Economics


UE UNIT XIV Ignoring common sense and arguing with the laws of physics

Image yourself a passenger on an ocean liner crossing the Atlantic from Europe to New York City. The voyage goes well until one of the ship’s boilers explodes just 20 miles from the shores of America. A massive hole is blown in the side of the vessel. Water rushes in and the ship begins to sink. There will be no time for rescue help to arrive. Thankfully the weather is calm and there are more than adequate lifeboats for everyone aboard.Passengers gather near the sides of the ship as the lifeboats are set to launch. Just as everyone prepares to climb into the boats ...

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Socialism Supports the Troops… So Why Not the Rest of Us?

This year a number of candidates for state and national offices are running as democratic socialists. Many of these candidates are women and minorities. AND they are being successful in the primary elections! It appears that younger voters are looking for real solutions to our problems and are not as susceptible to meaningless attack ad labels.Bernie Sanders is a democratic socialist. But Bernie does not intend to change the structure of the economy. Rather he simply advocates making the economy work better by being more inclusive. His support for universal healthcare, ...

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A Tale of Two States

“It's the economy stupid.” James Carville, aide to Bill Clinton in the 1992 presidential race.In the Wisconsin election for governor the state of the economy is a big issue. Governor Scott Walker claims to be improving the state's economy and making Wisconsin “open for business” with his conservative policies. But prosperity has not trickled down to many working people or to many areas of the state. Minnesota took a different path and the results have been better. Who gets elected does make a difference in the lives of people. Wisconsin voters should take ...

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UE UNIT XIII The deadly false belief that taxes pay for spending

We must get this through our heads. At the Federal Level:“TAXPAYER DOLLARS” DO NOT PAY FOR GOVERNMENT SPENDING. THE US TREASURY IS THE CONSTITUTIONALLY AUTHORIZED CREATOR OF THE NATION’S MONEY. GOVERNMENT SPENDING IS THE SOURCE OF TAXPAYER DOLLARS. NOT ONE PENNY OF TAXPAYER MONEY IS EVER NEEDED, OR USED, TO PAY FOR FEDERAL GOVERNMENT SPENDING.Whenever progressives or their leaders at the federal level thoughtlessly accept the false premise that taxes pay for government spending, they are effectively saying the Government of the United States of America has no ...

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THE UNIVERSAL ECONOMY UNIT XII: THE RICH CLASS WAR ON SOCIAL SECURITY

ec“Social Security” is unusual because unlike most other government programs, we pretend a specific tax finances it. That makes it easy to mentally match payroll tax revenues and benefit payments, and to calculate whether the 75- year actuarial balance is positive or negative. No one knows or cares whether the defense program runs actuarial deficits -- because we don't pretend that a particular tax pays for defense. In reality, Social Security benefits are paid in exactly the same way that the government spends on anything else - by crediting somebody's bank ...

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THE UNIVERSAL ECONOMY UNIT XI: RICH CLASS WAR ON AMERICA – AVOIDING “HOW ARE YOU GOING TO PAY FOR IT” TRAP

We tend not to see the obvious. In Unit X of this series we saw how whenever government spending or increasing the Federal deficit benefits the rich, not a question is asked. Congress approves a blank check, the US Treasury creates, out of nowhere, the requested money, and the US Federal Reserve Bank issues the funds into the economy.When 16 trillion government created fiat dollars are needed to bail out corrupt Wall Street banks, not a single politician questions, “How are you going to pay for it?” When the wealthy CEO’s from arms corporations want a 100-billi...

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THE UNIVERSAL ECONOMY UNIT X: THE SECOND STEP IN FIGHTING THE RICH CLASS WAR – QUIT ACCEPTING THE LIE

We, as working citizens of America, are led to believe a great deal of misinformation about the monetary functioning of our nation. It serves the rich class waging economic war on us. To understand this, we must take a moment to review the operation of the United States as a sovereign nation utilizing a sovereign fiat currency: The U.S. Government, through the U.S. Treasury and Federal Reserve Bank (the Fed) is the creator of all of the nation’s money. The U.S. Government can never run out of money. Subject to controlling inflation/deflation, there is no limit ...

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CHILD POVERTY IN WISCONSIN INCREASES

A definitive new report by one of the top poverty research centers in the country reveals that in 2016 Wisconsin poverty increased by over 10% and child poverty increased by a shocking 20%.You can read more about the report and what it means for our campaign to end child poverty in Wisconsin on a new section of the End Child Poverty Wisconsin website. On that page, we’ll be posting information about poverty in Wisconsin and the U.S. you can use to show others in your community why this effort is so important.It is significant that this increase in poverty in ...

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FAIR TIME TO MEET A FARMER

This week I attended the Wisconsin Valley Fair; this fair and the many others that will be happening around our area this month is a celebration of our family farms, community values and our rural way of life. But all the things we celebrate at these fairs are slipping away. Family farms are closing, communities are growing smaller and smaller as young people leave. Our rural way of life is disappearing. It’s clear that what we have been doing is not working and we need new leadership in our state to bring back rural Wisconsin. Farmers, the backbone of the rural ...

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THE UNIVERSAL ECONOMY UNIT VIX: FIGHTING BACK AGAINST THE RICH CLASS WAR BEING WAGED ON AMERICA

fiat dollars
“The check arrived out of the blue, issued in his name for $1,200, a mailing from a consumer finance company. Stephen Huggins eyed it carefully. A loan, it said. Smaller type said the interest rate would be 33 percent. Way too high, Huggins thought. He put it aside.A week later, though, his 2005 Chevy pickup was in the shop, and he didn’t have enough to pay for the repairs. He needed the truck to get to work, to get the kids to school. So Huggins, a 56-year-old heavy equipment operator in Nashville, fished the check out that day in April 2017 and cashed it.W...

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