Paul Craig Roberts
Oct 19, 2012
In the guest section there is a new contribution by Dr. Robert S. Dotson. He points out that Obamneycare is two versions of the same thing. A person has to be gullible and uninformed to believe the claims of Obama and Romney that their replacements for Medicare will save money and improve care. What the schemes do is convert public monies into private profits.
The exploding costs [...]
Let’s have a thought experiment.
Translate your circumstances. You are a Greek citizen. You work in Greece, your family is in Greece, most of your contacts are in Greece. What are your thoughts? What are you doing today? Are you one of the people who has taken your money out of the banks? What are your plans – especially if you cannot leave.
Or, come from the point of view of someone giving advice [...]
According to Ben White at POLITICO, S&P is privately warning of a pre-default downgrade:
GAME CHANGER: S&P WARNS OF PRE-DEFAULT DOWNGRADE – S&P’s John Chambers, in a private meeting with top Senate Democrats and officials from the Chamber of Commerce and Financial Services Forum, said the U.S. may face a credit downgrade EVEN IF Treasury manages to keep making interest payments by taking money from other programs, [...]