Dr. Paul Craig Roberts-COMMODITIES CRASH Makes 2008 Look Like a Cakewalk!

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Dr. Paul Craig Roberts is really fed up with the leadership in government the false economic figures being regurgitated from the lamestream press and the abundance of corruption in the US. Not one to mince words, he “tells it like it is”. 

As an intelligent man of integrity, he is disgusted at the current state of affairs. Dr. Robertssays, “Everyone wants good news, so the government makes it up. The latest fiction is that US real GDP grew 4.6% in the second quarter and 5% in the third.

 

 

 

• Where did this growth come from?
• Not from rising real consumer incomes.
• Not from rising consumer credit.
• Not from rising real retail sales.
• Not from the housing sector.
• Not from a trade surplus.

 

“The US economy–indeed the entire Western orientated economy from Japan to Europe–is a house of cards. Since the economic downturn began seven years ago, the entirety of Western economic policy has been diverted to the support of a few over-sized banks, sovereign debt, and the US dollar. 

Consequently, the economies themselves and the ability of populations to cope have deteriorated,” states Dr. Roberts.

“The financial markets are based on manipulation, not on fundamentals. The manipulation is untenable. With debt exploding, negative real interest rates make no sense. With real consumer incomes, real consumer credit, and real retail sales stagnant or falling, the stock market is a bubble. 

With Russia, China, and other countries moving away from the use of the dollar to settle international accounts, with Russia developing an alternative to the SWIFT financial network, the BRICS developing alternatives to the IMF and World Bank, and with other parts of the world developing their own credit card and Internet systems, the US dollar, along with the Japanese and European currencies that are being printed in order to support the dollar’s exchange value, could experience a dramatic drop in exchange value, which would make the import-dependent Western world dysfunctional.”
 

With 30% of 30-year old Americans and almost 50% of 25-year olds living with parents, with debt-based derivative instruments impacted by falling oil and industrial commodity prices, with the likelihood that the US and EU economic attack on Russia will fail and perhaps produce retaliatory measures that could bring down the European banking system, look for 2015 to be the year that Washington will cease to get away with its economic lies.

The financial media and Wall Street economists by refusing to ask obvious questions have left the American people unprepared for another drop in their living standards and ability to cope.

Roberts tells a story about having lunch with whores, that highlights his integrity in a cesspool of corruption. …..

 

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