The Big Collapse Awaits
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The Big Collapse Awaits
Paul Craig Roberts
In the 1970s when I served in the congressional staff and in the 1980s when I served in the executive branch, there was still some intelligence in the US government, with the exception of the Federal Reserve, where there has never been any intelligence.
Today there is no sign of intelligence anywhere in the US government. That fact is documented every day on my website.
As I recently reported, about 900,000 new jobs that had been claimed over the preceding year have just disappeared in a revision. A further downward revision could follow.
These non-existent jobs were the Federal Reserve’s evidence for a hot inflation-prone economy justifying high interest rates. All the time the Fed was preaching inflation, the Fed was contracting the money supply, a contraction that has been underway for 2.5 years. This in itself is proof that the “inflation” was really higher prices caused by the shortages the senseless Covid lockdowns caused. In other words, the higher prices were due to mandated shortages, not to inflation. A central bank too stupid to recognize this is too stupid to justify its existence.
Whenever the Fed contracts the money supply recession follows. If the contraction is too large and lasts too long, as it was following the 1929 stock market crash, the result is a decade of depression and high unemployment.
A contraction in the money supply means that the same level of economic activity and employment cannot be maintained at the same level of prices. Either economic activity and employment fall or prices fall. Historically, it has been economic activity and employment that fall first, and prices follow. Generally, that means profits fall.
Now that it has dawned on the dummies at the Fed that they have set a recession in place, the talk is interest rate reductions. Wall Street is salivating over a possible half of one percent beginning. For Wall Street, a reduction in interest rates means an increase in money, and it is liquidity increases that drive stock prices higher. What usually happens is that stock prices rise in expectation of the Fed loosening, but by the time the Fed loosens the economy is in a recession. So stock prices rise while profits fall, with the market banking on recovery to bring profits up to the level implied by the stock prices that have jumped the gun.
Things, however, can go wrong. Expectations of lower interest rates is a signal to start up home building. But if a recession is in place, who is going to be purchasing homes? If the builders’ loans are due before the houses sell, the builder goes bust.
In today’s immigrant-invader overrun America, there is a new consideration. According to even presstitute media reports, in blue cities immigrant invader gangs are seizing homes and apartment buildings, and soon, if not already, newly constructed homes. If you are sufficiently stupid to live in a blue city, you can go to the grocery store and return to find your home occupied by immigrant-invaders. The police will not remove them.
If you are stupid enough to live in a blue city, what this means is that you cannot risk going shopping, or to a medical appointment, or to pick up your kids from the school that indoctrinates them unless you hire a security service to occupy your home in your absence. You cannot possibly risk your home by going on a vacation. Builders will have to provide armed security for nearly finished homes, apartments, or any type of structure.
No, I am not delusional. This is what is already happening.
Keep in mind also my reports on The Great Dispossession. Federal regulators have taken away your ownership of your investments and bank account and given them, in the event that your depository institution enters financial difficulties, to the creditors of your depository institution. This is what is meant by a “bail-in.” If you thought you didn’t need to read my articles, you made a mistake. Use the search feature and find them.
To be clear, we already own nothing if there is another financial difficulty. Given the Federal Reserve’s record, such a difficulty is certain.
Will it be this time, or the next time, or the one after?
The Abortion Issue
The Abortion Issue
Paul Craig Roberts, September 13, 2024
Perhaps nothing demonstrates the presstitutes’ idiocy, ignorance, and incompetence than the media’s presentation of the abortion issue as a presidential issue with Kamala standing with women and Trump standing against women.
The abortion issue has nothing whatsoever to do with the executive branch. The abortion issue was created by a liberal US Supreme Court that declared a right that does not exist in the US Constitution. A liberal Court ruled in favor of sexually promiscuous women who do not want the responsibility for their own sexual behavior, and gave them the right to terminate birth.
A subsequent US Supreme Court repealed the previous Court’s decision for the reason that the creation of a right to abortion was a legislative act, not a judicial one. In overturning the previous Court’s finding of an abortion right, the subsequent Court said abortion was a legislative issue for state legislatures, a position with which Trump agrees, and that the judiciary has no Constitutional authority to legislate as the US Supreme Court had done in its abortion ruling.
What Trump is supporting is the separation of powers.
If sexually promiscuous liberal and left-wing women who decry responsibility for their sexual behavior want the right to terminate the birth of a person, they will have to convince the legislators in the state governments. It is not a federal issue and in no way a presidential issue. Yet, the despicable whore American media featured it as a presidential issue in the “debate.”
So why was it part of the media orchestrated “debate” between Trump and Kamala? The only answer is: to give the women’s vote to Kamala.
The question that needs explaining is: Why is it that the presstitute media is given control over presidential “debates?” Especially “debates” held in controlled and sealed rooms devoid of an audience.
A debate should be a public affair attended by the public and one that all media can cover if so inclined. How do we explain debates controlled by biased media assigned the task of protecting official explanations and never challenging them? The answer is to keep Americans from understanding what has happened over the course of the life of their country to their country and to their Constitutional rights.
The separation of powers that the Constitution prescribes endeavors to keep people, not government, in charge. What has happened over time, is the destruction of the peoples’ rights. It began with Lincoln destroying the 10th Amendment and states’ rights. Next came the expansion of the franchise to include non-property owners given the right to vote to themselves the property of others. Then Roosevelt’s New Deal turned Congress’ legislative authority over to executive branch regulatory agencies. Then with George W. Bush and Obama declaring their right based on suspicion alone of setting aside the Constitution’s prohibition against throwing people into dungeons without presentation of evidence to a court and conviction in a trial and the Constitution’s prohibition against execution of life without due process of law, the executive branch emerged more powerful than the US Constitution. Everyone accepted these extraordinary violations of the US Constitution, including Congress, bar associations, the university law schools, and media.
The American people themselves are so poorly educated, thanks to public schools that the insouciant fools support and money-driven universities that they have no realization of the Constitution’s burial along with American liberty, which, of course, means them.
They sit there thinking they are a free people while a gulag is being prepared for them.
As is evident, abortion is not the only issue about which Americans are hoodwinked. For most Americans, their existence is organized for them by controlled narratives. Following the media’s instruction, they regard those who tell them the truth as “conspiracy theorists.” The suppression of truth has always been easy in America, but in the 21st century it has become total. Today truth itself is being criminalized and so are those who express truth. Today persons, such as Dimitri Simes, who give their honest opinions about events that are transpiring, as well as social media, such as Telegraph and X , are under attack for spreading harmful “false information.” Even the owners of social media companies where people express their opinions are being held accountable for the opinions expressed by the people and for the use of social media to “abet their crimes.”
Pavel Durov, Telegram founder, has been detained in France on spurious charges that he is responsible for crimes committed by users of Telegram. Elon Musk is threatened both by the EU and the UK police commissioner with arrest if he fails to censor his interview on X with Donald Trump.
If you look at this honestly, the Western world today compares unfavorably with Nazi Germany and Stalinist Russia. Today there is far more freedom of expression in Russia, China, and Iran than in the West.
Think about what this means. It is impossible to raise and discuss a serious issue such as Washington’s provocations of Russia, China, and Iran. How many Americans or any persons in the Western world are there who are not so stupid as to think that Ukraine’s totally artificial borders are worth a nuclear war? Is there anyone in the Western world who is not so utterly stupid and compromised as to think that Israel’s destruction of Palestine in the interest of Greater Israel is anything less than the worst war crime in human history? How do we explain Netanyahu, the genocider of Palestine, receiving 53 standing ovations from the US Congress? And it was Christian Evangelicals leading the applause.
So, you see, it is not merely the abortion issue about which Americans are incapable of thought. They are incapable of though about any the the issues that are destroying them.
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