Economics Lesson 1

Last Friday (January 27) the US Bureau of Economic Analysis announced its advance estimate that in the last quarter of 2011 the economy grew at an annual rate of 2.8% in real inflation-adjusted terms, an increase from the annual rate of growth in the third quarter. Good news, right? Wrong. If you want to know what is really happening, you…

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Mikhail Gorbachev, “Is the World Really Safer Without the Soviet Union?

http://www.thenation.com/article/165317/world-really-safer-without-soviet-union Dear friends: Led by political and economic reformer Mikhail Gorbachev, the Soviet Union agreed with presidents Ronald Reagan and George H.W. Bush to end the cold war and to reduce nuclear arms. A revolt by diehard communists weakened Gorbachev and resulted in Boris Yeltsin and the leaders of Ukraine and Belorussia abolishing the Soviet Union. The removal of the…

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BIG BROTHER INTERNET

Dear friends: I am pleased to bring to you Gerald Celente’s assessment of the threats posed to Internet freedom. Celente’s Trends Journal is one of the most insightful publications of our era. PCR Do you remember the Safe-Cyber instructions they taught you in the mandatory Computer Ed class (operated by the National Institute of Standards and Technology)? First you fire…

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How Ron Paul Could Win

In the Soviet Union common criminals were punished less harshly and received better treatment than political prisoners. A person who had committed a violent crime had more rights than someone who expressed criticism of the government and could be portrayed as having acted against the government. We now have the same situation in the US. In a recent case the…

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Drowning In Hypocrisy

The US government is so full of self-righteousness that it has become a caricature of hypocrisy. Leon Panetta, a former congressman who Obama appointed CIA director and now head of the Pentagon, just told the sailors on the USS Enterprise, an aircraft carrier, that the US is maintaining a fleet of 11 aircraft carriers in order to project sea power…

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More On Ron Paul

If Ron Paul’s libertarian handlers and support base could escape their ideology, Ron Paul could be much better positioned to win the Republican nomination. Here are some suggestions. Ron Paul should be making the point that Social Security and Medicare are threatened by multi-trillion dollar wars that are funded by debt, by bailouts of a deregulated banking system, and by…

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The “anti-Semitism” smear campaign against CAP and Media Matters rolls on–Guest Post

Original source: http://www.salon.com/2012/01/19/the_smear_campaign_against_cap_and_media_matters_rolls_on/singleton/ By Glenn Greenwald This is an important article.  Glenn Greenwald criticizes the Israel Lobby for smearing liberal writers, some of whom are Jews, as anti-semites in order to prevent any criticism of the Israeli government’s treatment of Palestinians.  Greenwald shows that the Israel Lobby also uses the smear tactic to prevent any questioning of the Israel Lobby’s…

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Beating the Drums of War: Provoking Iran into “Firing the First Shot”? – Guest Post

By Michel Chossudovsky Original Source: http://www.globalresearch.ca/index.php?context=va&aid=28652   Introduction While the possibility of a war with Iran is acknowledged in US news reports, its regional and global implications are barely analyzed. Very few people in America are aware or informed regarding the devastation and massive loss of life which would occur in the case of a US-Israeli sponsored attack on Iran.…

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10 Reasons the U.S. is no Longer the Land of the Free–Guest Post

Original Source: http://www.washingtonpost.com/opinions/is-the-united-states-still-the-land-of-the-free/2012/01/04/gIQAvcD1wP_story.html By Jonathan Turley, Published: January 13, 2012, Washington Post January 14, 2012 “WP” — Every year, the State Department issues reports on individual rights in other countries, monitoring the passage of restrictive laws and regulations around the world. Iran, for example, has been criticized for denying fair public trials and limiting privacy, while Russia has been taken to…

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Guantanamo by the Numbers [Infographic] – ACLU Guest Post

  Original Source: http://www.aclu.org/national-security/guantanamo-numbers

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Washington Moves The World Closer To War

Since my January 11 column http://www.paulcraigroberts.org/2012/01/11/the-next-war-on-washingtons-agenda/ and the news alert posted on January 14 http://www.paulcraigroberts.org/2012/01/14/news-alert/, more confirmation that Washington is moving the world toward a dangerous war has appeared. The Obama regime is using its Ministry of Propaganda, a.k.a., the American media, to spread the story that President Obama, Pentagon chief Panetta, and other high US officials are delivering strong…

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News Alert!

According to a January 13, 2012 Reuters news report, Dmitry Rogozin, the Russian ambassador to NATO who has been appointed deputy prime minister in charge of Russia’s defense sector, told news reporters at a Brussels press conference that Russia would regard any military attack on Iran as a “direct threat to our security.” Will the crazed neocon warmongers and the…

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America’s Last Chance

America has one last chance, and it is a very slim one. Americans can elect Ron Paul President, or they can descend into tyranny. Why is Ron Paul America’s last chance? Because he is the only candidate who is not owned lock, stock, and barrel by the military-security complex, Wall Street, and the Israel Lobby. All of the others, including…

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Three Books to Stimulate Thought

January 11 was the tenth anniversary of amerika’s Guantanamo torture prison. National Public Radio commemorated the anniversary by airing critics and defenders of Washington’s violation of US statutory law, the Geneva Conventions, and the US Constitution. Listening to the former government officials justify their crimes, I realized that I was listening to those who had set the table and served…

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The Next War on Washington’s Agenda

Only the blind do not see that the US government is preparing to attack Iran. According to Professor Michel Chossudovsky, “Active war preparations directed against Iran (with the involvement of Israel and NATO) were initiated in May 2003.” http://www.globalresearch.ca/index.php?context=va&aid=28542 Washington has deployed missiles directed at Iran in its oil emirate puppet states, Oman and the UAE, and little doubt in…

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December Payroll Jobs Report

The following report is based on the work of statistician John Williams of shadowstats.com. Today’s (Friday, January 6) payroll jobs report of 200,000 new jobs in December is overstated by at least 82,000 jobs. As approximately 130,000 new jobs are needed each month to stay even with population growth, the December job figures actually indicate that the US economy fell…

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The Dismal Economic Outlook For The New Year

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. They are in the income distribution data, the BLS jobs data, the Census data, the poverty figures, and the high number of food stamp recipients. The…

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The Outlook for the New Year

In March 2010 when I resigned from my column with Creator’s Syndicate and put down my pen, I received so many protests from readers that two months later I began writing again. This renewed activity has resulted in this new year in a website of my own. My columns will first appear on my site. Sites on which readers are…

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The Greatest Gift For All

Christmas is a time of traditions. If you have found time in the rush before Christmas to decorate a tree, you are sharing in a relatively new tradition. Although the Christmas tree has ancient roots, at the beginning of the 20th century only 1 in 5 American families put up a tree. It was 1920 before the Christmas tree became…

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The Obama Regime Has No Constitutional Scruples

During an interview with RT on December 1, I said that the US Constitution had been shredded by the failure of the US Senate to protect American citizens from the detainee amendment sponsored by Republican John McCain and Democrat Carl Levin to the Defense Authorization Bill. The amendment permits indefinite detention of US citizens by the US military. I also…

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Bankers have seized Europe – Goldman Sachs Has Taken Over

On November 25, two days after a failed German government bond auction in which Germany was unable to sell 35% of its offerings of 10-year bonds, the German finance minister, Wolfgang Schaeuble said that Germany might retreat from its demands that the private banks that hold the troubled sovereign debt from Greece, Italy, and Spain must accept part of the…

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The Roads To War And Economic Collapse

November 23, 2011: The day before the Thanksgiving holiday brought three extraordinary news items. One was the report on the Republican presidential campaign debate. One was the Russian President’s statement about his country’s response to Washington’s missile bases surrounding his country. And one was the failure of a German government bond auction. As the presstitute media will not inform us…

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Americans: Awash In Spin

I have come to the conclusion that Big Brother’s subjects in George Orwell’s 1984 are better informed than Americans. Americans have no idea why they have been at war in the Middle East, Asia and Africa for a decade. They don’t realize that their liberties have been supplanted by a Gestapo Police State. Few understand that hard economic times are…

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Totally Corrupt America

Last March I reviewed Matt Taibbi’s important book Griftopia, an entertaining account of the through-going financial fraud that gave us the financial crisis. http://www.vdare.com/print/13156 Taibbi shows that the US “superpower” can match any third world backwater in the magnitude of greed and fraud that is endemic in business and government. I would not be surprised if Taibbi’s book motivated the…

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The Suicide of Liberty

Pat Buchanan’s latest book, Suicide of a Superpower, raises the question whether America will survive to 2025. The question might strike some readers as unduly pessimistic and others as optimistic. It is unclear whether the US, as we have known it, will survive its next presidential election. Consider the candidates. Liberal law professor Jonathan Turley, who was likely to have…

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Doubts about the Law

Doubts About The Law was published in CHRONICLES, September 2009. “Rawhide” Andrews was a Texas Ranger. He came to the force after it was reconstituted in 1874, the Rangers having been discredited in the years following the War of Yankee Aggression as an enforcement unit for carpetbaggers. Comanches were in decline from smallpox and cholera and from the near extinction…

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The Day America Died

September 3, 2011 was the day America was assassinated. Some of us have watched this day approach and have warned of its coming, only to be greeted with boos and hisses from “patriots” who have come to regard the US Constitution as a device that coddles criminals and terrorists and gets in the way of the President who needs to…

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The Last Whistleblower

Bob and Darin were on a panel together discussing banalities in generalities, as is the usual case. If either had said anything meaningful on the subject, the moderator would have cut him off. Bob didn’t know Darin. He was introduced as a former CIA official. Bob had heard back in those days when he was on the Congressional Budget Committee…

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How The West Was Restored

How The West Was Restored was published in CHRONICLES, November 2009. He had finally done it. He had mastered the physics of time. He was ready to visit the past. He had made his first fortune in U.S. Treasury bond futures in the early 1980’s. Wall Street had thought that the Reagan tax cuts would drive up interest rates because…

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Letter to the Editor

This article appeared in the Fall 2009 issue of The Independent Review Paul R. Gregory’s account of Lenin’s suppression of dissident voices (“The Ship of Philosophers,” The Independent Review 13, no. 4 [spring 2009]: 485–92) offers no explanation except that dictators fear dissent. Lenin, however, had an additional reason to brook no dissent. In 1917, he had startled the Marxist world when he…

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Correcting A Legal Transaction

Correcting A Legal Transaction was published in CHRONICLES, October 2009 The trial was fixed. The judge knew it. The rancher had the town buffaloed. The jury would deliver the verdict the rancher wanted. The judge was concerned that the rancher’s rowdies would use the verdict for a lynching. The rancher didn’t want any more nesters around. The nester’s wife was…

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Growing Up In America Series – Privilege Displaces Equality

Privilege Displaces Equality was published in CHRONICLES, October 2009 None of us growing up in Atlanta in the 1940s were under the delusion that we were equal. We were aware of a myriad of differences that had nothing to do with race or gender. Some were better football players. Others were better baseball players. Some could run faster. Others were…

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Growing Up In America Series – Measuring Decline By Prices

In 1939, the year I was born, gasoline was ten cents per gallon. A new car cost $700. A new house cost $3,850, and the average rent was $28 per month. Harvard tuition was $420 annually. A loaf of bread from the bakery was eight cents. Hamburger was 14¢ per pound, eggs were 19¢ per dozen, coffee was 40¢ per…

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How things change out from under us

Anyone who has been around for awhile and who pays any attention to news sees many disturbing changes. Recently I read a news report that two children, ages seven and eight, had an altercation at school during recess. They were carted off handcuffed by police. The teachers or principal had dealt with the boys’ disagreement by bringing in the police.…

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Marching Off Into Tyranny

In last weekend’s edition of CounterPunch, Alexander Cockburn updates the ongoing persecution of Sami Al-Arian by federal prosecutors. Al-Arian was a Florida university professor of computer science who was ensnared by the Bush regime’s need to produce “terrorists” in order to keep Americans fearful and, thereby, amenable to the Bush regime’s assault on U.S. civil liberties. The charges against Al-Arian…

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Elect Obama or Fall Into Tyranny

As articles by John Pilger, Alexander Cockburn and Uri Avnery make clear, by groveling before the Israel lobby, Obama has dispelled any hope that his presidency would make a difference. Obama told the lobby that in order to protect Israel he would use all the powers of the presidency to prevent Iran from having a nuclear weapon. As in the…

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What Do We Stand For?

Americans traditionally thought of their country as a “city upon a hill,” a “light unto the world.” Today only the deluded think that. Polls show that the rest of the world regards the United States and Israel as the two greatest threats to peace. This is not surprising. In the words of Arthur Silber: “The Bush administration has announced to the…

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It Does Happen in America

Don Siegelman, a popular Democratic governor of Alabama, a Republican state, was framed in a crooked trial, convicted on June 29, 2006, and sent to federal prison by the corrupt and immoral Bush administration. The frame-up of Siegelman and businessman Richard Scrushy is so crystal clear and blatant that 52 former state attorneys general from across America, both Republicans and…

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What Became of Western Morality?

On the last day of the old year in the newsletter CounterPunch, two Israelis—Jeff Halper, who heads the Israeli peace movement ICAHD, and Neve Gordon, who is chairman of the department of politics and government at Ben-Gurion University—asked, “Where’s the Academic Outrage Over the Bombing of a University in Gaza?” “Not one of the nearly 450 presidents of American colleges and…

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Offshore Face-Off: Paul Craig Roberts vs. Jagdish Bhagwati

Moving jobs overseas can cut a company’s costs. But is it bad for the U.S. economy? Two economists debate the issue. By TIMOTHY AEPPEL  Staff Reporter of THE WALL STREET JOURNAL May 10, 2004; Page R6 Does offshore outsourcing hurt the U.S. economy by draining away jobs and investment, or does it ultimately make the U.S. stronger? Is it a cost-cutting tactic that should…

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Memoir & Critique – My Time with Karl Marx

This article appeared in the Spring 2004 issue of The Independent Review My path to Karl Marx was through my work on the Soviet economy. Sovietologists had difficulty comprehending the organizational nature of the Soviet economy because they were uninformed about its Marxian aspirations. Sovietologists regarded Marx as irrelevant to an understanding of the Soviet economy. Alexander Gerschenkron, one of…

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Guest Commentary: The Harsh Truth About Outsourcing

The Harsh Truth About Outsourcing was published in BUSINESSWEEK, March 2004 It’s not a mutually beneficial trade practice — it’s outright labor arbitrage  Economists are blind to the loss of American industries and occupations because they believe these results reflect the beneficial workings of free trade. Whatever is being lost, they think, is being replaced by something as good or…

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Memoir & Defense – My Time with Supply-Side Economics

This article appeared in the Winter 2003 issue of The Independent Review Supply-side economics is a major innovation in economics. It says that fiscal policy works by changing relative prices and shifting the aggregate supply curve,not by raising or lowering disposable income and shifting the aggregate demand curve. Supply-side economics reconciled micro- and macroeconomics by making relative-price analysis the basis…

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The Causes of Wrongful Conviction

This article by Paul Craig Roberts appeared in the Spring 2003 issue of The Independent Review. The execution of an innocent person cannot be remedied. This fact, together with mounting evidence of innocents on death row, has strengthened opposition to the death penalty. Nevertheless, the death penalty has proved to be a divisive issue. The divide between liberals and conservatives…

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My Time with Soviet Economics

This article by Paul Craig Roberts appeared in the Fall 2002 issue of The Independent Review. The academic study of the Soviet economy was unsuccessful. Several widely held misconceptions contributed to the lack of success. Western economists assumed that economic growth was assured, because the central planning authority controlled the rate of investment. They assumed that the Soviet economy was…

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Blank – Do Not Delete This

This post is used to trick the wordpress cms into thinking certain categories are populated so they appear in our category selection options for WP Traffic Tools

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What Really Happened In 1981

This article appeared in the Fall 2000 issue of The Independent Review Forward by Alan Reynolds Timothy Muris’s otherwise excellent piece “Ronald Reagan and the Rise of Large Deficits” (Independent Review 4 [winter 2000]: 365-76), necessarily misses some fascinating details known only to those of us who were actually there. The transition team began operating out of David Stockman’s congressional…

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Michael Polanyi’s Economics

This article by Paul Craig Roberts and Norman Van Cott appeared in the Spring 1999 issue of The Independent Review and was presented to an annual conference of the Western Economics Association during the 1970s. People familiar with Michael Polanyi are impressed by his intellectual powers, the range of his mind, and his ability to get to the heart of…

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