United States

Dear Friends and Supporters, this is my quarterly call for your financial support. There is no one who will write for you more frankly and truthfully than I do. This article is long. Read it. Twice, three times. You will learn an important part of your history that has been cast into the Memory Hole. You will learn the nature of the danger that we as a people face. And you will learn a lot about yourselves. PCR

Whatever Happened to America?

Paul Craig Roberts

Over the course of my lifetime America has become an infantile country.

Before a forecast tropical storm, residents of a coastal floodplain keep one eye trained on the weather as they go about their daily business.  

Wary investors keep an eye out for potential political, geopolitical, as well as natural disasters.

Homeowners on the Gulf of Mexico take precautions against the potential for wind and water damage, as do market-minders seek indemnity from inflation and recession, up and down markets, changing tax policy, and potential for catastrophe. 

In the ongoing game of escalating verbal ping-pong, North Korea responded on Monday to the latest condemnation by the UN Security Council which responded to Pyongyang Friday missile launch with a harsly worded verbal rebuke, and warned that the more sanctions pursued by the US and its allies, "will only increase our pace towards the ultimate completion of the state nuclear force,” KCNA reported, citing ministry of foreign affairs.

A day after US ambassador to the United Nations Nikki Haley admitted that with the latest round of sanctions the Security Council has just about reached the limits of China’s and Russia’s tolerance – and that the US will now need to explore other diplomatic, and possibly military, options, US forces joined with their South Korea counterparts for another "show of strength" meant for North Korea.

Last week's bullish sentiment that sent the S&P not only to a new all time highs, but a burst of last-second buying pushed above 2,500 for the first time ever, has carried through to the new week, with European and Asian shares rallying across the board, US futures again the green, and world stocks hitting a new record high on Monday ahead of a historic Fed meeting in which the FOMC is expected to announce the start of the shrinkage of its balance sheet.