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The US Economy Is A House Of Cards

Every aspect of it is fraudulent, and the illusion of recovery is created with fraudulent statistics. The US economy is a house of cards. Every aspect of it is fraudulent, and the illusion of recovery is created with fraudulent statistics. American capitalism itself is an illusion. All financial markets are rigged. Massive liquidity poured into financial markets by the Federal Reserve’s Quantitative Easing inflates stock and bond prices and ...Read full article...

France Approves Largest Austerity Package in Years

Citing the legitimacy of the French goverment and that of the European Union as well as the credibility of France abroad, the French Prime Minister, Manuel Valls, defended Tuesday the biggest cuts in public spending in modern French history. Mr. Valls made his appeal after the vote that approved the cuts was led by a broken alliance between the National Assembly and the Socialist Party (PS ) of France. ...Read full article...

No Jobs, No Economy, No Prospects For Peace Or Life

Over the decades various administrations, seeking to improve their economic record, monkeyed with economic statistics to the point that the statistics are no longer meaningful. According to Friday’s (March 7) payroll jobs report, the US economy created 175,000 new jobs in February. If you believe that, I have a bridge in Brooklyn that I’ll let you have at a good price. Even if 175,000 jobs were created in February–remember ...Read full article...

Venezuela has the Highest Inflation in the World

The Central Bank of Venezuela (BCV ) unveiled Tuesday the scarcity index, which measures the total absence of assets and the inability to replace the equivalent of another brand in 2014. The report revealed the low supply of all goods in the domestic market. The index showed a total of 28%, the highest figure since the agency began to show that indicator, which confirmed an increase of 5.8% compared ...Read full article...

How Economists and Policymakers Murdered Our Economy

The economy has been debilitated by the offshoring of middle class jobs for the benefit of corporate profits and by the Federal Reserve’s policy of Quantitative Easing in order to support a few oversized banks that the government protects from market discipline. Not only does QE distort bond and stock markets, it threatens the value of the dollar and has resulted in manipulation of the gold price. See http://www.paulcraigroberts.org/2014/01/17/hows-whys-gold-price-manipulation/ ...Read full article...

Survival or Extinction: The Power of Money

(PART ONE: LIFE OR DEATH; PART TWO: FOLLOW THE MONEY; PART THREE: NEED NOT GREED; PART FOUR: TAMING THE WOLVES; PART FIVE: DISCARD ME NOT; PART SIX: HEAD AND HAND) Don’t be intimidated by the economic content of this article, about which you think you know little.  Economists hide very simple concepts behind fancy words to obscure the facts and monopolize knowledge so as to be able to advance ...Read full article...

The Case of the Missing Economic Recovery

Have you seen the economic recovery?  I haven’t either.  But it is bound to be around here somewhere, because the National Bureau of Economic Research spotted it in June 2009, four and one-half years ago. It is a shy and reclusive recovery, like the “New Economy” and all those promised new economy jobs.  I haven’t seen them either, but we know they are here, somewhere, because the economists said ...Read full article...

2014 Will Bring More Social Collapse

2014 is upon us.  For a person who graduated from Georgia Tech in 1961, a year in which the class ring showed the same date right side up or upside down, the 21st century was a science fiction concept associated with Stanley Kubrick’s 1968 film, “2001: A Space Odyssey.”  To us George Orwell’s 1984 seemed so far in the future we would never get there.  Now it is 30 ...Read full article...

The Economic Recovery is a “Statistical Illusion”

The payroll jobs report for November from the Bureau of Labor Statistics says that the US economy created 203,000 jobs in November. As it takes about 130,000 new jobs each month to keep up with population growth, if the payroll report is correct, then most of the new jobs would have been used up keeping the unemployment rate constant for the growth in the population of working age persons, ...Read full article...

The Federal Reserve and Wall Street “Assassinate the US Dollar”

Since 2006, the US dollar has experienced a one-quarter to one-third drop in value to the Chinese yuan, depending on the choice of base. Now China is going to let the dollar decline further in value.  China also says it is considering undermining the petrodollar by pricing oil futures on the Shanghai Futures Exchange in yuan. This on top of the growing avoidance of the dollar to settle trade imbalances means ...Read full article...

The Offshore Outsourcing of American Jobs: A Greater Threat Than Terrorism

Is offshore outsourcing good or harmful for America? To convince Americans of outsourcing’s benefits, corporate outsourcers sponsor misleading one-sided “studies.” Only a small handful of people have looked objectively at the issue. These few and the large number of Americans whose careers have been destroyed by outsourcing have a different view of outsourcing’s impact. But so far there has been no debate, just a shouting down of skeptics as “protectionists.” ...Read full article...

Escape From The Dollar

Paul Craig Roberts thinks the Fed has backed itself into a corner. A rise in interest rates would strengthen the dollar, give the dollar new life as world reserve currency, and halt the movement into gold, but a rise in rates would collapse the bond and stock markets and reduce the value of derivatives on the banks’ balance sheets. I asked Dr. Roberts if the Fed would sacrifice the ...Read full article...

Is U.S. Government Shutdown a Rehearsal for Privatization of the Federal State System?

The “shutdown” of the US government and the financial climax associated with a deadline date, leading to a possible “debt default” of the federal government is a money making undertaking for Wall Street.  Several overlapping political and economic agendas are unfolding. Is the shutdown –implying the furloughing of tens of thousands of public employees– a  dress rehearsal for the eventual privatization of important components of the federal State system? ...Read full article...

Worse Than The Great Depression, Gold And Silver Prices Will Explode

m4s0n501 Economist Dr. Paul Craig Roberts contends, “The situation is unsustainable.” It will blow up at some point, and Dr. Roberts predicts, “It will be worse than the Great Depression because in the Great Depression, prices fell along with employment. Now, prices will be rising and employment would be falling. . . . Gold and silver prices will explode in dollar terms.” Join Greg Hunter of USAWatchdog.com as he ...Read full article...

Oil May Fuel Militarization of the Arctic Region

As world powers team up to secure the ecology in the Arctic, the rivalry over its rich oil and gas resources is heating up. Michel Chossudovsky from the Centre for Research on Globalization explains that the battle for the North Pole is high on the global military agenda. Finding a way to extract the vast riches of the Arctic region without subjecting it to technological disasters is what leaders ...Read full article...
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