Sun 10 Feb 2008
Why the US has really gone broke
Posted by k under Civil Liberties , Democracy , Finance , Globalization/Empire1 Comment
By Chalmers Johnson Le Monde Diplomatique February 2008
Global confidence in the US economy has reached zero, as was proved by last month’s stock market meltdown. But there is an enormous anomaly in the US economy above and beyond the subprime mortgage crisis, the housing bubble and the prospect of recession: 60 years of misallocation of resources, and borrowings, to the establishment and maintenance of a military-industrial complex as the basis of the nation’s economic life (more…)
February 10th, 2008 at 3:56 pm
I am a 2 tour Vietnam Veteran who recently retired after 36 years of working in the Defense Industrial Complex on many of the weapons systems being used by our forces as we speak.
Politicians make no difference.
We have bought into the Military Industrial Complex (MIC). If you would like to read how this happens please see:
http://www.vanityfair.com/politics/features/2007/03/spyagency200703
http://www.vanityfair.com/politics/features/2007/11/halliburton200711
Through a combination of public apathy and threats by the MIC we have let the SYSTEM get too large. It is now a SYSTEMIC problem and the SYSTEM is out of control. Government and industry are merging and that is very dangerous.
There is no conspiracy. The SYSTEM has gotten so big that those who make it up and run it day to day in industry and government simply are perpetuating their existance.
The politicians rely on them for details and recommendations because they cannot possibly grasp the nuances of the environment and the BIG SYSTEM.
So, the system has to go bust and then be re-scaled, fixed and re-designed to run efficiently and prudently, just like any other big machine that runs poorly or becomes obsolete or dangerous.
This situation will right itself through trauma. I see a government ENRON on the horizon, with an associated house cleaning.
The next president will come and go along with his appointees and politicos. The event to watch is the collapse of the MIC.
For more details see:
http://rosecoveredglasses.blogspot.com