Economy A Hoax & House Of Cards-Paul Craig Roberts

Youtube ^ | September 22, 2016 | Paul Craig Roberts

[Right-wing Librarian]

"With around 94 million people out of the workforce, and the near record low Labor Force Participation rate, former Assistant Treasury Secretary Dr. Paul Craig Roberts says, “The Labor Force Participation rate never falls during a recovery. It rises because people are entering the labor force to take advantage of the strong economy and jobs. So, there isn’t any economy.

There is a house of cards that is held together by central bank money creation. The money flows into financial assets. That’s what keeps the stock market up, and it flows into bonds, which is why we have essentially 0% interest rates. . . .

So, the economy is essentially a hoax.”

Join Greg Hunter as he goes One-on-One with economic expert and award winning journalist Dr. Paul Craig Roberts."

[Alberta's Child]

All valid points, but keep in mind that the "net drain" you describe for illegal aliens keeps a lot of American citizens employed no matter how frugally these immigrants live. Think of police officers and school teachers, for example. And look at the case of that mutant who was just arrested for the bombing attacks in New York and New Jersey last week ... his family ran a fried chicken restaurant in some sh!t-hole in New Jersey where the place would be almost vacant if it weren't for immigrants who thought that sh!t-hole was a real step up for them.

And since our government is effectively bankrupt, even the "drain" you describe is being financed largely through cheap loans from creditors anyway.

We are like a farmer who has 4,000 acres of land but can't run his farm profitably. He figures he can get by for the last 40 years of his life by selling off 100 acres of land every year just to cover his operating expenses. He'll do OK, but there won't be any farm left by the time he dies.

[Paul R.]

Oh, I would add that MANY millions of families have limited the number of children they had, to one (usually) or two (occasionally) by means other than abortion.

For example, my wife and I originally intended to have 2 kids, and adopt another. Instead, we stopped at 1. Why? Financial pressure. When I talk to the guys at church, other friends, etc., the story is the much same in almost every case, varying mostly on whether the decision to have a small family was made at the outset, or later.

[Alberta's Child]

I'm talking about our capacity to produce, period -- whether the production is in Asia, Latin America, or right here in the U.S.

How many more 'effing Fords, iPhones, and sofas can anyone expect to sell in a country where even people living in poverty have these things?

[Tammy8]

Whatever amount of money is sent to another country is money not spent here.

All illegals need to be booted out, if we need legal immigrants that is a different story. I am not convinced we need as many as we are told we need.

[Alberta's Child]

It doesn’t get sent there and disappear. You can’t eat U.S. dollars, so they have to be exchanged for another currency (in which case they come back here anyway) or used to purchase something that is bought and sold using U.S. dollars. The dollars eventually come back here, one way or another.

[Tammy8]

The money sent to other countries is not spent in stores here, not keeping more Americans employed. Exchanging American money for other currency does what exactly for our economy?

Explain to me how large sums of money wired to Mexico helps our economy? If it is wired close to the border some may trickle back if the family shops here. When you hear of the large sums sent to Mexico every year most is sent too far down to be spent here. Those with family close to the border can shuffle money to their family without wiring it.

[Toddsterpatriot]

And there is really no way to deal with it other than by importing tens of millions of new people who will be dumb enough to come here and take on their $60,000 debt to support the fading, declining Baby Boomers.

That only works if the people are skilled, high earners.

Here in Illinois, we spend at least $11,000 a year to "educate" each illegal alien kid. Those guys working under the table aren't covering that with their sales taxes.

That's another reason the Chicago (and Illinois) pensions systems are in such a huge hole.

If you're expecting these guys, or their kids, to cover your Social Security checks in a few years, you're gonna be disappointed.

[Alberta's Child]

True, but public schools are basically employment programs for many people who are marginally employable but somehow get paid like they are professionals. If the education establishment could figure out a way to do it, they’d have 50 teachers employed in a school with no students.

[Toddsterpatriot]

Illegals allow them to hire many more marginally employable union members, without providing any tax revenues to pay for them.

Not many of the children of these illegals, once they cycle through the Chicago Public Schools, are going to actually contribute any net tax revenue either.