The prospect of another world war: Can foreign policy be strong if economy is weak? Take poll and discuss at http://lnkd.in/uh6yY9
Lovers and madmen have such seething brains,
Such shaping fantasies, that apprehend
More than cool reason ever comprehends.
The lunatic, the lover, and the poet,
Are of imagination all compact:
One sees more devils than vast hell can hold —
That is the madman;
The lover, all as frantic,
Sees Helen’s beauty in a brow of Egypt.
The poet’s eye, in a fine frenzy rolling,
Doth glance from heaven to earth, from earth to heaven;
And, as imagination bodies forth
The forms of things unknown, the poet’s pen
Turns them to shapes, and gives to airy nothing
A local habitation and a name.
Such tricks hath strong imagination,
That, if it would but apprehend some joy,
It comprehends some bringer of that joy;
Or, in the night, imagining some fear,
How easy is a bush suppos’d a bear.
A Midsummer Night’s Dream, William Shakespeare (Circa 1590), Act V, Scene I, Athens, The Palace of Theseus, Theseus to Hippolyta
Options available are rapidly distilling to two for the West reeling in economic turmoil in the face of a steadily rising Asia: war or no war between the two worlds.
European unemployment, caught in the schizophrenia between a 60 year old commitment to staying on track to politically unite Europe and separating monetarily, is warming the continent more than the pole to its north, whose reversal by end-2012 in a geopolitical powershift to the south of the 40th parallel above the equator is the principal cause of concern in Brussels.
American economy is not doing that well either. $16 trillion expended thus far by an institution more prone to saving itself and its boss than it is to saving the economy or the world is not preventing the US economy from sliding back down, away from the central tendency forecast by the invisible Fed economists who wish to measure the economy more than they wish to communicate and be able to make their jobs measure up to public expectations.
12 zeros following 16 (16,000,000,000,000 or US $16 trillion or $16 million million), a number larger than the annual size of the US economy in recovery, is not available for investing in the United States. It is often lost in the non-transparent din of Federal Reserve’s recent transparency. It is a number that has been circling the political circles of Washington since the early leadership of the wonkish and knowledgeable Republican candidates, Ron Paul – who knows the Fed well and Newt Gingrich – who critiqued the recent financial regulatory reform and both – who supported the Government Accountability Office’s (GAO) audit of the Fed precipitated by the Fed’s intransigence to share details of its monetary expansion since 2007.
Sixteen trillion dollars, placed end-to-end lengthwise – the distance between earth and planet Uranus when it is closest – has funded the entire US Federal Budget from 2008 to 2012 through the Federal Reserve at $4 trillion per year on average, tax revenues of about $12 trillion during this same period aside. National debt of more than $15 trillion still remains.
Barring about $1 trillion in bank reserves at the Fed and the often reported $2 trillion in uninvested corporate cash, about $25 trillion (one-third the size of the global economy) is cumulatively circulating in the world since the summer of 2007 and will only increase through late-2014 at a zero per cent interbank overnight lending rate targeted by the Federal Reserve. A part of these monies are 4 trillion dollars unaccounted for in the Iraq war.
Still, once again, job creation has plateaued-off in January and growth is slowing in the first quarter of the year.
Economists call the American economic predicament a “liquidity trap.” I call it corruption in a country lacking the will to turn around an economy bobbing between deflation and inflation, mutual successes of monetary policy, despite a legally independent Federal Reserve with full legislative support since 1933.
A bi-partisan group of 32 US Senators are supporting targeted attacks against Iran to save Israel from a possible Iranian first-strike even though Iran, with far weaker local and global intelligence operations than either US or Israel, is clear in articulating that there will be no such strike. The boys at the Pentagon have new bunker busters they are itching to lay their hands on in combat to justify the defense spending to modernize America’s defenses, including nuclear weapons while railing against nuclear power elsewhere.
At the core of this political-economic dysfunction, a symptom, lays the beast: the root cause of the jingoism of an inward-looking Europe and the outward projection of American economic and political power. Its purpose is for Europe to gate-keep civilization while America guards the gates from the barbarians in the east (and vice versa) in (a critique) the clash of cultures, not civilizations, since Macedonia and Persia.
The dollar is flooding Asia at the expense of America, helping European operations of American banks, and standing-by to finance the war-time budgets of United States and the North Atlantic Treaty Organization (NATO), as if the exit from Iraq and the end game in Afghanistan is to open the hornet’s nest in Iran to secure the faltering spring in Arabia.
Iran is to be believed, taken at its word, notwithstanding some recently reported tensions between Ayatollah Khamenei and Ahmadinejad, that it does not intend to strike Israel with a nuclear warhead if not for any other reason besides its own technical incompetence. P5 + 1 together with Israel’s Mossad is more than capable of penetrating any leakage of nuclear material out of the poor country which needs its own oil to overcome its inflation, and therefore, needs peaceful nuclear power with the engagement of the technically more competent P5 + 1, globally, in the context of GlobalZero (total nuclear disarmament), through the International Atomic Energy Agency (IAEA).
America, as a part of P5 + 1, must open its fists by facilitating a rapprochement between Israel and Iran in Vienna later this year at the IAEA. Then there will be peace.
Why America is in a Huntingtonian clash of civilizations when it inherited Civilization from the world is indicative of the deviation of the United States from its founding values. Its national security has been built into its political structure rendering intelligence activities gratuitous. The country’s fate could be sealed if it fails to adhere to the national seal.
Oh, East is East and West is West, and never the twain shall meet,
Till Earth and Sky stand presently at God’s great Judgment Seat;
But there is neither East nor West, Border, nor Breed, nor Birth,
When two strong men stand face to face, though they come from the ends of the earth!
The Ballad of East And West, Rudyard Kipling, 1889