Paul Craig Roberts on US crumbling economic power

Charles Munger, Warren Buffet’s business partner, said that the U.S. economy will never bounce back because of the national debt and poor planning. Paul Craig Roberts has been saying “it’s over” for a while, he agrees that the United States is a failed state/economy/empire, etc.

Original Youtube video here.

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goldstep999
Guest

Excellent interview, Thanks, RT!

ranrun
Guest

wall street greed is caused by washington dc. if interest rates are too low it makes it "cheap" to speculate. washington encourages risk taking. its washington that needs to get some balls and raise interest rates.

this guy doesn't talk about how washington dc has made it so expensive to employ people in this country. we could be competitive if washington would get out of the way. that would be a really stimulus.

monoxygen2012
Guest

maybe you should tell barry sortoro aka (barack Obama) we can change this whole way of doing things free energy (no oil) no utilitiy bill ciyt,towns,planting their own gardens.stop wasting money on crap from fda bigpharma give us real drs like homopathy herbalogists naturalpaths these areyour drs.cars that run on salt water come on lets make the shift these huge com.must go byebye or we will never get things better

tjfgermany58123
Guest

Remember the American Revolution? We revolted against sending England our raw products to England where they produced finished products to sell back to US at higher prices. We wanted to industrialize and produce them ourselves. Why did we give that advantage away?

sirellyn
Guest

A lot of what he says is accurate. But blaming outsourcing is not. Many jobs in the US are overpaid for, and this is bolstered by unions. For a society to actually be capitalists, you can get raises but you can also have your wage go down.

To think that some others can work harder, be more efficient, take business from you and your wages still go up is ludicrous.

Normally there's little raises and falls. Now with all the propping up it's going to be a large fall from a shaky tower.

tjfgermany58123
Guest

Green Jobs are coming . I mean "Greengo Jobs". American slave labor will be selling Hot dogs and Apple pie in China. Yes, Americans very dumb, but they make good hot dog. Hahaha

sirellyn
Guest

So if China does super well and the average salary in China becomes twice that of the US, they get lazier, you rebuild steel plants and work harder for less. Your product is twice as good as theirs at half the price it wouldn't be fair for people in China to buy from the US?

So that's fair, but having it the other way around isn't fair?

To have success you have to have the risk of failure. When people consistently do well they start to relax and others' diligence can take over.

sirellyn
Guest

Maybe you didn't get lazy, but others are still able to work harder and cheaper than you are able to or willing to. This is how America became rich in the first place.

And your questions that I didn't answer were, are you on crack, drugs, drinking kool-aid or a government shill. No to all of the above. I hate Bush and the wars too if that helps.

Really, do you have to insult people you are talking to?

Tigerpaws9097826
Guest

huskerbird1 – I totally agree. I lived through the Cold War, and consider it a personal irony that now I consider Russia Today one of my more important sources of news.

ThePresidentialTouch
Guest

Here's an absolutely insane idea.

But it would be the measure of how dedicated the American people are to taking back control of their nations economy.

If everyone really wants to control inflation….

REALLY want to take control of inflation….

Burn your tax refund cash.

KnowledgeDriven
Guest

@TPT

don't agree with burning it… but, another insane idea: if you instead use it to burn off yours or others' structural debt (aka other family members, close friends, etc.), then you eliminate the $ money from the tax refund you have AND debt $ of others.

& thx to fractional reserve banking, by burning off debt and not re-spending or using more credit, there's a multiplier effect as well.

now THERE's burning BANG for ur buck! 🙂

Atomic Gumbo Surprise
Guest

What you been smoking?

freesk8
Guest

Off-shoring of jobs is a symptom, not the cause.

Free trade actually creates MORE jobs on both sides of borders, even if it does increase dislocation in the short run. Look up Ricardo's Theory of Comparative Advantage.

The real cause of job losses is excessive taxation and govt regulation.

Tim Jarvis
Guest

"Ole" Paul should know what he's talking about, he was one of the original Reaganites, handing out the poisoned koolaid. He too worshiped at the altar of (regulation free) "free" market economics. He winked as Reagan destroyed unions, along with solid middle class jobs for workers in the U.S..

freesk8
Guest

I'm a big Ron Paul fan as well.

But you are wrong that our system "depends" on exponential growth and cheap oil.

Exponential growth is a RESULT of economic freedom, not a fundamental requirement. And that growth started before we even used oil. Peak oil is coming, but oil will be replaced by some new technology.

Our currency is toast because it is fiat-based, but to the extent that there is some Austrian in our economics, humanity will get better-off over time.

ThePresidentialTouch
Guest

Told you it was insane.

It would be more symbolic than anything else, for sure, but this is exactly what people worldwide aren't seeing….the American people themselves gettting personally involved in affecting the economy in a way NOT directed by our gov't.

Is it illegal to do? Sure it is, but so is protesting apparently, so if your gonna be arrested anyway….

ThePresidentialTouch
Guest

Only if you join the club. See the catch there?

ThePresidentialTouch
Guest

Money.

ThePresidentialTouch
Guest

Porno, for having a 30-year woodie?

Chaumont Flynn
Guest

RT is like the "new and improved" version of Radio Moscow, the old Soviet propaganda mouth piece.

For a program entitled RT, or "Russia Today," it devotes most of its coverage on stories about the United States, all of them being negative–a coincidence I'm sure.

When is RT going to start covering Russia, particularly its march toward fascism under the autocratic hand of Vladimir Putin?

ThePresidentialTouch
Guest

Why?

To Bear
Guest

In 2000, Paul Craig Roberts predicted exactly what is happening today.

He wrote an article with Schumer, of all people, about how outsourcing will destroy the value of American labor.

Americans cannot compete with slave labor, undervalued currencies, under regulated and over subsidized economies. Our inventions and productivity are being sent abroad. This only benefits the rich.

packrat76
Guest

No worries, Obama will fix the economy!

packrat76
Guest

So much for Obama and being a man of peace, eh? I laughed my ass off when I saw an Obama bumper sticker with the O being the peace symbol. It was on some numbnut college student's car in Boulder. He's probably torn it off by now if he's smart at all.

userofnames
Guest

developed countries get to a stage where the populous feel its their right to rape the private sector of their wealth via s/security health, benefits etc, the private sector then pulls up their pants shows them where the can shove it and rapes them back via going abroad with their jobs and wealth, thats the story here folks..

therealcaptobvious
Guest

wow, is pcr ill? he doesn't look good.
i don't agree with all of his stances, but he's excellent on econ.

leppy111
Guest

There is no reason in this world for any one person to have more than 100 million in assets at the most, anybody could still live like a king with that. I mean is anybody that important that they need a private island,14 houses, private jets, fleets of cars.

annica570
Guest

uhhh, clinton signed nafta into law. end of argument.

bittubikaneri
Guest

the best and the most relevant comment here.

frickadele
Guest

@cybersphere

Thank God?

What a schmuck.

eatfastnoodle
Guest

Reagan's people……, right. It's not like their voodoo economy worked so well. Fact of matter is nobody can predict what's gonna happen in the future and this guy's tirad just sounds so much like politically opportunistic junks so often seen nowadays from both left and right that serve nothing more than pandering to the fringe elements of both side of the political spectrum's delusional fantasies. Again, things ain't that simple and history never follows a linear path.

tacotony24
Guest

The protestant ethic is a joke

josefwurst
Guest

@MexicanTuber haha good luck, mexico is already a failed state. and what do you think will happen when the us collapses? every other country is going to collaps as well.
so think first or get fucked in the butt

josefwurst
Guest

@MexicanTuber hahaha, you're a lucky man. peace

unincorporated1
Guest

Obama, fuckin fire Geithner and hire Paul Craig Roberts!!!

David Stanley
Guest

A True American Roberts knows what's going on

HotBombs99
Guest

Friends, you think that these companies move the jobs offshore by chance? Think again, the elite class wants america to implode, so they can bring in there new world order,and rule the world. It's all prophesied in the bible, the only hope you have is to repent and turn to Jesus and his Father, and if you don't believe me then you'll find out soon enough, there is no fighting it by electing lairs and fools. You'll see soon.

HotBombs99
Guest

Friends, you think that these companies move the jobs offshore by chance? Think again, the elite class and there brothers the luciferians, wants america to implode, so they can bring in there new world order,and rule the world, so they think. It's all prophesied in the bible, the only hope you have is to repent and turn to Jesus and his Father, and if you don't believe me then you'll find out soon enough, there is no fighting it by electing lairs and fools. You'll see soon. I pray for us all.

MrFaisel34
Guest

UPENN Students: the Middle class jobs have been moved offshore-even the engineering jobs. However, there are service jobs galore: cab driver, waiter/waitress, barber, masseuse, Starbucks barista, MacDonalds and Walmart looking for Ivy League graduates. Take your pick.

pretorious700
Guest

No shortage of people selling books about this totally fucked up situation.

Tippersnore
Guest

Still tryin' to atone for Reagan malfeasance lad?

edoyle7
Guest

@pyannaguy You are an idiot. go back to your OWS bs

edoyle7
Guest

@MrFaisel34 Thank Obummer

MrFaisel34
Guest

@edoyle7 You should thank the Bushwacker.

pyannaguy
Guest

@edoyle7 Right, I'M the idiot. More foreclosures in the pipeline, gas prices through the roof and they distract everybody with some trumped-up 'threat' from Iran. Keep telling yourself I'M the idiot and keep trusting the banksters and "The FREE Market" to get everything peachy.

Walter Kiel
Guest

What's Paul Craig Roberts doing in Florida ? I thought that Old Fart was hiding out in Indonesia…
Paul Craig Roberts is just like all the other Plundering Bastards… he's found religion… After Getting Rich…

Dan Smith
Guest

The crumbling US economy 8 years ago – under Obama's negritude, globalist, extreme mismanagement ! Haha. How things change