MarvinSussman

You printed my statement but did not dispute my statement. You simply complained about what Congress was doing or not doing. In effect you are simply changing the subject. If you don't like what Congress is doing or not doing, you have to elect different members of Congress. Please help me do that.

MarvinSussman

In effect, you are saying that e******ns can't change gummint but gummint has to be changed. How do you propose to change gummint?

eagleye13 Loc: Fl

I am not sure "gummint" can be changed. but at least more people may figure out who is screwing them. That way less people are chasing their tails, or going after straw men.

More may follow the "money", and go after THE FED.

DamnYANKEE

And yet , they are Still , SO STUPID , they don't get it . Probably Never Will . Add TOO LAZY to the TOO STUPID

eagleye13 Loc: Fl

That takes educating the people to the FED s**m. Using both political parties. I have been trying to do that for 45 years.

MarvinSussman

You can only get to the Fed through Congress. Change Congress and Congress can change the Fed.

Incidentally, we need the Fed to clear checks and set the funds rate. That's about all the Fed does. Exactly what do you want changed and how?

permafrost Loc: Minnesota

[quote=eagleye13]SOCIAL SECURITY CARD !

eagleye13,

You are wildly misinformed or willfully lying, I will let you tell me which.


Yes, SS has changed a lot from the days of FDR.

I will not use pages to debunk/correct what you posted, but I will touch a couple points.

LBJ, yes he was a turd, but but his change was to have the treasury use SS fund to buy treasury notes. The interest from the notes went into the general fund, not the SS money.

Reagan, the greatest theft ever of the SS fund was via the great BSer.... A trillion and half dollars from the tax increase on the worker drones, was to fix the SS for the influx of the boomer generation. But rather then its intended use, that huge sum went to save the budget from Reagan tax cuts and policy which was a failure. Not enough money after giving it all to his rich buds.. So the administration used it and bailed him and his henchmen out and we are paying to this day and the foreseeable future..

Immigrants.... Yes, immigrants are entitled to SS. But only if they paid in via a work history. They get nothing different from any US worker. The same amount, based on what they paid in to SS while working.. No net effect other then any other worker has on the system..

Pages can be written about all the outright robbery done to SS by politicians of both parties..

This is it for now..

eagleye13 Loc: Fl

Take away the power to control our "money" and economy.
Have our Congress to take back control of both.
Create US Notes, without interest paid to parasites.
JFK did. It cost him his life. As it did Linclon.
Any one have the balls now? Ron Paul was trying.
Now there few in Congress continuing to try and get it done.
Too few with any balls.

MarvinSussman

If you are literate, that is exactly what I am advocating here:

A PURELY RATIONAL VIEW OF CONGRESSIONAL SPENDING AND TAXING CONTAINING NO OPINIONS, ONLY FACTS AND LOGIC.

The intention of this essay is to convince v**ers that Congress has the power and the duty to create a strong and prosperous nation. If you find no fault with the following facts and logic, please copy and distribute the essay as widely as possible.

Our Constitution enables Congress to spend without income and sets no limit on its spending. (The words “income” and “deficit” do not appear anywhere in Madison’s Constitution.) Hence, Congress has primary responsibility for our economy. The President can only influence Congress in its spending.

Congress could spend without borrowing if it would only rescind its law that requires that the Treasury, by auctioning interest-bearing treasuries, borrow an amount at least equal to the annual federal budget deficit. Under the former gold standard regime, by offering savers a better investment than gold, that law protected our gold supply from depletion. The gold standard regime was dropped when our large trade deficit allowed foreign nations to threaten depletion of our gold supply. Since 1973, we have been under a fiat currency regime and have no need to protect our gold supply. Still enforced, the law unnecessarily increases federal debt and inhibits Congressional spending to build new infrastructure.

Those auctions are still said to prevent inflation by removing cash from the economy but the ultra-safe treasuries can also be posted as collateral for bank loans, yielding the equivalent in cash. During the past six years, the Fed has converted such privately-held assets worth over $3T into cash and is still worried about deflation! Congress can indeed spend without borrowing and unnecessarily increasing our debt.

For Congress, money is only a means of keeping score and is never a store of value. Congress can increase the value of the FEMA, Highway, Medicare, and Social Security trust funds without limit. To provide infrastructure everywhere, free universities, medical care for all, and sustenance for all not able to work, Congress needs only physical resources and time, limited only by the onset of harmful inflation.

Inflation is caused by too much money buying too few resources (goods and services) and is harmful whenever moderate interest rates cannot keep annual inflation below 3%. By promoting investment over saving, annual inflation between 2% and 3% is beneficial. Annual inflation below 2% is dangerously close to deflation, which is a disaster caused by too little money buying too many resources.

As its main purpose, federal taxation reduces inflation by confiscating money from consumers. When Congress under-taxes and/or over-spends, it causes harmful inflation, the only limit on Congress’ spending. When Congress over-taxes and/or under-spends, it causes harmful unemployment.

By consuming resources, Congress’ spending increases inflation, decreases deflation, and combats recessions. By consuming sufficient resources, Congress’ spending can bring recessions to an end.

More and/or better infrastructure improves our productivity and reduces our costs. Our nation’s wealth is increased whenever Congress, through private contractors, builds infrastructure by hiring people and resources that would otherwise remain idle. Also, the newly hired people combat deflation by their increased spending, which also promotes recovery from recessions. The Constitution obliges Congress to “secure the Blessings of Liberty to ourselves and to our Posterity.” When idle resources are available, failure to build infrastructure c***ts our grandchildren out of their rightful inheritance.

The “frictional” unemployment rate is that irreducible amount, generally assumed to be less than 4%, caused by people changing their occupations. Higher rates are due to chronic underspending by a Congress afraid of inflation that is mainly caused by bank lending, which creates the vast majority of our currency. The cure is better bank regulation, opposed by many in Congress! In the past century, the only serious inflations were caused by wartime or oil shortages, not by ordinary Congressional spending.

Pricing average annual construction labor at $40,000 and assuming that we have 150 million able workers, each percentage point of unemployment represents $60B of infrastructure not produced. Over our past 40 years of fiat currency, we have lost $2.4T worth of assets for every percentage point of average unemployment and its equivalent in underemployment and non-participation in the work force. At a 5% average excess unemployment rate, infrastructure worth $12T could have built enough energy resources and desalination plants to allow all our deserts to bloom and feed the world’s populations.

The above statements are true regardless of any federal debt. The so-called “debt crisis” is actually a potential inflation problem. If, within a brief time, a large number of treasury holders were to trade their treasuries for cash and spend all of it, harmful inflation could occur. However, those treasury holders would make such a trade and then get rid of all their US dollars only if, by our failure to maintain and renew our infrastructure for our grandchildren, we allow other nations to far exceed our productivity, surpass our manufacturing proficiency, and dominate us commercially in the world market.

Congress mandated the Federal Reserve System to seek “…maximum employment, stable prices, and moderate long-term interest rates…” In fact, it is only Congress itself that can directly carry out the “maximum employment” mandate by using its spending power to build infrastructure. Thus, Congress has shifted this critical responsibility onto a subordinate incapable of succeeding in the task.

Our future will be prosperous only if v**ers choose members of Congress who understand how building infrastructure affects the economy and “our Posterity”. V**e only for those who will rebuild America!
© 2015 Marvin Sussman All Rights Reserved. Permission granted only to copy entirely.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
This essay was inspired by the following authors: (e-books are available for about $10.)
*Mark Blyth, Brown U. Prof. of International Political Economy, author of “Austerity”, (Oxford U. Press)
*Francis X Cavanaugh, US Treasury economist for over 30 years, author of: ’’The T***h about the National Debt: Five Myths and One Reality’’ (Harvard Business School Press);
*Dr. Stephanie Kelton, Chair of the UMKC Economics Department, at NewEconomicPerspectives.org and, currently, Chief Economist of the Senate Budget Committee.
*Warren Mosler, economist, author of: ‘’Seven Deadly Frauds of Economic Policy’’ (Oxford U Press);
*Frank N Newman, former Deputy Secretary of the US Treasury, author of: ‘’Freedom from National Debt” (Two Harbor Press)

Sicilianthing

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Absolutely Beautiful for all the Clowns that have no clue what it really is...

I will send it to everyone again...

END THE IRS
END THE FED !

Thank You Eagle...keep it coming...