[yt_dropcap type=”square” font=”” size=”14″ color=”#000″ background=”#fff” ] H [/yt_dropcap] ere’s an idea – how about appointing a US Treasury Secretary who actually cares for the ultimate welfare of the American People and the United States of America for a change, as opposed to using his position as a “revolving door” a la the cadre of treasonous “America-last” gaggle of premeditated criminals merely taking a leave of absence from their full-time jobs at Goldman Sachs and Covington & Burling LLP?
The American economy and its engineered 2008 crash wrought by such “financial luminaries” as Robert Rubin, Larry Summers, Gene Sperling, Hank Paulson, Tim Geithner, and others, has left a lasting effect, if not almost the total destruction of, the American Economy.
Much has been written about how the above cabal literally, beginning with when they were working under the Bill Clinton presidency, forced and coerced Mr Clinton to repeal the Glass-Steagall Act, which was the barrier separating risky investment bank behavior from “mom and pop” checking accounts and savings, thus essentially imbuing these massive financial institutions to proceed unfettered towards the shark-infested waters of bad deals, risky investments, speculative spending, and other crazy financial stunts, for “high-risk/high-yield” Pyramid and Ponzi schemes more akin to a night at a seedy Las Vegas casino, rather than what should supposedly have been judicious, well-planned, and risk-averse behavior on behalf of these banking behemoths.
Simultaneously, these same organized criminals used the Housing and Urban Development (“HUD”) headed up by then chief Andrew Cuomo to put enormous pressure on such loan entities as Fannie Mae and Freddie Mac to lower and reduce the credit requirements to purchase a million dollar home, so that every burger flipper across America could buy a financial and un-payable “albatross” around their neck, and when the Federal Reserve eventually removed cash liquidity from the markets, all of these new “homeowners” literally found themselves on a merry-go-round that suddenly stopped, with their monthly mortgage payments coming due, but no jobs or cash to pay them, thus resulting in tens of millions of massive housing defaults across the country.
Even more sickeningly, Goldman Sachs and others only a few years earlier created a “reverse credit swap derivative,” betting on the ultimate failure within the housing market, again earning countless billions when this inevitable “housing bubble” burst.
Are these the same kind of people we want back in the United States Treasury, engineering our “economic recovery?”
These bankers, unfettered by the protections guaranteed by Glass-Steagall, could feel confident that even if their bad investments went completely and totally south, that they would eventually be bailed out by none other than the American taxpayer – and that’s exactly what happened.
But what about a former Assistant US Treasury Secretary, who previously was appointed by, and served under, one of the greatest U.S. Presidents of all time, Ronald Reagan, and who was actually instrumental in pulling America out of the quagmire of idiotic and out of control government spending, a lazy un-stimulated economy, and the general malaise of the 1970s “disco economy” manned and presided over by Democrat President Jimmy Carter?
That individual is none other than the great Dr. Paul Craig Roberts, hero to the 300 million strong American people, personal mentor to hundreds of thousands, and demonstrated enemy of the Oligarchy/Plutocracy Deep State Elite, the latter of whom have been shown the proverbial “door” by the American people in their overwhelming support of President-Elect Donald J. Trump.
The American People were able to hoist Donald Trump to the presidency even in the face of the overwhelming “cheating mechanisms” of the Deep State Oligarch Elite with their complete and total brainwashing control of the Mainstream Media, the awesome buying power of the international bankers, the co-opting of the vast majority of our legislative (senate and congress)/judiciary/executive branches, the “black bag/covert operations/color revolutions” of Deep State agent provocateurs such as George Soros who previously used to only direct his regime change operations against foreign governments rather than fomenting “purple” revolutions here at home?
Dr Paul Craig Roberts has been critical of the United States Department of the Treasury and the U.S. financial regulatory authorities – particularly of the actions of the Federal Reserve System – from former Chairmen Alan Greenspan and Ben Bernanke’s terms to current Chairwoman Janet Yellen via quantitative easing policies and low interest rates, the latter of which he has argued (due to his view that official government data is biased) are actually negative interest rates.
One only has to peruse the countless and brilliantly incisive books and articles penned by Dr. Paul Craig Roberts over the past few decades, and especially within the past few years, freely available on the internet and in hard book format, to clearly and easily discern just what this man stands for, what his expertise is, how much he loves the United States of America, how much he values peace and the avoidance of “stupid foreign wars,” his support, hope for, and measured loyalty to the incoming Donald Trump Administration (for Trump, “loyalty is key”), his overall and general distrust for the U.S. Government and the awesome power it yields, his suspicion over the latest du jour “terrorist attacks” all over the world which he, as do the vast majority of Americans, believe are nothing but “false flags” designed to keep Americans and the rest of the global populace afraid and compliant, ever ready to sacrifice and un-yieldingly relinquish even more of their God-given human rights, civil liberties, and constitutional protections for the sake of “state-sanctioned security” from the fabricated “boogeymen” of the Western/Saudi/Israeli/Turkish Intelligence Services known as ISIS or Al Qaeda.
His written works have also addressed and criticized outsourcing, economic deregulation, privatization of social services, Wall Street finance fraud and lax enforcement of environmental protection laws, as well as been a vocal opponent of taxing social-security payments, holding that this amounts to a “tax on a tax” or privatizing social-security believing this would create an opportunity for speculators to play with and lose the hard-earned savings of retirees.
There could be no better ally of the American People (and the Donald Trump administration) within the United States Treasury than Dr. Paul Craig Roberts, as he would be “our man within the US Treasury,” and would take control and design the much anticipated economic recovery, so badly needed by the citizenry.
He has already done it before, successfully, under the Reagan Administration, and he could easily and handily do it again under Trump.
Dr Paul Craig Roberts was born on April 3, 1939, and is often times described as an American economist, journalist, blogger and former civil servant.
He reached the height of his government career when he became the United States Assistant Secretary of the Treasury for Economic Policy under President Reagan in 1981.
In office he and his staff successfully combated the stagflation (price-inflation and stagnation) then plaguing the American Economy.
Tighter monetary policy was used to restrain inflation, in addition lower marginal tax rates were used to increase the rewards to work and investment.
In recognition, he was awarded the US Treasury’s Meritorious Service Award for “outstanding contributions to the formulation of United States economic policy.”
Dr Paul Craig Roberts has also been a huge supporter of common human decency, both in the United States and abroad, as a supporter of the human rights of the population of the West Bank, and he has criticized Israel’s policies and harsh actions against the Palestinians as well as speaking out against what he calls the Israel Lobby’s malign influence within US politics and academia.
Dr. Roberts is a graduate of the Georgia Institute of Technology (B.S. in Industrial Engineering) and holds a PhD from the University of Virginia.
He was a postgraduate at the University of California, Berkeley, and at Merton College, Oxford University.
From 1975 to 1978, Roberts served on congressional staff. As economic counsel to Congressman Jack Kemp, he drafted the Kemp-Roth bill (which became the “Economic Recovery Tax Act of 1981″). He played a leading role in developing bipartisan support for a supply-side economic policy.
Due to his influential 1978 article on tax burden for Harper’s Magazine while economic counsel to Senator Orrin Hatch, the Wall Street Journal editor Robert L. Bartley offered him an editorial slot.
He wrote for the WSJ until 1980.
He was a senior fellow in political economy at the Center for Strategic and International Studies, then part of Georgetown University.
From early 1981 to January 1982, Roberts served as assistant secretary of the treasury for economic policy, wherein President Ronald Reagan and Treasury Secretary Donald 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 “outstanding contributions to the formulation of United States economic policy.”
After his time in government he turned to journalism, holding positions of editor and columnist for the Wall Street Journal, columnist for Business Week, and the Scripps Howard News Service as well as contributing editor to Harper’s Magazine.
In addition to numerous guest and visiting-professorships at US universities, he was professor of business administration and professor of economics at George Mason University and was the inaugural William E. Simon Chair in Political Economy at Georgetown University, serving for 12 years.
From 1993 to 1996, he was a Distinguished Fellow at the Cato Institute.
He also was a Senior Research Fellow at the Hoover Institution.
This is another thing Donald Trump and Dr Paul Craig Roberts have in common – they are both former “insiders” who turned against the Establishment as an overwhelming gesture of heroic self-sacrifice to the American people, rather than continuing to “play the game” in order to keep enriching their own pockets at the expense of the American People and the United States.
Dr Roberts also has the great love and respect of foreign nations, governments, and dignitaries as did other previous and legendary US Government/Statesmen luminaries in centuries past, as Benjamin Franklin and Thomas Jefferson – 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 on March 20, 1987.
The French Minister of Economics and Finance, Edouard Balladur, came to the US from France to present the medal to Roberts.
In 1992, Roberts received the Warren Brookes Award for Excellence in Journalism from the free-market American Legislative Exchange Council (ALEC).
In 1993 the Forbes Media Guide ranked him as one of the top seven journalists in the United States.
In 2015, the Mexican Press Club awarded Dr. Roberts its International Award For Excellence In Journalism in recognition of his lifelong commitment to truth and unbiased-reporting in exposing the inner workings of the global economic power-structure.
Dr Paul Craig Roberts has written that “true conservatives” were the “first victims” of the neo-cons of the Bush administration.
He has criticized the Bush tax cuts, believing they “were nothing but a greedy grab” and were “not necessary policy adjustments but rewards to the mega-rich who underwrite political careers and provide grants to economic departments and think tanks,” however, also stating that “they are not a significant cause of today’s inequality.”
Of the 9/11 Commission Report, Dr Paul Craig Roberts wrote in 2006, “One would think that if the report could stand analysis, there would not be a taboo against calling attention to the inadequacy of its explanations.” (see Criticisms of the 9/11 Commission Report).
He has asserted there is a large “energy deficit” in the official account of the collapse of the three WTC buildings, and this deficit remains unexplained.
This is yet another, out of thousands, of common ground similarities currently shared by President-Elect Donald Trump and Dr Roberts – truly a government partnership/marriage made in heaven.
Roberts commented on the “scientific impossibility” of the official explanation for the events on 9/11, as did Donald Trump in a television interview when the Towers first went down in 2001.
On August 18, 2006, he wrote: “I will begin by stating what we know to be a solid incontrovertible scientific fact. We know that it is strictly impossible for any building, much less steel columned buildings, to ‘pancake’ at free fall speed. Therefore, it is a non-controversial fact that the official explanation of the collapse of the WTC buildings is false…. Since the damning incontrovertible fact has not been investigated, speculation and ‘conspiracy theories’ have filled the void.”
He has written or co-written 12 books, contributed chapters to numerous books, and published many articles in scholarly journals.
Dr Paul Craig Roberts, like President-Elect Donald Trump, has ultimate intestinal fortitude, as is evident by his countless papers, treatises, books, and articles, where he demonstrates an All-American fearlessness coupled with ingenuity, brilliance, common-sense, and stalwartness totally absent in our treasury departments over the past few decades.
President-Elect Donald Trump should give due consideration and thought to Dr Paul Craig Roberts to be United States Secretary of the Treasury, a living legend who is truly a testament to everything that is, and always has been, Great about America.
Trump’s New Wall? Mexico’s Southern Border
For much of modern history, Mexico defined itself in opposition to the United States. In recent years, the two countries stepped up cooperation on almost all relevant issues, and the two nations are now deeply intertwined politically, economically and culturally. This is bound to change. After months of ignoring Donald Trump’s provocations, López Obrador reacted rapidly to Trump’s shakedown and agreed to a number of resolutions of extraordinary scope and urgency: the new Mexican administration agreed to deploy the country’s federal police to its southern border to crack down on immigration; and opened the door to the controversial “Remain in Mexico” policy that would turn Mexico into a Third Safe Country in less than a month from now.
As stated in the agreement, Mexico would take in all the refugees that the US decides to send back to Mexico to await resolution of their asylum process. This could take years, given the substantial immigration backlog in American courts. The agreement goes further: Mexico is responsible for the provision of education, health care and employment for such refugees. This could easily lead to a serious humanitarian crisis that Mexican institutions will be unable to deal with.
This approach contradicts previous Mexican presidential vows for regional development and humanitarian relief rather than confrontation and enforcement. Conditions on the ground in Mexico are far harsher than the Mexican Foreign Affairs Minister, Marcelo Ebrard and the President, Andrés Manuel López Obrador, would like to admit, and this is partly due to the current administration’s miscalculations: López Obrador has dramatically cut the budget for governmental agencies responsible for managing refugees and processing removals. Mexican border towns are also ill-equipped for handling transient migrant populations; and Mexico also faces other more systematic challenges, such as corruption and lack of rule of law enforcement. The new policy agreed with the American government is likely to result in a significant increase in claims filed for asylum in Mexico. Mexico’s immigration bureaucracies are utterly overwhelmed, and López Obrador’s misguided budget cuts have exacerbated their failings.
Mexico’s immigration policy is now bound by an immoral and unacceptable deal that will effectively turn Mexico into Trump’s border wall. The global system for the protection of refugees is based on the notion of shared responsibility among countries. It is very dangerous for the US to use Mexico as a pawn to set an example and ignore its international responsibility. This agreement also violates international law on refugees: Mexico is a life-threatening country for undocumented migrants. Human trafficking, recruitment for organised criminal organisations, abduction, extortion, sexual violence, and disappearances are some of the issues migrants face in Mexico. Finally, Mexico’s National Guard, the agency that will be in charge of monitoring the southern border, was created by López Obrador to tackle domestic crime. Its members have no training nor knowledge on immigration matters. It is an untested new military force that could end up creating more problems than the ones it is trying to solve. Deploying agents to the border could also have a high political cost for the president.
The agreement with Trump gives López Obrador 45 days to show progress. If Mexico fails, Mexico will be forced to set in motion some version of Safe Third Country agreement, or face further tariff bullying from the US. This deal has been sold by the new Mexican administration as a victory over the US. More migrants, less money, extreme violence and a recalcitrant, unpredictable northern neighbour are the ingredients for a potential, impending refugee crisis, not a diplomatic victory.
Could Mexico have taken a different approach? Yes. Trump’s decision to impose tariffs would exacerbate the underlying causes of immigration in the region and do nothing to address it. His bullying to force Mexico to crack down on immigration was a cheap electoral ploy to mobilise its base with a view to winning the 2020 elections. This is nothing new. Trump is not seeking a solution; he is seeking a political gain. He built his first presidential campaign on an anti-Mexico and an anti-immigrant rhetoric. It worked in 2016, and he is planning to repeat the same formula.
The Mexican administration lack of knowledge on diplomatic matters, and their inability to play politics let a golden opportunity go. Using trade to bludgeon Mexico into compliance with an immigration crack down makes no sense: Mexico is not responsible for the increase in migratory flows. Central America’s poverty and violence trace back to American policies in the 1980s. Mexico is not responsible either for America’s famously dysfunctional immigration system. Trump’s economic threats against Mexico may not even have been legal: both the North American Free Trade Agreement (NAFTA), and the newly agreed US-Mexico-Canada Agreement (USMCA) require most trade between members to be tariff free.
Mexico could also have hit back with by levying tariffs that would have hurt swing-state voters, and in turn hurt Trump. This was the golden opportunity Mexico let slip from its hands. Mexico could have responded by hitting Trump where it hurts: Tariffs on American goods heading south. Mexico responded in a similar manner in June last year in response to the steel and aluminium tariffs. Mexico could have raised those tariffs each month in tandem with American levels.
This retaliation would have highlighted the gap between Trump’s anti-Mexican rhetoric and the underlying interdependence of the US and Mexico with stark consequences for the US presidential elections of 2020. Many of the biggest exporters to Mexico such as Arizona. Florida. California, Michigan and Illinois are swing states. New tariffs could have thrown Texas into recession and put its 38 electoral votes into play. It is all too late now, Mexico could have inadvertently helped Trump to get re-elected. Mexico has less than a month left to show some backbone and demand real American cooperation on the region’s shared challenges and rejecting Trump’s threats once and for all. The relationship between Mexico and the US could have been an example of cooperation under difficult conditions, but that would have required different American and Mexican presidents.
Scandinavia Veers Left plus D-Day Reflections as Trump Storms Europe
Mette Frederiksen of the five-party Social Democrat bloc won 91 of the 169 seats in the Danish parliament ending the rule of the right-wing Liberal Party group that had governed for 14 of the last 18 years. The election issues centered on climate change, immigration and Denmark’s generous social welfare policies. All parties favored tighter immigration rules thereby taking away the central issue dominating the far-right Democrat Freedom Party which has seen its support halved since the last election in 2015.
Ms Frederiksen promised more spending to bolster the much loved social welfare model and increased taxes on businesses and the wealthy. A left wave is sweeping Scandinavia as Denmark becomes the third country, after Sweden and Finland, to move left within a year. Mette Frederiksen will also be, at 41, the youngest prime minister Denmark has ever had.
Donald Trump has used the 75th anniversary of D-Day commemorations to garner positive publicity. The supreme promoter has managed to tie it in with a “classy” (his oft-chosen word) state visit to the UK spending a day with royals. It was also a farewell to the prime minister as her resignation is effective from June 7. Add a D-Day remembrance ceremony at Portsmouth and he was off to his golf course in Ireland for a couple of days of relaxation disguised as a visit to the country for talks — he has little in common with the prime minister, Leo Varadkar, who is half-Indian and gay.
Onward to France where leaders gathered for ceremonies at several places. It is easy to forget the extent of that carnage: over 20,000 French civilians were killed in Normandy alone mostly from aerial bombing and artillery fire. The Normandy American cemetery holds over 9600 soldiers. All in all, France lost in the neighborhood of 390,000 civilian dead during the whole war. Estimates of total deaths across the world range from 70 to 85 million or about 3 percent of the then global population (estimated at 2.3 billion).
Much has been written about conflict resolutions generally from a cold rational perspective. Emotions like greed, fear and a sense of injustice when unresolved lead only in one direction. There was a time when individual disputes were given the ultimate resolution through single combat. Now legal rights and courts are available — not always perfect, not always fair, but neither are humans.
It does not take a genius to extrapolate such legal measures to nations and international courts … which already exist. Just one problem: the mighty simply ignore them. So we wait, and we honor the dead of wars that in retrospect appear idiotic and insane. Worse is the attempt to justify such insanity through times like the “good war”, a monstrous absurdity.
It usually takes a while. Then we get leaders who have never seen the horror of war — some have assiduously avoided it — and the cycle starts again.
To Impeach Or Not To Impeach? That Is The Question
Robert Mueller let loose a thunderbolt midweek. Donald Trump had not been charged, he said, because it was Department of Justice policy not to charge a sitting president. Dumping the issue firmly into Speaker Nancy Pelosi’s lap, he reminded us of the purpose of the impeachment process. According to Mueller there are ten instances where there are serious issues with the president obstructing justice adding that his report never concludes that Trump is innocent.
So here is a simple question: If Mueller thought the president is not innocent but he did not charge him because of Justice Department policy, and he appears also to favor impeachment, then why in heaven’s name did he not simply state in his report that the preponderance of evidence indicated Trump was guilty?
Nancy Pelosi is wary of impeachment. According to the rules, the House initiates it and when/if it finds sufficient grounds, it forwards the case to the Senate for a formal trial. The Senate at present is controlled by Republicans, who have been saying it’s time to move on, often adding that after two years of investigation and a 448-page report, what is the point of re-litigating the issue? They have a point and again it leads to the question: if Special Counsel Mueller thinks Trump is guilty as he now implies, why did he not actually say so?
Never one to miss any opportunity , Trump labels Mueller, highly conflicted, and blasts impeachment as ‘a dirty, filthy, disgusting word’, He has also stopped Don McGahn, a special counsel at the White House from testifying before Congress invoking ‘executive privilege’ — a doctrine designed to keep private the president’s consultations with his advisors. While not cited anywhere in the Constitution, the Supreme Court has held it to be ‘fundamental to the operation of government and inextricably rooted in the Separation of Powers under the Constitution.’ Separation of powers keeps apart the executive branch, the legislature and the judiciary, meaning each one cannot interfere with the other.
Nancy Pelosi is under increasing pressure from the young firebrands. Rep Alexandra Ocasio-Cortez has already expressed the view that it is time to open an impeachment inquiry against Trump given the obstruction of lawmakers’ oversight duty.
Speaker Pelosi is a long-time politician with political blood running through her veins — her father was Mayor of Baltimore and like herself also a US Representative. To her the situation as is, is quite appealing. Trump’s behavior fires up Democrats across the country and they respond by emptying their pockets to defeat the Republicans in 2020. Democratic coffers benefit so why harm this golden goose — a bogeyman they have an excellent chance of defeating — also evident from the numbers lining up to contest the Democratic presidential primaries, currently at 24.
Will Trump be impeached? Time will tell but at present it sure doesn’t look likely.
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