The Diminishing American Economy Paul Craig Roberts Support Your Website   https://www.paulcraigroberts.org/pages/donate/  June 27, 2019: “The Diminishing American Economy” has been republished in Russian Translation in the journal of the Center for Strategic Analysis at Penza State University:  https://csa.pnzgu.ru/smi/aismi1  It has also been published in German and in Denmark.  American and British economists, largely shills for short-run greed, have ignored it. …

America Is Losing Its Economy Paul Craig Roberts From John Williams proprietary report: “Subject to Likely Downside Annual Benchmark Revisions this Coming Friday, February Industrial Production Jumped by 1.1% (0.9% Net of Revisions), Reflecting  improbable Strength in Manufacturing and Mining.  “Despite this perhaps premature report of industrial production gains, Given a Record 122 Months of Non-Expansion, Manufacturing Still Holds Shy…

Make-Believe America Paul Craig Roberts Americans live a never-never-land existance. The politicians and presstitutes make sure of that. Consider something as simple as the unemployment rate. The US is said to have full employment with a January 2018 unemployment rate of 4.1 percent, down from 9.8 percent in January 2010. https://data.bls.gov/timeseries/LNS14000000 However, the low rate of unemployment is contradicted by…

Fake News A US Media Speciality Paul Craig Roberts The American media specializes in fake news. Indeed, since the Clinton regime the American media has produced nothing but fake news. Do you remember the illegal US bombing and destruction of Yugoslavia? Do you remember “war criminal” Slobodan Milosevic, the Serbian president branded “the butcher of the Balkans,” who was compared…

Ever more official lies from the US government Paul Craig Roberts The false reality constructed for Americans parallels perfectly the false reality constructed by Big Brother in George Orwells’ dystopian novel 1984. Consider the constant morphing of “the Muslim threat” from al-Qaeda to the Taliban, to al-Nusra, to ISIS to ISIL, to Daesh with a jump to Russia. All of…

Vladimir Putin: The Most Powerful Person In The World Paul Craig Roberts Dear Friends, current problems with the website’s functionality, which are being addressed, are affecting the newsletter and email and, based on the light response to my quarterly call for donations, possibly donations as well. In order to keep the content section functioning, the webmaster has turned off some…

More Fake News From Washington this time it is about employment Paul Craig Roberts The US government continues to lie about everything, not just Russia, Syria, Iran, and China. The US government is incapable of telling the truth about something as straightforward as employment. According to the government, March produced only 98,000 new payroll jobs, an insufficient amount to reduce…

Can Truth Prevail? Paul Craig Roberts According to official US economic data, the US Gross Domestic Product (GDP) has expanded for 22 quarters, raising real GDP 12.1% above its high prior to the 2008-09 economic contraction. Yet, US manufacturing output and US industrial production have not recovered to their pre-contraction high. So what is driving the real GDP growth? In…

In the West Junk Information And Junk Judgment Prevail Paul Craig Roberts The Western world and that part of the world that partakes of Western explanations live in a fictional world. We see this everywhere we look—in the alleged machinations of Russia to elect Donald Trump president of the US, in claims that Saddam Hussein and his (nonexistent) weapons of…

Dismal Jobs Report This is your website; it needs your support. Contribute now. Paul Craig Roberts The presstitute media delivered the false news, not from Russian propaganda websites such as the Washington Post accuses this one of being, but from Obama’s US Bureau of Labor Statistics. The false news is that the collapsing economy continues to boom with 178,000 new…

Jobs Report Blues Paul Craig Roberts On Friday the Bureau of Labor Statistics reported that there were 215,000 new jobs in March. John Williams of ShadowStats.com reports that these “new jobs” result from the the Birth-Death model that “artificially inflates headline month-to-month payroll gains with add-factors that currently average well in excess of 200,000 jobs per month.” In other words,…

Expanded Version: The US Economy Has Not Recovered And Will Not Recover Paul Craig Roberts The US economy died when middle class jobs were offshored and when the financial system was deregulated. Jobs offshoring benefitted Wall Street, corporate executives, and shareholders, because lower labor and compliance costs resulted in higher profits. These profits flowed through to shareholders in the form…

Are The Payroll Jobs Reports Merely Propaganda Statements? Paul Craig Roberts US economics statistics are so screwed up that they do not provide an accurate picture. Consider the latest monthly payroll jobs report. According to the report, in January 151,000 new jobs were created. Where are these jobs? According to the report, 69% of the new jobs are accounted for…

Update to BLS December Payroll Jobs Report: It is even worse than I reported Paul Craig Roberts In my column on Friday I reported the unreported facts in the payroll jobs report. http://www.paulcraigroberts.org/2016/01/08/another-fabricated-jobs-report-paul-craig-roberts-2/ If we choose to believe the report, it is really very bad news. Good middle class jobs are continuing to decline. The new jobs are jobs that…

US On Road To Third World Paul Craig Roberts On January 6, 2004, Senator Charles Schumer and I challenged the erroneous idea that jobs offshoring was free trade in a New York Times op-ed. Our article so astounded economists that within a few days Schumer and I were summoned to a Brookings Institution conference in Washington, DC, to explain our…

Dear Friends, It is September and time for my quarterly request for your support. The website has a number of supporters who have set up automatic monthly donations. If the website had more of these, I could dispense with quarterly requests. If you contribute via PayPal or Stripe, please make a note of it. As credit card companies are saving…

The US Economy Continues Its Collapse Paul Craig Roberts Do you remember when real reporters existed? Those were the days before the Clinton regime concentrated the media into a few hands and turned the media into a Ministry of Propaganda, a tool of Big Brother. The false reality in which Americans live extends into economic life. Last Friday’s employment report…

The Dwindling US Economy Paul Craig Roberts The announcement today (April 29) of a barely positive GDP first quarter 2015 growth rate of 0.2 percent (two-tenths of one percent) is an intentional exaggeration. Today’s GDP report is the “advance estimate.” There will be two revisions, with the first occurring in one month on May 29. Although the “consensus estimate,” which…

Another Dubious Jobs Report Paul Craig Roberts According to the payroll jobs report today (March 6) the economy created 295,000 new jobs in February, dropping the rate of unemployment to 5.5%. However, the BLS also reported that the labor force participation rate fell and the number of people not in the labor force rose by 354,000. In other words, the…

Our House of Cards Paul Craig Roberts and Dave Kranzler As John Williams (shadowstats.com) has observed, the payroll jobs reports no longer make any logical or statistical sense. Ask yourself, do you believe that retailers responded to the very disappointing Christmas season by rushing out in January to hire 46,000 more retail clerks? Perhaps those 46,000 retail jobs is the…