Economics
SODDY, FULLER AND MODERN MONETARY THEORY
Portions of this article have been previously published in Middle Wisconsin but the concepts are hopefully useful in understanding current economic issues confronting America and the world.
Born in the late 1800’s, Frederick Soddy and R. Buckminster Fuller led extraordinary lives. Soddy won the Nobel Prize in chemistry in 1921 and Fuller became known for his work in architecture, the geodesic dome and visionary thinking. Soddy was a British citizen, Fuller an American. Both were deeply rooted in science and the laws of physics, and both spent the latter half of their ...
WISCONSIN AND NICARAGUA ARE PARTNERS
Wisconsin and Nicaragua are partners. For fifty years, programs have provided assistance to people in Nicaragua of all ages. Programs help with natural resources and cultural diversity, with health and education.
For fifty years, the Wisconsin/ Nicaragua partnership has shown that working together brings good results.
Wisconsin and Nicaragua have commonalities:
++Each approximately 57,000 square miles
++Extensive stretches of coastline
++Large inland lake
++Valuable forest areas
++Agricultural production
The headquarters are in Nelson Hall of UWSP ...
THE UNIVERSAL ECONOMY UNIT XVI: THE MISLEADING USE OF TRADITIONAL ACCOUNTING/ECONOMIC TERMINOLOGY
The U.S. Government never – ever – borrows money. The U.S. Government is never – ever – in debt.
Ah, the heresy! How can one make such a ridiculous statement! Look at the National Debt Clock! It’s the end of the world! We’re mortgaging our great, great, great, great grandchildren into infinity! China will own us! It’s the end of the world!!!! Be afraid! Be very afraid! And on and on the insanity goes.
But let us ask ourselves - - - since the U.S. Government is the Constitutionally authorized creator of the nation’s money, why on Earth would it ever ...
WHAT DOES FOXCONN MEAN TO ME?
“Hard to wrap my head around,” the woman shared as she considered Foxconn. Just what do big budget decisions mean to us?
Work has begun on crafting the next state budget. Over the next few months, this work will continue in earnest. One hefty unbudgeted expense added to upcoming budget math is a large taxpayer funded payment to a foreign corporation.
Foxconn is the Taiwanese company building a manufacturing plant in southeast Wisconsin. To lure the company to our state, majority lawmakers and the governor created the largest state corporate give-away in American ...
THE UNIVERSAL ECONOMY UNIT XV: THE CRITICAL NEED FOR WAGE EARNING AMERICANS TO UNDERSTAND THE FEDERAL GOVERNMENT “DEFICIT”
It was the same fairytale spouted by President Ronald Reagan when he sold us the con-job of “trickle down” economics - - - “cutting taxes for the rich and corporations will lead to an economic boom, government revenue will increase, and everyone will live happily ever after.” Unfortunately, fairytales aren’t true and when congress once again cut taxes for the rich at the end of 2017, the result was the same as it has always been (and what the politicians voting for it know full well it will be). It Grew the Federal Government Deficit.
But when it comes to ...
Santa Claus and the Grinch
The annual Federal Government “deficit,” is the difference between the money Congress orders the US Treasury to create out of nowhere to spend into the economy and the money the US Internal Revenue Service removes from the economy through taxes. The Federal Government must operate in a “deficit” or there will be no money circulating in the economy to conduct private business. The “deficit” is a number on the Treasury’s computer screen. Nothing more.
Since 2016 the Republican Party has been in full control of our federal government. They own the Presidency ...
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 ...
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, ...
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 ...
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 ...