Sunday, November 8, 2015

"U.S. on Road to Third World:" An Essay by Paul Roberts

On my NPR-San Francisco radio program today, I read an essay by economist Paul Roberts that attempts to describe the true employment situation in the U.S. rather than merely report the soundbite, "Unemployment down to 5%."  

A caller asked me to post it on my blog. So HERE is the link.

1 comment:

Anonymous said...

Although I agree with some aspects of the assessment, Paul C. Roberts is being wholly disingenuous when he entirely discounts the roles that liberal federal government social mandates and crushing opposition to enterprise formation have had on the current state of the US economy. We have seen the greatest expansion of both of these during the current administration.

Some related contributory issues to the current situation include:
expansion of federal housing programs (a major cause of the last crash);
expansion of federal student aid (now standing at $1 trillion of liabilities);
the "Affordable Care" Act and its ludicrously poor implementation;
runaway, unenforced immigration;
unethically cozy relations between government finance regulators and certain banking institutions (see, for a recent example, the career of Timothy Geithner);
misbehavior of regulatory government agencies (including in recent news alone the IRS, EPA, BLM, FWS and VA);
ridiculously poor tax legislation (including FATCA) which has accelerated capital flight from our banana republic;
arbitrary federal law enforcement (including the militarization of non-military government entities, including the EPA);
and somewhat longer term, the unionization of government employees, which has ensured a highly partisan and mostly permanent federal government, mostly immune from responsibility for its own illegal actions.


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