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Paul Craig Roberts
Institute for Political Economy
America's Moronic Iraq Policy Means More Muslim Immigration
According to all accounts the US faces its worse economic crisis since the Great Depression with $2 trillion in near-term financing needs for bailouts and economic stimulus. This is an enormous sum for any country, especially for one that is so heavily indebted that it is close to bankruptcy. If the money can’t be borrowed abroad, it will have to…
Read more »The Crisis Has Hardly Begun
“The prospects of a government rescue for the foundering American automakers dwindled Thursday as Democratic Congressional leaders conceded that they would face potentially insurmountable Republican opposition,” reported the NY Times last Friday. [Chances Dwindle On Bailout Plan For Automakers, By David M. Herszenhorn, November 13, 2008] Wow! The entire country is steamed up over the Republicans bailing out a bunch…
Read more »America's Economic Crisis Is Beyond The Reach of Traditional Solutions
By most accounts the US economy is in serious trouble. Robert Reich, an adviser to President-elect Obama, calls it a “mini-depression,” and that designation might be optimistic. The Russian economist, Mikhail Khazin says that the “U.S. will soon face a second ‘Great Depression.’” It is possible that even Khazin is optimistic. I cannot predict the future. However, I can explain…
Read more »Conned Again
If the change President-elect Obama has promised includes a halt to America’s wars of aggression and an end to the rip-off of taxpayers by powerful financial interests, what explains Obama’s choice of foreign and economic policy advisors? Indeed, Obama’s selection of Rahm Israel Emanuel as White House chief of staff is a signal that change ended with Obama’s election. The…
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