The Iraq war crash

AntiWar.Com
by Justin Raimondo

03/02/07

The Chinese panic is being diagnosed as the ’cause’ of our own apparent meltdown, but this mistakes the symptoms for the underlying disease. The name of our affliction is debt, and that burden has increased by over 30 percent since our venture into empire-building was launched. The Chinese are — or, have been — buying that debt, but the bursting of the Shanghai bubble could soon cut off that supply of income — and then where would we get the money to pay for the biggest military build-up in world history? Bush is demanding $716 billion for his ‘defense’ budget, which, as one news report described it, is ‘greater than the annual gross domestic product of all but 14 countries.’ He’ll get that, and more: the Democrats, for all their ‘antiwar’ pretensions, fault this administration for not having a large enough military...

//www.antiwar.com/justin/?articleid=10610


Informant: Thomas L. Knapp



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