Paul Craig Roberts's blog

A Global House Of Cards

As most Americans, if not the financial media, are aware, Quantitative Easing (a euphemism for printing money) has failed to bring back the US economy.  So why has Japan adopted the policy? 

Since the heavy duty money printing began in 2013, the Japanese yen has fallen 35% against the US dollar, a big cost for a country dependent on energy imports.  Moreover, the Japanese economy has shown no growth in response to the QE stimulus to justify the rising price of imports.

Global Capitalism Has Written Off The Human Race

Economic theory teaches that free price and profit movements ensure that capitalism produces the greatest welfare for the greatest number.  Losses indicate economic activities where costs exceed the value of production, thus investment in these activities is curtailed.  Profits indicate economic activities where the value of output exceeds its cost, thus investment increases.  Prices indicate the relative scarcity and value of inputs and outputs, thus serving to organize production most efficiently.

Picking the Financial Bones of the Dying and the Dead

The anonymous Obamacare expert, who provided us a year ago with the most complete account of Obamacare available, has returned with an explanation of estate recovery. Obamacare herds the poor into Medicaid which requires some enrollees to forfeit homes and other assets they might have to the state to cover the cost of their medical care. The research article below is meticulous and demonstrates that Obamacare was not enacted to serve the people.

Killing the Economy

The economy has been debilitated by the offshoring of middle class jobs for the benefit of corporate profits and by the Federal Reserve’s policy of Quantitative Easing in order to support a few oversized banks that the government protects from market discipline. Not only does QE distort bond and stock markets, it threatens the value of the dollar and has resulted in manipulation of the gold price.

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