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The American De-Industrialization and Poverty


Herland Report: The American De-Industrialization: As I recently wrote, the US no longer has an economy.  America is a market for goods produced offshore with foreign labor that US global corporations sell to Americans.  

The US which once produced its own manufactured goods and food now imports much of it.  The result is that fewer and fewer American incomes are based in the production of goods and services consumed by Americans.  

This is the path of de-industrialization and poverty, writes Dr. Paul Craig Roberts, chairman of The Institute for Political Economy and former associate editor of the Wall Street Journal.

Not only does America no longer have an economy, it no longer seems to have any economic statistics or ones that make much sense.  

For example, allegedly inflation is at 9 percent annually, but gold and silver prices have fallen, with gold down about $250 an ounce and silver down about $6 an ounce. Percentage wise, these are large declines.  

Inflation is known to erode the value of paper fiat money, but the US dollar is up against the Euro and other currencies, and inflation is eroding the value of real money–gold and silver. 


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The American De-Industrialization: According to the Annenberg Public Policy Center, the economy has regained 9 million of the lost lockdown jobs, dropping unemployment to 3.6%.  With about 2 job openings for every person seeking a job, we are at full employment.  

Wages have risen strongly but by less than inflation, so real earnings are declining but corporate profits are high.

There are slight decreases in the number of people without health insurance and in the number receiving benefits from the Supplemental Nutrition Assistance Program.  So there are signs that things are improving. 




The American De-Industrialization: But despite full employment and high profits, consumer confidence in the economy has reached the lowest point on record. 

Perhaps the explanation is high gasoline prices.  Perhaps it is the vast numbers of illegal aliens the Democrats have invited into the country.  

Perhaps it is the decline in the stock market and pension accumulations. Perhaps it is fear of higher interest rates which will further reduce the values of pensions and real estate assets.  Perhaps it is the billions of dollars the Biden regime is throwing into the war in Ukraine.

Perhaps it is the attempt by the Democrats and a corrupt Department of Justice (sic) to criminalize Trump, his supporters,  and the Republican Party.

Perhaps it is the rise of virulent anti-Americanism in school boards and universities.  Perhaps it is the growing realization of the Covid vaccination deception which is arousing anxieties among the vaccinated.  

Whatever is the cause, it is nevertheless strange that inflation is causing the paper dollar to rise and gold to fall, and that full employment has brought the lowest consumer confidence on record.  Perhaps the answer is that the numbers we are given are wrong and are serving some other secret agenda that is being fostered on us.

Clearly in the Western world confidence in government is collapsing. The British prime minister has had to resign and also the Italian one.

Not even the Democrats will permit Biden to run for reelection. Many Western countries have governments comprised of coalitions in which the president or prime minister’s party only has 30% support.  In other words, it is becoming obvious even to the insouciant that there is no leadership in the West. 

Indeed, leadership is not possible. A leader would have to correct the situation, and that is against the interest of the established institutionalized interests.  

The American De-Industrialization: Wherever Western peoples look, they see their culture under attack and truth disregarded.  Corruption rules everywhere, even in the American Board of Internal Medicine which has decided to strip Dr. Peter McCullough of his board certification because he cured Covid patients with Ivermectin.  For curing patients, the ABIM accuses Dr. McCullough, one of the most respected and accomplished doctors in the world, of “spreading misinformation.”  

The ABIM has taken the position of Fauci and his corrupt colleagues at NIH and CDC that it is misinformation to say that there is a cure. You see, the only way the untested “vaccine” could get into mass use was on the basis that there was no known cure.

This, of course, was an intentional lie. There were two known cures–Ivermectin with zinc and HCQ with zinc.  For proving beyond all doubt that Fauci, the CDC, FDA, and WHO were liars for Big Pharma profits, the corrupt ABIM, also a liar for Big Pharma profits, has to punish Dr. McCullough. 

What the US medical system is doing to Dr. McCullough is identical to what Soviet Authorities did to Russian genetics by declaring scientific genetics to be misinformation — “a bourgeois pseudoscience” — and imprisoning, firing, or executing 3,000 scientists who stood up for the truth. Science was replaced by Lysenkoism, and Soviet grain yields collapsed.

The same thing is now happening to American medicine. There is an effort underway to discredit and disqualify the thousands of doctors and medical scientists who have opposed the Covid protocol that served only Big Pharma’s profits at the expense of the lives and health of millions of people.

There has now been research published in Sweden that found that the mRNA “vaccines” do change the vaccinated person’s DNA. 

 If this finding is confirmed by other independent scientists, will science be strong enough to stand against Fauci, the whore Western media, and the bought-and-paid-for “scientists” of Big Pharma, or will American medical science suffer the fate of Soviet geneticists? 


About the author

Dr. Paul Craig Roberts is the chairman of The Institute for Political Economy, former associate editor of the Wall Street Journal, and a well known author of many books. He is also a regular contributor to the Herland Report news site as well as The Herland Report TV interviews on YouTube. He has had careers in scholarship and academia, journalism, public service, and business. He has been awarded the Treasury Department’s Meritorious Service Award for “his outstanding contributions to the formulation of United States economic policy.”
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