Economics 101:
Paul Krugman addressed the comparison of the American and European economies yesterday on the Op-Ed page of The New York Times, pointing out that Republican criticism of the EU is mostly hokum and relies on the average American's ignorance of anything outside his or her immediate environment. But like almost everyone, he failed to mention military spending. Check the numbers, America spends far more on military might than the rest of the world combined. And absolutely no one follows the money trail. The flat truth of the matter is that no one in the public sphere either knows or is willing to tell us where all of that military money ends up.
We are told that this coming year, America will spend over $600 billion on our military. Still think Ron Paul with his notions of massively downsizing our military has a chance to win the Republican nomination? Think again. The military/industrial complex is still our biggest industry. Why else would our politicians be forever manufacturing enemies abroad and at home?
When you start examining the recovery of Japan and Europe after World War II, one major factor becomes eminently apparent: they saved tons of money from the shear fact that they no longer needed to throw money down the military hole. This was the greatest form of aid America gave those countries.
George W. Bush on education: "Rarely is the question asked: 'Is our children learning?'" — George W. Bush, Florence, South Carolina, January 11, 2000.
Trade Deficit Becomes Gorge:
Remember when some knucklehead in Washington told us that a weak dollar would mean our exports would narrow the trade deficit? The latest figures confound this argument. The New York Times reported yesterday that the "trade deficit grew 9.3 percent, to $63.1 billion" in November. It is true that exports grew in the same time period, but only by 0.4 percent. America sold $142.3 billion overseas.
The major factor has been the increase in oil consumption. The northeast has had a colder winter than in the past couple of years, and Americans simply refuse to alter their driving habits, including the trucking industry. America has moved its economy to 18-wheelers, probably the most foolish and wasteful economic decision imaginable.
Why is the price of oil so high? Because speculators are willing to bid the price up to almost any level, knowing that Americans are willing to pay almost any price for it.
Sen. John McCain on the campaign trail: “I feel like Will Smith in I Am Legend — I’m the last guy standing that’s not a zombie” (qtd. Gail Collins in her Op-Ed piece for Saturday).
Paul Krugman addressed the comparison of the American and European economies yesterday on the Op-Ed page of The New York Times, pointing out that Republican criticism of the EU is mostly hokum and relies on the average American's ignorance of anything outside his or her immediate environment. But like almost everyone, he failed to mention military spending. Check the numbers, America spends far more on military might than the rest of the world combined. And absolutely no one follows the money trail. The flat truth of the matter is that no one in the public sphere either knows or is willing to tell us where all of that military money ends up.
We are told that this coming year, America will spend over $600 billion on our military. Still think Ron Paul with his notions of massively downsizing our military has a chance to win the Republican nomination? Think again. The military/industrial complex is still our biggest industry. Why else would our politicians be forever manufacturing enemies abroad and at home?
When you start examining the recovery of Japan and Europe after World War II, one major factor becomes eminently apparent: they saved tons of money from the shear fact that they no longer needed to throw money down the military hole. This was the greatest form of aid America gave those countries.
George W. Bush on education: "Rarely is the question asked: 'Is our children learning?'" — George W. Bush, Florence, South Carolina, January 11, 2000.
Trade Deficit Becomes Gorge:
Remember when some knucklehead in Washington told us that a weak dollar would mean our exports would narrow the trade deficit? The latest figures confound this argument. The New York Times reported yesterday that the "trade deficit grew 9.3 percent, to $63.1 billion" in November. It is true that exports grew in the same time period, but only by 0.4 percent. America sold $142.3 billion overseas.
The major factor has been the increase in oil consumption. The northeast has had a colder winter than in the past couple of years, and Americans simply refuse to alter their driving habits, including the trucking industry. America has moved its economy to 18-wheelers, probably the most foolish and wasteful economic decision imaginable.
Why is the price of oil so high? Because speculators are willing to bid the price up to almost any level, knowing that Americans are willing to pay almost any price for it.
Sen. John McCain on the campaign trail: “I feel like Will Smith in I Am Legend — I’m the last guy standing that’s not a zombie” (qtd. Gail Collins in her Op-Ed piece for Saturday).
Labels: The Economy
posted by Jim | 12:25 PM
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