They Haven’t a Dollar to Save

March 4, 2006

Paul Craig Roberts, an assistant Treasury secretary during the Reagan administration, is quickly becoming one of my favorite sources on issues of economics. Here he explains why the economy can be so bad while the news about the economy can be so “good”. Turns out the media is paid to report good news no matter what the truth might be. Interestingly, Roberts also says that questioning the “gaping holes” in the 9/11 Commission Report is “impermissible”, making him one of the few mainstream columnists to call bullshit on the Bush administration’s explanations of 9/11.

[Postscript: Roberts’ article says: “Offshore outsourcing has turned US production into imports. Americans are now dependent on offshore production for their clothes, manufactured goods and advanced technology products.” Today, I took a little closer look at the clothes I was wearing and learned the extent of this problem. Rockport shoes: made in China. Levi’s: made in Lesotho. Hanes boxers: Honduras. Hanes undershirt: Dominican Republic. Van Huesen shirt: Thailand. Belt: China. The only exception was the wool scarf I bought from Made in the USA. (Okay, so I was dressed for work when I checked the labels on all this stuff.)]


One Response to “They Haven’t a Dollar to Save”

  1. Jim Says:

    Just passign by. Nice blog spent some time and agree with alot :). Happy new year

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