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The Revolution From Above

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Cross-posted from Paul Craig Roberts

Today the Western peoples are experiencing the destruction of their well being that is comparable to what the one percent in Rome imposed on Roman citizens and conquered peoples. Here is how John Williams, in his 9-12-12 Shadow Stats commentary, phrases the wipeout of Americans' hopes:

"Consumers simply cannot make ends meet. Inflation-adjusted, or real, median household income declined for the fourth-straight year, plunging to its lowest level since 1995. Deflated by the CPI-U, the 2011 reading actually stood below levels seen in the late-1960s and early-1970s.

"At the same time, despite the ongoing nature of the economic and systemic-solvency crises, and the effects of the 2008 financial panic, income dispersion -- the movement of income away from the middle towards both high- and low-level extremes -- has hit a record high, instead of moderating, as might be expected during periods of financial distress. Extremes in income dispersion usually foreshadow financial-market and economic calamities. With the current circumstance at a record extreme, and well above levels estimated to have prevailed before the 1929 stock-market crash and the Great Depression, increasingly difficult times are likely for the next several years."

This chart shows where the median household income of the US Superpower, the "indispensable people," stands at the culmination of 2011. Americans are as well off as they were in 1967-68. Most americans cannot pay for fighting multi-trillion dollar wars for 11 years, bailout trillions of dollars in uncovered casino bets by Wall Street, have their middle class jobs sent abroad by corporations, and still expect to have higher personal incomes.

Apparently, Americans are the first people in history who are so idealistic, or so thoroughly brainwashed, that they prefer to pay for wars and bail out banks than to make their mortgage payments and help their children with student loan debt.

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The federal court in Germany has ruled that Germans are to be just as idealistic as Americans. The federal court has produced a ruling that it is OK for the EU to require German citizens to provide $190 billion to pay off the private banks who lent too much money to Greece.

In exchange for paying off the banks for Greece, the Greek people are to be driven into poverty and hopelessness. Pensions are cut, taxes are raised, employment is cut, social services are curtailed, prices of utilities are raised. The Greek people are to be destroyed in order that the private European banks do not lose money on their bad loans.

In the West the Revolution From Above has succeeded. The peoples are re-enserfed. The promised land is a promised land for the one percent.

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Dr. Roberts was Assistant Secretary of the US Treasury for Economic Policy in the Reagan Administration. He was associate editor and columnist with the Wall Street Journal, columnist for Business Week and the Scripps Howard News Service. He is a contributing editor to Gerald Celente's Trends Journal. He has had numerous university appointments. His book, The Failure of Laissez Faire Capitalism and Economic Dissolution of the West is available here. His latest book,  How America Was Lost, has just been released and can be ordered here.

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As the bottom up revolution, set off by the intern... by Rob Kall on Thursday, Sep 13, 2012 at 1:07:29 PM
Thanks Rob. I feel such a sense of trepidation tod... by Elizabeth Hanson on Thursday, Sep 13, 2012 at 2:50:48 PM
But, understand that when 'The BenBernake' announc... by Paul Repstock on Thursday, Sep 13, 2012 at 8:03:49 PM
I'm glad PCR says "the West". The BRIC countries a... by Ernie Messerschmidt on Thursday, Sep 13, 2012 at 2:52:19 PM
It may come down to the middle class in the USA ne... by Rob Kall on Thursday, Sep 13, 2012 at 3:17:04 PM
When? In anchient Egypt.  The population su... by Cole Epstein on Thursday, Sep 13, 2012 at 4:11:25 PM
I agree Cole, we have bought into this paradigm fo... by Nancy S on Thursday, Sep 13, 2012 at 8:03:58 PM
I would like to get people to drop the veils from ... by j dial on Thursday, Sep 13, 2012 at 8:58:15 PM
I hear you J. Many are still sleeping. To my horro... by Nancy S on Thursday, Sep 13, 2012 at 9:19:46 PM
Hang in there J. Dial. Everyone will have eyes to ... by Elizabeth Hanson on Thursday, Sep 13, 2012 at 11:46:51 PM
"If George Bush were to be judged by the standards... by Ethan Hollow on Thursday, Sep 13, 2012 at 4:57:12 PM
Seems to me it has been this way since Columbus la... by Lester Shepherd on Thursday, Sep 13, 2012 at 6:49:24 PM
Very personal and touching comments here. But I'd ... by Jim Arnold on Friday, Sep 14, 2012 at 8:58:00 AM
I have been looking for something analogous in his... by Michael David Morrissey on Friday, Sep 14, 2012 at 9:47:57 AM
With the media controlled by corporate interests, ... by J.Patrick Hickey on Saturday, Sep 15, 2012 at 4:56:40 PM
Apparently, Americans are the first people in his... by Michael Dewey on Saturday, Sep 15, 2012 at 6:51:35 PM