Former Treasury Secretary Timothy Geithner, a protégé of Treasury Secretaries Rubin and Summers, has received his reward for continuing the Rubin-Summers-Paulson policy of supporting the “banks too big to fail” at the expense of the economy and American people. For his service to the handful of gigantic banks, whose existence attests to the fact that the Anti-Trust Act is a dead-letter law, Geithner has been appointed president and managing director of the private equity firm, Warburg Pincus, and is on his way to his fortune. Continue reading →
Federal reserve & Wall Street assassinate US dollar
Since 2006, the US dollar has experienced a one-quarter to one-third drop in value to the Chinese yuan, depending on the choice of base. Continue reading →
Readers ask me if Paul Krugman could be correct that deficits don’t matter and that neither does printing endless reams of money with which to purchase the Treasury’s debt instruments that finance the deficits. Continue reading →
As ye sow, so shall ye reap
The year 2014 could be shaping up as the year that the chickens come home to roost. Continue reading →
The inability of the media and politicians to focus on the real issues never ceases to amaze. Continue reading →
One of my most popular columns was about escaping from the Matrix existence in which Americans live. It is a world of disinformation and misinformation in which facts are fiction, and abstract theories are substituted for empirical reality. Continue reading →
Time is running out for the US economy and the American people. The financial press and economic commentators, with few exceptions, do a good job of keeping this fact from the public. Continue reading →
Washington has discredited America
Posted on January 6, 2014 by Paul Craig Roberts
Years ago when I described the George W. Bush regime as a police state, right-wing eyebrows were raised. When I described the Obama regime as an even worse police state, liberals rolled their eyes. Alas! Now I am no longer controversial. Everybody says it. Continue reading →