• 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.

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

    Exerpt:
    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”ôs 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”ôs economic life.

    By Chalmers Johnson

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

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