Wednesday, November 18, 2009

This is in response to Joe Ureneck's 11/13/2009 column "Fort Hood: Just the Beginning."

It is not at all "uncertain what the repercussions will be to the economy overall" if the U.S. abandons its morally and fiscally bankrupt empire and pursues a foreign policy of noninterventionism. Military Keynesianism--like Keynesianism in general--is a fraud. Yes, in the short run, there will be economic dislocation as troops come home and military contractors lose business. But the funds required to support those troops and contractors are extracted from the wealth-generating civilian economy in the first place: they are either taxed, borrowed or counterfeited (via Federal Reserve Bank "quantitative easing"). Taxing, borrowing and counterfeiting impoverishes the many for the benefit of the few. Return those funds to the productive private sector of the economy, and American companies can once again compete in world markets. American employees can once again enjoy a thriving job market. And American consumers can once again buy goods and services they can really use--instead of buying bombs and rockets and foreigners' undying enmity.



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