BigMike Loc: yerington nv

Thanks for not missing an important part of my message. We have been manipulated for far too long by Establishment politics in bed with corporate and banking special interests to the detriment not only of the American people, but the people of the world! Not only is it possible to achieve cheap, clean abundant energy, that energy (fusion) could be coupled with things like water desalinization to provide water for thirsty parts of the planet. A fusion reactor could literally serve a dual purpose. The ability to do these things is within sight! People need to be made aware of these things, and how it could benefit them, personally, needs to be stressed.

emarine

Big Mike... What is really ironic is for the last 25 years my income has come from f****l f**ls, I think the powers that be will drain this planet to the last drop as long as it is profitable .... the fact they have suppressed G***n e****y is the biggest crime of the century

slatten49 Loc: Lake Whitney, Texas

I get, and agree with your points, BigMike. I was speaking to "our" generation as those of us 65+ years of age. The generations I was referring to were, primarily, my children and grandchildren's generations....and beyond.

I would love to live long enough to see the practical results of such energy developments. My comments were not meant to dismiss the urgency of developing those energy sources.

MarvinSussman

So who is going to pay for the research? The same guy who paid for fission energy and for the t***sistor, the computer, the internet: Uncle Sam. But he's broke! He has too many maturing treasuries! He has a financial crisis! Haven't you heard?

That's what the deficit hawks will tell you, but they are wrong. Uncle Sam makes the stuff. That's how we got money to fight World War II.

With what awful consequence? More than 35 years of prosperity without harmful inflation, even with very high taxes. And while spending lots of money on GI education and homes, on the Marshall Plan, on the Korean War, on the Cold War rearmament, on nuclear energy, on the Interstate Highway System, on NASA, on Vietnam, etc., etc.

Why is there no consequence of all that spending?

Q1: For the taxpayers, is our “national debt” really a burden that must be repaid?
A1: No. For the taxpayers, it lacks those two qualities of a real debt. It’s a “Debt In Name Only”, a “DINO”.

1. THE DINO IS NOT NOW AND NEVER WILL BE A TAXPAYER BURDEN.

The DINO is the total value of all maturing treasuries. By calling the DINO “unsustainable”, Wall Street con artists, plotting to privatize Social Security and make a fortune in commissions, have panicked the public, politicians, and journalists. But actually, it is not the taxpayers but the buyers of newly-issued treasuries who, in a virtual bond rollover, pay for redemption of the mature treasuries. In every auction, more bonds are demanded than are available. Auction winners get the safest, most liquid US dollar instruments; the losers are stuck with bank risk. If it were ever necessary, the Fed, with cost-free keystrokes, could create a demand for treasuries by buying large quantities in the open market. The taxpayer is NEVER burdened but almost all US v**ers are swallowing whole the Wall Street h**x!

Our Treasury is like a bank accepting money offered for certificates of deposit. While a bank with too many bad loans can certainly have too many maturing CDs, our non-lending Treasury cannot have too many maturing bonds unless its deficit spending is causing harmful inflation. And that happens ONLY in a war or emergency requiring rationing. It NEVER happens during a recession. During prosperity, banks are ALWAYS the main cause of inflation, creating over $6 of credit for every $1 of deficit spending. To curb inflation, regulate banks before cutting infrastructure projects.

2. THE DINO WILL NEVER BE REPAID AND SHOULD NEVER BE REPAID.

Only a budget surplus can reduce the DINO. Since Truman, no President has reduced the DINO and no annual budget surplus is now in sight. Indeed, to supply enough treasuries, the ONLY risk-free instruments used for trade collateral, insurance, pensions, bank reserves, etc., THE DINO MUST GROW WITH OUR ECONOMY. In fact, deflation and then depression will hit us hard unless large budget deficits replace the cash that we are now exporting.

Q2: Could savers make a “run” on US Treasury bonds?
A2: Only when savers can get risk-free returns from the Wall Street casino or from GM bonds, Illinois bonds, or Detroit bonds. Safety is not everything. Safety is the ONLY thing! That’s why the whole world relies on US bonds.

Q3. Could savers stop buying US Treasury bonds?
A3. Only when nobody needs risk-free interest for trade collateral, insurance, pensions, bank reserves, etc., etc.

Q4: Could savers prefer foreign sovereign bonds?
A4: Yes, indeed! Now, almost two thirds of the world’s reserve currencies are in US dollars and about half of all US Treasury bonds are held by foreigners. But if China’s infrastructure and productivity become better than ours, its sovereign bonds could become safer than ours. And that could happen only if US v**ers let their DINO concerns stop the renewal of falling bridges, failing schools, leaking sewers, creaking railroads, aging power grids, etc., etc.

Q5: Won’t we need higher tax rates to pay for infrastructure?
A5: The federal government does not need taxes for spending. Just as you would destroy your redeemed IOUs, the IRS destroys all of its receipts, shredding bills and melting coins for scrap. Since Congress cannot touch a cent of tax revenue, it creates new money out of thin air (just like your bank creates loans), deposits it in the Treasury, and spends it with checks. The Treasury auctions bonds to finance deficits that are limited ONLY by the will of Congress.

The ONLY rational reason to restrict deficit spending is the onset of harmful inflation. Until then, Congress can finance both the DINO’s annual debt interest and our much-needed infrastructure. Every day, you fill your kitchen sink with water AND you prevent it from overflowing. Why can’t Congress fill our economy with money building infrastructure AND prevent harmful inflation? China builds 24/7 without harmful inflation. Why can’t we do that?

Q6: How can increasing the DINO be good for the economy?
A6: Every federal dollar spent and not taxed is saved by the private sector. Yes! DEFICITS = SAVINGS! The bad “Debt Clock” is also the good “Assets Clock”. Since we are exporting cash, deficit spending is our economy’s SOLE source of savings! Well, our (DINO + total bank deposits) / GDP ratio is less than half of China’s comparable figure and our M2 (money supply) / GDP ratio is half of Switzerland’s ratio and one fourth of Hong Kong’s ratio. To become and stay prosperous, we need to DOUBLE the DINO / GDP ratio to return it to the World War II level that was followed by 35 years of prosperity without harmful inflation. Ask Grandma how it was in the good old days!

Q7: How much should Congress tax and spend?
A7: Ideally, Congress should tax just enough to prevent harmful inflation and should spend almost enough to cause full employment (and harmful inflation). Result: low unemployment and low inflation.

Instead, bribed by Wall Street, Congress taxes as little as possible, enriching the rich, and spends as little as possible, impoverishing the rest of us by restricting deficits / savings. Just as quacks k**led George Washington by bleeding his “bad blood”, Congress is destroying our younger generations by reducing (possibly to zero!) our annual budget deficits / private sector savings increase / consumer demand. And, by bribing Congress to pass austerity budgets, the Wall Street charlatans are deliberately nursing a huge army of unemployed labor to suppress the wages and working conditions of the shrinking middle class.

Result: recessions, high unemployment, an army of unemployed labor, a growing under-class, a scared work force, declining wages and consumer demand: a downward spiral of despair threatening deflation and depression. Growing ine******y will create a land of slums and gated communities: Hell on Earth!

Austerity today deprives our grandchildren of infrastructure that would surely enrich and possibly save their lives. We must educate all of them now and employ all of our resources to build the infrastructure that they will need when they become parents. Let’s follow Presidents Lincoln (railways, telegraph, land-grant colleges), Theodore Roosevelt (National Parks, Panama Canal), and FDR (TVA, PWA, WPA, etc.)

Q8: How should one v**e?
A8: V**e only for someone who NEVER EVER worries about the DINO and who ALWAYS worries about Americans looking for work and reluctantly drawing benefits forever instead of building infrastructure.

Q9: “I have to balance my budget. Why doesn’t Congress balance its budget?”
A9: If you could legally print money in your attic, why would you balance your budget? Congress only needs to balance full employment against harmful inflation. Why is something so simple so hard to see?

To stay ahead of China, please help me convince v**ers that Congress, limited ONLY by the onset of harmful inflation, must build infrastructure”…to promote the general Welfare and secure the Blessings of Liberty to ourselves and our Posterity…” Please copy and distribute this message wherever you can.

BigMike Loc: yerington nv

Big oil need not worry. The demand for petroleum for many other products is not likely to decrease, and it will still be necessary as a lubricant. Big oil should be encouraged to invest in the research needed to switch to fusion. For once it would be nice to see an industry ahead of the curve on something like this instead of playing catch-up like the auto industry had to do in the 80s after Japanese cars took over much of the market.

BigMike Loc: yerington nv

99% of your post has nothing to do with this thread. To all who are interested in the direction this thread has taken, I would advise you to ignore Marvin and his attempt sabotage this conversation.

BigMike Loc: yerington nv

Your generation has the most experience and should have the greatest foresight. We (the world!) need you to see this as something you can begin to affect now. We need you to come out of retirement so-to-speak and exercise your voice and vision. I understood where you were coming from when you said what you did. I merely wish to point out how valuable you can be in this discussion and how easy it can be for people to dismiss an issue that is vital.

MarvinSussman

I am trying to show you how to pay for your desired energy. Do you want to depend on deficit hawks?

BigMike Loc: yerington nv

It would be nice to find out how many are intrigued by the idea before going into the nuts and bolts of it.

Constitutional libertarian Loc: St Croix National Scenic River Way

I believe your talking solar power as in heating water to either radiate heat or to turn a turbin that in turns powers a generator. What I mean is photoelectric cells that turn the light photons directly into electricity. I need to research the science I'm thinking we are currently able to capture something like 2%. Plants I believe do something like 8% but don't quote me on these numbers until I can verify. Do you see the potential here?

Anyways I think I just made your point research to begin with.

MarvinSussman

I can answer that question for you right now. Anyone with an IQ over 75 is interested in cheaper energy. The problem is time. Now is the time that the National Science Foundation is begging Congress for fusion energy funding and deficit hawks are holding it up. TODAY!!!!

http://news.sciencemag.org/2013/04/obamas-2014-science-budget-research-gets-some-help-and-hurt

I***ts like you v**e for deficit hawks because you don't understand fiat currency and absolutely refuse to learn.

Coos Bay Tom Loc: coos bay oregon

Very interesting I would like to find out more about fusion energy

permafrost Loc: Minnesota

Thanks Mike, these issues are dear to my heart and vital to the future..The possibilities and many, but fusion should become a major research area...

slatten49 Loc: Lake Whitney, Texas

BigMike, your passion has moved me to not only familiarize
myself with the subject, but to contact my congressman, and Senators' offices on the matter. My ignorance in the field of science limits my being much of an activist, outside of pressure on my political representatives.

Retirement HAS made me somewhat complacent, short of involvement with Family & friends, but my overall admiration for you lends me to do what I can. My Family, especially my grandchildren, deserve the effort, at least.

LAwrence

Behind closed doors in smoke filled rooms the so called right and left have been cooperating for a long time. Of course they are fighting in the open to see who gets to run things.