Paul Craig Roberts: What economy? There’s nothing left
By Paul Craig Roberts
Counterpunch
Thursday, July 16, 2009
http://www.counterpunch.org/roberts07162009.html
There is no economy left to recover. The U.S. manufacturing economy was lost to offshoring and free trade ideology. It was replaced by a mythical “New Economy.”
The “New Economy” was based on services. Its artificial life was fed by the Federal Reserve’s artificially low interest rates, which produced a [...]