How Much Death and Destruction Awaits Us in 2018?
Paul Craig Roberts
The New Year is one full of economic, political, and war threats.
Among the economic threats are stock, bond, and real estate markets artificially pumped up by years of central bank money creation and by false reports of full employment. It is an open question whether participants in these markets are aware that underlying reality does not support the asset values. Central banks support stock markets not only with abundant liquidity but also with direct stock purchases. The Japanese central bank is now one of the largest owners of Japanese equities. Central banks, which are supposed to provide economic stability, have created a massive fraud.
Throughout the Western world politics has degenerated into fraud. No government serves the public’s interest. (See: https://www.paulcraigroberts.org/2017/12/29/eric-zuesse-explains-americas-worst-enemy/ ) Except for some former Soviet satellites in Eastern Europe, European governments have defied the will of the people by admitting vast numbers of refugees from Washington’s wars and others pretending to be refugees. The European governments further imperil their citizens with their support for Washington’s rising aggression toward Russia. The universal failure of democratic politics is leading directly to war.
The Saker explains that Americans with intelligence, honor, courage, and integrity have disappeared from the US national security establishment. In their place are arrogant morons high on hubris who believe: (1) We can buy anybody, (2) Those we cannot buy, we bully, (3) Those we cannot bully, we kill, (4) Nothing can happen to us, we live in total impunity no matter what we do. http://www.unz.com/tsaker/2018-war-or-no-war/
Scott Bennett reports that US soldiers are being propagandized that Russia is an enemy with whom we are headed to war. https://www.facebook.com/capsule.ninetynine.7/videos/1992321041038611/
The Anglo-Zionist empire is trying to overturn the Iranian agreement and to restart the attempt to overthrow the government of Syria. Lebanon’s Hezbollah is also in the empire’s sights. Washington is arming Ukraine in order to enable an attack on the breakaway provinces of Novorussia. Threats against North Korea escalate. Even little Venezuela is threatened with military intervention simply because the country wants to control its own destiny and not be controlled by Washington and the New York banks.
In the opinion of some, Russia’s very cautious diplomacy has increased the likelihood that Washington will miscalculate and give the world a third world war. By not accepting the requests of the breakaway Russian provinces in Ukraine to be reunited with Russia, the Russian government paved the way for Washington to provide the military means for its Ukrainian puppet to attempt to reconquer the provinces. Success would damage Russian prestige and encourage Washington in its aggressive actions. Sooner or later Russia will have to stand and fight.
Russia’s premature declaration of victory in Syria and withdrawal has made it possible for US forces to remain in Syria and attempt to restart the effort to overthrow the Assad government. Russia would have to defend its victory, or by the failure to do so encourage more aggressive actions by Washington.
Hopes have evaporated that President Trump would restore the normalized relations between the nuclear powers that Reagan and Gorbachev made possible. The question for the New Year is when does Washington’s aggression against Russia ignite a hot war.
Your website will be examining these issues as they unfold in 2018. From the perspective of today, it is unlikely that the New Year will be a happy one. Nowhere in the West is there a sign of leadership toward peace and the well-being of humanity.
Hon. Paul Craig Roberts is the John M. Olin Fellow at the Institute for Political Economy, Senior Research Fellow at the Hoover Institution, Stanford University, and Research Fellow at the Independent Institute. A former editor and columnist for The Wall Street Journal and columnist for Business Week and the Scripps Howard News Service, he is a nationally syndicated columnist for Creators Syndicate in Los Angeles and a columnist for Investor's Business Daily. In 1992 he received the Warren Brookes Award for Excellence in Journalism. In 1993 the Forbes Media Guide ranked him as one of the top seven journalists.
He was Distinguished Fellow at the Cato Institute from 1993 to 1996. From 1982 through 1993, he held the William E. Simon Chair in Political Economy at the Center for Strategic and International Studies. During 1981-82 he served as Assistant Secretary of the Treasury for Economic Policy. President Reagan and Treasury Secretary Regan credited him with a major role in the Economic Recovery Tax Act of 1981, and he was awarded the Treasury Department's Meritorious Service Award for "his outstanding contributions to the formulation of United States economic policy." From 1975 to 1978, Dr. Roberts served on the congressional staff where he drafted the Kemp-Roth bill and played a leading role in developing bipartisan support for a supply-side economic policy.
In 1987 the French government recognized him as "the artisan of a renewal in economic science and policy after half a century of state interventionism" and inducted him into the Legion of Honor.
Dr. Roberts' latest books are The Tyranny of Good Intentions, co-authored with IPE Fellow Lawrence Stratton, and published by Prima Publishing in May 2000, and Chile: Two Visions - The Allende-Pinochet Era, co-authored with IPE Fellow Karen Araujo, and published in Spanish by Universidad Nacional Andres Bello in Santiago, Chile, in November 2000. The Capitalist Revolution in Latin America, co-authored with IPE Fellow Karen LaFollette Araujo, was published by Oxford University Press in 1997. A Spanish language edition was published by Oxford in 1999. The New Colorline: How Quotas and Privilege Destroy Democracy, co-authored with Lawrence Stratton, was published by Regnery in 1995. A paperback edition was published in 1997. Meltdown: Inside the Soviet Economy, co-authored with Karen LaFollette, was published by the Cato Institute in 1990. Harvard University Press published his book, The Supply-Side Revolution, in 1984. Widely reviewed and favorably received, the book was praised by Forbes as "a timely masterpiece that will have real impact on economic thinking in the years ahead." Dr. Roberts is the author of Alienation and the Soviet Economy, published in 1971 and republished in 1990. He is the author of Marx's Theory of Exchange, Alienation and Crisis, published in 1973 and republished in 1983. A Spanish language edition was published in 1974.
Dr. Roberts has held numerous academic appointments. He has contributed chapters to numerous books and has published many articles in journals of scholarship, including the Journal of Political Economy, Oxford Economic Papers, Journal of Law and Economics, Studies in Banking and Finance, Journal of Monetary Economics, Public Finance Quarterly, Public Choice, Classica et Mediaevalia, Ethics, Slavic Review, Soviet Studies, Rivista de Political Economica, and Zeitschrift fur Wirtschafspolitik. He has entries in the McGraw-Hill Encyclopedia of Economics and the New Palgrave Dictionary of Money and Finance. He has contributed to Commentary, The Public Interest, The National Interest, Harper's, the New York Times, The Washington Post, The Los Angeles Times, Fortune, London Times, The Financial Times, TLS, The Spectator, Il Sole 24 Ore, Le Figaro, Liberation, and the Nihon Keizai Shimbun. He has testified before committees of Congress on 30 occasions.
Dr. Roberts was educated at the Georgia Institute of Technology (B.S.), the University of Virginia (Ph.D.), the University of California at Berkeley and Oxford University where he was a member of Merton College.
He is listed in Who's Who in America, Who's Who in the World, The Dictionary of International Biography, Outstanding People of the Twentieth Century, and 1000 Leaders of World Influence. His latest book, HOW THE ECONOMY WAS LOST, has just been published by CounterPunch/AK Press. He can be reached at: [email protected]
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