DR. PAUL CRAIG ROBERTS: The US economy died when middle class jobs were offshored and when the financial system was deregulated.
Jobs offshoring benefitted Wall Street, corporate executives, and
shareholders, because lower labor and compliance costs resulted in
higher profits. These profits flowed through to shareholders in the form
of capital gains and to executives in the form of “performance
bonuses.” Wall Street benefitted from the bull market generated by
higher profits.
