Tuesday, 20 July 2010

MUST SEE: On the Edge with Max Keiser and Paul Craig Roberts

Dr. Paul Craig Roberts about Andy Grove’s opinion piece on Bloomberg, “How to Make an American Job Before It’s Too Late.” [The US economy has been outsourced. Jobs have gone overseas and there's not enough employment left to maintain the US consumer- other than via unsustainable debt. Very good analysis here. Watch it and learn how the economic debate has been sabotaged with "freemarket" shilling for big business.]

[Posted at the SpookyWeather blog, July 20th, 2010.]


steven andresen said...


I want to say this was a great discussion.

Roberts made his points clearly. Kaizer pointed out some of the most important implications and had some good leading questions.

I have to admit that I have very little contact with media stars and what they say about how great things are and their platforms at ABC,CBS, NBC, the Times, etc. Do they actually contradict what Roberts and Kaizer say here?

I take it at one point the majority were telling us we were all going to benefit from high paying knowledge industry jobs. But now, doesn't that story seem too unrealistic to push anymore?

Is there anyone who still pushes the jobless recovery story?

I also thought that Roberts made a sad but powerful point that, as of now, as most of these manufacturing jobs are now overseas, and the busiiness interests are so powerful, there is really very little if anything that could be done to bring these jobs back.

It's sort of the claim that we have strung out our noose rope and now we have to hang ourselves with it.

The challenge would be to come up with some better answers than the ones that Roberts considered and shown were unlikely to work.

SpookyPunkos said...


I think at the end of the day the Laws favouring outsourcing must be repealed. The Government policy must be challenged to have any chance of changing corporate behaviour.

More people are waking up to the reality of the problems cited here thanks to the internet. Some limited gains have been made in the mainstream press when guests like Marc Faber, Ron Paul and Max Keiser make appearances.

As far as I can tell the mainstream US news avoids this sort of information and pushes the idea that the US economy still has fundamental strength.

As usual, education about the real state of the economy is vital to enacting any real change.