The Best Column Ever from Paul Craig Roberts?

Introduction by Eric Zuesse

Roberts has written so many articles that are shockingly true and powerful. Selecting one as being the best is really impossible, because he has produced perhaps half of all of the best opinion or news-commentary articles that have been produced and made available online. (The only way to improve on them would have been for him to have added links to sources for each one of his bold assertions, but he’s in his eighties, and this is one old dog who doesn’t need to learn any news tricks, because he has so carefully researched everything he says, and thus has established a long track-record of having been truthful and correct.)

The sheer courage of Paul Craig Roberts, to separate himself so publicly from the very same corrupt system that he had formerly served with distinction, and thus knowingly to isolate himself from that incredibly powerful and wealthy circle and place himself now among an elite of the opposite type, as admirable as the former one was despicable, is itself shocking, and this shockingly established fact radiates through all of his writings for over a decade now. Perhaps it is the case that as a news-commentator, he has no peer.

But his article that was issued on his site on January 18th might be the best of them all. What do you  think?


The 21st Century: An Era Of Fraud

Paul Craig Roberts, 18 January 2016

In the last years of the 20th century fraud entered US foreign policy in a new way.  On false pretenses Washington dismantled Yugoslavia and Serbia in order to advance an undeclared agenda.  In the 21st century this fraud multiplied many times. Afghanistan, Iraq, Somalia, and Libya were destroyed, and Iran and Syria would also have been destroyed if the President of Russia had not prevented it.  Washington is also behind the current destruction of Yemen, and Washington has enabled and financed the Israeli destruction of Palestine.  Additionally, Washington operated militarily within Pakistan without declaring war, murdering many women, children, and village elders under the guise of “combating terrorism.”  Washington’s war crimes rival those of any country in history.

I have documented these crimes in my columns and books (Clarity Press).

Anyone who still believes in the purity of Washington’s foreign policy is a lost soul.

Russia and China now have a strategic alliance that is too strong for Washington. Russia and China will prevent Washington from further encroachments on their security and national interests. Those countries important to Russia and China will be protected by the alliance.  As the world wakes up and sees the evil that the West represents, more countries will seek the protection of Russia and China.

America is also failing on the economic front.  My columns and my book, The Failure of Laissez Faire Capitalism, which has been published in English, Chinese, Korean, Czech, and German, have shown how Washington has stood aside, indeed cheering it on, while the short-term profit interests of management, shareholders, and Wall Street eviscerated the American economy, sending manufacturing jobs, business know-how, and technology, along with professional tradeable skill jobs, to China, India, and other countries, leaving America with such a hollowed out economy that the median family income has been falling for years. Today 50% of 25 year-old Americans are living with their parents or grandparents because they cannot find employment sufficient to sustain an independent existance. This brutal fact is covered up by the presstitute US media, a source of fantasy stories of America’s economic recovery.

The facts of our existence are so different from what is reported that I am astonished. As a former professor of economics, Wall Street Journal editor and Assistant Secretary of the Treasury for Economic Policy, I am astonished at the corruption that rules in the financial sector, the Treasury, the financial regulatory agencies, and the Federal Reserve.  In my day, there would have been indictments and prison sentences of bankers and high government officials.

In America today there are no free financial markets.  All the markets are rigged by the Federal Reserve and the Treasury. The regulatory agencies, controlled by those the agencies are supposed to regulate, turn a blind eye, and even if they did not, they are helpless to enforce any law, because private interests are more powerful than the law.

Even the government’s statistical agencies have been corrupted. Inflation measures have been concocted in order to understate inflation. This lie not only saves Washington from paying Social Security cost-of-living adjustments and frees the money for more wars, but also by understating inflation, the government can create real GDP growth by counting inflation as real growth, just as the government creates 5% unemployment by not counting any discouraged workers who have looked for jobs until they can no longer afford the cost of looking and give up.  The official unemployment rate is 5%, but no one can find a job.  How can the unemployment rate be 5% when half of 25-year olds are living with relatives because they cannot afford an independent existence?  As John Williams (shadowfacts) reports, the unemployment rate that includes those Americans who have given up looking for a job because there are no jobs to be found is 23%.

The Federal Reserve, a tool of a small handful of banks, has succeeded in creating the illusion of an economic recovery since June, 2009, by printing trillions of dollars that found their way not into the economy but into the prices of financial assets.  Artificially booming stock and bond markets are the presstitute financial media’s “proof” of a booming economy. 

The handful of learned people that America has left, and it is only a small handful, understand that there has been no recovery from the previous recession and that a new downturn is upon us.  John Williams has pointed out that US industrial production, when properly adjusted for inflation, has never recovered its 2008 level, much less its 2000 peak, and has again turned down.

The American consumer is exhausted, overwhelmed by debt and lack of income growth. The entire economic policy of America is focused on saving a handful of NY banks, not on saving the American economy.

Economists and other Wall Street shills will dismiss the decline in industrial production as America is now a service economy. Economists pretend that these are high-tech services of the New Economy, but in fact waitresses, bartenders, part time retail clerks, and ambulatory health care services have replaced manufacturing and engineering jobs at a fraction of the pay, thus collapsing effective aggregate demand in the US. On occasions when neoliberal economists recognize problems, they blame them on China.

It is unclear that the US economy can be revived. To revive the US economy would require the re-regulation of the financial system and the recall of the jobs and US GDP that offshoring gave to foreign countries. It would require, as Michael Hudson demonstrates in his new book, Killing the Host, a revolution in tax policy that would prevent the financial sector from extracting economic surplus and capitalizing it in debt obligations paying interest to the financial sector.

The US government, controlled as it is by corrupt economic interests, would never permit policies that impinged on executive bonuses and Wall Street profits.  Today US capitalism makes its money by selling out the American economy and the people dependent upon it.

In “freedom and democracy” America, the government and the economy serve interests totally removed from the interests of the American people. The sellout of the American people is protected by a huge canopy of propaganda provided by free market economists and financial presstitutes paid to lie for their living.

When America fails, so will Washington’s vassal states in Europe, Canada, Australia, and Japan.  Unless Washington destroys the world in nuclear war, the world will be remade, and the corrupt and dissolute West will be an insignificant part of the new world.

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  • Yes indeed, he takes on all of the propaganda with great unrelenting fortitude! Here is another great example.

    January 19, 2016 Martin Luther King

    Like all false flag attacks and assassinations, the 1968 murder of Martin Luther King was covered up. In the King case James Earl Ray was the framed-up patsy, just as Oswald was in the case of President John F. Kennedy and Sirhan Sirhan was in the case of Robert Kennedy.

  • Openeye
  • Rick

    If you are content to “believe” that the end of this life is the end for “you” …

    If you are content to “believe” that life improves with ever-increasing growth …

    If you are content to “believe” that life improves with solutions to ever-increasing stresses …

    If you are content to “believe” that man actually creates “progress” in the natural world …

    Then? Why bother understanding anything? Everything is in good hands, regardless of PCR’s POV, or “redefininggod’s” POV. Regardless of who you support, surely, everything will end for the best, because they all operate off the same base of essential fundamentals, so regardless of who you support, you will arrive at the same destination.

  • I have a little trouble taking Roberts seriously. One example: he speaks of his book, “The Failure of Laissez Faire Capitalism”, and then he writes, “In America today there are no free financial markets.”

    You can’t have it both ways. Either there are free markets are there aren’t, Mr. Roberts. In America today, there is no free market. There are literally thousands and thousands of pages of laws, rules and regulations that control every facet of our lives, including the economics. These laws and regulations are selectively enforced and are often sponsored by big business. Free markets can’t fail where there are no free markets. What has failed is laissez faire government corporatism/fascism. This has given us the Imperial Empire that we now have.

    So, we seem to be living in a culture of authoritarians where the left applauds laissez faire government and the right applauds laissez faire militarism, or fascist leaning socialists and their opposition, socialist leaning fascists. Both of these groups wander in the darkness repeating “if only we can elect the right people” over and over and over. It is unfortunate that one of the laws of the universe is that people will reap what they sow.

    • marki

      interesting point! john barnwell noted in a skull and bones treatise that they polarise ie east vs west, communism vs capitalism, Muslim vs christian, right vs left,… set the extremes against each other then shape and rule whatever remains or emerges in the remaining middle.

    • Demonocracy

      “I have a little trouble taking Roberts seriously. One example: he speaks
      of his book, “The Failure of Laissez Faire Capitalism”, and then he
      writes, “In America today there are no free financial markets.”

      You’re not differentiating between “free markets” and “capitalism”. They are not the same thing. Capitalism is a word invented by Karl Marx also.

      • Explain that to Roberts. He throws in “laissez faire” – the abstention by government from interfering in the workings of the free market. It is he that conflates the differences. He should have named his little book “The Failure of State Capitalism” or perhaps “The Failure of Corporatism/Fascism”. He must be aware that no laissez faire exists in any area of life as the government interferes in every facet of our lives.

        • Demonocracy

          “He must be aware that no laissez faire exists in any area of life as the government interferes in every facet of our lives.”

          I beg to differ on this. Here’s why. What I think PCR is trying to say is the absence of regulation is mainly on the TBTF institutions but conversely small to medium businesses are regulated out of existence. In addition to this our economy through cronyism has created an oligarch class which is subject through a totally different regulation/unregulation than the rest of us. TBTF multi-national corporations get bailed out, and starting this year the TBTF banks get bailed-in. They also pay NO FEDERAL INCOME TAXES. Yes that’s right! Through a setup job called “corporate subsidies”, otherwise more commonly known as “corporate welfare”.

          Jobs offshoring is a form of deregulation which is mostly enjoyed by the largest multi-national corporations. How about the TPP in which the TBTF will be able to make their own rules?

          Read; Five Reasons the Super-Rich Need Government More Than the Rest of Us

          These all point out deregulatory benefits to the fat cats on Wall Street but heavy, heavy regulations for anyone with less capital than them. Plus they are above the law and we don’t.

          What PCR is calling for is the TBTF institutions to be held to the same standard of regulations as the rest of us and to be punished for fraud, extortion and rigging.

      • Jenn

        My understanding is that his book “The Failure of Laissez Faire Capitalism” refers to US economic policy ‘experiment’ adopted in 1980s and 1990s, which has failed. When he talks about there being no free financial markets in US today that is because since the 1987 Stock Market Crash when Plunge Protection Team (led by Greenspan, Robert Rubens and Regan) was brought in, this was when the rot started and the global financial markets started to become rigged and controlled by the Fed. Today, according to some guesstimates, c. 85% of trading on the markets is done algorithmicaly [Paul Craig Roberts & Max Keiser December 2016 ]

  • Simone Rattonne

    The best statement ever made by Dr. Paul Craig Roberts, which is also a self-fulfilled prophesy:

    People as uninformed and as gullible as Americans have no future. Americans are a dead people that history is about to run over.

  • saperetic

    Surely you can see Roberts is gatekeeping for the BRICS “savior” that is a concotion of the same BIS idiots who run The Fed. Does the term “banana in the tailpipe” mean anything to you all? Roberts thrives with that style. Stop worshipping the US, Russia, China and any country being used to usher in one world currency and one world government with Rothschild’s BIS using Rockefeller’s UN to head it all. He is gatekeeping by America bashing while kissing Russia and China’s a55 while ignoring the elephant in the room that is a world hegemony that has been using the US as a bad cop vassal and the BRICS as a good cop vassal. Protect your families and communities at the local level. Collectivism for the .01% is using every nation with a central bank. Roberts is a treasury twit that knows better but is deliberately withholding that information.

  • ShankyS

    PCR offers opinions that should be valued and respected. I greatly appreciate his work and efforts to wake us up to the true evil that runs the planet. We could use 1,000 more just like him.

  • Demonocracy

    Remember those articles on propaganda a couple of days ago on WB? Here’s what PCR had to say.

    “Years before I was an editor at the Wall Street Journal I was on the congressional staff, we took for granted that the Washington Post was a CIA asset” ~ Paul Craig Roberts in his interview with Greg
    Hunter at @24:10

  • LootersParadise

    I find a lot to agree with in PCR’s post, but it’s puzzling and irritating that this (ex?) Republican neglects to mention the Iraq war in his opening paragraph. I’ve noticed a pattern of similar omissions in his blog, over the years, as if he can’t process the fact that his “people” have been right there with the Dems, perpetrating the frauds he rails against.

    • Demonocracy

      He clearly mentions Iraq. 1st paragraph.

      “Afghanistan, Iraq, Somalia, and Libya were destroyed,
      and Iran and Syria would also have been destroyed if the President of
      Russia had not prevented it.”

  • George_Costanza

    Maybe we should get Theodore Kaczynski out of prison, and help fill him in.
    I think he had, at best, 2/3rds of the entire picture. [technology isn’t the problem, it is the real elitists-the 1/1,000,000 who direct it to suppress humanity, not enlighten and elevate man out of the dirt]
    Go get the trillionaire class first. Then take a look at their legates-the multi-billionaires.

  • michele klemetson

    This man has a lot of knowlege he put’s the action’s of Washington in easy to follow dialoge for the average person to absorb Thank’s very much Craig!