There can never be a sustained longterm reversal until as a nation the United States abandons the concept that Military Keynesianism is a valid substitute for real investment and stops pouring its GNP into the black hole that is the Military Industrial Complex.
As a nation, it is imperative we abandon the self-deception that we were granted a divine right to intervene wherever we see fit and create by force Mini Me Americas.
Andrew Bacevich supports this view when he says, "Rather than becoming better at waging imperial wars, we need to move to a non-imperial foreign policy. That argument is not a moral argument—although you could make a moral argument—but a pragmatic one, that the prospect of more such wars is going to bankrupt us."
If anyone wants to find the root cause of the secular bear market, he needs look no further than the rise of The American Empire, disguised by the false morality of belief that exceptionalism granted rights of interventionism.
Empire is not a force for good; it is a force for conquest; and the vanquished must be looted to support the cost of victory.
Posted by: Winston Munn | Oct 15, 2008 8:43:32 PM