“Yes, it is.” claims J. Moromisato, a complete political unknown, who is pitting his novel economic ideas against the millions of dollars and strong party support of his two main opponents in the race to fill the U.S. Senate seat for Colorado.
Colorado, August 16, 2010 — J. Moromisato, just certified to run for the seat currently occupied by Senator Bennet, is starting with zero dollars, but with a controversial plan: an economic plan to end unemployment—a plan to reduce the U.S. unemployment rate to zero.
Most people believe that unemployment can never drop below a certain level, which economists call the ‘natural’ level. They have yet to read Moromisato’s plan—called The Denver Plan to End Unemployment.
The Denver Plan calls for the implementation, at the national level, of eight main policies:
1. Full reserve lending (Freed Money), as the basis for a new financial system.
2. A Cap on Salaries, to neutralize the biggest advantage for Big Business.
3. No Taxes on Business Activities. “Do not tax what you want more of.”
4. A Cap on Incomes. The flow of money toward the rich is the main cause of unemployment.
5. A Balanced Budget. Government must recover all its expenses by taxing those who amass the nation’s money.
6. No Competition with Private Business. Government should not take away business opportunities from the private sector.
7. Balanced Trade. Government should impose higher tariffs on all goods coming from export-surplus countries (e.g., China, Japan, Russia, and most oil exporters), until a worldwide Balanced Trade Agreement can be implemented.
8. Create a U.S. Monetary Fund. A government facility to lend U.S. dollars to foreign countries (especially to those with trade deficits).
The Denver Plan is based on a new economic theory (J. Moromisato, “The Coming Age of Freed Money”, 2010), whose main finding is that the level of business activities, which translates into the number of job openings, depends strongly on the flow of money into the economy and between economic sectors. A deficient flow of money means unavailable loans, less investment, lower consumer spending, and finally, increased unemployment.
The recent Great Recession, like all previous recessions, provided a stark confirmation of this link between the flow of money and unemployment. The blockage of the flow of money caused a rapid increase in the number of unemployed people; only after the flow of money was restored did the jobless rate start to decline, ever so slowly. As in previous recessions, once the flow of money is restored so will the unemployment rate; but its ‘normal’ rate has never dropped all the way down to zero. Why? Because there are other monetary flows that are deficient: the private/public, the rich/poor, and the foreign/domestic flows of money. The Denver Plan aims at correcting each of these deficient flows of money, which would result in the eventual end of unemployment.
What’s in it for Colorado?
According to The Denver Plan, the Federal Reserve should be allowed to lend investment funds to the Federal, state, and local governments, at low or zero interest; in addition, a more solvent Federal Government would be able to share its income with all the states of the Union, especially with those most in need of financial assistance. Colorado could certainly use those new funds.
Solving All Other Problems
The most amazing aspect of The Denver Plan is that in the process of correcting the flow of money to end unemployment, it would solve the problems that concern us most today, such as the faulty financial sector, the lack of universal health insurance, the deficits in States’ pension funds, the future funding of Social Security, Medicare, and Medicaid, poverty and gross inequality, our energy dependence, funds for green energy, global warming, the high cost of prescription drugs, street crime, home security, illegal immigration, global poverty, and even wars and terrorism.
Please call 303 321-0577, or email [email protected], to schedule interviews, or request additional information. Or write to J. Moromisato for US Senate, 10021 E 26th Ave., Denver, CO 80238.