• 18 APR 08
    • 0

    #874: Off Topic: Military Keynesianism

    Although my evenings are now taken up with other writings (that is why there are so few messages on this list) the following off-topic message on the roots of the current US financial malady is well worth a read, especially if you think the subprime mortgage crisis has anything to do with it.


    Link: http://mondediplo.com/2008/02/05military

    The economic disaster that is military keynesianism: Why the US has really gone broke
    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.

    By Chalmers Johnson

    Full article at: http://mondediplo.com/2008/02/05military

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