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Paul Craig Roberts Warns U.S. Now Close To Total Collapse

from KingWorldNews:

Eric King: “Dr. Roberts, we’ve seen Goldman Sachs reiterate their call for $1,050 gold, which has facilitated the smash on gold today. This comes on the anniversary of last year’s $200 two-day smash in gold. But Goldman is claiming gold will decline because the U.S. economy will accelerate in the second half of this year.”

Dr. Roberts: “The American economy is not going to boom because real consumer incomes have been falling, not rising. If there is no income growth then there is no credit growth either. So the U.S. economy is definitely not going to accelerate….

“I think this is just all part of keeping pressure off the dollar. This quantitative easing has done nothing for the U.S. economy except hurt it because it’s deprived everyone of interest income. This lack of interest income has caused a consumption of savings from the elderly. This is very detrimental for these people and detrimental for their heirs as well.

Dr. Paul Craig Roberts Continues @ KingWorldNews.com

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2 comments to Paul Craig Roberts Warns U.S. Now Close To Total Collapse

  • rich

    The US is an oligarchy, study concludes

    Report by researchers from Princeton and Northwestern universities suggests that US political system serves special interest organisations, instead of voters

    The US government does not represent the interests of the majority of the country’s citizens, but is instead ruled by those of the rich and powerful, a new study from Princeton and Northwestern Universities has concluded.

    The report, entitled Testing Theories of American Politics: Elites, Interest Groups, and Average Citizens, used extensive policy data collected from between the years of 1981 and 2002 to empirically determine the state of the US political system.

    After sifting through nearly 1,800 US policies enacted in that period and comparing them to the expressed preferences of average Americans (50th percentile of income), affluent Americans (90th percentile) and large special interests groups, researchers concluded that the United States is dominated by its economic elite.

    The peer-reviewed study, which will be taught at these universities in September, says: “The central point that emerges from our research is that economic elites and organised groups representing business interests have substantial independent impacts on US government policy, while mass-based interest groups and average citizens have little or no independent influence.”

    Researchers concluded that US government policies rarely align with the the preferences of the majority of Americans, but do favour special interests and lobbying oragnisations: “When a majority of citizens disagrees with economic elites and/or with organised interests, they generally lose. Moreover, because of the strong status quo bias built into the US political system, even when fairly large majorities of Americans favour policy change, they generally do not get it.”

    http://www.telegraph.co.uk/news/worldnews/northamerica/usa/10769041/The-US-is-an-oligarchy-study-concludes.html

  • Rainwaterrunningdog

    The elite are NOT immune from the financial, social and governmental collapse. The consequences from the long run of oligarchy aka elite power in the US, will end. The panic of loosing control is the unground current that is running throughout our country. That is why there are so many laws trying to control the second amendment, remove the firearms in America and eliminate the Constitution. This collapse is going to be a massive octopus with massive tentacles creating huge impacts on America and around the world. I think many Americans realize that sitting down and “talking it out” or “negotiating” with the government/elite is over with. Option 2 coming soon.

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