Category Archives: PCR

Obama’s Jobs Fig Leaf Falls to the Ground

Paul Craig Roberts | Jun 03 2016

Employment Lies

Today the Bureau of Labor Statistics announced that the US economy only created 38,000 new jobs in May and revised down by 59,000 jobs the previously reported gains in March and April.

Yet the BLS reported that the unemployment rate fell from 5.0 to 4.7 percent, a figure generally regarded as full employment.

The May jobs increase only covers a small fraction of the monthly growth in the labor force and, therefore, cannot account for the drop in unemployment.

Moreover, the BLS reported that the labor force participation rate fell by 0.2 percentage points, bringing the decline to 0.4 percentage points over the past two months. Normally, a strong labor market, such as one represented by a 4.7% unemployment rate, causes an increase in the labor force participation rate.

The question becomes: How real is the 4.7% rate of unemployment?

The answer is: Not at all.

Continue reading Obama’s Jobs Fig Leaf Falls to the Ground

There Has Been A Coup In Brazil — Paul Craig Roberts

Paul Craig Roberts | May 29 2016

In Brazil the country’s largest newspaper has published a transcript of a secret recording leaked to the newspaper. The words recorded are the plot by the rich Brazilian elite, involving both the US-corrupted Brazilian military and Supreme Court, to remove the democratically elected president of Brazil under false charges in order to stop the investigations of the corrupt elites who inhabit Brazil’s senate and bring to an end Brazil’s membership in BRICS. The Russian-Chinese attempt to organize an economic bloc independent of Washington has now lost 20% of its membership.

Democracy has been overthrown in Brazil as in Ukraine, Honduras—indeed, everywhere the dirty evil hand of Washington falls, including the US itself.

Glenn Greenwald reports on the extraordinary leak of the 75-minute recording of the conversations between Brazilian elites laying out the plot to frame the President of Brazil in order to protect themselves. https://theintercept.com/2016/05/23/new-political-earthquake-in-brazil-is-it-now-time-for-media-outlets-to-call-this-a-coup/

Continue reading There Has Been A Coup In Brazil — Paul Craig Roberts

Ten Indications That ISIS Is A US-Israeli Creation

Makia Freeman | April 09, 2016 | Paul Craig Roberts

or-37164

ISIS is a US-Israeli creation, a fact as clear as the sky is blue. It’s a truth as black and white as the colors on their flag. For many alternative news readers, this may be patently obvious, but this article is written for the large majority of people in the world who still have no idea who is really behind the rise of ISIS. No matter which name they go by – ISIS, ISIL, IS or Daesh – the group has been deliberately engineered by the US and Israel to achieve certain geopolitical goals. They are a religious, fundamentalist, Sunni terrorist organization created to terrorize and overthrow certain secular or Shiite Arab nations such as Syria and Iraq, but they are not just “Islamic”. They may be Muslims, and they may be advocating an Islamic State, but they are very much working towards the goals of Zionism.

It’s amazing how many people still struggle to get that point. We have been inundated with propaganda surrounding the fraudulent war on terror, notably terms such as Islamic terrorism and radical Islam, but more accurate phrases would be Zio-Islamic terrorism and radical Zio-Islam. Secret military agencies such as the CIA and the Mossad pull the strings. Here is a list of the top 10 ‘indications’ thatISIS is a US-Israeli creation.

ISIS is a US-Israeli Creation: Indication #1: ISIS Foreknowledge via Leaked DIA Doc

The DIA (Defense Intelligence Agency) is 1 of 16 US military intelligence agencies. According to a leaked document obtained by Judicial Watch, the DIA wrote on August 12, 2012 that:

“there is the possibility of establishing a declared or undeclared Salafist Principality in eastern Syria (Hasaka and Der Zor), and this is exactly what the supporting powers to the opposition want, in order to isolate the Syrian regime …”

This was written before ISIS came on to the world stage. Clearly ISIS was no random uprising, but rather a carefully groomed and orchestrated controlled opposition group.

Continue reading Ten Indications That ISIS Is A US-Israeli Creation

Trans-Atlantic & Trans-Pacific “Partnerships” Complete Corporate World Takeover

Paul Craig Roberts | April 09, 2016

As I have emphasized since these “partnerships” were first announced, their purpose is to give corporations immunity from the laws in the countries in which they do business. The principle mechanism of this immunity is the granting of the right to corporations to sue governments and agencies of governments that have laws or regulations that impinge on corporate profits. For example, France’s prohibitions of GMO foods are, under the “partnerships,” “restraints on trade that impinge on corporate profits.

The “partnerships” set up “tribunals” staffed by corporations that are outside the court systems of the sovereign governments. It is in these corporate tribunals that the lawsuits take place. In other words the corporations are judge, jury, and prosecutor. They can’t lose. The “partnerships” set up secret unaccountable governments that are higher and have power over the elected governments.

You can ask yourself how much money the representatives of the countries who “fasttracked” this system were paid by the corporations and how much the bribes will be to get the agreements approved by the legislators. As you witness American, British, German and other government officials agitate in behalf of corporate rule, you will know that they have been well paid.

Continue reading Trans-Atlantic & Trans-Pacific “Partnerships” Complete Corporate World Takeover

Jobs Report Blues

Paul Craig Roberts | April 02, 2016

On Friday the Bureau of Labor Statistics reported that there were 215,000 new jobs in March.

John Williams of ShadowStats.com reports that these “new jobs” result from the the Birth-Death model that “artificially inflates headline month-to-month payroll gains with add-factors that currently average well in excess of 200,000 jobs per month.”

In other words, the jobs are the product of a model’s assumption that unreported new start-ups created 200,000 more jobs than unreported business failures lost.

To look at the jobs report in a different way, assume March did bring 215,000 new jobs and ask, “which sectors had jobs gains?” The answer is the same as has been the case since I began years ago reporting on the payroll jobs report:

Retail trade accounts for 47,700 of the jobs.

Health care and social assistance account for 44,000 of the jobs.

Waitresses and bartenders account for 24,800 of the jobs.

Manufacturing lost 29,000 jobs.

Continue reading Jobs Report Blues

Does The United States Still Exist?

Paul Craig Roberts | March 26, 2016

An address delivered to the Libertarian Party of Florida on March 23, 2016 in Destin, Florida

To answer the question that is the title, we have to know of what the US consists. Is it an ethnic group, a collection of buildings and resources, a land mass with boundaries, or is it the Constitution. Clearly what differentiates the US from other countries is the US Constitution. The Constitution defines us as a people. Without the Constitution we would be a different country. Therefore, to lose the Constitution is to lose the country.

Does the Constitution still exist? Let us examine the document and come to a conclusion.

The Constitution consists of a description of a republic with three independent branches, legislative, executive, and judicial, each with its own powers, and the Bill of Rights incorporated as constitutional amendments. The Bill of Rights describes the civil liberties of citizens that cannot be violated by the government.

Article I of the Constitution describes legislative powers. Article II describes executive powers, and Article III describes the power of the judiciary. For example, Article I, Section 1 gives all legislative powers to Congress. Article I, Section 8 gives Congress the power to declare war.

The Bill of Rights protects citizens from the government by making law a shield of the people rather than a weapon in the hands of the government.

The First Amendment protects the freedom of speech, the press, and assembly or public protest.

The Second Amendment gives the people the right “to keep and bear arms.”

Continue reading Does The United States Still Exist?

Taxing Social Security Benefits

by Paul Craig Roberts, published March 09, 2016

Truth is the enemy of the state, and always has been. But today the Western populations live in a world of total lies. Try to think of anything that the government has told you the truth about. “Saddam Hussein’s weapons of mass destruction,” “Assad’s use of chemical weapons,” “Russian invasion of Ukraine” are not the only lies. Everything the government says is a lie. The unemployment rate. The GDP growth rate. The inflation rate. Payroll jobs. 9/11. Tonkin Gulf. Boston Marathon Bombing. Paris attacks.

Consider the taxation of Social Security benefits. Social Security existed for 49 years, from 1935 to 1984 without the benefits being taxed. Wall Street, David Stockman, Alan Greenspan, and the Republican establishment are responsible for breaking the promise to the American people and subjecting Social Security benefits to income taxation. When the Supply-Side economic policy led to the collapse of inflation far quicker than Stockman’s budget prediction had taken into account, federal budget deficits appeared that Stockman and Wall Street blamed on Reagan’s economic program. In those days the only economics the Republican establishment knew was fear of budget deficits. The fools actually thought that a budget deficit caused by the unanticipated collapse in inflation was going to cause inflation.

Continue reading Taxing Social Security Benefits

The Public Is Being Looted By Privatization And Deregulation

by Paul Craig Roberts, published February 23, 2016

The privatization movement and the deregulation movement have turned out to be failures.

Privatization in Britain under the Thatcher government had its origin in the belief that the absence of incentivized managers and shareholders with a stake in the bottom line resulted in nationalized companies operating inefficiently, with their losses covered by government like the big private banks’ losses today. Thatcher’s government believed that privatizing socialized firms would reduce the UK budget deficit and take pressure off the British pound.

Today privatization is a way that governments can reward cronies by giving them valuable public resources for a low price. When the UK government privatized the postal system, there were news reports that one postal property in London alone was worth the purchase price of the entire postal service.

Continue reading The Public Is Being Looted By Privatization And Deregulation

The U.S. Economy Has Not Recovered and Will Not Recover

by Paul Craig Roberts, published February 18, 2016

The US economy died when middle class jobs were offshored and when the financial system was deregulated.

Jobs offshoring benefitted Wall Street, corporate executives, and shareholders, because lower labor and compliance costs resulted in higher profits. These profits flowed through to shareholders in the form of capital gains and to executives in the form of “performance bonuses.” Wall Street benefitted from the bull market generated by higher profits.

However, jobs offshoring also offshored US GDP and consumer purchasing power. Despite promises of a “New Economy” and better jobs, the replacement jobs have been increasingly part-time, lowly-paid jobs in domestic services, such as retail clerks, waitresses and bartenders.

The offshoring of US manufacturing and professional service jobs to Asia stopped the growth of consumer demand in the US, decimated the middle class, and left insufficient employment for college graduates to be able to service their student loans. The ladders of upward mobility that had made the United States an “opportunity society” were taken down in the interest of higher short-term profits.

Without growth in consumer incomes to drive the economy, the Federal Reserve under Alan Greenspan substituted the growth in consumer debt to take the place of the missing growth in consumer income. Under the Greenspan regime, Americans’ stagnant and declining incomes were augmented with the ability to spend on credit. One source of this credit was the rise in housing prices that the Federal Reserves low inerest rate policy made possible. Consumers could refinance their now higher-valued home at lower interest rates and take out the “equity” and spend it.

Continue reading The U.S. Economy Has Not Recovered and Will Not Recover