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Vladimir Putin: The Most Powerful Person In The World

by Paul Craig Roberts, Paul Craig Roberts:

It must be wonderful being Vladimir Putin and being the most powerful person on earth. And not even have to say so yourself. The US Democratic Party is saying it for Putin along with the entirety of the Western presstitute media and the CIA and FBI also. The Russian media doesn’t have to brag about Putin’s power. Megyn Kelly, the Western presstitutes, and Western leaders are doing it for them: Putin is so powerful that he is able to place in office his choice for the President of the United States.

I mean, Wow! What power! Americans are simply out of the game. Americans, despite a massive intelligence budget and 16 seperate intelligence services plus those of its NATO vassals, are no match whatsoever for Vladimir Putin.

I mean, really! What is the CIA for? What is the NSA for? What are the rest of them for? Americans would do better to close down these incompetent, but expensive, “intelligence services” and pay the money to Putin as a bribe not to select our president. Maybe the CIA should get down on its knees and beg Putin to stop electing the President of the United States. I mean, how humuliating. I can hardly stand it. I thought we are the “world’s sole superpower, the uni-power, the exceptional, indispensable people.” It turns out that we are a nothing people, ruled by the President of Russia.

When the Democrats, CIA, and media decided to launch their PR campaign against Trump, they didn’t realize how inconsequential it would make the United States appear by putting American democracy into Putin’s pocket. What were they thinking? They weren’t. They were fixated on making sure Trump did not endanger the massive military/security complex budget by restoring normal relations with Russia.

There is no sign that American leadership in any area is actually capable of thought. Consider Wall Street and corporate leadership. To boost share prices Wall Street forced all corporations to desert their home country and move the production of goods and services sold to Americans offshore to where labor and regulatory costs were lower. The lower costs raised profits and share prices. Wall Street threatened resistant corporations with takeovers of the companies if they refused to move abroad in order to increase their profits.

Neither Wall Street nor corporate boards and CEOs were smart enough to understand that moving jobs offshore also moved US consumer incomes and purchasing power offshore. In other words, the financial and business leadership were too stupid to comprehend that without the incomes from high value-added, high productivity US jobs, the American consumer would not have the discretionary income to continue in his role as the economy’s driver.

The Federal Reserve caught on to Wall Street’s mistake. To rectify the mistake, the Fed expanded credit, allowing a buildup in consumer debt to keep the economy going on credit purchases. However, once consumer debt is high relative to income, the ability to buy more stuff departs. In other words, credit expansion is not a permanent fix for the lack of consumer income growth.

A country whose financial and business leadership is too stupid to understand that a population increasingly employed in part-time minimum wage jobs is not a big spending population is a country whose leadership has failed.

It is strickly impossible to boost profits by offshoring jobs without also offshoring US consumer incomes. Therefore, the profits from offshoring are temporary. Once enough jobs have been moved offshore that aggregate demand is stymied, the domestic market stagnates and then declines.

As I have demonstrated so many times for so many years, as has John Williams (shadowstats.com), the jobs reports from the US Bureau of Labor Statistics are nonsense. The jobs in the alleged recovery from June 2009 are largely low income domestic service jobs and the product of the theoretical birth/death model. The alleged recovery from the 2007-08 financial crisis is the first recovery in history in which the labor force participation rate declined. Labor force participation rates decline when the economy offers scant job opportunities, not when employment opportunities are rising.

What we know about US jobs is that the jobs are increasingly part-time minimum wage jobs. According to a presstitute news report that might or might not be true, there are only 12 counties in the entirely of the United States in which a person can rent a one-bedroom home on a minimum wage income. https://www.theguardian.com/us-news/2017/jun/08/minimum-wage-affordable-housing-rentals-study

In response to this report, a professor at Virginia Tech suggested that the government offer increased rental assistance and boost programs such as the National Housing Trust Fund, which invests in affordable housing.

In other words, taxpayers are to pick up the costs to Americans of US corporations deserting the US labor force. Those Americans who still have middle class incomes will be taxed to cover the lost incomes that the offshoring corporations and Wall Street have snatched away from American workers who can no longer earn enough to pay for their own housing.

In other words, capitalism has reached the point in its descent that it cannot exist without public subsidies for the people dispossessed by capitalism.

On a number of occasions I have written about how many costs of production are imposed on third parties, such as the environment. A significant percentage of the profits of capitalist corporations comes from the political and legal ability of the corporations to impose their costs of production on third parties. In other words, capitalism makes money because it can impose its costs of production on the environment and on people who do not share in the profits. I have provided many examples of this, especially in the area of real estate development. The developer is able to shift a large part of his costs to others.

Read More @ PaulCraigRoberts.org

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