Home » Posts tagged 'paul craig roberts' (Page 13)
Tag Archives: paul craig roberts
Western Democracy Is An Endangered Species On Its Way To Extinction
Western Democracy Is An Endangered Species On Its Way To Extinction
The British Labour Party no longer represents the working class. Under UK prime minister Tony Blair, the Labour Party became a vassal of the One Percent. The result has been a rebellion in the ranks and the rise of Jeremy Corbyn, a principled Labourite intent on representing the people, a no-no in Western “democracies.”
Corbyn is too real for the Labour Party Blairites, who hope to be rewarded with similar nest eggs as Blair for representing the capitalist One Percent. So what is the corrupted Labour Party doing to prevent Corbyn’s election?
The answer is that it is denying the vote to Corbyn supporters. You can read the story here:
http://www.globalresearch.ca/britains-labour-party-purge-is-underway-preventing-supporters-from-voting-for-jeremy-corbyn/5471194
The illegal Egyptian military dictatorship that overthrew on Washington’s orders the first democratically elected government in Egyptian history has issued an edict prohibiting journalists from contradicting the military dictatorship. In brief, the dictatorship installed by Washington has outlawed facts.
Washington rejected the government that the Egyptian people elected, because it appeared that the democratically elected government would have a foreign policy that was at least partially independent of Washington’s. Remember, according to the neocons who, together with Israel, control US foreign policy, countries with independent foreign policies, such as Iran, Russia, and China, are America’s “greatest threats.”
The Egyptian military thugs, following Washington’s orders, have more or less eliminated all of the leadership of the political party that was democratically elected. The party was called the Muslim Brotherhood. In the presstitute Western media, the political party was described more or less as al Qaeda, and how are the ignorant, brainwashed, and propagandized Americans to know any difference? Certainly neither “their” government nor the presstitute media will ever tell them.
…click on the above link to read the rest of the article…
Central Banks Have Become A Corrupting Force
Central Banks Have Become A Corrupting Force
Are we witnessing the corruption of central banks? Are we observing the money-creating powers of central banks being used to drive up prices in the stock market for the benefit of the mega-rich?
These questions came to mind when we learned that the central bank of Switzerland, the Swiss National Bank, purchased 3,300,000 shares of Apple stock in the first quarter of this year, adding 500,000 shares in the second quarter. Smart money would have been selling, not buying.
It turns out that the Swiss central bank, in addition to its Apple stock, holds very large equity positions, ranging from $250,000,000 to $637,000,000, in numerous US corporations — Exxon Mobil, Microsoft, Google, Johnson & Johnson, General Electric, Procter & Gamble, Verizon, AT&T, Pfizer, Chevron, Merck, Facebook, Pepsico, Coca Cola, Disney, Valeant, IBM, Gilead, Amazon.
Among this list of the Swiss central bank’s holdings are stocks which are responsible for more than 100% of the year-to-date rise in the S&P 500 prior to the latest sell-off.
What is going on here?
The purpose of central banks was to serve as a “lender of last resort” to commercial banks faced with a run on the bank by depositors demanding cash withdrawals of their deposits.
Banks would call in loans in an effort to raise cash to pay off depositors. Businesses would fail, and the banks would fail from their inability to pay depositors their money on demand.
As time passed, this rationale for a central bank was made redundant by government deposit insurance for bank depositors, and central banks found additional functions for their existence. The Federal Reserve, for example, under the Humphrey-Hawkins Act, is responsible for maintaining full employment and low inflation. By the time this legislation was passed, the worsening “Phillips Curve tradeoffs” between inflation and employment had made the goals inconsistent. The result was the introduction by the Reagan administration of the supply-side economic policy that cured the simultaneously rising inflation and unemployment.
…click on the above link to read the rest of the article…
Insouciance Rules The West
Insouciance Rules The West
Europe is being overrun by refugees from Washington’s, and Israel’s, hegemonic policies in the Middle East and North Africa that are resulting in the slaughter of massive numbers of civilians. The inflows are so heavy that European governments are squabbling among themselves about who is to take the refugees. Hungary is considering constructing a fence, like the US and Israel, to keep out the undesirables. Everywhere in the Western media there are reports deploring the influx of migrants; yet nowhere is there any reference to the cause of the problem.
The European governments and their insouciant populations are themselves responsible for their immigrant problems. For 14 years Europe has supported Washington’s aggressive militarism that has murdered and dislocated millions of peoples who never lifted a finger against Washington. The destruction of entire countries such as Iraq, Libya, and Afghanistan, and now Syria and Yemen, and the continuing US slaughter of Pakistani civilians with the full complicity of the corrupt and traitorous Pakistani government, produced a refugee problem that the moronic Europeans brought upon themselves.
Europe deserves the problem, but it is not enough punishment for their crimes against humanity in support of Washington’s world hegemony.
In the Western world insouciance rules governments as well as peoples, and most likely also everywhere else in the world. It remains to be seen whether Russia and China have any clearer grasp of the reality that confronts them.
Lt. Gen. Michael Flynn, Director of the US Defense Intelligence Agency until his retirement in August 2014, has confirmed that the Obama regime disregarded his advice and made a willful decision to support the jihadists who now comprise ISIS. ( https://medium.com/insurge-intelligence/officials-islamic-state-arose-from-us-support-for-al-qaeda-in-iraq-a37c9a60be4 )
…click on the above link to read the rest of the article…
Gullible Americans Forever
Gullible Americans Forever
“Next the statesmen will invent cheap lies, putting the blame upon the nation that is attacked, and every man will be glad of those conscience-soothing falsities, and will diligently study them, and refuse to examine any refutations of them; and thus he will by and by convince himself that the war is just, and will thank God for the better sleep he enjoys after this process of grotesque self-deception.” — Mark Twain
Listening to NPR news today I was reminded how throughly this once independent voice has sold out.
I was also reminded of the Mark Twain quote above. NPR reported that Syrians were lined up in Turkey waiting on passage on inflatable rafts to Greece. According to the NPR report, there are 2 million Syrian refugees in Turkey and 250,000 Syrians have been killed. NPR said nothing about the cause of this murder and displacement of vast numbers of people. It was if the plight of these people materialized out of thin air. The fact that Washington sicced ISIS, al Qaeda, Turkey, the US and NATO Air Forces, and Washington’s Middle Eastern vassals on Syria was not mentioned. The view on NPR is the same as Washington’s — that if only Assad would resign and hand Syria over to Washington, everything would be fine.
Americans don’t go to bed every night unable to sleep from shame from the atrocities that the US government has inflicted on Syria. And on Iraq. And Libya. And Afghanistan. And Pakistan. And Yemen. And Somalia. And Ukraine. And Serbia. According to the prostitute media, all of these human catastrophes are the work of dark forces that America must combat. It is all a clever orchestration of public emotion in favor of the military/security complex’s bank balance.
…click on the above link to read the rest of the article…
The Social Cost of Capitalism
The Social Cost of Capitalism
Few, if any, corporations absorb the full cost of their operations. Corporations shove many of their costs onto the environment, the public sector, and distant third parties. For example, currently 3 million gallons of toxic waste water from a Colorado mine has escaped and is working its way down two rivers into Utah and Lake Powell. At least seven city water systems dependent on the rivers have been shut down. The waste was left by private enterprise, and the waste was accidentally released by the Environmental Protection Agency, which might be true or might be a coverup for the mine. If the Lake Powell reservoir ends up polluted, it is likely that the cost of the mine imposed on third parties exceeds the total value of the mine’s output over its entire life.
Economists call these costs “external costs” or “social costs.” The mine made its profits by creating pollutants, the cost of which is born by those who had no share in the profits.
As this is the way regulated capitalism works, you can imagine how bad unregulated capitalism would be. Just think about the unregulated financial system, the consequences we are still suffering with more to come.
Despite massive evidence to the contrary, libertarians hold tight to their romantic concept of capitalism, which, freed from government interference, serves the consumer with the best products at the lowest prices.
If only.
Progressives have their own counterpart to the libertarians’ romanticism. Progressives regard government as the white knight that protects the public from the greed of capitalists.
If only.
…click on the above link to read the rest of the article…
The US Economy Continues Its Collapse
The US Economy Continues Its Collapse
Do you remember when real reporters existed? Those were the days before the Clinton regime concentrated the media into a few hands and turned the media into a Ministry of Propaganda, a tool of Big Brother. The false reality in which Americans live extends into economic life. Last Friday’s employment report was a continuation of a long string of bad news spun into good news. The media repeats two numbers as if they mean something—the monthly payroll jobs gains and the unemployment rate—and ignores the numbers that show the continuing multi-year decline in employment opportunities while the economy is allegedly recovering.
The so-called recovery is based on the U.3 measure of the unemployment rate. This measure does not include any unemployed person who has become discouraged from the inability to find a job and has not looked for a job in four weeks. The U.3 measure of unemployment only includes the still hopeful who think they will find a job.
The government has a second official measure of unemployment, U.6. This measure, seldom reported, includes among the unemployed those who have been discouraged for less than one year. This official measure is double the 5.3% U.3 measure. What does it mean that the unemployment rate is over 10% after six years of alleged economic recovery?
In 1994 the Clinton regime stopped counting long-term discouraged workers as unemployed. Clinton wanted his economy to look better than Reagan’s, so he ceased counting the long-term discouraged workers that were part of Reagan’s unemployment rate. John Williams (shadowstats.com) continues to measure the long-term discouraged with the official methodology of that time, and when these unemployed are included, the US rate of unemployment as of July 2015 is 23%, several times higher than during the recession with which Fed chairman Paul Volcker greeted the Reagan presidency.
…click on the above link to read the rest of the article…
A Prescription for Peace and Prosperity
A Prescription for Peace and Prosperity
The question is often asked: “What can we do?” Here is a prescription for peace and prosperity.
We will begin with prosperity, because prosperity can contribute to peace. Sometimes governments begin wars in order to distract from unpromising economic prospects, and internal political stability can also be dependent on prosperity.
The Road to Prosperity
For the United States to return to a prosperous road, the middle class must be restored and the ladders of upward mobility put back in place. The middle class served domestic political stability by being a buffer between rich and poor. Ladders of upward mobility are a relief valve that permit determined folk to rise from poverty to success. Rising incomes throughout society provide the consumer demand that drives an economy. This is the way the US economy worked in the post-WWII period.
To reestablish the middle class the offshored jobs have to be brought home, monopolies broken up, regulation restored, and the central bank put under accountable control or abolished.
Jobs offshoring enriched owners and managers of capital at the expense of the middle class. Well paid manufacturing and industrial workers lost their livelihoods as did university graduates trained for tradable professional service jobs such as software engineering and information technology. No comparable wages and salaries could be found in the economy where the remaining jobs consist of domestic service employment, such as retail clerks, hospital orderlies, waitresses and bartenders. The current income loss is compounded by the loss of medical benefits and private pensions that supplemented Social Security retirement. Thus, jobs offshoring reduced both current and future consumer income.
…click on the above link to read the rest of the article…
Washington’s Fifth Columns Inside Russia and China
Washington’s Fifth Columns Inside Russia and China
It took two decades for Russia and China to understand that “pro-democracy” and “human rights” organizations operating within their countries were subversive organizations funded by the US Department of State and a collection of private American foundations organized by Washington. The real purpose of these non-governmental organizations (NGOs) is to advance Washington’s hegemony by destabilizing the two countries capable of resisting US hegemony.
Washington’s Fifth Columns pulled off “color revolutions” in former Russian provinces, such as Georgia, the birthplace of Joseph Stalin and Ukraine, a Russian province for centuries.
When Putin was last elected, Washington was able to use its Fifth Columns to pour thousands of protesters into the streets of Russia claiming that Putin had “stolen the election.” This American propaganda had no effect on Russia, where the citizen back their president by 89%. The other 11% consists almost entirely of Russians who believe Putin is too soft toward the West’s aggression. This minority supports Putin as well. They only want him to be tougher. The actual percentage of the population that Washington has been able to turn into treasonous agents is only 2-3 percent of the population. These traitors are the “Westerners,” the “Atlantic integrationists,” who are willing for their country to be an American vassal state in exchange for money. Paid to them, of course.
But Washington’s ability to put its Fifth Columns into the streets of Moscow had an effect on insouciant Americans and Europeans. Many Westerners today believe that Putin stole his election and is intent on using his office to rebuild the Soviet Empire and to crush the West. Not that crushing the West would be a difficult thing to do. The West has pretty much already crushed itself.
…click on the above link to read the rest of the article…
EU’s Greek Debt Austerity Plan Rejected By The IMF
EU’s Greek Debt Austerity Plan Rejected By The IMF
I have maintained since the so-called Greek Debt “crisis” began back in 2010, I believe it was,
that the imposition of austerity on Greece could not possibly work and that the only solution was to write down the debt to a level that Greece could service and introduce reforms that loosen the hold the oligarchs have on the Greek economy. The current Greek government has taken the same position, and now the IMF has joined us.
The IMF has said that debt relief measures, that is, write-downs, are necessary and that this necessary measure goes far beyond what the eurozone has offered so far. Asked if the plan could succeed without debt relief, the director of the IMF said, “categorically, no.”
This has been obvious from the beginning to any economist worthy of the name. The fact that
it has taken five years to establish an elementary fact shows how rapacious are the rich. Moreover, it proves in my opinion that the “crisis” was never about debt. It was about using the debt as a weapon to establish that creditors are not responsible for their mistakes when they overlend, and to force the centralization of member states’ tax and spending policies in the EU.
The austerity plan does not address debt. It imposes a draconian fiscal policy on the Greek government.
Supply and Demand in the Gold and Silver Futures Markets
Supply and Demand in the Gold and Silver Futures Markets
This article establishes that the price of gold and silver in the futures markets in which cash is the predominant means of settlement is inconsistent with the conditions of supply and demand in the actual physical or current market where physical bullion is bought and sold as opposed to transactions in uncovered paper claims to bullion in the futures markets. The supply of bullion in the futures markets is increased by printing uncovered contracts representing claims to gold. This artificial, indeed fraudulent, increase in the supply of paper bullion contracts drives down the price in the futures market despite high demand for bullion in the physical market and constrained supply. We will demonstrate with economic analysis and empirical evidence that the bear market in bullion is an artificial creation.
The law of supply and demand is the basis of economics. Yet the price of gold and silver in the Comex futures market, where paper contracts representing 100 troy ounces of gold or 5,000 ounces of silver are traded, is inconsistent with the actual supply and demand conditions in the physical market for bullion. For four years the price of bullion has been falling in the futures market despite rising demand for possession of the physical metal and supply constraints.
We begin with a review of basics. The vertical axis measures price. The horizontal axis measures quantity. Demand curves slope down to the right, the quantity demanded increasing as price falls. Supply curves slope upward to the right, the quantity supplied rising with price. The intersection of supply with demand determines price. (Graph 1)
…click on the above link to read the rest of the article…
The Politics of Timber Theft
The Politics of Timber Theft
Steal a Tree, Go to Jail; Steal a Forest, Meet the President
Republished here with permission is a chapter from Jeffrey St. Clair’s 2008 book, Born Under A Bad Sky. St. Clair has provided an outstanding report of corrupt government at work. Even environmentalists in the Forest Service who are appointed to protect our national forests are part of the looting corporatocracy.
The power of money can be stronger than the power of government. We can see the power of money in the looting of our national forests. Even the environmental agencies established by Congress to protect the environment have fallen under corporate control.
Elected politicians, even if they intend otherwise, end up serving the corporatocracy.
The impotence of government to serve the public interest and general welfare is an important lesson both for progressives, who believe in the curative powers of government, and libertarians, who believe that government is inimical to private interests.
As both parties serve the corporatocracy, elections can change nothing.
The Politics of Timber Theft
Stealing trees is as old as the King’s timber reserves. The sanctions for such sylvan thievery have always been harsh. In medieval England, it meant public torture and slow death. In the US, the levy was a kind of financial death penalty — triple damages plus serious jail time.
A couple of years ago, two tree poachers drove a log truck onto a small farm in central Indiana after midnight, cut down two 100-year old black walnut trees in the small woodlot, loaded the pilfered trunks onto their truck and fled across a cornfield. The county sheriff caught them when their truck stalled in the field and sank in the mud. It turns out that the men had been hired by a local sawmill owner, who was set to sell the lumber to a German timber broker. All three men were tried and convicted of tree theft.
…click on the above link to read the rest of the article…
Falsifying History In Behalf Of Agendas
Falsifying History In Behalf Of Agendas
In an article on April 13 ( http://www.paulcraigroberts.org/2015/04/13/power-lies/ ) I used the so-called Civil War and the myths with which court historians have encumbered that war to show how history is falsified in order to serve agendas. I pointed out that it was a war of secession, not a civil war as the South was not fighting the North for control of the government in Washington. As for the matter of slavery, all of Lincoln’s statements prove that he was neither for the blacks nor against slavery. Yet he has been turned into a civil rights hero, and a war of northern aggression, whose purpose Lincoln stated over and over was “to preserve the union” (the empire), has been converted into a war to free the slaves.
As for the Emancipation Proclamation, Lincoln said it was “a practical war measure” that would help in defeating the South and would convince Europe, which was considering recognizing the Confederacy, that Washington was motivated by “something more than ambition.” The proclamation only freed slaves in the Confederacy, not in the Union. As Lincoln’s Secretary of State put it: “we emancipated slaves where we cannot reach them and hold them in bondage where we can set them free.”
A few readers took exception to the truth and misconstrued a statement of historical facts as a racist defense of slavery. In the article below, the well-known African-American, Walter Williams, points out that the war was about money, not slavery. Just as Jews who tell the truth about Israel’s policies are called “self-hating Jews,” will Walter Williams be called a “self-hating black?” Invective is used as a defense against truth.
…click on the above link to read the rest of the article…
The Real Reasons For the Iran Agreement
The Real Reasons For the Iran Agreement
Obama is being praised as a man of peace for the nuclear agreement with Iran. Some are asking if Obama will take the next step and repair US-Russian relations and bring the Ukrainian imbroglio to an end?
If so he hasn’t told Assistant Secretary of State Victoria Nuland or his nominee as Vice Chairman of the Joint Chiefs of Staff, Air Force General Paul Selva, or his nominee as Chairman of the Joint Chiefs of Staff, Marine General Joseph Dunford, or his Secretary of the Air Force, Deborah Lee James.
The other day on Ukrainian TV Victoria Nuland declared that if Russia does not “fulfill its obligations,” by which she means to turn all of Ukraine over to Washington including Crimea, a historical Russian province, “we’re prepared to put more pressure on Russia.” During the past week both of Obama’s nominees to the top military positions told the US Senate that Russia was the main threat to the US, an “existential threat” even. With this level of war rhetoric in play, clearly Obama has no interest in reducing the tensions that Washington has created with Russia.
In my last column I wrote that the agreement with Iran does not mean much, because Washington can renew the sanctions at any time merely by making false charges against Iran. Obama knows this even if Lindsey Graham and John McCain pretend that they don’t know it.
The US and its proxies continue to murder people over a large area of the earth. Clearly Obama is not a man of peace, and neither are his European enablers and the United Nations. So what is the reason for the accommodation with Iran after many years of rabid demonization of a country for no other reason than the country insisted on its rights to nuclear energy granted by the Nuclear Non-Proliferation Treaty?
…click on the above link to read the rest of the article…
Greece’s Lesson For Russia
Greece’s Lesson For Russia
“Greece’s debt can now only be made sustainable through debt relief measures that go far beyond what Europe has been willing to consider so far.” — International Monetary Fund
Greece’s lesson for Russia, and for China and Iran, is to avoid all financial relationships with the West. The West simply cannot be trusted. Washington is committed to economic and political hegemony over every other country and uses the Western financial system for asset freezes, confiscations, and sanctions. Countries that have independent foreign policies and also have assets in the West cannot expect Washington to respect their property rights or their ownership. Washington freezes or steals countries’ assets, or in the case of France imposes multi-billion dollar fines, in order to force compliance with Washington’s policies. Iran, for example, lost the use of $100 billion, approximately one-fourth of the Iranian GDP, for years simply because Iran insisted on its rights under the Non-Proliferation Treaty.
Russian journalists are asking me if Obama’s willingness to reach a deal with Iran means there is hope a deal can be reached over Ukraine. The answer is No. Moreover, as I will later explain, the deal with Iran doesn’t mean much as far as Washington is concerned.
Three days ago (July 14) a high ranking military officer, Gen. Paul Selva, the third in about as many days, told the US Senate that Russia is “an existential threat to this nation (the US).” Only a few days prior the Senate had heard the same thing from US Marine commander Joseph Dunford and from the Secretary of the Air Force. A few days before that, the Chairman of the US Joint Chiefs of Staff warned of a Russian “hybrid threat.”
…click on the above link to read the rest of the article…
