Best of the Week
Most Popular
1. Stock Markets and the History Chart of the End of the World (With Presidential Cycles) - 28th Aug 20
2.Google, Apple, Amazon, Facebook... AI Tech Stocks Buying Levels and Valuations Q3 2020 - 31st Aug 20
3.The Inflation Mega-trend is Going Hyper! - 11th Sep 20
4.Is this the End of Capitalism? - 13th Sep 20
5.What's Driving Gold, Silver and What's Next? - 3rd Sep 20
6.QE4EVER! - 9th Sep 20
7.Gold Price Trend Forecast Analysis - Part1 - 7th Sep 20
8.The Fed May “Cause” The Next Stock Market Crash - 3rd Sep 20
9.Bitcoin Price Crash - You Will be Suprised What Happens Next - 7th Sep 20
10.NVIDIA Stock Price Soars on RTX 3000 Cornering the GPU Market for next 2 years! - 3rd Sep 20
Last 7 days
Eiro-group Review –The power of trading education - 4th Dec 20
Early Investors set to win big as FDA fast-tracks this ancient medicine - 3rd Dec 20
New PC System Switch On, Where's Windows 10 Licence Key? Overclockers UK OEM Review (5) - 3rd Dec 20
Poundland Budget Christmas Decorations Shopping 2020 to Beat the Corona Economic Depression - 3rd Dec 20
What is the right type of insurance for you, and how do you find it? - 3rd Dec 20
What Are the 3 Stocks That Will Benefit from Covid-19? - 3rd Dec 20
Gold & the USDX: Correlations - 2nd Dec 20
How An Ancient Medicine Is Taking On The $16 Trillion Pharmaceutical Industry - 2nd Dec 20
Amazon Black Friday vs Prime Day vs Cyber Monday, Which are Real or Fake Sales - 1st Dec 20
The No.1 Biotech Stock for 2021 - 1st Dec 20
Stocks Bears Last Chance Before Market Rally To SPX 4200 In 2021 - 1st Dec 20
Globalists Poised for a “Great Reset” – Any Role for Gold? - 1st Dec 20
How to Get FREE REAL Christmas Tree 2020! Easy DIY Money Saving - 1st Dec 20
The Truth About “6G” - 30th Nov 20
Ancient Aztec Secret Could Lead To A $6.9 Billion Biotech Breakthrough - 30th Nov 20
AMD Ryzen Zen 3 NO UK MSRP Stock - 5600x, 5800x, 5900x 5950x Selling at DOUBLE FAKE MSRP Prices - 29th Nov 20
Stock Market Short-term Decision Time - 29th Nov 20
Look at These 2 Big Warning Signs for the U.S. Economy - 29th Nov 20
Dow Stock Market Short-term and Long-term Trend Analysis - 28th Nov 20
How To Spot The End Of An Excess Market Trend Phase – Part II - 28th Nov 20
BLOCKCHAIN INVESTMENT PRIMER - 28th Nov 20
The Gold Stocks Correction is Maturing - 28th Nov 20
Biden and Yellen Pushed Gold Price Down to $1,800 - 28th Nov 20
Sheffield Christmas Lights 2020 - Peace Gardens vs 2019 and 2018 - 28th Nov 20
MUST WATCH Before You Waste Money on Buying A New PC Computer System - 27th Nov 20
Gold: Insurance for Prudent Investors, Precious Metals Reduce Risk & Preserve Wealth - 27th Nov 20
How To Spot The End Of An Excess Market Trend Phase - 27th Nov 20
Snow Falling Effect Christmas Lights Outdoor Projector Amazon Review - 27th Nov 20
4 Reasons Why You Shouldn't Put off Your Roof Repairs - 27th Nov 20
Further Clues Reveal Gold’s Weakness - 26th Nov 20
Fun Things to Do this Christmas - 26th Nov 20
Industries that Require Secure Messaging Apps - 26th Nov 20
Dow Stock Market Trend Analysis - 25th Nov 20
Amazon Black Friday Dell 32 Inch S3220DGF VA Curved Screen Gaming Monitor Bargain Deal! - 25th Nov 20
Biden the Silver Bull - 25th Nov 20
Inflation Warning to the Fed: Be Careful What You Wish For - 25th Nov 20
Financial Stocks Sector ETF Shows Unique Island Setup – What Next? - 25th Nov 20
Herd Immunity or Herd Insolvency: Which Will Affect Gold More? - 25th Nov 20
Stock Market SEASONAL TREND and ELECTION CYCLE - 24th Nov 20
Amazon Black Friday - Karcher K7 FC Pressure Washer Assembly and 1st Use - Is it Any Good? - 24th Nov 20
I Dislike Shallow People And Shallow Market Pullbacks - 24th Nov 20
Small Traders vs. Large Traders vs. Commercials: Who Is Right Most Often? - 24th Nov 20
10 Reasons You Should Trade With a Regulated Broker In UK - 24th Nov 20
Stock Market Elliott Wave Analysis - 23rd Nov 20
Evolution of the Fed - 23rd Nov 20
Gold and Silver Now and Then - A Comparison - 23rd Nov 20
Nasdaq NQ Has Stalled Above a 1.382 Fibonacci Expansion Range Three Times - 23rd Nov 20
Learn How To Trade Forex Successfully - 23rd Nov 20
Market 2020 vs 2016 and 2012 - 22nd Nov 20
Gold & Silver - Adapting Dynamic Learning Shows Possible Upside Price Rally - 22nd Nov 20
Stock Market Short-term Correction - 22nd Nov 20
Stock Market SPY/SPX Island Setups Warn Of A Potential Reversal In This Uptrend - 21st Nov 20
Why Budgies Make Great Pets for Kids - 21st Nov 20
How To Find The Best Dry Dog Food For Your Furry Best Friend?  - 21st Nov 20
The Key to a Successful LGBT Relationship is Matching by Preferences - 21st Nov 20
Stock Market Dow Long-term Trend Analysis - 20th Nov 20
Margin: How Stock Market Investors Are "Reaching for the Stars" - 20th Nov 20
World’s Largest Free-Trade Pact Inspiration for Global Economic Recovery - 20th Nov 20
Dating Sites Break all the Stereotypes About Distance - 20th Nov 20

Market Oracle FREE Newsletter

FIRST ACCESS to Nadeem Walayat’s Analysis and Trend Forecasts

The Transformation of the US into a Police State

Politics / US Politics Oct 15, 2011 - 10:55 AM GMT

By: Paul_Craig_Roberts

Politics

Best Financial Markets Analysis ArticlePat Buchanan’s latest book, Suicide of a Superpower, raises the question whether America will survive to 2025. The question might strike some readers as unduly pessimistic and others as optimistic. It is unclear whether the US, as we have known it, will survive its next presidential election.


Consider the candidates. Liberal law professor Jonathan Turley, who was likely to have been an early Obama supporter, now wonders if Obama is “the most disastrous president in our history.” Despite Obama’s failure, the Republicans can’t come up with anyone any better. One Republican candidate admires Alan Greenspan, the Federal Reserve chairman who gave us financial deregulation and the financial crisis. Another is ready for a preemptive strike on Iran. Yet another thinks the Soviet Union is a grave threat to the United States. None of these clueless dopes are capable of presiding over a government.

Anyone who has been paying attention knows that the “superpower” is over-extended financially and militarily. The US is currently involved in six conflicts with Syria, Lebanon, Iran, and Pakistan on the waiting list for full fledged military attacks and perhaps invasions. Russia is being encircled with missile bases, and war plans are being drawn up for China.

Where is the money going to come from when the country’s debt is bursting at the seams, the economy is in decline, and unemployment on the rise?

Washington thinks that the money can simply be printed. However, enough has already been printed that the rest of the world is already suspicious of the dollar and its role as reserve currency.

As John Williams has said, the world could begin dumping dollar assets at any time.

I don’t think we can dismiss Buchanan’s concern as pessimistic.

Buchanan documents his concern across a wide front. For example, the combination of mass immigration and its consequent demographics together with the “diversity cult” means the end of “white America” and the transformation of what once was the dominant population into a disadvantaged underclass.

Buchanan cites a Wall Street Journal article by Ron Unz published 12 years ago. Unz found that white American gentiles who would be considered Christian are dramatically under-represented in America’s elite universities, which provide the elites who dominate government, business, and the professions.

Unz reported that white Americans who comprised 70% of the US population made up only 25% of Harvard’s enrollment and that the composition of the student bodies at Yale Princeton Columbia, Berkeley, and Stanford was much the same.

Asians who comprised 3% of the US population comprised one-fifth of Harvard’s enrollment, and Jews, who comprised 2.5% of the population comprised between one-fourth and one-third of Harvard’s student body.

As Buchanan puts it, the country’s native-born majority has relegated its own progeny to the trash bin of history.

Buchanan doesn’t address the question whether the rest of the world will miss white America. Considering the endless wars and astounding hypocrisy and immorality associated with white America since the collapse of the Soviet Union two decades ago, the world is likely to cheer when power slips from the hands of what Leonard Jeffries termed the “ice people,” that is, people without souls or feelings for others. Americans are so wrapped up in the myth of their “exceptionalism” that they are oblivious to the world’s opinion. http://www.foreignpolicy.com/articles/2011/10/11/the_myth_of_american_exceptionalism

American soft power, once a foundation of US influence, has been squandered, another reason the “superpower” status is crumbling.

Financial deregulation and the consequent financial crisis, collapse of the real estate market, and evictions of millions of Americans from their homes have greatly dimmed America’s economic prospects. However, as Buchanan points out, the offshoring of US jobs and industry under the guise of “free trade” has damaged the middle class, halted the growth in consumer purchasing power and left many college graduates without careers.

In the first decade of the 21st century, the Bush/Cheney years, America lost one-third of its manufacturing jobs. During this decade, Michigan lost 48% of its manufacturing jobs, New Jersey lost 39%, and New York and Ohio lost 38%.

During this decade, the US incurred trade deficits totaling $6.2 trillion, of which $3.8 trillion is in manufactured goods. In other words, imports of manufactured goods are a larger cause of the trade deficit than oil imports. Early in the decade the US lost its trade surplus in advanced technology products. In recent years the US has run up $300 billion in trade deficits in advanced technology products with China alone. As Macy Block’s site, Economy in Crisis, documents, foreigners have used their huge dollar earnings to buy up American companies, with the consequence that foreign earnings on US investments now exceed US earnings abroad, thus worsening the current account deficit.

Although Buchanan makes many points, this is not his best book. He becomes lost in old arguments that no longer make sense, such as the claim that the poor vote away the property of the rich, and he ignores the destruction of the US Constitution in the name of “the war on terror,” which has transformed the US into a police state.

Conservatives are stuck in the canard that democracy is a tool used by the poor to provide themselves with benefits at the expense of the rich. Buchanan cites statistics of those on welfare, food stamps, Medicaid, and so on as evidence that the rich are being plundered. Yet, the facts are the opposite. The distribution of income has completely reversed since the 1960s.

In the 1960s, the top 1 percent received 11% of the income gains, and the bottom 90% received 65%, leaving 24% of income gains for the 9% of richest Americans just below the top 1%. In the first decade of the 21st century, these figures have reversed. The top 1% receive 65% of the income gains and the bottom 90% receive 12%, leaving 23% for those rich Americans in the 91-99 percentile.
http://www.cbpp.org/cms/index.cfm?fa=view&id=2908

If recent history (Yugoslavia, Soviet Empire) is a guide, Buchanan is probably correct that a country whose population consists of diverse ethnic and racial groups is less likely to share a common interest and enjoy political stability. However real this threat, it is not comparable to the threat to American identity of a destroyed Constitution.

The Bush/Cheney/Obama regimes have shredded the constitutional protections that gave American citizens their liberty. By dictate alone, the executive branch has acquired the power, prohibited by the Constitution, to incarcerate citizens indefinitely without presenting evidence and obtaining conviction. According to the US government, a secret executive branch panel now exists that has acquired from somewhere the unaccountable power to put citizens on a list to be assassinated without due process of law merely on the basis of an unproven government assertion. How does this differ from Stalinist Russia and Gestapo Germany?

The transformation of the US into a police state has been achieved quickly and with scant protest. Congress and the courts are silent. The media is silent, as are the law schools and bar associations. Out of 535 US Senators and Representatives, only Ron Paul has protested the destruction of liberty.

Buchanan is concerned that America might not survive until 2025. Instead, shouldn’t we be concerned that the American police state could last that long? Shouldn’t we be worried that the police state will survive yet another presidential election, or even one more day?

Paul Craig Roberts [ email him ] was Assistant Secretary of the Treasury during President Reagan's first term.  He was Associate Editor of the Wall Street Journal .  He has held numerous academic appointments, including the William E. Simon Chair, Center for Strategic and International Studies, Georgetown University, and Senior Research Fellow, Hoover Institution, Stanford University. He was awarded the Legion of Honor by French President Francois Mitterrand. He is the author of Supply-Side Revolution : An Insider's Account of Policymaking in Washington ; Alienation and the Soviet Economy and Meltdown: Inside the Soviet Economy , and is the co-author with Lawrence M. Stratton of The Tyranny of Good Intentions : How Prosecutors and Bureaucrats Are Trampling the Constitution in the Name of Justice . Click here for Peter Brimelow's Forbes Magazine interview with Roberts about the recent epidemic of prosecutorial misconduct.

© 2011 Copyright Paul Craig Roberts - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules