Monday, March 01, 2010

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 - with a government that is "owned" by the banks who created this crisis... Meanwhile our economy has been devastated / hollowed out by moving jobs off shore - the reason US unemployment is so bad and will not improve.

13 Comments:

At 3/02/2010 2:40 PM, Anonymous T Z said...

China benefited immensely by following the Japan model.

1) Buy up major US know-how and technologies. Such as electronics. This was done in the mid-80's.

2) Grab US marketshare by exporting goods, and outsource US R&D to Japan. This was done during the 90's and since.

3) To placate American politicians, Japan outsources national defense to the US.

Now let's see how China play this card:

1) Entice gargantuan US investments in know-how and technologies in China. So that Chinese get to learn and utilized 100 years of western advanced knowledge in a matter of a dozen years. This was accomplished.

2) Grab just about all of US goods manufacturing, so that hundreds of millions of Chinese gain wealth and build a self-sustaining 21th century developed economy. This has been done so successfully, that America middle class is left with 15% joblessness!

3) To placate American politicians, China will likely do the next step: outsources national defense to the US. Are you crazy you may rightfully ask. But this is an excellent move for both sides. See, China will buy up much of US military-industrial complex, and fund the US military to help defend China's strategic interests. While owning the high tech US defense industry is clearly good for China, what's so good for US? Well, it gets a sustained undiminished funding - the generals fear budget cuts far more than Russian nukes. Second, US budget deficit will be wiped out and national debt greatly reduced. As such, America can now afford to resume consumption of Chinese imports. Which, after all, may include the final cure for cancer.

 
At 3/02/2010 5:19 PM, Anonymous Anonymous said...

Ya right TZ,I want some of what you're smoking.The U.S. is finished,China will never allow someone else to defend them,let alone the U.S.

 
At 3/02/2010 5:40 PM, Blogger 45north said...

T Z China will likely do the next step: outsources national defense to the US.

China has outsourced national defense to the US.

If the US wasn't fighting Islamic militants then China would have to. With the recent capture of Baradar in Pakistan, it raises the question would China do any better? The war on terror is inevitable. Parts of the Qur'an teaches war against the infidel. Obviously Muslims live in peace today but today a war against the infidel doesn't have a reasonable chance of success.

 
At 3/02/2010 6:24 PM, Anonymous Anonymous said...

I contend China has not outsourced it's defense,because the U.S. war on terror is a false one.It is just an excuse to invade islamic countries that have energy resources or vast drug growing capability.The U.S. has created all the so called terrorists,with both direct and indirect funding to this end.Also the war against the infidel is having great success in utterly bankrupting America financially and morally.After the U.S. recedes from the world scene,the threat will disappear.

 
At 3/02/2010 8:22 PM, Blogger 45north said...

Well Iraq has important oil fields but war never has a single motivation. The American Civil War has more than one motivation - Lincoln's explanation not withstanding. Abolition of slavery or preservation of the Union? Take your pick.

Drug growing capability. Well Iraq could grow a lot more of anything than Afghanistan. Drug production is just not that important.

American didn't invade Bosnia but they sure did bomb Serbia to stop the genocide there.

Also China has not formally announced that it has outsourced defence to the US nor has it completely outsourced it. Gray has a lot of shades.

 
At 3/02/2010 9:01 PM, Anonymous Anonymous said...

You need to do your home work 45North. Afghanistan is the opium capital of the world. How do you think the CIA pays for it's many black ops across the world? Do you think the Iran Contra ordeal was a one time thing and the CIA swore themselves off of the drug trade?

I don't buy into the "everything is a conspiracy" train of thought. But I had to call bull S&*^ on that one.

Furthermore I don't buy into a rag tag team of cave dwellers being able to able to pull off 9/11 by their own accord. 9/11 stinks to the high heavens.

What does history teach us about the U.S. Government? It teaches about things like the U.S.S. Liberty, The Gulf of Tonkin, Iran Contra, the overthrow of a democratically elected leader long before Iran Contra with the installation of The Sha and his death squads. How about the installation of General Pinochet in Chile? How about a C.I.A. gulf stream jet crashing loaded down with Cocaine? Lets not forget a lone gunman killing JFK, YA RIGHT.

Men in high places of power are corrupt beyond measure all across this world. I run into many people across the net who think the world would be better off with Russia, Europe or China at the helm. Truly such people are delusional. But I would argue that having a mindset molded from pure propaganda(Al Qaeda, Dangerous "Man Made" Global Warming, so forth and so on) is delusional as well. More often than not if the lips of those who govern us are moving then they are lying to us.

Was it a conspiracy that killed Lincoln? How about JFK? The list is long and distinguished. Check out this link 33 Conspiracy Theories That Turned Out To Be True and then do a bit of your own digging.

No offense intended.

Justin_n_IL

 
At 3/03/2010 5:22 PM, Blogger 45north said...

Justin: How do you think the CIA pays for it's many black ops across the world?

I don't know. You talk as if you know about black ops. i seriously doubt it.

Furthermore I don't buy into a rag tag team of cave dwellers being able to able to pull off 9/11 by their own accord.

me neither

What does history teach us about the U.S. Government?

History is about knowing who you are. Do you know who you are? For instance what role did Illinois play in the American Civil War?

Men in high places of power are corrupt beyond measure all across this world.

Let's talk about the men in medium places of power. What about Illinois State Senators Pamela Althoff, Edward Maloney and A. J Wilhelmi? If you don't know the men in medium places of power then you cannot know them in high places.

To know anything of power, you must serve it. I don't think that you have Justin.

 
At 3/03/2010 5:49 PM, Anonymous Anonymous said...

According to your logic I can't possibly know that there is a thunderstorm on the way since I am not a meteorologist. Never mind the dark clouds and sudden drop in temperature. I will go ahead with that picnic and toss good "sense" out the door.

Justin_n_IL

 
At 3/03/2010 6:11 PM, Blogger 45north said...

Justin: A thunderstorm is on its way. Cancel the picnic.

But that's not enough. It's important that you know something of power and for that you have to serve it.

 
At 3/03/2010 7:37 PM, Anonymous Anonymous said...

45north said.."But that's not enough. It's important that you know something of power and for that you have to serve it."
What kind of mindless crap is this?

 
At 3/03/2010 10:09 PM, Anonymous Anonymous said...

I think I will get some silver and gold headed in my direction. Hold on a little longer I getting a little at a time. My garden, green house, cows, chickens are doing well. I am in the middle of no where with a good water well and a little bit of acreage. Got a few shells and bulletts to. I just need a little more time.

 
At 3/04/2010 9:16 PM, Anonymous Anonymous said...

A new piece by Paul C.R. Is The Recovery Real?

Justin_n_IL

 
At 3/09/2010 6:14 AM, Blogger EarthBlog News© said...

Great blog !

 

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