Paul Craig Roberts Translations

What part will your country play in World War III?

 

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What part will your country play in World War III?

By Larry Romanoff

The true origins of the two World Wars have been deleted from all our history books and replaced with mythology. Neither War was started (or desired) by Germany, but both at the instigation of a group of European Zionist Jews with the stated intent of the total destruction of Germany. The documentation is overwhelming and the evidence undeniable. (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11)

That history is being repeated today in a mass grooming of the Western world’s people (especially Americans) in preparation for World War IIIwhich I believe is now imminent

READ MORE

 

Friday, September 4, 2015

My Quarterly Call For Your Support and My Latest Column + Whither The Economy?

My Quarterly Call For Your Support and My Latest Column


Dear Friends,

It is September and time for my quarterly request for your support. The website has a number of supporters who have set up automatic monthly donations. If the website had more of these, I could dispense with quarterly requests.

If you contribute via PayPal or Stripe, please make a note of it. As credit card companies are saving money by not providing much of a description of your card charges, some contributors do not recognize the charges and file a dispute. These mistaken disputes waste a lot of my time and cost the website money in automatic “fraud fees.” Credit card companies are set up for purchases, not for contributions. Therefore, PayPal and Stripe assume that the charge to your card originated with the website and not with you, and I become involved in an incorrect charge dispute. IPE does not have your credit card number and cannot charge you for anything. When you use your card to make a donation, PayPal or Stripe has your card number, not IPE.

Remember, this is your website. To use an old expression, I am at the time of life when I would like to be shed of all this and spend my time with family and my cats, hiking along the mountain streams and walking the beach while I still can, and driving sports cars while I can still get in and out of them. But I understand that I provide a window into The Matrix or out of it, and I will not desert you as long as you support the site. I understand, without being conceited, that my education and life experiences mean that I know things that you can’t know and that there is scarcely anyone else to inform you. This statement does not mean that I think I know about everything and that every explanation I give is 100% correct. Experience and best effort are what I give you.

I appreciate your emails and try to read them all, but I cannot respond to them all, especially the ones asking for my responses to manuscripts, books, video presentations, and requests for lengthy explanations of various matters and advice. If I stopped reading and writing and only attended to your requests, I would still not be able to satisfy them all. The absence of my reply does not mean that you are rejected or that I don’t think that your thoughts and efforts are worthwhile. It merely means that time, energy, and other duties are constraints. The same applies to requests to collaborate in various ventures and protests. I am only one person, and my hands are full.

This month is a busy one for me. Family visitors and other responsibilities will necessitate that I take some time off, so expect my postings to be lighter than usual. After the 20th of the month, things should ease a bit.

In the meantime, below is my take on the economy in contrast to the disinformation fed to you by the government and financial media.


Whither The Economy?

Paul Craig Roberts


The great problem with corporate capitalism is that publicly owned companies have short time horizons. Unlike a privately owned business, the top executives of a publicly owned corporation generally come to their positions late in life. Consequently, they have a few years in which to make their fortune.

As a consequence of the short-sightedness of reformers and Congress, the annual salaries of top executives were capped at $1 million. Amounts in excess are not deductible for the company as an expense. The exception is “performance-related” pay, which has no limit. The result is that the major part of executive pay comes in the form of performance bonuses. Performance means a rise in the price of the company’s shares.

Performance bonuses can be honestly obtained by good management or mere luck that results in a rise in the company’s profits. However, there are a number of ways in which performance bonuses can be less legitimately obtained, almost all of which result in short-term gains to executives and shareholders and long-term damage to the corporation and economy.

Replacing American workers with foreign workers is one way. The collapse of communism in Russia and China and the collapse of socialism in India resulted in the under-utilized Indian and Chinese labor forces becoming available to American corporations. Pushed by “shareholder advocates,” Wall Street, and large retailers, US manufacturing corporations began closing their manufacturing plants in the US and producing offshore the goods, and later the services, that they market to Americans.

From the standpoint of the short-term interests of executives and shareholders, this decision made sense. But to transform manufacturing companies into marketing companies, as happened for example to Apple Computer, which apparently does not own a single factory, was a strategic mistake for the long-term. By offshoring the production of their products, US corporations transferred technology, physical plant, and business knowhow to China. American corporations are now dependent on China, a country that the idiots in Washington are endeavoring to turn into an enemy.

Further downside comes from the fact that research, development, and innovation are connected to the manufacturing process, because it is difficult for these important functions to be successful in a sterile atmosphere removed from the production process. As time goes by, US companies are transformed from manufacturing enterprises into sales organizations and lose connection to the work process, and these functions relocate abroad with the manufacturing jobs.

Offshoring manufacturing jobs left Americans with fewer high-value-added well-paid jobs, and the US middle class downsized. Ladders of upward mobility were taken down. Income and wealth distributions worsened. In effect, the One Percent got richer by giving away US incomes and GDP to China. Economists who shilled for the offshoring corporations promised new and better jobs to take the place of the lost manufacturing jobs, but as I have pointed out for years, there is no sign of these promised jobs in the payroll jobs releases or ten-year jobs projections.

Jobs offshoring began with manufacturing, but the rise of the high speed Internet made it possible to move offshore tradable professional skills, such as software engineering, Information Technology, various forms of engineering, architecture, accounting, and even the medical reading of MRIs and CT-Scans. The jobs and careers of university graduates were sent abroad and denied to Americans. Many of the jobs that remained in the US were given to foreign workers brought in on H1-B and L-1 work visas based on the obviously false claim that there was a shortage of talent in the US.

The gains in executive bonuses and shareholder capital gains were achieved by destroying the economic prospects of millions of Americans and by reducing the growth potential of the US economy. In the long-run this means the demise of the US as a world power. As I forecast in 2004, “the US will be a Third World country in 20 years.”

As jobs offshoring ran its course and had fewer remaining gains to offer the One Percent, short-term greed turned to new ways of wrecking both corporations and the US economy in behalf of executive and shareholder gains. Executives of utility companies, for example, forewent maintenance and upgrades and used the money instead to buy back their own shares. If you have ever wondered why you can’t get faster Internet in your area or why your electricity is constantly interrupted, this is probably the cause.

Executives also use the company’s profits to repurchase shares, and when they lack profits executives arrange bank loans to the companies in order to buy back shares. Executive “performance pay” goes up, but the corporations are left more heavily indebted and thus more vulnerable to recession and foreign competition. In recent years, buybacks and dividends have used up most of corporate profits, leaving the corporations bereft of updates and reserves.

Publicly owned capitalism’s short-term time horizon is also apparent with regard to nature’s resources and the environment. Ecological economists, such as Herman Daly, have established the fact that environmental destruction is the consequence of corporations moving many of the waste costs associated with their activities off their profit and loss statements and onto the environment. As other ways of artificially raising corporate profits and share prices become exhausted, expect corporations to push harder against pollution control measures. As the environment declines in its ability to produce new resources and to absorb wastes or pollution—for example the large growing dead areas in the Gulf of Mexico—the planet’s ability to sustain life withers.

President Richard Nixon established the Environmental Protection Agency in order to reduce the external or social costs that corporations impose on the environment. However, the polluting industries were not slow in taking over or capturing the agency, as University of Chicago economist George Stigler predicted.

A basis of economic theory is the absurd assumption that man-made capital is a perfect substitute for nature’s capital. This means that if the environment is used up and ruined, not to worry. Innovation and technology will substitute for nature. This absurd foundation of economic theory is why there are so few ecological economists. Economics teaches not to worry about the environment.

To sum up, the One Percent have enriched themselves at the expense of the economy’s potential and everyone else.

Where does the economy stand at the present time, a question on many of your minds? I am not a seer. Nevertheless, various things are obvious. In the US consumer demand is constrained by high debt and the absence of growth in real median family income. Evidence of the constrained US consumer shows up in lackluster real retail sales and in year-over-year declines in factory orders. On September 2, Zero Hedge reported that factory orders had fallen for 9 consecutive months.

As I point out, the monthly payroll jobs announcements are always overblown and consist largely of lowly-paid, part-time, domestic service employment. The 5.3% unemployment rate is phony, because it does not count any discouraged workers, and there are millions of them. Indeed, the absence of jobs is the reason the labor force participation rate has continually declined, a contradiction to the alleged recovery. On September 1, the Economic Cycle Research Institute reported that the US government’s data on employment/population ratios by education shows that the employment/population ratio for those with high school and college diplomas is lower now than when the alleged economic recovery began in June 2009. The only job gains have been for those without a high school diploma, the cheapest labor available in the US. Clearly, these are not jobs that will produce any rebound in consumer demand. And clearly education is not the answer.

The main economic releases from Washington—the ones that make the headline news: the unemployment rate, payroll jobs, GDP, and the consumer price index—are worthless. The unemployment rate does not include millions of unemployed, the CPI is rigged to undercount inflation, and as inflation is undercounted, real GDP is over-reported. Indeed, in my opinion and that of economic-statistician John Williams of shadowstats.com, nominal GDP deflated with a correct measure of inflation shows essentially no growth during the alleged recovery. What the government and financial media call economic growth is essentially price rises or inflation.

What is happening to America is that all of the surplus in the system accumulated over decades of success is being used up. Americans have had no interest income from their savings since the Federal Reserve decided to print trillions of dollars with which to purchase the troubled financial assets of a small handful of mega-banks. In other words, the Federal Reserve decided that, contrary to the propaganda about serving the public interest, the Fed exists to serve a few oversized banks, not the American people or their economy. As an institution, the Federal Reserve is so corrupt that it should be shut down.

The elderly avoid the stock market, because a decline can be long-lasting and eat up a large chunk of one’s savings. The same can happen from long-term bonds. Therefore, older people prefer shorter term interest instruments. The Federal Reserve’s zero interest rate policy means that older people are using up their savings, at the expense of their peace of mind and their heirs, in order to prevent a collapse in their standard of living. The elderly are also drawing down their savings in support of unemployed children and grandchildren. Unable to find jobs that will support the formation of a household or even an individual existence, many young college educated Americans are living with parents or grandparents, something I have not previously seen in my lifetime.

All the while the corrupt financial media pump us full of good economic news.

Many readers want to know if the stock market decline is over. It remains to be seen. In my opinion two opposite forces are at work. Based on earnings and the economy’s prospects, stocks are overvalued. However, the appearance of a successful economy is important to Washington’s power, and this brings in the Plunge Protection Team, a US Treasury/Federal Reserve team that intervenes to support the market. Wall Street managed to get the team created in 1988, and in the recent troubled days there are signs of it in operation. For example, suddenly during a time of market decline strong purchasing appeared, arresting the decline. Normally, optimistic purchasers who interpret declines as buying opportunities wait until the decline is over. They do not buy into the middle of a decline.

Today most stock purchases are made by money managers, such as mutual funds and pension funds. Individuals do not account for much of the market. Money managers are judged by their performance relative to their peers. As long as they move up or down with their peers, they are safe. Once the professionals see that government is supporting the market, they support it. This behavior is bolstered by greed. Participants want the market to go up, not down. Therefore, even if money managers understand that stocks are a bubble, they will support the bubble as long as they think the Plunge Protection Team is holding up the market. The unanswered question in the minds of money managers is whether the Treasury and Fed are committed to maintaining an overvalued market or whether they are just holding it up long enough for their well-connected friends to get out. Only time will tell.
My book, The Failure of Laissez Faire Capitalism and Economic Dissolution of the West, will introduce you to the damage done by jobs offshoring and to the mistaken assumption of economists that the environment puts no constraints on economic growth.

The other part of the story comes from Michael Hudson, who explains the financialization of the economy and the transformation of the financial sector, which once financed the production of real goods and services, into a money-sucking leach that sucks all life out of the economy into its own profits. I recently posted a link to Pam Martens’ review of his book, Killing The Host.

If you can absorb my book, Michael Hudson’s book, and one of Herman Daly’s books, you will have a much firmer grasp on economics than economists have. Go to it.



And don’t forget to support this site.





Dr. Paul Craig Roberts was Assistant Secretary of the Treasury for Economic Policy and associate editor of the Wall Street Journal. He was columnist for Business Week, Scripps Howard News Service, and Creators Syndicate. He has had many university appointments. His internet columns have attracted a worldwide following. Roberts' latest books areThe Failure of Laissez Faire Capitalism and Economic Dissolution of the West and How America Was Lost.


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What part will your country play in World War III?

By Larry Romanoff

The true origins of the two World Wars have been deleted from all our history books and replaced with mythology. Neither War was started (or desired) by Germany, but both at the instigation of a group of European Zionist Jews with the stated intent of the total destruction of Germany. The documentation is overwhelming and the evidence undeniable. (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11)

That history is being repeated today in a mass grooming of the Western world’s people (especially Americans) in preparation for World War IIIwhich I believe is now imminent

READ MORE

 

BRUTALITY

BRUTALITY IN ACTION

AND NO ONE REACTS AGAINST AND OPPOSES IT!!!....

BRUTALIDADE EM ACÇÃO

E NINGUÉM REAJE CONTRA ELA E SE OPÕE!!!...

https://twitter.com/backtolife_2023/status/1589485984361873408?s=20&t=7vdffgzpUFi2yeU4FxCHng

 



MOON OF SHANGHAI

MOON OF SHANGHAI
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What part will your country play in World War III?

By Larry Romanoff, May 27, 2021

The true origins of the two World Wars have been deleted from all our history books and replaced with mythology. Neither War was started (or desired) by Germany, but both at the instigation of a group of European Zionist Jews with the stated intent of the total destruction of Germany. The documentation is overwhelming and the evidence undeniable. (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11)

READ MORE

 https://www.moonofshanghai.com/2021/05/larry-romanoff-what-part-will-your.html

Discurso do Presidente da Rússia, Vladimir Putin, na manhã do dia 24 de Fevereiro de 2022

Discurso do Presidente da Rússia, Vladimir Putin, Tradução em português




Presidente da Rússia, Vladimir Putin: Cidadãos da Rússia, Amigos,

Considero ser necessário falar hoje, de novo, sobre os trágicos acontecimentos em Donbass e sobre os aspectos mais importantes de garantir a segurança da Rússia.

Começarei com o que disse no meu discurso de 21 de Fevereiro de 2022. Falei sobre as nossas maiores responsabilidades e preocupações e sobre as ameaças fundamentais que os irresponsáveis políticos ocidentais criaram à Rússia de forma continuada, com rudeza e sem cerimónias, de ano para ano. Refiro-me à expansão da NATO para Leste, que está a aproximar cada vez mais as suas infraestruturas militares da fronteira russa.

É um facto que, durante os últimos 30 anos, temos tentado pacientemente chegar a um acordo com os principais países NATO, relativamente aos princípios de uma segurança igual e indivisível, na Europa. Em resposta às nossas propostas, enfrentámos invariavelmente, ou engano cínico e mentiras, ou tentativas de pressão e de chantagem, enquanto a aliança do Atlântico Norte continuou a expandir-se, apesar dos nossos protestos e preocupações. A sua máquina militar está em movimento e, como disse, aproxima-se da nossa fronteira.

Porque é que isto está a acontecer? De onde veio esta forma insolente de falar que atinge o máximo do seu excepcionalismo, infalibilidade e permissividade? Qual é a explicação para esta atitude de desprezo e desdém pelos nossos interesses e exigências absolutamente legítimas?

Read more

ARRIVING IN CHINA

Ver a imagem de origem


APPEAL TO THE LEADERS OF THE NINE NUCLEAR WEAPONS’ STATES

(China, France, India, Israel, North Korea, Pakistan, Russia, the United Kingdom and the United States)

中文 DEUTSCH ENGLISH FRANÇAIS ITALIAN PORTUGUESE RUSSIAN SPANISH ROMÂNA

Larry Romanoff,

contributing author

to Cynthia McKinney's new COVID-19 anthology

'When China Sneezes'

When China Sneezes: From the Coronavirus Lockdown to the Global Politico-Economic Crisis

LARRY ROMANOFF on CORONAVIRUS

Read more at Moon of Shanghai

World Intellectual Property Day (or Happy Birthday WIPO) - Spruson ...


Moon of Shanghai

J. Bacque

20 questions to Putin

President of Russia Vladimir Putin:

Address to the Nation

Address to the Nation.


The President of Russia delivered the Address to the Federal Assembly. The ceremony took place at the Manezh Central Exhibition Hall.

January 15, 2020

State of the Nation

Joint news conference following a Normandy format summit

https://tributetoapresident.blogspot.com/2019/12/joint-news-conference-following.html

Joint news conference following the Normandy format summit.

índice


“Copyright Zambon Editore”

PORTUGUÊS

GUERRA NUCLEAR: O DIA ANTERIOR

De Hiroshima até hoje: Quem e como nos conduzem à catástrofe

ÍNDICE

me>

TRIBUTE TO A PRESIDENT


NA PRMEIRA PESSOA

Um auto retrato surpreendentemente sincero do Presidente da Rússia, Vladimir Putin

CONTEÚDO

Prefácio

Personagens Principais em 'Na Primeira Pessoa'

Parte Um: O Filho

Parte Dois: O Estudante

Parte Três: O Estudante Universitário

Parte Quatro: O Jovem especialista

Parte Cinco: O Espia

Parte Seis: O Democráta

Parte Sete: O Burocrata

Parte Oito: O Homem de Família

Parte Nove: O Político

Apêndice: A Rússia na Viragem do Milénio


Daniele Ganser

Açores


Subtitled in EN/PT

Click upon the small wheel at the right side of the video and choose your language.


xmas





“Glory to God in the highest,

and on Earth

Peace, Good Will toward men.”

This Christmas, Give Peace