Paul Craig Roberts: The American Economy

Paul Craig Roberts: The American Economy
Paul Craig Roberts, a former Assistant Secretary of the Treasury for Economic Policy during the Reagan administration and associate editor of the Wall Street Journal, has been cited in several articles on the Iranian news website PressTV.

Ex- Reagan administration official: US using Ukraine conflict to weaken Russia. A former Ronald Reagan administration official says the United States is using the Ukraine conflict as a tool to weaken Russia.

Dr. Paul Craig Roberts, who was assistant secretary of the Treasury for Economic Policy in the 1980s, wrote in a recent article that the administration of US President Joe Biden is not at all concerned about the plight of the people of Ukraine and is prepared to sacrifice the country on the altar of weakening Russia.

In the article titled “It Seems Russia Won’t Require a Winter Offensive to Win the War,” Dr. Roberts wrote that the Russian military had until recently been abstaining from using all of its might on Ukraine.

Dr. Roberts, who was Assistant Secretary of the Treasury in the Reagan Administration and associate editor of the Wall Street Journal, said that Russia’s latest missile strikes targeting critical infrastructure across Ukraine are a sign that the Kremlin “finally realized that Russia is at war.”

He wrote that for eight months since the start of the military campaign, Russia had been “protecting Ukraine from attack, thus helping Ukraine to conduct war against the Russian forces.”

He claimed that Russia still does not want to “destroy everything unless the West and its puppet Ukraine government fail to come to their senses.”

The analyst argued that Russia is sparing Ukraine and the population because they “have been a part of Russia for centuries.”

The ex-Treasury official further wrote, “From Washington’s standpoint, the more Ukraine is destroyed the better.”

Roberts explained that Ukraine’s destruction would end up being an “economic and financial drain on Russia.”

“It is unjust that it is Ukraine that is paying the cost of Western inhumanity and not Washington and the European capitals,” Roberts wrote.

Russian President Vladimir Putin accused Ukraine of using its forces as "cannon fodder" amid Moscow's ongoing military operation in the ex-Soviet republic, saying those who refuse to fight for Kiev face dire consequences.

Putin leveled the accusation against, what he called, Kiev's "neo-Nazi regime" on Friday, while addressing mothers of Russian servicemen, Russia Today reported.

Russia started the military campaign in its southern neighbor in February. It says it launched the operation in order to defend the pro-Russian population in the eastern Ukrainian regions of Luhansk and Donetsk against persecution by Kiev.

Back in 2014, the two republics broke away from Ukraine, refusing to recognize a Western-backed Ukrainian government there that had overthrown a democratically-elected Russia-friendly administration.

Ever since the beginning of the war, Kiev's allies, led by the United States and Britain, have been pumping Ukraine full of advanced weapons, a step that Russia says would only prolong the hostilities.

Putin said the operation was not aimed at the Ukrainian people, but rather against the Ukrainian regime and the foreign countries, which were using Ukraine as a proxy. "Those who supply Ukraine with weapons and fund the Kiev government have no consideration for Ukraine’s losses," the report said, citing the Russian head of state.

An American economist and author said the decision by the US Federal Reserve to raise interest rates in the face of collapsing consumer demand may signal an intention to cause an economic collapse.

Dr. Paul Craig Roberts also said US companies are taking advantage of the Ukraine conflict with Russia and raising energy prices at home.

Dr. Roberts, who was Assistant Secretary of the Treasury in the Reagan Administration and associate editor of the Wall Street Journal, in an article, as the Fed announced its latest supersized 0.75 percentage point rate hike Wednesday.

The Fed said the raise was needed to counter inflation.

Wall Street stocks fell on Thursday, extending a retreat as more central banks joined the Federal Reserve in raising interest rates in response to soaring inflation.

Inflation has been on the rise in the United States, hitting a four decade high of more than nine percent, leaving many Americans with no choice but to dig deeper into their finances just to pay for gasoline, food, healthcare and rent.

Recent surveys have found that three out of four middle-class Americans feel that their income cannot keep up with soaring inflation. Most Americans are preparing for a recession by cutting back on spending, delaying major purchases, or planning to work longer before retirement.

“The Federal Reserve has a long record of mistaken decisions. Unless the Federal Reserve’s intent is to collapse the economy, the current policy of higher interest rates will go down as the most mistaken reading of the economy since the Great Depression,” said Dr. Roberts.

“Prices are rising sharply in Germany, UK, and Europe, but not because of an increase in money creation. They are rising because US sanctions against Russia have reduced the supply of energy and disrupted transportation. Supply reductions have driven up prices of everything dependent on energy and transportation,” he added.

“The US is not experiencing these problems to the same extent. Energy prices have risen some, because the companies are taking advantage of the situation,” he wrote.

“In the US higher prices are due to shortages resulting from the lockdowns that closed businesses and broke supply chains. In America’s global world, problems abroad restrict supply here. The point is that the inflation is not a monetary inflation. Therefore, the Federal Reserve’s policy of raising interest rates is nonsensical. Higher interest rates just add to costs, shrink supply, and mean higher prices,” he stated.

“If the Federal Reserve actually knows what it is doing, it is intentionally trying to cause an economic collapse, which makes me wonder if the Federal Reserve is in league with Klaus Schwab’s WEA plan to cause crises that can be used to establish heavy-handed rule,” he added.

“The latest news in the US, if not fabricated, is that consumer demand is collapsing. Federal Express reports that its business is hurting because orders are declining. Merchants report that consumer traffic is off. The real estate market has been brought to a halt. It is mindless for the Federal Reserve to raise interest rates in the face of collapsing consumer demand,” he said.

“So the real question is: what is the Federal Reserve really up to?” the analyst asked.

Over the past 21 years, the number of Americans who believe that the official story of the September 11, 2001 attacks is false has steadily grown, according to Dr. Paul Craig Roberts, American economist and author.

Dr. Roberts, who was Assistant Secretary of the Treasury in the Reagan Administration and associate editor of the Wall Street Journal, made the remarks in an article on Sunday as Americans commemorated the 21st anniversary of the 9/11 attacks in the United States that left nearly 3,000 people dead.

“There has never been an official US investigation of the attack,” wrote Dr. Roberts.

“After much pressure from families of those who died in the collapse of the towers, the White House finally and most reluctantly assembled a 9/11 Commission consisting largely of politicians and a neoconservative staff director to sit and listen to the government’s narrative and to write it down. This is what comprised the 9/11 Commission Report,” he stated.

“NIST’s account of the collapse is simply a computer simulation that delivered the results NIST programmed into the simulation,” he noted.

American leaders have called the 9/11 attacks had been one of the darkest days in the history of the country.

US officials assert that the attacks were carried out by 19 al-Qaeda terrorists, 15 of them Saudi nationals, but many experts and independent researchers have raised questions about the official account.

They believe that rogue elements within the US government, such as former Vice President Dick Cheney, orchestrated or at least encouraged the 9/11 attacks in order to accelerate the US war machine and advance the Zionist agenda.

“For 21 years I reported on the independent investigations and findings of scientists, scholars, engineers, and architects that concluded on the basis of hard evidence that the government’s narrative was a false account,” wrote Dr. Roberts.

“Initially, the distinguished scientists, architects, and engineers who rejected the official narrative were characterized by the presstitutes as ‘conspiracy theorists,’ following the line the CIA had employed against experts who disputed the official narrative of President John F. Kennedy’s assassination. However, over time the efforts of Architects & Engineers for 9/11 Truth convinced more and more Americans that the official story was false. In recent years polls have shown that half of those polled no longer believe the official narrative,” he stated.

“It was obvious to me early that 9/11 was an inside job, a false flag event blamed on Muslims in order to justify two decades of a ‘war on terror’ whose purpose was to destroy Israel’s Middle Eastern opponents,” he wrote, adding that “and profits and power for the US military/security complex are all the ‘war on terror’ was about.”

The former top US official added, “The reason it was obvious to me that 9/11 was an inside job is that, as it was presented, it amounted to the worse humiliation a superpower had suffered in all of recorded history. A handful of young Saudi Arabians without support of any state or security agency had delivered a crushing blow to the image of the United States. The almighty National Security Apparatus was incapable of warding off a handful of foreigners who, magically, caused US airport security to fail four times on the same morning, hijack 4 airliners, cause the US military to conduct a simulation of the attack at the same time an actual attack was occurring, thus causing massive confusion that prevented the US Air Force from intercepting the hijacked airliners. The young men also prevented VP Dick Cheney, who was monitoring ‘the attack on America,’ from blocking the attack on the Pentagon.”

“When you look at this record of extraordinary failure of the multi-trillion dollar National Security State and hear no demand from the President of the United States, the Pentagon and Joint Chiefs of Staff, Congress, and the media for investigation and accountability for the government’s total failure, hearing instead opposition to any inquiry, you know for an absolute fact that the highest levels of the US government were responsible for the attack in order to unleash war on the Middle East, just as Pearl Harbor was a Roosevelt orchestration to get the US into a war that Congress and the American people opposed,” he pointed out.

“If in fact the US government believed its narrative, the government, embarrassed to the hilt, would have been demanding explanation and accountability. There would have been endless investigation. Many heads would have rolled. I spent a quarter century in Washington, and I know for a fact that the government would not have been content to assemble a Commission and then read an implausible account to them and call that an investigation of America’s and their own humiliation,” he continued.

“What the government did instead of an investigation was to quickly destroy all the evidence. The massive steel beams of the towers clearly cut at an angle by high temperature explosives were quickly collected over objections by fire marshals, shipped out of the country in order to get rid of the evidence, and sold as scrap metal in Asia,” he noted.

Following the 9/11 attacks, the United States under the presidency of Republican George W. Bush invaded and occupied Afghanistan, despite the fact that no Afghan was involved in the attacks. The occupation continued for 20 years. Hundreds of thousands of Afghans died in the US war on the country.

Wesley Clark, the retired 4-star US Army general and Supreme Allied Commander of NATO during the 1999 War on Yugoslavia, said in the famous 2007 interview that the purpose of the 9/11 attack was to take out the governments of seven countries in five years. These seven countries were Iraq, Syria, Somalia, Libya, Sudan, Yemen, and Iran.

Clark’s interview serves as a reminder of the diabolical timeline of the American Empire’s hegemonic project. All of these countries have been directly or indirectly been the object of US aggression.

Iran has been a target of malicious US intentions but the United States failed to launch a war against it due to the Islamic Republic’s strong defense against the global hegemon.

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