Best of the Week
Most Popular
1. TESLA! Cathy Wood ARK Funds Bubble BURSTS! - 12th May 21
2.Stock Market Entering Early Summer Correction Trend Forecast - 10th May 21
3.GOLD GDX, HUI Stocks - Will Paradise Turn into a Dystopia? - 11th May 21
4.Crypto Bubble Bursts! Nicehash Suspends Coinbase Withdrawals, Bitcoin, Ethereum Bear Market Begins - 16th May 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.Cathy Wood Ark Invest Funds Bubble BURSTS! ARKK, ARKG, Tesla Entering Severe Bear Market - 13th May 21
7.Stock Market - Should You Be In Cash Right Now? - 17th May 21
8.Gold to Benefit from Mounting US Debt Pile - 14th May 21
9.Coronavius Covid-19 in Italy in August 2019! - 13th May 21
10.How to Invest in HIGH RISK Tech Stocks for 2021 and Beyond - Part 2 of 2 - 18th May 21
Last 7 days
Overclockers UK Custom Built PC 1 YEAR Use Review Verdict - Does it Still Work? - 16th Oct 21
Altonville Mine Tours Maze at Alton Towers Scarefest 2021 - 16th Oct 21
How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
The Only way to Crush Inflation (not stocks) - 14th Oct 21
Why "Losses Are the Norm" in the Stock Market - 14th Oct 21
Sub Species Castle Maze at Alton Towers Scarefest 2021 - 14th Oct 21
Which Wallet is Best for Storing NFTs? - 14th Oct 21
Ailing UK Pound Has Global Effects - 14th Oct 21
How to Get 6 Years Life Out of Your Overclocked PC System, Optimum GPU, CPU and MB Performance - 13th Oct 21
The Demand Shock of 2022 - 12th Oct 21
4 Reasons Why NFTs Could Be The Future - 12th Oct 21
Crimex Silver: Murder Most Foul - 12th Oct 21
Bitcoin Rockets In Preparation For Liftoff To $100,000 - 12th Oct 21
INTEL Tech Stock to the MOON! INTC 2000 vs 2021 Market Bubble WARNING - 11th Oct 21
AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
Stock Market Wall of Worry Meets NFPs - 11th Oct 21
Stock Market Intermediate Correction Continues - 11th Oct 21
China / US Stock Markets Divergence - 10th Oct 21
Can US Save Taiwan From China? Taiwan Strait Naval Battle - PLA vs 7th Fleet War Game Simulation - 10th Oct 21
Gold Price Outlook: The Inflation Chasm Between Europe and the US - 10th Oct 21
US Real Estate ETFs React To Rising Housing Market Mortgage Interest Rates - 10th Oct 21
US China War over Taiwan Simulation 2021, Invasion Forecast - Who Will Win? - 9th Oct 21
When Will the Fed Taper? - 9th Oct 21
Dancing with Ghouls and Ghosts at Alton Towers Scarefest 2021 - 9th Oct 21
Stock Market FOMO Going into Crash Season - 8th Oct 21
Scan Computers - Custom Build PC 6 Months Later, Reliability, Issues, Quality of Tech Support Review - 8th Oct 21
Gold and Silver: Your Financial Main Battle Tanks - 8th Oct 21
How to handle the “Twin Crises” Evergrande and Debt Ceiling Threatening Stocks - 8th Oct 21
Why a Peak in US Home Prices May Be Approaching - 8th Oct 21
Alton Towers Scarefest is BACK! Post Pandemic Frights Begin, What it's Like to Enter Scarefest 2021 - 8th Oct 21
AJ Bell vs II Interactive Investor - Which Platform is Best for Buying US FAANG Stocks UK Investing - 7th Oct 21
Gold: Evergrande Investors' Savior - 7th Oct 21
Here's What Really Sets Interest Rates (Not Central Banks) - 7th Oct 21
CISCO 2020 Dot com Bubble Stock vs 2021 Bubble Tech Stocks Warning Analysis - 6th Oct 21
Precious Metals Complex Searching for a Bottom - 6th Oct 21
FB, AMZN, NFLX, GOOG, AAPL and FANG+ '5 Waves' Speaks Volumes - 6th Oct 21
Budgies Flying Ability 10 Weeks After wings Clipped, Flight Feathers Cut Grow Back - 6th Oct 21
Why Silver Price Could Crash by 20%! - 5th Oct 21
Will China's Crackdown Send Bitcoin's Price Tumbling? - 5th Oct 21
Natural Gas News: Europe Lacks Supply, So It Turns to Asia - 5th Oct 21
Stock Market Correction: One More Spark to Light the Fire? - 5th Oct 21
Fractal Design Meshify S2, Best PC Case Review, Build Quality, Airflow etc. - 5th Oct 21
Chasing Value with Five More Biotech Stocks for the Long-run - 4th Oct 21
Gold’s Century - While stocks dominated headlines, gold quietly performed - 4th Oct 21
NASDAQ Stock Market Head-n-Shoulders Warns Of Market Weakness – Critical Topping Pattern - 4th Oct 21
US Dollar on plan, attended by the Gold/Silver ratio - 4th Oct 21
Aptorum Group - APM - High RIsk Biotech Stocks Buy, Sell, Hold Investing Analysis for the Long-run - 3rd Oct 21
US Close to Hitting the Debt Ceiling: Gold Doesn’t Care - 3rd Oct 21
Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
Original Oculus VR HeadSet Rift Dev Kit v1 Before Facebook Bought Oculus - 3rd Oct 21
Microsoft Stock Valuation 2021 vs 2000 Bubble - Buy Sell or Hold Invest Analysis - 1st Oct 21
How to profit off the Acquisition spree in Fintech Stocks - 1st Oct 21
�� Halloween 2021 TESCO Shopping Before the Next Big Panic Buying! �� - 1st Oct 2
The Guide to Building a Design Portfolio Online - 1st Oct 21
BioDelivery Sciences International - BDSI - High RIsk Biotech Stocks Buy, Sell, Hold Investing Analysis for the Long-run - 30th Sep 21
America’s Revolving-Door Politics Behind the Fall of US-Sino Ties - 30th Sep 21
Dovish to Hawkish Fed: Sounds Bearish for Gold - 30th Sep 21
Stock Market Gauntlet to the Fed - 30th Sep 21
Should you include ESG investments in your portfolio? - 30th Sep 21
Takeda - TAK - High RIsk Biotech Stocks Buy, Sell, Hold Investing Analysis for the Long-run - 29th Sep 21
Stock Market Wishing Away Inflation - 29th Sep 21
Why Workers Are NOT Returning to Work as Lockdown's End - Wage Slaves Rebellion - 29th Sep 21
UK Fuel PANIC! Fighting at the Petrol Pumps! As Lemmings Create a New Crisis - 29th Sep 21
Gold Could See Tapering as Soon as November! - 29th Sep 21

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Obamageddon, War as the Solution to Economic Depression

Politics / GeoPolitics Aug 12, 2009 - 12:55 AM GMT

By: Global_Research

Politics

Best Financial Markets Analysis ArticleJustin Raimondo writes: An American president is launching the most ambitious, the most expensive, and certainly the most dangerous military campaign since the Vietnam War – and the antiwar movement, such as it is, is missing in action. After a long and bloody campaign in Iraq and the election of a U.S. president pledged to get us out, our government is once again revving up its war machine and taking aim at yet another "terrorist" stronghold, this time in Afghanistan. Yet the antiwar movement’s motor seems stuck in the wrong gear, making no motions toward mounting anything like an effective protest. What gives?


We shouldn’t doubt the scope of the present war effort. Make no mistake: the Obama administration is radically ramping up the stakes in the "war on terrorism," which, though renamed, has not been revised downward, as the Washington Post reports:

"As the Obama administration expands U.S. involvement in Afghanistan, military experts are warning that the United States is taking on security and political commitments that will last at least a decade and a cost that will probably eclipse that of the Iraq war."

There are always "warnings" in the beginning, aren’t there? For some reason, however, they are never heeded. Instead, we just barrel ahead, undaunted, into the tall grass where ambush awaits us. War opponents predicted the Iraq invasion would prove unsustainable – and we were right. We said that, far from greeting us with cheers and showers of roses, the Iraqis would soon be shooting at us and demanding our ouster – and we were right. We said the rationale for war was based on a series of carefully manufactured and marketed lies – and that was the truth, now wasn’t it? Yet it seems we are caught in an endlessly repetitive nightmare, where the same prophetic voices are being drowned out by a chorus of "responsible" voices – to be followed by an all-too-familiar disaster.

The problem, however, is that the scale of these disasters seems to be increasing exponentially. As Gerald Celente, one of the few economic forecasters who predicted the ‘08 crash, put it the other day, "Governments seem to be emboldened by their failures." What the late Gen. William E. Odom trenchantly described as "the worst strategic disaster in American military history" – the invasion of Iraq – is being followed up by a far larger military operation, one that will burden us for many years to come. This certainly seems like evidence in support of the Celente thesis, and the man who predicted the 1987 stock market crash, the fall of the Soviet Union, the dot-com bust, the gold bull market, the 2001 recession, the real estate bubble, the “Panic of ‘08,” and now is talking about the inevitable popping of the "bailout bubble," has more bad news:

"Given the pattern of governments to parlay egregious failures into mega-failures, the classic trend they follow, when all else fails, is to take their nation to war."

As the economic crisis escalates and the debt-based central banking system shows it can no longer re-inflate the bubble by creating assets out of thin air, an economic and political rationale for war is easy to come by; for if the Keynesian doctrine that government spending is the only way to lift us out of an economic depression is true, then surely military expenditures are the quickest way to inject "life" into a failing system. This doesn’t work, economically, since the crisis is only masked by the wartime atmosphere of emergency and "temporary" privation. Politically, however, it is a lifesaver for our ruling elite, which is at pains to deflect blame away from itself and on to some "foreign" target.

It’s the oldest trick in the book, and it’s being played out right before our eyes, as the U.S. prepares to send even more troops to the Afghan front and is threatening Iran with draconian economic sanctions, a step or two away from outright war.

A looming economic depression and the horrific prospect of another major war – the worst-case scenario seems to be unfolding, like a recurring nightmare, and there doesn’t seem to be any way to stop it. Are we caught, then, helpless in the web of destiny, to be preyed upon by those spiders in Washington?

I have to admit that, at times, I’m inclined to believe it: the early years of the Bush era, particularly the dark days right after 9/11, were hard times for advocates of liberty and peace. For us here at Antiwar.com, they were days of nearly unrelieved gloom. As the Bush era drew to a close, however, there were many signs that we were in for a turnaround, that the dark ages were over and a new day was dawning. The Iraq war was discredited, along with its cheerleaders, and the collapse of the War Party’s political fortunes seemed all but assured with the rise of an insurgent movement within the Democratic Party, a movement that happened to coalesce around Barack Obama but could have rallied to any charismatic or even remotely appealing figure, so desperate were people for any sign of hope.

In the beginning, I was enamored of the possibilities of this electoral insurgency against the presumed nominee, Hillary Clinton. By stubbornly sticking to her pro-war position and refusing to second-guess her decision to support the invasion of Iraq, Hillary turned the primary campaign into a tug-of-war between the interventionist faction of the Democratic Party – centered in the leadership – and the antiwar rank-and-file, many of whom were beginning to develop a comprehensive critique of interventionist foreign policy and were well on their way to becoming principled opponents of imperialism.

Then Obama stepped into the picture.

I am not among those who are currently whining that Obama has somehow "betrayed" his antiwar supporters – prominent among them the organizers of the principal peace coalition, United for Peace and Justice. After all, he’s just doing what he said all along he’d do, and that is fight the "right war," which, he averred, we ought to be waging in Afghanistan rather than Iraq. At the end of this month, his generals will report to him on how many more troops they need to "do the job," and you can bet they won’t be calling for any reductions.

History has shown that Afghanistan is practically unconquerable, and we could send an army of a million or more and still fail miserably. But think how the endless expenditures will "stimulate" our economy!

Forecaster Celente has identified several bubbles, the latest being the "bailout bubble," slated to pop at any time, yet there may be another bubble to follow what Celente calls "the mother of all bubbles," one that will implode with a resounding crash heard ’round the world – the bubble of empire.

Our current foreign policy of global hegemonism and unbridled aggression is simply not sustainable, not when we are on the verge of becoming what we used to call a Third World country, one that is bankrupt and faces the prospect of a radical lowering of living standards. Unless, of course, the "crisis" atmosphere can be sustained almost indefinitely.

George W. Bush had 9/11 to fall back on, but that song is getting older every time they play it. Our new president needs to come up with an equivalent, one that will divert our attention away from Goldman Sachs and toward some overseas enemy who is somehow to be held responsible for our present predicament.

It is said that FDR’s New Deal didn’t get us out of the Great Depression, but World War II did. The truth is that, in wartime, when people are expected to sacrifice for the duration of the "emergency," economic problems are anesthetized out of existence by liberal doses of nationalist chest-beating and moral righteousness. Shortages and plunging living standards were masked by a wartime rationing system and greatly lowered expectations. And just as World War II inured us to the economic ravages wrought by our thieving elites, so World War III will provide plenty of cover for a virtual takeover of all industry by the government and the demonization of all political opposition as "terrorist."

An impossible science-fictional scenario? Or a reasonable projection of present trends? Celente, whose record of predictions is impressive, to say the least, sees war with Iran as the equivalent of World War III, with economic, social, and political consequences that will send what is left of our empire into a tailspin. This is the popping of the "hyperpower" bubble, the conceit that we – the last superpower left standing – will somehow defy history and common sense and avoid the fate of all empires: decline and fall.

We are in for some "interesting" times, and, these days, I know you won’t want to be without Antiwar.com, which is going to be more essential than ever before. However, we can’t guarantee our continued survival – in fact, I can predict our imminent demise – if we fail to enjoy your continued financial support. You’ll notice that we are now embarked on our summer fundraising campaign, and, let me tell you, summers are always the worst. Everyone who can afford to give is off on vacation, and these are difficult times, to boot. I have the feeling this one is going to be a long, hard slog, but I’d love to be pleasantly surprised. So, please, surprise me.

The prospects of a major war just over the horizon are increasing by the hour, yet we haven’t heard much in the way of protest from the formerly "antiwar" liberal-progressive community, or, at least, not from their institutions and leaders, who are getting in line behind the Obama administration and are afraid to rock the boat

Antiwar.com

Justin Raimondo is a frequent contributor to Global Research.  Global Research Articles by Justin Raimondo

© Copyright Justin Raimondo , Global Research, 2009

Disclaimer: The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of the Centre for Research on Globalization. The contents of this article are of sole responsibility of the author(s). The Centre for Research on Globalization will not be responsible or liable for any inaccurate or incorrect statements contained in this article.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Comments

Dan
19 Aug 09, 10:51
War and the economy

The idea that "war is good for an economy" is one held largely by Americans. Presumably because of the prosperity enjoyed in the United States following World War II. A better conclusion would be that an economy benefits when the infrastructure of its competitor countries is smashed to bits.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in