Paul Craig Roberts: U.S. Economy Descending to Third World Level

[Smaland]

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[antonio]

The American economy would never be the same because of a new balance point with third world economies is still to be reached. The point for a healthy economy on such new circunstances is to keep your country free of as many subsidized foreigners as you can...and your native population (not meaning Indians but with a broader sense) under control, at least, if they want to stay in USA forever.

[Smaland]

One of the best things that the U.S. could do for the workers is to return to the tariff system. With tariffs in place, business would have the economic incentive to return IT and manufacturing jobs to the United States.

If the average person can work in a steel mill instead of at a convenience store, he or she will earn a higher wage. If they are able to earn higher wages, workers will be able to save for retirement. Because they would be able to collect more tax revenue, governments would be better able to pay cash to provide services, and rely less on deficit financing.

[Curtis24]

Fantasy and wishful thinking. U.S. economy and U.S. power is based strongy on geography which won't be changing anytime soon.

[Cato]

Hyperbole.

[Austin]

I'd say the unemployment rate in the U.S. is more along the lines of 11-14% compared to the 9.6% rate that the government claims.

Basically knowing how political a government is if it tells you unemployment is 9.6 it probably is two or three points above that in reality.

My 17 year old brother went to apply at a new restaurant opening nearby. He walked up and there were what looked like 50 people there he said. When he went inside the hiring manager told him "I'd go home we have 70 people waiting for an interview most of which won't get one". This was in the best part of town so you can imagine what it is like in the parts of town with no money....So yeah definitely the 9.6% employment rate is bogus it is much higher.

[Smaland]

Hyperbole.

Roberts was an Undersecretary of the Treasury in the Reagan Administration. Therefore, he has the training, experience and contacts to analyze the problem as accurately as anyone.