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Article posted Oct 30 2011, 7:13 PM Category: Commentary Source: Dr. Paul Craig Roberts Print

Americans: Awash In Spin

Dr. Paul Craig Roberts

I have come to the conclusion that Big Brother's subjects in George Orwell's 1984 are better informed than Americans.

Americans have no idea why they have been at war in the Middle East, Asia and Africa for a decade. They don't realize that their liberties have been supplanted by a Gestapo Police State. Few understand that hard economic times are here to stay.

On October 27, 2011, the US government announced some routine economic statistics, and the president of the European Council announced a new approach to the Greek sovereign debt crisis. The result of these funny numbers and mere words sent the Standard & Poor's 500 Index to its largest monthly rally since 1974, erasing its 2011 yearly loss. The euro rose, putting the European currency again 40% above its initial parity with the US dollar when the euro was introduced.

On National Public Radio a half-wit analyst declared, emphatically, that the latest US government statistics proved that the recovery was in place and that there was no danger whatsoever of a double-dip recession. And half-brain economists predicted a better tomorrow.

Europe is happy because the European private banks, the creditors of the European governments, have agreed to eat 50% of Greece's sovereign debt and to be recapitalized by public money handed to them by the European Financial Stability Facility rescue fund. The President of the European Council, Herman Van Rompuy, thinks that Greece's debt is the only sovereign debt to be written down and that the debt of Italy, Spain, and Portugal will somehow be bailed out through other means, including a Chinese contribution to the EFSF rescue fund. Obviously, if all EU sovereign debt has to be cut by 50% as well, the rescue fund would not be up to the job.

For our corrupt financial markets, any news that can be spun as good news can send stocks up. But what are the facts?

For facts one has to turn to serious people, not to the presstitute media. Among those who give us real facts is John Williams of shadowstats.com. In his October 27 report, Williams exposes the happy second quarter 2011 economic growth figure of 2.5% as nonsense. Every other economic indicator contradicts the spin.

For example, personal consumption is reported to have increased 1.7%, but this surge in consumption took place despite a 1.7% collapse in consumer disposable income! In other words, if there was an increase in personal consumption, it come from drawing down savings or from incurring higher consumer debt.

A country's consumers cannot forever draw down savings or go deeper into debt. For an economy to recover, there must be growth in consumer income. That growth is nowhere to be seen in the US. A large percentage of the goods and services sold to Americans by American corporations are now produced abroad by foreign labor. Thus, Americans no longer received incomes from the production of the goods and services that they consume. The American consumer market is on its way out.

The Dow Jones rose 339.51 points on the phony good news, but consumer sentiment is in the basement. John Williams reports that "consumer confidence hit the lowest levels ever recorded in 2008 and 2009" and that consumer confidence has now "fallen back to that 2008 level." But the stock market boomed. Somehow a population 23% unemployed with debt up to its eyeballs is going to spark an economic recovery.

Recovery can only happen in the delusional world created for us by the concentrated media. No longer permitted to utter one world of truth, the presstitutes proclaim non-existent recoveries and weapons of mass destruction and demonize Washington's chosen opponents.

The sovereign debt crisis in Europe has distracted Americans from the much worst crisis in their country. After two decades of exporting US manufacturing and middle class jobs, and after a decade of consumer debt growth that has resulted in millions of foreclosed homeowners and massive credit card and student loan debt that cannot be paid, consumers have no income growth or borrowing capacity with which to fuel an economy based on consumer demand.

European banks, already ruined by purchases of Standard & Poor's and Moody's AAA ratings of junk derivatives, now find themselves threatened by sovereign debt. Greece's debt crisis, caused with Goldman Sachs' help in hiding the true debt of the country as was done for Enron, has brought to light that Portugal, Ireland, Italy, and Spain, in addition to Greece, have more debt than the governments can service.

In the EU, unlike the US and UK which have their own central banks that can create new money to bail out the over-indebted governments, the EU central bank is prohibited by treaty from printing money in order to purchase bonds from member states that cannot be redeemed.

Regardless of the treaty prohibition, the EU central bank has been lending Greece the money to pay its bond holders. The imposed austerity that is part of the deal created political instability in Greece.

Now that European Council President Herman Van Rompuy has announced a 50% write-off by private banks of Greek sovereign debt, can the same treatment be denied Portugal, Italy, and Spain?

The European Central Bank is following the lead of the Federal Reserve and creating new money to bail out debt. The cost will be paid in inflation and flight from the euro and the dollar. As an indication of the future, despite the positive spin on the news and the rise in US stocks, on October 27 the Japanese yen rose to a new high against the US dollar.
__
Dr. Paul Craig Roberts is the father of Reaganomics and the former head of policy at the Department of Treasury. He is a columnist and was previously an editor for the Wall Street Journal. His latest book, "How the Economy Was Lost: The War of the Worlds," details why America is disintegrating.





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Comments 1 - 6 of 6 Add Comment Page 1 of 1
Dave

Posted: Oct 31 2011, 9:17 AM

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<I have come to the conclusion that Big Brother's subjects in George Orwell's 1984 are better informed than Americans>

but they are orwell's subjects. the central banking con requires a police state and as is documented in the 1984 plan, a tavistock world, what is known to insiders as the freud hilton.

some refer to 'law' as the shield of tyranny. there is some truth in that however what is called 'law' isn't law (you must be made to believe) and what is called law is tyranny.

a gang of people put some words out and they get a stream of business with people being assaulted by enforcers, hence make believe. as mind control cults go, this is the most profitable one.

to avoid injury people comply, business for the police state dries up so more words are issued until the gang is all powerful and mad the recipients of these words destroyed.

we have a death train, death by increment, living death on a road to death. applying the business model to life fails.

what if there was nonen of this nonsense? what then? people do not want to be destroyed rather want to live, want freedom, as is evidenced by compliance with a vengeful god. people if free would rationally thwart an aspiring dictator.
Dave

Posted: Oct 31 2011, 9:25 AM

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critical to deconstructing the political rhetoric is to see the mirrors, the meaning of words change across fake divides. if a political entity like the law society talk of peace, they are talking about their peace which means trying to pay compound interest to central banking (which is impossible) having money themselves (for their freedom to abuse detainees) and fighting for freedom of conscience (by assaulting their victims so they can't answer back).

an empire requires mind control systems. freud, one of tavistock's heros documented the achievements of the dicatorship, the corporate human. the true self (id), the fake persona (ego) and the internal of the war of the superego requiring arbitration between service to two gods. thus there is two pillars in a split mind. consider a corporation, owners (real agenda - external id), the compulsory customers (external slaves) and management (external superego) plus the dividers to maintain this war paradigm. all states are police states with central banking and the perpetual war results in, to use occult language 'death after a process after a process'.
Dave

Posted: Oct 31 2011, 9:30 AM

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if we are conscious the war is seen, the internal and external split is seen. if people know judicial processes are death, the entire industry a fraud and the police the explanation as to how death is able to stay in control, people can then contemplate whether to follow this god or reject it as rather a predatory disease.

david cameron (broken nose) is whipping boy for the dictatorship and has given the views of the dictatorship which is to invest in more mind control, faster bandwidths for the mind control network (bt net as in V). that is death talking.

i write this guff to try to bring thinking into play, to reveal what is self evident with a little thought. what is sometimes called the precautionary principle, protection, cannot work, death is the means and the end rather than life.

it is unlikely people in the dictatorship will help you because they live in a reward and punishment system, they would be punished if they crossed the blue line, hit with the mob system of police, media, courts and with occult hits behind the scenes (death included).
Dave

Posted: Oct 31 2011, 9:36 AM

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rational thinking is only one of our faculties. if people notice the state is purely a mafia operation then the over military is moved back into the component businesses, as was pretty much done from the off by freemasons in design america. rational thinking can not only err (eg the notion of protection, safety), it is predictable and therefore can be controlled.

striking at the root takes down the theology, the group mind (destroyed mind) that freud analysed and that so threatens all. police states are most profitable, they are not about people wanting a nice house but predatory with an insatiable appetite. to avoid total death britain ran a global operation, a program know as 'climate change' to try to maintain global dicatorship, keeping industrial capability and control without benefiting people, rather inflicting injury. when in arizona i visited the elite's igloos, desigened not only as requiring low energy but also to survive jet stream wind speeds if created at the surface.

it takes down the construct to recognise what is real and not, to see that people in black uniforms are actors for death, an external representation of the superego who take on the persona of the uniform and deliver death to your door.
Dave

Posted: Oct 31 2011, 9:41 AM

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to the hypnotised and otherwise abused that form hives, the crown will be magic. as i see it, it is a hoax which is profitable with violence of a war that stretches right back to antiquity, requiring continuous sacrifice.

it takes no violence to be able to see and hear the silent screams of oppressors and oppressed. in freudian terms perhaps, if the group ego collapses, the superego is gone. life is then life, not death hiding behind a mirror.
Dave can't login

Posted: Oct 31 2011, 9:57 AM

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4660 wiki banking

as for central banking, the con that turns all life upside down, they are collecting up all the money to burn it. wicker people, the big fire for the god of war. outwardly enslavement through terror with occult ritual sacrifice at the end.
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