhile, the gun industry laughs at their efforts, for none of this has any effect on gun violence. It’s all misdirection.

In fact, the inevitable failures to prevent gun violence beget more gun purchases. Orlando will prove to be another financial windfall to the gun makers, as more people are sold on the false notion that carrying a gun will protect them from future mass murders.

Still, cases such as these rankle F.B.I. counterterrorism agents, who believe they draw criticism for any choices they make — either for leaving cases open too long, or for closing cases that don’t seem to have enough evidence.

Don Borelli, a retired F.B.I. counterterrorism supervisor in New York, said there was a danger in criticizing agents who close investigations for lack of evidence. “Can we allow people’s futures to be affected if there is no proven basis for it? That’s the flip side to all this,” he said.

Sally Yates, the deputy attorney general, told reporters on Monday that the Justice Department might look to adopt new procedures that would alert counterterrorism investigators if someone who had been on a terror watch list tried to buy a gun.

And if she had been alerted, then what? How would Ms. Yates use that information to prevent future shootings?

“Why did he do this?” his father asked. “He was born in America. He went to school in America. He went to college — why did he do that? I am as puzzled as you are.”

To prevent our finding answers, the gun lobby and their voice, the politicians, has led us down a number of false paths. The purpose is to misdirect us.

They want us to scatter our efforts, by asking:
–“Why did he do it?”
–“What can be done about terrorism?”
–“What can be done about mass murder?”
–“What can be done about undocumented immigrants?”
–“What can be done about Muslims?”
–“What can be done about the mentally unstable?”
–“What can be done about hatred and bigotry?”
–“What can be done to preserve gun rights?”

Thousands of Americans are shot every year. Only a tiny percentage are shot by terrorists, mass murderers, the mentally unstable, undocumented foreigners, Muslims, or bigots. The vast majority of shootings are done by people who do not fit into any of the above categories.

The shooters are people who suddenly get angry, or who want to steal something, or who are part of a street gang guarding its turf. They are husbands and wives and children. They are smart and stupid.

Trying to solve the problems of terrorism, mass murder, the mentally unstable, etc., will make only the most minuscule difference in the overall shooting statistics. Each of these problems is more a diversion than a path to a solution.

That is the gun lobby’s plan. Change the subject. Change the focus, so no solution can be found.

The gun lobby doesn’t want you to know this, but the one common denominator for those thousand of American shootings is the easy availability of guns.

Anyone in America can buy a gun. Even if you are a convicted sex offender, multiple murderer, proven terrorist, child molester out on bail, you easily and legally can buy a gun.

Simply go to a gun show. Simply buy one online. Simply buy one from your neighbor or from a stranger in the street.

There is one, and only one way to reduce the vast number of gun murders: Reduce the availability of guns. Period.

Today, we hear politicians and media pundits debating everything from terrorism to insanity, pretending they are looking for solutions to all the gun murders. It’s all a facade, a pretense.

It’s like preventing dog bites by putting up a “no-collies allowed” sign. Even if the sign worked, and you eliminated all collies, there still will be thousands of dog bites.

The only way dramatically to reduce the number of shootings is to reduce the availability of guns as described in: Five Solutions to Gun Violence:

–Interpret the Constitution properly
–Remove the profit motive from gun manufacture and sales
–Eliminate gangs
–Greater penalties for gun carry during felonies
–Make gun ownership expensive; tax and license gun ownership

If we don’t do this, the gun lobby will continue to have us chasing our tails, searching in the wrong places for small solutions to small problems, while the big problem continues to bedevil us.

We return to the question that started this post: Does the American public really wish to reduce gun violence, or does it prefer to address small side problems, while pretending it is doing something about the main cause of gun violence?

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

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

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

The Ten Steps will grow the economy, and narrow the income/wealth/power Gap between the rich and you.
========================================================================================================================================================================================================================================================================================================

THE RECESSION CLOCK

Recessions begin an average of 2 years after the blue line first dips below zero. A common phenomenon is for the line briefly to dip below zero, then rise above zero, before falling dramatically below zero. There was a brief dip below zero in 2015, followed by another dip – the familiar pre-recession pattern.
Recessions are cured by a rising red line.

Monetary Sovereignty

Vertical gray bars mark recessions.

As the federal deficit growth lines drop, we approach recession, which will be cured only when the growth lines rise. Increasing federal deficit growth (aka “stimulus”) is necessary for long-term economic growth.

————————————————————————————————————————————————————————————————————————————————————————————————-

Mitchell’s laws:
•Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
•Any monetarily NON-sovereign government — be it city, county, state or nation — that runs an ongoing trade deficit, eventually will run out of money.
•The more federal budgets are cut and taxes increased, the weaker an economy becomes..

•No nation can tax itself into prosperity, nor grow without money growth.
•Cutting federal deficits to grow the economy is like applying leeches to cure anemia.
•A growing economy requires a growing supply of money (GDP = Federal Spending + Non-federal Spending + Net Exports)
•Deficit spending grows the supply of money
•The limit to federal deficit spending is an inflation that cannot be cured with interest rate control.
•The limit to non-federal deficit spending is the ability to borrow.

Liberals think the purpose of government is to protect the poor and powerless from the rich and powerful. Conservatives think the purpose of government is to protect the rich and powerful from the poor and powerless.

•The single most important problem in economics is the Gap between rich and the rest..
•Austerity is the government’s method for widening
the Gap between rich and poor.
•Until the 99% understand the need for federal deficits, the upper 1% will rule.
•Everything in economics devolves to motive, and the motive is the Gap between the rich and the rest..

MONETARY SOVEREIGNTY