Paul Craig Roberts: Yeah
Rob Kall: What's
that about?
Paul Craig Roberts: Well" many things. I'll just pick one of them. Umh, jobs offshoring. See this is
another reason we have no recovery here. Because umh the middle class jobs,
manufacturing jobs, professional service jobs like software engineering, IT,
any kind of job that can be done off site and sent in over the internet, these
jobs have all been moved offshore. So" when you move these jobs offshore, what
you're doing is you're moving what would have been domestic consumer income
offshore. It's no longer American, it goes to China or India or wherever. And
that means the gross domestic product, which would have been produced in the
United States instead is produced in China or India or wherever the jobs are
offshore to. And it means when they come back, when the goods and services come
back in the United States to be sold to Americans, they come in as imports, so
the trade deficit goes up. So you become more indebted" to foreigners. And the
effect of this" and of course all this is" is justified in the name of
globalism, but the effect is to de-industrialized first world economies and
turn them into third world economies. You can't have"
Rob Kall: [interjecting] DE industrialized?
Paul Craig Roberts: Yeah
Rob Kall: "DE'?
Paul Craig Roberts: Right.
Rob Kall: That's"
that's a term I haven't" I don't think I've heard before.
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