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Paul Craig Roberts
Institute for Political Economy
Observations On The Day: Idiocy Reigns Supreme
Americans are a doomed people for many reasons. One reason is that they are disunited and at one another’s throats and, thus, cannot stand up the tyranny issuing from Washington. For example, the governments of Georgia, Alabama, and Florida, states that share borders, have been fighting for more than two decades over the water in Georgia’s Lake Lanier, located a…
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A World Overwhelmed By Western Hypocrisy
Western institutions have become caricatures of hypocrisy. The International Monetary Fund and the European Central Bank are violating their charters in order to bail out French, German, and Dutch private banks. The IMF is only empowered to make balance of payments loans, but is lending to the Greek government for prohibited budgetary reasons in order that the Greek government can…
Read more »Can The Fed Stop Quantitative Easing?
If the Fed stops QE, confidence in the US dollar would rise. Money would flow into US investments, both supporting the US stock market and helping to finance the large US budget deficit. Gold and silver prices would decline. Negative dollar expectations would be squeezed out of oil and grain prices, although drought, flood, and supply factors would continue to…
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Conspiracy Theory
While we were not watching, conspiracy theory has undergone Orwellian redefinition. A “conspiracy theory” no longer means an event explained by a conspiracy. Instead, it now means any explanation, or even a fact, that is out of step with the government’s explanation and that of its media pimps. For example, online news broadcasts of RT.com have been equated with…
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Hail Caesar
Although the financial press speculates about a downgrade of the US government’s credit rating and default if political impasse prevents the debt ceiling from being raised in time, I doubt anyone really believes that the debt ceiling will not be raised. It is just all a part of the political theater of the next couple of months. Republicans will blame…
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