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.
●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.
==================================================================================================================================================================

Energy control, beginning with the use of fire, has been the key component of mankind’s ascension and rule over the earth. Today, the economies of the world are very much influenced by the availability, costs and various side effects of different energy sources.

Newer methods of extracting oil have delayed “peak oil” (the point of maximum extraction) and oil depletion (the period of falling supplies).

But, clearly there is a limit to the number of fossils we can burn. And we needn’t belabor the damage from climate change and pollution fossil fuels cause.

Alternative sources of energy have not seemed to be sufficient to step into the breach. Current and anticipated science indicates that of all alternative sources, solar energy is the least polluting and the most available.

Solar energy also is quiet, can be installed in populated neighborhoods or in remote areas, and is quiet economical — almost free — once solar panels have been paid for.

Beyond large initial costs and the inefficient energy conversion of solar panels, there are huge problems with solar energy, particularly availability at night, on clouded days and for areas far from the equator, where it may be most needed.

In a world of Monetary Sovereignty realization, where money is understood not to be a limiting factor, neither would cost be a limiting factor. Given infinite financing, every rooftop, indeed every surface on earth could be paved with solar cells hooked up to giant batteries for night and cloudy energy availability.

But in addition to aesthetic concerns, the manufacture and installation of that number of solar panels, in of itself, would burn huge amounts of polluting energy.

Wind, water, nuclear and geo-thermal sources all have serious limitations that current and even projected science has not solved.

Without a breakthrough in non-polluting energy production and transmission, the future seems to hold an ever-decreasing lifestyle for humanity, with the ultimate being a return to “cave-man” existence.

But “breakthrough” often occurs unexpectedly (as witness the Internet and the smart phone):

Japan comes closer to beaming solar power from space: Mitsubishi makes breakthrough in sending energy wirelessly

–Microwaves delivered 1.8 kw of power – enough to run an electric kettle
–Power was sent through the air with to a receiver 170ft (55 metres) away
–Technology may someday help tap vast solar energy available in space
–Jaxa’s plan is to eventually have sunlight-gathering panels and antennae set up about 22,300 miles from the Earth

Japanese scientists have successfully transmitted energy wirelessly in a breakthrough that could pave the way for space-based solar power systems.

Mitsubishi researchers used microwaves to deliver 1.8 kilowatts of power – enough to run an electric kettle – through the air with pinpoint accuracy to a receiver 170ft (55 metres) away.

While the distance was relatively small, the technology could someday pave the way for mankind to tap the vast amount of solar energy available in space and use it here on Earth.

‘This was the first time anyone has managed to send a high output of nearly two kilowatts of electric power via microwaves to a small target, using a delicate directivity control device,’ said a spokesman for the Japan Aerospace Exploration Agency (Jaxa).

Human use of microwaves is not new. You may have used microwaves this morning if you “nuked” your bialy.

Even focusing microwaves is not new (See: Maser: microwave amplification by stimulated emission of radiation).

Susumu Sasaki, a professor emeritus at Jaxa, outlined the agency’s plans create a 1.8 mile long (3 km) man-made island in the harbour of Tokyo Bay.

The island would be studded with 5 billion antennas working together to convert microwave energy into electricity.

The microwaves would be beamed down from a number of giant solar collectors in orbit 22,400 miles (36,000 km) above the Earth.

Masers don’t focus as well as lasers, and the inevitable spread of microwaves costs energy as distances increase.

The “breakthrough” would be in the focus.

So one question becomes: Will the Japanese method, which focused a maser beam 170 feet, be able to focus a beam 22,400 miles, then capture it, without cooking every resident of Tokyo?

In a separate project, Shimizu Corporation revealed plans to cover the moon in a huge ring of solar panels around the moon’s equator.

Energy captured by these panels would then be sent to Earth using microwaves, and laser lights could be beamed directly to countries where it is needed.

According to the plans, the project would produce around 13,000 terrawatts of continuous solar energy. At present, the world’s population consumes (only) about 15 terawatts of power each year.

There is the difficulty in lifting many tons of solar panels into space, landing them on the moon and assembling them into a usable device, but like the Mitsubishi project, the real problem is the focused transmission of energy over long distances.

If Mitsubishi’s 170 feet can be escalated to many thousands of miles, mankind will have taken that giant leap Neil Armstrong mentioned.

It will mark the first phase of our access to infinite power — the first phase of our capturing ever increasing amounts of solar energy, ala a Dyson sphere.

THE DYSON RING

Rodger Malcolm Mitchell
Monetary Sovereignty

===================================================================================
The 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. Federally funded, 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. (Refer to this.)
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)

Initiating The Ten Steps sequentially 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

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

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.
●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.
==================================================================================================================================================================

It widely is known that:

Humans Have Ten Times More Bacteria Than Human Cells

Changes in these microbial communities may be responsible for digestive disorders, skin diseases, gum disease and even obesity.

We essentially are bacteria and virus containers.

It also is known that when species exist intimately, they tend to evolve to become mutually accommodating. As the flower evolves to better attract and feed the bee, the bee evolves to better pollinate the flower.

They each evolve to improve their own species’ survival.

The residents of the every living creature’s microbiome rely on the chemical and physical surroundings provided by various parts of that creature — the gut, skin, eyes, internal organs, hair, etc.

These residents, in turn, secrete chemicals that enhance their own survival, by affecting their surroundings, sometimes by protecting their host, sometimes not.

Consider the fungus, Ophiocordyceps unilateralis, that infects ants.

Spores of the fungus enter the ant’s body, then produce chemicals which act on the ant’s brain and alter its perception of pheromones.

The infected ant exhibits irregularly timed full body convulsions that dislodge it to the forest floor.

(The fungus then) causes the ant to climb a plant and, upon reaching the top, to clamp its mandibles around a leaf , securing it firmly to what will be its final resting place.

Why does the ant perform the unlikely act of climbing up a stalk and biting the leaf? Because, to whatever degree an ant may be said to have desires and free will, these are affected by chemicals secreted by the fungus — and affected not just generally but in a very specific way.

Consider the rabies virus.

Signs and symptoms may include paralysis, anxiety, insomnia, confusion, agitation, abnormal behavior, paranoia, terror, and hallucinations, progressing to delirium. The person may have hydrophobia.

Saliva production is greatly increased, and attempts to drink, or even the intention or suggestion of drinking, may cause excruciatingly painful spasms of the muscles in the throat and larynx.

The virus multiplies and assimilates in the salivary glands of the infected animal for the purpose of further transmission through biting, and the infected animal’s ability to transmit the virus will reduce significantly if he can swallow his saliva with/without external source of water.

All of these physical and emotional symptoms are caused by the virus, to increase the virus’s survival. The less water the victim drinks, and the more the dog or bat bites, the more rabies virus are transmitted to other creatures

How Your Cat Is Making You Crazy

A parasite, Toxoplasma gondii, excreted by cats in their feces, is the microbe that causes toxoplasmosis.

Healthy children and adults usually experience nothing worse than brief flu-like symptoms before quickly fighting off the protozoan, which thereafter lies dormant inside brain cells—or at least that’s the standard medical wisdom.

But if Jaroslav Flegr is right, the “latent” parasite may be quietly tweaking the connections between our neurons, changing our response to frightening situations, our trust in others, how outgoing we are, and even our preference for certain scents.

He also believes that the organism contributes to car crashes, suicides, and mental disorders such as schizophrenia.

All of the above serves as an introduction into one of the most fascinating issues of Scientific American Magazine I ever have read. The March, 2015 issue contains a full section titled, “The Microbiome.”

The essence of this series of articles is that the trillions of organisms occupying our body, secrete chemicals that affect us in myriad ways, not just our physical state, but our mental states — our thoughts, our beliefs, our desires, our emotions.

These organisms aren’t simply lying there, waiting for food and warmth. They are active and evolving for their own survival. And they evolve faster than we do.

Some kill us; some protect us — and some cause us to think in certain ways.

Mental Health May Depend on Creatures in the Gut

Scientists are increasingly convinced that the vast assemblage of microfauna in our intestines may have a major impact on our state of mind.

Microbes may have their own evolutionary reasons for communicating with the brain. They need us to be social, says John Cryan, a neuroscientist at University College Cork in Ireland, so that they can spread through the human population.

Scientists use germ-free mice to study how the lack of a microbiome — or selective dosing with particular bacteria — alters behavior and brain function.

When bred in sterile conditions, germ-free mice lacking in intestinal microbes also lack an ability to recognize other mice with whom they interact.

In other studies, disruptions of the microbiome induced mice behavior that mimics human anxiety, depression and even autism.

A research team at McMaster University in Ontario discovered that if they colonized the intestines of one strain of germ-free mice with bacteria taken from the intestines of another mouse strain, the recipient animals would take on aspects of the donor’s personality.

Paul Patterson, a neuroscientist and developmental biologist at the California Institute of Technology, (noticed) that women who suffer from a high, prolonged fever during pregnancy are up to seven times more likely to have a child with autism.

To investigate, Patterson induced flulike symptoms in pregnant mice with a viral mimic: an immunostimulant called polyinosinic:polycytidylic acid.

The offspring of Patterson’s MIA mice displayed all three of the core features of human autism: limited social interactions, a tendency toward repetitive behavior and reduced communication.

The human gut microbiome evolved to help us in myriad ways: Gut microbes make vitamins, break dietary fiber into digestible short-chain fatty acids and govern normal functions in the immune system.

Strains of Bifidobacterium, which is common in the gut flora of many mammals, including humans were more effective than Lexapro at treating anxious and depressive behavior in a lab mouse strain known for pathological anxiety.

This brief summary cannot do justice to the reports printed in Scientific American, but together they certainly lead to the conclusion that our microbiome, both inside our skin and on the surface, effect our emotions and our beliefs — which brings us to the question, how profound is this effect?

Surely, humans believe and feel some very strange things. We believe that war and killing are appropriate solutions to various problems.

We believe a magical, unseen, perfect being sees and directs our every move, understands our every thought, hears all our prayers, and maintains places of reward and punishment in an afterlife, for committing the very acts the being directs. (God).

We believe devices made for killing actually improve our safety. (Guns).

We worship or hate people we never have met, nor with whom we have had any interaction. (Star athletes or people of a different color).

We help a homeless, jobless stranger in the street, but urge the deportation of those who neither are homeless nor jobless. (Immigrants).

We believe the statements of those we know to be liars (politicians).

These belief ironies and many others, are directed by our emotions. It’s the old, “We believe what we want to believe” syndrome. But why do we want to believe?

Could it be that the selfishness or selflessness we feel is contagious, a result of “catching” our microbiome from the people around us?

Scientists attribute this “groupthink” to the psychological influence of human sociability, but could the microbiome be the real cause?

Could, for instance, bigots’ opinions about race result not just from psychological peer influence but from hosting the locally prevalent microbiome?

And when people refuse to accept logic and fact — and not just refuse, but angrily refuse — could this be their microbiome speaking?

Is that why Libertarians and Tea Party followers cannot be convinced about the facts of Monetary Sovereignty?

Is it that they simply cannot help themselves, because their microbiome is immune to reason?

Rodger Malcolm Mitchell
Monetary Sovereignty

===================================================================================
The 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. Federally funded, 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. (Refer to this.)
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)

Initiating The Ten Steps sequentially 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

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

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.
●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.
==================================================================================================================================================================

Here is an equation you should understand:
CRFB + Debt/GDP = BS

CRFB = Committee for a Responsible Federal Budget
Debt/GDP = the ratio of federal debt to Gross Domestic Product
GDP = Federal Spending + Non-federal Spending + Net Exports
BS = Ceaseless, constant, unrelenting bullsh*t

Now for the latest from the masters of deception, the CRFB (with assistance from the federal government).

CBO’s Analysis of the President’s FY 2016 Budget
March 12, 2015

Today, the Congressional Budget Office (CBO) released its re-estimate of the
President’s FY 2016 budget, using its own economic and technical assumptions.

According to CBO, debt held by the public in the President’s budget would reach 73.1 percent of GDP by 2025, 1 percentage point lower than in 2014 (and about what OMB estimated), but 1 percentage point higher than in 2020.

What does this mean? It means the total of deposits in T-security accounts at the Federal Reserve Bank will reach 73.1% of: Total spending by the federal government, plus spending by everyone else in America, plus Net Exports.

That’s the GDP = Federal Spending + Non-federal Spending + Net Exports equation.

If you are perceptive, you may wonder why Total Deposits in T-security accounts at the Federal Reserve Bank should be compared with everyone’s spending. Why, indeed?

The Committee for a a Responsible Federal Budget would like you to believe that for some mysterious reason, there should not be lots of deposits in T-security accounts, especially when compared with U.S. spending: The ultimate apples/oranges comparison.

CRFB’s Debt/GDP fear-mongering would be ludicrous if it weren’t so harmful.

Why then, do government agencies even bother to publish this meaningless fraction? The only reason I can imagine is: For a similar looking fraction, Deficit/GDP, has some value. That is, there is some value to comparing federal government deficit spending with total spending.

But federal deficits and federal debt debt are quite different. We could have deficits without debt (Simply stop accepting T-security deposits). And we could have debt without deficits (Continue to accept T-security deposits, while running a surplus).

For our Monetarily Sovereign U.S. government, that thing misleadingly called “federal debt,” isn’t what ordinary people would call “debt.” It’s really just the total of deposits in specific bank accounts, in this case, T-security accounts at the Federal Reserve Bank.

While technically, all bank account deposits are forms of debt, I doubt whether you spend many sleepless nights worrying about the amount of deposits in your neighborhood bank, and even fewer nights worrying about the amount of deposits in the Federal Reserve Bank.

But that is exactly what the CRFB wants you to worry about: The size of T-security deposits in Federal Reserve Bank accounts.

Now, if we were talking about monetarily non-sovereign state and local government borrowing, that would be a different story. For any monetarily non-sovereign entity (including you and me), debt and the repayment of debt, can be a real problem.

But for the Federal Reserve Bank, repayment of deposits requires only a transfer of existing dollars from T-security accounts to checking accounts. No problem at all, and no new dollars needed.

And the story gets even worse for the CRFB nonsense. They compare a non-problem, Federal Debt, to an unrelated figure, Gross Domestic Product.

Even for monetarily non-sovereign entities, the Debt/GDP fraction makes no sense.

For example, consider you and your cousin. You both are monetarily non-sovereign. You do not use your own sovereign currency, but rather you use the sovereign currency of the United States government, the dollar. Unlike the U.S., you cannot create dollars out of thin air.

Say you and your cousin both spend the same amount of money (i.e. your personal Gross Domestic Product), but you have half the debt your cousin has.

That is, your personal Debt/GDP is half of your cousin’s.

Who will have the easier time paying their debt, you our your cousin?

Answer: It’s a nonsense question, because you don’t pay your debt with your spending but rather with your income. And in the Debt/GDP fraction, there is no mention of income.

And while your monetarily non-sovereign income is limited, the Monetarily Sovereign federal government neither needs, nor uses, income. It creates dollars out of thin air, ad hoc, when it pays bills.

The CRFB article continues for six long pages, all pounding on the “high” debt and “high” debt/GDP ratio, and ends with this sentence:

In additional to tax reform and spending cuts, such entitlement reform will be necessary to put the county on a sustainable fiscal course for this and future generations.

First, as we have discussed, CRFB conflates “debt” with “deficit,” and demands decreases in the deficit to reduce the so-called “debt.” It doesn’t work that way.

And second, they love to use euphemisms to hide their economy-crushing suggestions:

“Tax reform” is a euphemism for “tax increase.” Any tax increase takes dollars out of the economy, and so is recessionary.

“Entitlement reform” is a euphemism for “cut benefits to the poor and middle income people. This serves to widen the Gap between the rich and the rest.

Here are some of the “entitlement reforms” the CRFB advocates:

–Reduce spending on prescription drugs

–Raise Medicare means-tested premiums and cost-sharing (i.e. punish the sick)
–Reduce spending on post-acute care (i.e. punish the recovering sick)
–Reduce farm subsidies (punish farmers)
–Increase Pension Benefit Guaranty Corp. premiums (make pensions riskier)
–Enact immigration reform (i.e. punish immigrants)

So, in addition to teaching nonsense, the CRFB advocates cruelty to the not-rich — and then complains it’s not enough.

What manner of people are these?

Rodger Malcolm Mitchell
Monetary Sovereignty

===================================================================================
The 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. Federally funded, 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. (Refer to this.)
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)

Initiating The Ten Steps sequentially 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

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

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.
●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.
==================================================================================================================================================================

Well, I haven’t yet heard from Stephanie Kelton, who I pray is setting straight the Senate Budget Committee, of which she is Chief Economist.

But, Maya MacGuineas is not so reticent. Here is her latest nonsense:

Debt Limit Returns After $1 Trillion of New Borrowing
March 12, 2015

On Monday morning, the debt limit will return, capping the total amount of federal borrowing. Recent estimates suggest that so-called “extraordinary measures” will sustain continued borrowing into the fall, before the debt ceiling is breached.

The following is a statement by Maya MacGuineas, president of the Committee for a Responsible Federal Budget.

“Politicians complain about raising the debt limit but put far too little effort in working to reduce the debt. Since the last time we suspended the debt limit, no effort has been made to put the debt on a more sustainable path.

“Instead, policymakers have actually increased deficits by enacting new spending and tax breaks to the tune of $100 billion.

“Of course, we must not breach or even threaten to breach the debt limit – doing so could have catastrophic results for the U.S. and world economy.

She must be referring to the “catastrophic results” that NEVER have occurred as a result of all past the “breaches” of the debt limit.

For those who do not understand federal financing: The federal debt is nothing more than the total of T-security accounts held at the Federal Reserve Bank.

These accounts essentially are bank savings accounts.

So why are they misleadingly called “debt.” Because all bank deposits are debts of banks. So strictly speaking, the so-called federal debt is nothing more than debt of the Federal Reserve Bank, not of the federal government.

How do banks “pay off” their savings account deposits (i.e. “debt”)? They simply transfer the dollars in those accounts to holders’ checking accounts.

So when Maya tells you the federal debt is “unsustainable,” she really is saying the Federal Reserve Bank somehow will be unable to transfer dollars from one bank account to another.

Huh?

No, really. That’s what she’s saying. And that is what has become known as the Big Lie.

We assume that Maya neither is stupid nor ignorant of the facts. We assume she knows the truth, which makes her BS even more appalling. Seemingly, she has so little regard for Americans, that she is willing to devote her life to spreading harmful ideas.

There is a word for someone who intentionally harms their own country. I’ll leave it to you, to fill in the blank.

Meanwhile, the Big Lie. continues:

“On Friday, the Committee for a Responsible Federal Budget will release a number of options to reform the debt limit so to make it a more effective tool to promote fiscal responsibility while reducing the risk of default.

She is trying to make you believe there is a “risk” that the United States federal government or the Federal Reserve Bank will default. Utter nonsense!

The only thing that could make the U.S. government default on its debts is if enough Congress people and the President follow Maya’s recommendations.

And there is nothing that could make the FRB default on its ability to transfer dollars from one bank account to another.

“Our leaders need a plan that will leave this country better off for future generations, not a new, clever trick to avoid making or recognizing the hard choices.”

Oh sure, she’s so-o-o-o-o very concerned about future generations that she wants to increase taxes and cut Social Security, Medicare, aids to education, aids to the poor, Research and Development, while increasing pollution, climate change and the destruction of our environment.

Our future generations surely will suffer bleak lives if “Mayaisms” are followed.

She really should be ashamed.

But right-wing dollars seem to have soothed her conscience.

Rodger Malcolm Mitchell
Monetary Sovereignty

===================================================================================
The 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. Federally funded, 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. (Refer to this.)
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)

Initiating The Ten Steps sequentially will add dollars to the economy, stimulate the economy, and narrow the income/wealth/power Gap between the rich and the rest.
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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

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