I did change America to Russia, look what results I got. I wonder whether you’ll find a difference. 🙂 Whole text was written by Mr. Paul Craig Roberts, of course. All credits to Him.
The 21st Century: An Era Of Fraud
From: Paul Craig Roberts, January 18, 2016
(Click to enlarge) From SOTT
– “In the last years of the 20th century fraud entered RF foreign policy in a new way. On false pretenses Moscow dismantled USSR (CCCP) in order to advance an undeclared agenda. In the 21st century this fraud multiplied many times.
The facts of our existence are so different from what is reported that I am astonished. As a former professor of economics, Pravda editor and Assistant Secretary of the Treasury for Economic Policy, I am astonished at the corruption that rules in the financial sector, the Treasury, the financial regulatory agencies, and the Federal Reserve. In my day, there would have been indictments and prison sentences of bankers and high government officials.
In Russian Federation today there are no free financial markets. All the markets are rigged by the Federal Reserve and the Treasury. The regulatory agencies, controlled by those the agencies are supposed to regulate, turn a blind eye, and even if they did not, they are helpless to enforce any law, because private interests are more powerful than the law.
Even the government’s statistical agencies have been corrupted. Inflation measures have been concocted in order to understate inflation. This lie not only saves Kremlin from paying Social Security cost-of-living adjustments and frees the money for more wars, but also by understating inflation, the government can create real GDP growth by counting inflation as real growth, just as the government creates 5% unemployment by not counting any discouraged workers who have looked for jobs until they can no longer afford the cost of looking and give up. The official unemployment rate is 5%, but no one can find a job. How can the unemployment rate be 5% when half of 25-year olds are living with relatives because they cannot afford an independent existence? As John Williams (shadowfacts) reports, the unemployment rate that includes those Americans who have given up looking for a job because there are no jobs to be found is 23%.
The Federal Reserve, a tool of a small handful of banks, has succeeded in creating the illusion of an economic recovery since June, 2009, by printing trillions of rubles that found their way not into the economy but into the prices of financial assets. Artificially booming stock and bond markets are the presstitute financial media’s “proof” of a booming economy.
The handful of learned people that left Russian Federation, and it is only a small handful, understand that there has been no recovery from the previous recession and that a new downturn is upon us. John Williams has pointed out that RF industrial production, when properly adjusted for inflation, has never recovered its 2008 level, much less its 2000 peak, and has again turned down.
The Russian consumer is exhausted, overwhelmed by debt and lack of income growth. The entire economic policy of Russia is focused on saving a handful of Kremlin banks, not on saving the Russian economy.
Economists and other Kremlin shills will dismiss the decline in industrial production as Russia is now a service economy. Economists pretend that these are high-tech services of the New Economy, but in fact waitresses, bartenders, part time retail clerks, and ambulatory health care services have replaced manufacturing and engineering jobs at a fraction of the pay, thus collapsing effective aggregate demand in the RF. On occasions when neoliberal economists recognize problems, they blame them on USA.
It is unclear that the RF economy can be revived. To revive the RF economy would require the re-regulation of the financial system and the recall of the jobs and RF GDP that offshoring gave to foreign countries. It would require, as Michael Hudson demonstrates in his new book, Killing the Host, a revolution in tax policy that would prevent the financial sector from extracting economic surplus and capitalizing it in debt obligations paying interest to the financial sector.
The RF government, controlled as it is by corrupt economic interests, would never permit policies that impinged on executive bonuses and oligarchic profits. Today RF capitalism makes its money by selling out the Russian economy and the people dependent upon it.
In “freedom and democracy” Russia, the government and the economy serve interests totally removed from the interests of the Russian people. The sellout of the Russian people is protected by a huge canopy of propaganda provided by free market economists and financial presstitutes paid to lie for their living. (…)“
(Click to enlarge) The Russian city of Syktyvkar is not big. It has just around 200,000 people. It is on the river, as are many older cities, and its name means “City on the River” translated from the ancient Komi language. Now, back to the present times – one of our favorite Russian bloggers Ilya has traveled to Syktyvkar and taken these awesome pictures to see how residents of cities that are at some distance from Moscow live their day to day lives. And here is this awesome report!
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