Thursday, April 02, 2015

Once again Greg Hunter interviews Paul Craig Roberts. They make a great pair. Early on PCR corrects Greg's false impression that Iran has a nuclear weapons program. RE the Yemen war, PCR sees it as a way to draw Iran into the battle as an excuse for Israel to bomb Iran. Asked about the Obama administration's intentions, PCR remarked that he was once high up in a presidential administration wherein the agendas and meetings were so many that they "prevented you from doing your job." Finally turning to the US economy, PCR said it is now so bad that it will no longer be possible to fake employment reports and that this situation is beyond repair. That is, we are headed toward a Great Depression with no way out...

Middle East Revolution & Inflationary Depression Coming-Paul Craig Roberts

By Greg Hunter On March 29, 2015 Original Here

By Greg Hunter’s USAWatchdog.com (Early Sunday Release)

Former Assistant Treasury Secretary Dr. Paul Craig Roberts thinks the Middle East violence is going to get much worse. Dr. Roberts contends, “Unless the Islamic State somehow collapses, you are going to see a new wave of revolutionary developments in the Middle East. I suspect all the oil dictatorships will be overthrown because there is a tiny handful of people we installed there and they are mega-billionaires, and there isn’t anybody else that’s got anything. . . . I think they are all headed down the drain.”

Why does the foreign policy of the U.S. in the Middle East look so confusing and scattered? Dr. Roberts says, “The administration has different elements with different agendas. So, different elements in the administration are pursuing different agendas. Some still want to overthrow Assad; so, they want to support ISIS. Others think ISIS has gotten out of control and is doing something we didn’t expect. So, you have various blocks inside our government in conflict with one another.”

GREG HUNTER

Turning to the American economy, Dr. Roberts, who has a PhD in economics, thinks, “If you measure inflation correctly, GDP (gross domestic product) has been negative since the downturn in December of 2007. It never recovered. All of the other indicators show that there is no sign anywhere of recovery. . . . My own opinion is the first quarter and second quarter of this year will be negative and probably it will go down from there. I don’t think there will be a recovery, and there is really no way they can recover it except by understating inflation. There has been no growth in real consumer income for decades. That means people have no growth in their income. So, they can’t spend more and prices are rising faster than are acknowledged. All you got to do is go to the grocery store. . . . So, people’s real income is falling, and if real income is falling, there can be no growth in consumer demand. . . . What can the Fed do? There’s not much they can do except print more money. That will eventually get into the economy and drive up prices. So, you are going to have no ability to buy anything because of rising prices—hyperinflation. They have created a perfect storm. There is really no way out for the Fed. They focused the economic policy since 2008 on saving four or five big banks. That’s all they have done. . . . They have used up everything to save four or five big banks.”

What does Dr. Roberts see for the rest of this year? Dr. Roberts says, “I don’t retain a forecasting model, but I can see what’s going on. The first six months of this year and the GDP, even with the fake inflation numbers, will be negative. The decline is so strong now that they can’t hide it anymore with manipulated numbers. So, we are going to go into a recession. How do you get out of it? I can’t see any way for them to get out of it, so, it will worsen. I think it will head into a depression. . . . I think we are going to have an inflationary depression, and there is no policy cure for that. . . Dr. Roberts goes on to say, “They may expect this and that could explain the militarization of the police.”

Join Greg Hunter as he goes One-on-One with Dr. Paul Craig Roberts of PaulCraigRoberts.org.

(There is much more in the video interview.)

https://youtu.be/IaB9EcUCkdI

After the Interview:

Dr. Roberts is a prolific writer and posts his articles on his free website PaulCraigRoberts.org. If you would like to help out Dr. Roberts with a tax deductible contribution (click here.)