Quarterly Request for Donations As many of you know, a couple of years ago when I tried to retire you wouldn’t hear of it. I resigned my syndicated column and said goodbye. In thousands of emails you described to me your reliance on my experience and education to help you to understand in a non-partisan way the events of our…

Paul Craig Roberts, Dave Kranzler, and John Williams The third and final estimate (until the annual GDP revisions) of first quarter 2014 real GDP growth released June 25 by the US Bureau of Economic Analysis was a 2.9% contraction in GDP growth, a 5.5 percentage point difference from the January forecast of 2.6% growth. Apparently, the first quarter contraction was…

Is the US or the World Coming to an End? It will be one or the other Paul Craig Roberts 2014 is shaping up as a year of reckoning for the United States. Two pressures are building on the US dollar. One pressure comes from the Federal Reserve’s declining ability to rig the price of gold as Western gold supplies…

Dear Readers, Several of you have told me that you are tired of reading about the deplorable state of affairs in Ukraine produced the by idiots that comprise “our” government. In this current posting you can read instead about the deplorable state of jobs in “your” economy or, rather, the absence of jobs. “Your” same government that lies to you…

How Economists and Policymakers Murdered Our Economy Paul Craig Roberts The economy has been debilitated by the offshoring of middle class jobs for the benefit of corporate profits and by the Federal Reserve’s policy of Quantitative Easing in order to support a few oversized banks that the government protects from market discipline. Not only does QE distort bond and stock…

Dear Readers, Readership has doubled, but donations in response to the current quarterly request are less than when the site had far fewer readers. Perhaps I have had my 15 minutes of fame and it is time to retire. Writing these columns does not benefit me. I already know the information that I provide to you, and the establishment has…

Dear readers: This is not the quarterly request for donations. It is a reminder that this is your site, and it will stay up as long as you support it. As Ye Sow, So Shall Ye Reap Paul Craig Roberts The year 2014 could be shaping up as the year that the chickens come home to roost. Americans, even well-informed…

Dear Readers, I am flattered by the traffic on this site, and by the generosity of donors from across the United States–large cities and small villages–and the world. We have donations from Indonesia, Russia, Taiwan, Hong Kong, Mexico, most countries in Europe and from Canada, Australia, and New Zealand. It is exciting to me that people from around the world…

Statistician John Williams (shadowstats.com) calls the government’s latest jobs and unemployment reports “nonsense numbers.” There are a number of ongoing problems with the released numbers. For example, the concurrent-seasonal factor adjustments are unstable. The birth-death model adds non-existent jobs each month that are then taken out in the annual downward benchmark revisions. Williams calculates that the job overstatement through November…

Is the “fiscal cliff” real or just another hoax? The answer is that the fiscal cliff is real, but it is a result, not a cause. The hoax is the way the fiscal cliff is being used. The fiscal cliff is the result of the inability to close the federal budget deficit. The budget deficit cannot be closed because large…

Unless I am being spoofed, several hundred readers wrote me in as their selection for President. I am honored. Some asked if I were elected by write-ins and not instantly assassinated, who would I appoint? An easy question to answer. Nomi Prins would be Secretary of the Treasury, and Pam Martens would be Deputy Secretary of the Treasury. Lew Rockwell…

During the second half of the 20th century the United States was an opportunity society. The ladders of upward mobility were plentiful, and the middle class expanded. Incomes rose, and ordinary people were able to achieve old-age security. In the 21st century the opportunity society has disappeared. Middle class jobs are scarce. Indeed, jobs of any kind are scarce. To…