Forum Post: Paul Craig Roberts: the New Economy [is] a hoax, like Saddam Hussein’s “weapons of mass destruction” and the “war on terror”
Posted 5 years ago on Jan. 8, 2012, 12:24 p.m. EST by nomdeguerre
from Brooklyn, NY
This content is user submitted and not an official statement
"Jobs offshoring, financial deregulation, and ten years of wars have severely damaged the US economy and the economic prospects of 90% of the American population. The signs are everywhere in front of our eyes. . . .
"The New Economy was a hoax, like Saddam Hussein’s “weapons of mass destruction” and the “war on terror.” Americans were deceived by “their” corrupt government, by greed-driven corporations, and by corporate shills among economists and the pundit class into believing that they were trading middle class “dirty fingernail” jobs in manufacturing for better middle class “clean fingernail” high-tech service jobs. . . .
"As the US government is controlled by financial and armaments interests and not by the people, the government responded to the financial crisis by shoveling more debt and more hardships on the American people in order that financial interests did not have to pay for their own mistakes and crimes. . . .
"An important part of the bill is the huge number of new dollars being created in order to keep “banks too big to fail” afloat and in order to finance the federal government’s enormous budget deficit from its illegal wars. . . .
"The process of moving American jobs offshore left cities, counties, and states with shrunken tax base.The resulting state and local budget deficits are being used to dismantle public sector unions and to cut social services. Public assets, such as water companies, and future income streams from parking meters, toll roads and bridges, are being sold off to foreign buyers in order to insure another year of local and state government solvency. . . .
"The economic “recovery” that Washington and the financial press hype is all talk and no reality. . . .
"I cannot predict how long policymakers can hold economic armageddon at bay with spin, money creation, currency swaps, intervention in gold and silver markets, and outright lies. The onset could be sudden and take place this year, but we shouldn’t underestimate the power of spin over a gullible public that trusts “their” government and fervently believes that Muslim terrorists are out to get them and that the demise of the Constitution, the product of a eight hundred year struggle that produced Anglo-American civil liberty, is worth the price of “safety.”
"There is no safety in a police state and a debauched currency. The comfortable world that Americans have known is falling apart at the seams. "