Here are a couple poignant youtubes with Max Keiser speaking with Paul Craig Roberts. A few highlights:
Paul: "I see them [Goldman and JP Morgan] though, it’s like a third world state where the crooks are inside government, and… any time there is trouble in a third world state, the bailouts always go to the crooks."
"We no longer have government of people, we have government of interest groups. There are a very few powerful interest groups and they pretty much run the country regardless of how people vote."
Max: "Is the US now a banana republic?"
Paul: "It’s close to it, it’s a failed state. The whole problem of the US being a failed state is that the dollar has served since WWII as international reserves, so when US fails it sort of makes the reserves of the world fail… and that produces a massive destruction of international trade…"
– Ilene
Max Keiser: On the Edge with Paul Craig Roberts
Courtesy of Prieur du Plessis’s Investment Postcards from Cape Town
In this edition of Max Keiser’s “On the Edge”, he discusses the management and state of the US economy, the outlook for the US dollar and other topical matters with Paul Craig Roberts, assistant Treasury Secretary in the Reagan administration, who earned fame as the “Father of Reaganomics“. He is a former editor and columnist for the Wall Street Journal, Business Week, and Scripps Howard News Service.
Keirser’s in-your-face presentation style may not be everybody’s cup of tea, but it certainly makes for thought-provoking viewing material.
Part 1:
Part 2:
Source: YouTube (here and here), October 23, 2009.
