[Sixstrings]

Ran across a great interview. Nothing really new, I've posted Dr. Robert's articles before.. but for anyone not familiar with his viewpoint these videos offer a concise overview.

Basically, the economy is permanently screwed. Max Keiser points out that a nation cannot innovate if it doesn't actually make things in the first place. Roberts reminds us that all the new jobs created in the 21st Century were domestic service jobs -- retail work, burger flipping, nurses and orderlies, and construction (until that went belly-up). The only reason living standards didn't decline sooner was because these low service sector wages were masked with easy credit and the home equity ATM game. With that gone, it's game over -- we can no longer mask the fact that we have a hollowed-out, offshored economy.

The conventional wisdom is that innovation will save us, but again you can't innovate if you don't manufacture. The entire supply chain has gravitated to China, and that's where the R&D will happen in the future. That's where the new ideas will come from, the place where the production supply chain is located.

There are solutions to our dilemma, but of course they will never happen because the global corporations very much like the new paradigm they've invested so much time and money in. The upshot to all this is that we now have high unemployment built into the system -- it will last for decades.

Here's the interview, 3 parts:

Press TV-On the edge with Max Keiser-Max Keiser talking to Paul Craig Roberts-07-16-2010(Part1)
http://www.youtube.com/watch?v=rVUVQMUtsM0&feature=player_embedded

Press TV-On the edge with Max Keiser-Max Keiser talking to Paul Craig Roberts-07-16-2010(Part2)
http://www.youtube.com/watch?v=eiYZHpKFTVc&feature=related

Press TV-On the edge with Max Keiser-Max Keiser talking to Paul Craig Roberts-07-16-2010(Part3)
http://www.youtube.com/watch?v=GeeePaoMPQI&feature=related

[Plantagenet]

There are certain technologies where the US has the edge, but the current administration seems determined to kill off those parts of the US economy.

Take space----the Obama administration has killed the US astronaut program and all of the rocketry, engineering, technical, medical and scientific innovations that such a program brings. We were world leaders prior to Obama---now he's killed the program.

Take offshore oil drilling----the US INVENTED offshore oil drilling, and has a huge lead in robotics, seismic imaging, downhole logging, and many other high tech aspects of this industry. However, because a CHINESE BOP didn't work, Obama is shutting down the whole US offshore drilling industry----its going to kill the whole thing if it goes on too long.

The US is NEVER going to be able to make shoes cheaper then the chinese----we have to stay competitive in high tech skills----not kill them off as this administration is doing.

[americandream]

BP went to China for the BOP. A private company if you don't know the difference. NOT government which, if properly configured, can mitigate a lopsided global economic order to a degree. But no! You free racketeers pushed, cajoled and Ayn Randed for an open economy. So you bloody well take the shit that comes with it and quit passing the blame.

There are certain technologies where the US has the edge, but the current administration seems determined to kill off those parts of the US economy.

Take space----the Obama administration has killed the US astronaut program and all of the rocketry, engineering, technical, medical and scientific innovations that such a program brings. We were world leaders prior to Obama---now he's killed the program.

Take offshore oil drilling----the US INVENTED offshore oil drilling, and has a huge lead in robotics, seismic imaging, downhole logging, and many other high tech aspects of this industry. However, because a CHINESE BOP didn't work, Obama is shutting down the whole US offshore drilling industry----its going to kill the whole thing if it goes on too long.

The US is NEVER going to be able to make shoes cheaper then the chinese----we have to stay competitive in high tech skills----not kill them off as this administration is doing.