A Threat Greater Than Terrorism
By PAUL CRAIG ROBERTS
Delusion has settled over America. Washington cannot tell fact from fantasy. Neither can sycophantic media nor nothink economists.
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The reality is that an ignorant and blundering Bush administration has created a Shi'ite crescent from Iran to Lebanon that is revolutionizing the Middle East. The reality will not penetrate the Bush administration. Reality contradicts Bush fantasy and is "against us." Facts that don't support Bush fantasy are "liberal" and "anti-American." Truth is dismissed as anti-Bush propaganda.
It is America that has undergone regime change. The Bush administration constitutes a Jacobin revolution. Its fanatics have declared world war on political diversity. The first victim of Bush's "war on terror" is the Bill of Rights. In its place we have an incipient police state.
One might easily conclude that Bush is first among the deluded, but the more one observes economists' romance with outsourcing, the more one wonders if economists are not the most deluded of all.
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By turning domestic production into imports, outsourcing increases the trade deficit. America pays the import bill by turning over the ownership of her wealth, and the income streams that wealth produces, to foreigners. Thus, Americans not only lose jobs and careers but also the ownership of their companies, real estate, corporate and government bonds. The incomes from these lost assets pass from Americans to foreigners.
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http://www.counterpunch.com/roberts03212005.htmlPaul Craig Roberts was Assistant Secretary of the Treasury in the Reagan administration. He was Associate Editor of the Wall Street Journal editorial page and Contributing Editor of National Review. He is coauthor of The Tyranny of Good Intentions.He can be reached at: pcroberts@postmark.net