Opinion (Paul Craig Roberts, American economist and columnist for Creators Syndicate): “According to the official economic fairy tale, the US economy has been in recovery since June 2009. This fairy tale supports America’s image as the safe haven, an image that keeps the dollar up, the stock market up, and interest rates down. It is an image that causes the massive numbers of unemployed Americans to blame themselves and not the mishandled economy. Industrial production, properly deflated, remains well below the pre-recession level.
“Economists it appears, have simply vanished from the earth. Or, if some are still present, they have lost their voices and do not speak.
“Consider ‘globalism.’ Every country has been convinced that globalism is imperative and that not to be part of the ‘global economy’ means economic death. In fact, to be part of the global economy means death.
“Understand the economic destruction that globalism has wreaked on the United States. Millions of middle class factory jobs and professional skill jobs such as software engineering and Information Technology have been taken away from the American middle class and given to people in Asia. In the short-run this drops labor costs and benefits the profits of the US corporations that offshore the jobs, but the consequence is to destroy the domestic consumer market as jobs that permit the formation of households are replaced with lowly paid part-time jobs that do not.
“When manufacturing jobs are offshored, the US plants are closed, and the tax base of state and local governments declines. When the governments have trouble servicing their accumulated debt, the tendency is not to meet their pension obligations. This reduces retiree incomes, incomes already reduced by zero or negative interest rates.
“If households cannot form, the demand for housing, home appliances and furnishings declines. College graduates return home to live with their parents.
“Part-time jobs hurt the ability to save. People are only able to purchase cars because they can get 100 percent financing, and more in order to pay off an existing car loan that exceeds the vehicle’s trade-in value, in a six-year loan.
“This unraveling of consumer demand, the basis for our economy, was entirely obvious at the very beginning. Yet junk economists or hired corporate mouthpieces promised Americans a ‘New Economy’ that would provide them with better, higher paying, cleaner jobs to take the place of the jobs moved abroad. As I have pointed out for more than a decade, there is no sign of these jobs anywhere in the economy.
“Globalism, like neoliberal economics, is an instrument of economic imperialism. Labor is exploited, while peoples, cultures, and environments are destroyed. Yet the propaganda is so powerful that people partake of their own destruction.”
My Comment: Egoism is invincible! The Book of Zohar says that we are being prepared for the poison on the end of the blade that the angel of death brings to the mouth, and the unfortunate human being has no other option but to open his mouth and swallow the drop of poison.
After all, he feels pleasure in it and only afterward—death! Only by the influence of the Upper Light can we bring about its correction. This is what the wisdom of Kabbalah explains to us.