Tuesday, 24 May 2011

Global Financial Crisis-On the Edge with Max Keiser

In this edition of On the Edge, Max Keiser interviews Dr, Paul Craig Roberts from Georgia who is an American economist, columnist for Creators Syndicate, former Assistant Secretary of the Treasury in Reagan Administration and a former editor of the Wall Street Journal.

In the second half Roberts helps explain why the overall US economy is such a basket case today. If you are not aware of the causes of US debt and poverty then please watch.

[Posted at the SpookyWeather blog, May 24th, 2011.]

1 comment:

steven andresen said...


This episode was, again, very interesting.

There was a recent RT piece on American Media's criticisms of RT as an outlet taken over by extremist positions, one example would have to be Max and Dr. Roberts. The criticism was that RT attracts an audience by airing loud and mistaken positions that appeal to the ignorant. Whereas, the American people should pay attention to the MSM because they have more reasonable if less strident guests and hosts.

All this is beside the point as to whether what the guests and hosts are saying, their issues, their assessments, are more accurate ...truthfull...than those found in the MSM.

RT wanted to argue that their guests were actually found all over and on the MSM, so this criticism was misleading.

A friend has argued to me that Robert's complaint about off-shoring jobs is a "left wing" way of getting us to ignore the real problem, which is that because of support the American people have made to American corporations they rightly should have significant ownership positions in these companies. So, if the government bails out GM or Chrysler, then the American people should benefit from that by getting an ownership position in those companies. That is, in the future whatever profits that company makes must be shared with all its owners including the American people.

I think Germany and German corporations have this kind of relationship.

So, if the city of portland, here in oOregon, should pass a bond issue that builds a stadium for a basketball or baseball team, this investment should not be considered just a cost that the people should have to endure, but as also acquiring for them some significant position in the sports company that this major investment is going to benefit.

So, if that sports team should want to move to some other town where they could find a better deal on the use of a stadium the people of the city of portland would still be able to benefit from that sports team's profits whereever they should travel.

I think the problems that Roberts points out go along with the major amount of corruption in government where elected officials are mere tools of the crooks in the private sector. This is why the benefits of any government program must be directed at the people instead of the government.

These Robert's videos were very good.