Debunking economics with Professor Steve Keen
- global capitalism hasn't re-emerged since 2008? Democracy and capitalism contradictory? Hilarious the parallels between capitalism and feudalism when you think about it. 500-1000 businesses control vast bulk of income in US? Since wealth controlled by so few rest are slaves to that particular system. Minority co-ercing/persuading US government through stimulus to real estate industry since 1930s? Would be curious to see social graphs of political class over time? People aren't getting wealtheir anymore in spite of higher productivity and easy credit? questions about long term viablity of capitalism need to be raised?
Cornel West and Richard Wolff talk about Capitalism and White Supremacy
How Class Works -- by Richard Wolff
- raise capital directly? Bond market revolution by bypassing banks. Europeans have been attempting to something similar to find growth. You won't understand why financial markets are basically places to gamble until you spend more time researching or working in the industry. Basically, imagine a dark pool where everyone is basically transacting in the same products. Over time, spreads will narrow (price discovery). In reality though the only way you can really money is to leverage or speculate between the actual and perceived value of the asset in question. Since the best chances of achieving this is through better intelligence in reality the success rate of most financial investment firms is going to be extremely small with only a small minority managing to beat the relative index over the long term after taxes and fees. Realistically, what we're doing in investment is taking money from heaps of (naive, incompetent, less prepared, etc...) people and giving it to a small number of others but we need that in order to facilitate a social system. You only understand the doom loop situation that a lot of advanced economies have created without adequate background. US central bankers believe in cleaning up bubbles but not necessarily preventing them? If you can cut through all the gibberish you'd understand that the actual function of the global market and economies is gibberish. Check John Perkins economic hit man background does current world situation seem familiar? In Brazil everyone thinks everyone in the government is corrupt? Australian government went in big and fast with 'helicopter money' ($1K for each person with a Tax File Number) to stave off GFC unlike US where it went to save banks. Australia still a primitive economy despite it's classification by most people as an advanced economy. People who are too ideologically focused and not pragmatic enough in positions of power now? Enormous pain in Greece with regards to austerity. Government surpluses are a bad idea because it's drawing money from private sector into public sector. Politicians running economies under-prepared. Steven Keen advocating restarting from scratch if we enter another 'Great Depression'. Politicians reactionary rather than pro-active. Not genuine leadership for a better society. In past debt was written down/forgiven when it was impossible to repay. Irresponsibility of lending taken on by lender. Else, print money and give it to everybody to pay down debt. System is failing not individuals? Mortage means 'death contract' in Latin. 10% non Neo-classical Post Keysians Marxists evolutionary economists. Minsky. If debt relieft offered periodically but irregularly reduces 'moral hazard' issue? If you know enough about economics, science, politics, etc... you'll know that a lot Nobel prizes probably aren't awarded to the right people or achievements. Some of the economics Nobel prizes have been awarded to theories which have basically failed? If the world is guided by pure academics or life long traders we are in a lot of trouble. Even if neo-classical economist do understand the flaws in their own system they won't owe up to it because it's necessary to keep the current system going? Steve Keen saying same thing that I said previously. World has become USSR. Stagnant or impaired growth now. US in trouble. Japan will continue to remain in trouble. China in trouble but emerging markets offer it growth potential. UK in trouble. There are some global profit charts (across at least 14 countries) I've seen which indicate that this is a global problem. We can try to grow our way out of our economic doldrums but in reality it's becoming more difficult. Economics is still in the dark ages? We honestly don't know why crashes occur?
Keiser Report - Revolutions (E915)
Keiser Report - Bill Clinton's 'Economic Miracle' (E918)
Professor Steve Keen- Debunking Peter Schiff's Austrian Voodoo Economics
Steve Keen on BBC HARD TALK Nov 2011
Meet the Renegades Steve Keen
Zombies-To-Be and the Walking Dead of Debt
Is Austerity a Necessity
MMT-MCT Fields Institute Seminar - Steve Keen
How Should Economics Change With Steve Keen, Diane Coyle & George Cooper
Over the Fiscal Cliff - Professor Steve Keen
Capitalism and Socialism - Crash Course World History #33
Capitalism by Stiglitz
HISTORY OF IDEAS - Capitalism
Europe’s quest for bank ‘bail-ins’ poses risks to retail investors
Keiser Report - Marquis de Sade & Modern Bankers (E904)
John Perkins, Confessions of an Economic Hitman, Proxy Wars & Those Behind Them
- if you want a bubble less economy within the context of capitalism you need a way to value properly (reduce speculation)? Does this require 'lie detection'? Is it even viable? Accurate? The way we use high levels of centralisation in modern society means that it almost inevitably results in high risk. Since margin often decreases as an average when you spread out across multiple product segments if 'value' collapses then the whole system collapses. By desiring such a large empire (with less ideal solutions across the board (each link in the chain is supposed to add value)) you literally cause it to collapse at some point (or at least reduce progress)? For instance, with regards to crime even though genetics makes us all different we want a general solution for everyone in most countries. However, it's clear that a lot of criminals see this 'general solution' as weak so they repeat or can they not find a way out of their circumstances? This isn't justice or a proper way to handle management of social systems? We come together to make things better but we need seperation in order to maintain integrity of the system. Nature in beautiful in this instance. An organism's digestive system is inefficient and there are mechanisms to stop overeating meaning it's difficult to destroy local habitat/ecosystem. If that fails the organism dies off. Inflation and supply issues handled by having different animals by having differentiation in the environment.
Brain-Based Lie Detection Belong in American Courtrooms
NLP Training - How To Spot a Liar - David Snyder
How to be a lie detector - Professor Glenn D Wilson
Karen Rommelfanger, Ph.D. - 'Magnetic Resonance Imaging (MRI) and Lie Detection'
Pamela Meyer - How to spot a liar
The facts and follies of lie detection _ Andre Wang _ TEDxAmherstCollege
- the problem with basing an economy on lies is that it can basically hold back your economy/progress. Imagine that is all we can do, we can't actually innovate? If our population is educated across the board it's competition to see who can create better value. If they aren't so good at that you require suppression. Mechanisms (wars, destablisation, change of governments, etc...) to reduce the value in other systems which automatically means you create an arbitrage situation. What if literally gave away money to students on their way out of University/College to start their own businesses at some point or just gave a free money at some point in their life for this particular purpose? Would it help to create more viable business opportunities or are there only finite choices?
- our financial system is hilarious and revolves around the notion of supply and demand and variable value at it's core. It's effectively a self corrupting social system. If you are able to lie sufficiently well or else figure out the truth to all of it then it basically all comes crashing down. The assumption that 'market efficiency' and 'market pricing' only works in an ideal world
- as an economic/social system nature is a thing of beauty. We let rabbits into Australia and they ravaged the outback, globalisation will pose much the same threats whether it comes in the way of biological, financial, political, and so on. It's best for those who already have things going for them or have certain unique advantages. If you open up with balancing up the risks it makes budgeting very difficult to manage. Remember the USSR? It's the same thing with the world and the EU now. We've transferred one system into much larger ones. Either the EU needs to partly break up or else there needs to become more integrated. It's the same with our local situation. Big risk for big reward or we otherwise need to rig the circumstances somehow? Look at some politicians overseas and it looks like they're struggling or they could simply be a victim of the circumstances that they have somehow created. The only genuine way to predict or forecast is to reduce the variables involved, rig the game, gain more intelligence, actually be a true prophet, etc... It's not that simple
- did FDR's policy of high taxes result in growth? Same as Wolff description. There were those who worked against this policy in spite of supposed benefits across the board?
Barack Obama - Treason in America - Documentary - Full Movie
- our present pathway (of low taxes and greater inequality) is the exact same towards the last prior to great depression of 30s in US? people know the game is rigged but it's their optimism which allows them to keep them going?
Last Week Tonight with John Oliver - Wealth Gap (HBO)
- people in general (intellectuals in particular) are actively disuaded via PSYOPS to not look too deeply into things or else would cause social instability? Farmer clueless what causes recession and depression. Bernanke says panic causes recession and depression. Keynes says technical problems cause recessions and depressions. Minsky says that capitalism and financial sector in particular unstable. Capitalism inherently unstable. Keen says that capitalism causes mis-contructed financial sector. Supply/demand theory doesn't make sense. Controlling debt/risk doesn't make sense either? Marx theory is that since profit is core motivator inherntly leads to boom/bust cycles. Eventually capitalism grinds to a halt as we're seeing though. World profitability have been falling over 150 years in 14 countries as predicted by Marx. Rate of profitability has been falling across the board actually. Recessions tend to recover growth rate, despressions tend to result in lower growth thereafter. Doom loop scenarious being outlined over and over in caplitalist theory
Marxist theory of crisis - The nature of the current long depression - Michael Roberts
Japan fund managers create customised ETFs for central bank
- are our economic plans are literally upside down? Most people who have worked in large and smaller businesses know that you only really know how to budget when you start small. Waste occurs mostly the larger you scale up. Why train people to mostly work for others then? Why not help them to have a choice between starting their own business as well as working for other people all the way through their education? Just seems like a multiple losses to me. Education just teaches mostly theory which doesn't help in real world and requires more training, Western education is obvious bubble sector once people get over propaganda, if they can't find a job they will have limited choices which means more people on the welfare queue. As in last post if wealth distribution basically hasn't changed since Roman Empire (in many Western economies) and in spite of greater happiness being recorded in Nordic countries such as Sweden, Norway, Finland, etc... which tend to have much lower Gini co-efficients I just wonder whether or not we're doing things the right way or does socialist systems require capitalism (outside of the local system) to live off of? Age directly proportional to life expectancy. Generally, most Western countries/Americans want to be socialist/Nordic theme again
Richard Wilkinson - How economic inequality harms societies
- Epiticus. US dollar use dropping over decades. Below 50% of transactions worldwide now. Members of political class believing their own propaganda? At back of mind one always wonder whether political class are worried about possible rise of China, Japan, etc... owing to their imperial past? Global economy on verge of collapse. Negative interest rates distorting things
Keiser Report - Hegemony, control and Russian bonds (E916)
- Marx was a revolutionary/activist, not just an academic. Engels important. Exiled from many European states for threatening system/buorgise. Our current political class want to preserve this system even if it's collapsing/reaching a terminal limit? Each person plays their part. Think about automation contradiction. If world heads towards globalisation and capitalism is it's core spreads will narrow and automation will basically put most of us all out of a job. Look at economic distribution prior and before after government intervention (taxes, regulation, etc...) and it's much worse then during Roman Empire which was widely considered corrupt
An Introduction to Marxist political economy - Jo Cardwell
- basically heavy nationalism and elimination of enemies with high independence
What Is Fascism
- merger of state and corporate power. Corporations, government, etc... no longer keep each other in check work together. People in general not in favour of corporatism? Most people seem to favour no to low taxes at the bottom with high taxes at the upper end?
CORPORATE FASCISM - The Destruction of America's Middle Class
- communist/socialist practitioners don't really ban religion per-se? Make the assumption that Marxism can only work within a closed system. What if it's simply delivered differently? The system remains thoroughly Marxist but they gain the benefits of a more open model. Interesting overview
What has Marxism to do with religion
The Communist Manifesto - Terry Eagleton - Marxism 2011
The Cuban Revolution & Fidel Castro's Communist Regime in Cuba _ Cold War Footage _ Full Documentary
- central/reserve banks came about because wealthy wanted to remain wealthy relative to rest of population? By protecting a system you're just protecting ratios in wealth. World would be worse off without offshore tax havens? Is the system rigged in favour of those who are talented and hard working or is it rigged in favour of those protecting waelth (always thinking about Roman Empire). Size of industries relative to another would change
Analysis How markets are rigged against you
- finance sector is outsized because that is what is required to keep economy afloat after GFC. Couldn't change accounting practices achieve the same thing?
- is it possible to build a financial system that is incorruptible or can you only manage it because humans themselves are the problem?
- whether you're involved in the production side, software development side, etc... one of the things you'll notice is that audio software can get pretty expensive sometimes. I prefer FOSS alternatives because they're free but also for other strange reasons. They often have lower resource requirements which means I can get by with a lower powered system, commercial software has just become very cumbersome with regards to the licensing issue which is a huge problem if you ever need to re-install with some companies, for some software it's nearly impossible to get an evaluation in which case you're stuck with trying to buy the full product or going without, etc... The strange thing for me is that you can get a lot of bundled audio software for free almost when purchased with some hardware given the high charge for standalone software
Sugar Bytes Slice Arranger: alternatives ?
The finger & stutter edit - Alternatives?
- heaps of free Sylenth1 (eval version widely available) and Synth1 (free) edm preset pack
The FREE plugins thread!
synth1 edm presets
- free percussion sample pack
- free EDM MIDI files
- free SampleTank alternatives (older version is free on IK Multimedia website while 'lite' version often come bundled free with with often cheap audio hardware)
- creating own VSTs
programming own vst synth windows
Visual Studio vst programming
- Max4Live patch with regards to Algorithmic Music
The Generative Electronic Dance Music Algorithmic System - 7443-32752-1-PB.pdf
ableton algorithmic composition
- some stuff EDM music/song structure
- the magical lines to generating sounds from a standard MIDI file
JcgMusic - A Java port of cgMusic
timidity -Ow -o - input.mid | lame - output.mp3
timidity input.mid - Ow -o - | ffmpeg -i - -acodec libmp3lame -ab 256k out.mp3
- you can actually get away with less costly hardware with the right software
Recording Better Sounding Audio on Your PC
- building a cheap pop filter
FREE DIY Microphone Pop Filter - Made Entirely Of Paper…
- "This is exactly what we counter-terrorism people have been warning of: mass shootings by fans of [IS] inspired by its message," said William McCants, a former State Department official who worked on countering violent extremism and is the author of The ISIS Apocalypse.
Unable to curb the availability of guns at home or extremist propaganda from overseas, authorities may have to rely more on encouraging Americans to watch one another and report suspicions. Federal and local governments already have programs urging friends, families and neighbours to identify people targeted for recruitment.
"This is going to put a lot more pressure on the FBI and Homeland Security to use their networks to pick up even subtle signs of possible violent extremism," said Seth Jones, a counter-terrorism specialist at the RAND Corp.
- My nightmare scenario is a door-to-door slog through the old city center. It is a warren of tight squeezes and hiding spots — no vehicular support there. The western desert is devoid of any cover or concealment. The berm ringing the city is tall and would be an impediment to dismounts and mounted troops alike. The enemy is dug in and not going anywhere.
"Right now, people on the no-fly list can walk into a store and buy a gun. That is insane," Mr Obama said. "If you're too dangerous to board a plane, you're too dangerous, by definition, to buy a gun. And so I'm calling on Congress to close this loophole now. We may not be able to prevent every tragedy, but at a bare minimum, we shouldn't be making it so easy for potential terrorists or criminals to get their hands on a gun that they could use against Americans."
- “For years, officials in the US, Europe, Turkey, and the Arab World have been promoting ‘the moderate FSA’ or even ‘the secular FSA’ as Syria’s great hope for the future, without ever arriving at a better explanation of what that means [other] than ‘any damned armed group in Syria that we can work with.'”
This ambiguity, Lund noted, has ultimately helped Russia pick and choose which rebels it wants to work with — and those it wants to eliminate.
“By rebranding their own allies and all kinds of random exiles as ‘FSA representatives,’ they [the Russians] are trying to wring a very useful fiction out of the hands of their enemies or, failing that, to destroy it by adding to the confusion,” Lund wrote.
- The trio have woven Dyneema – one of the world's strongest fabrics and typically used in the nose cones of long-range missiles and to coat Apache and Black Hawk helicopters – into denim.
The result is a protective clothing that looks like regular denim wear but can skid for 3.67 seconds, or 50 metres, without tearing. It is close to gaining full protective certification from the EU, which requires a skidding-without-tearing time of at least four seconds.
Mr Lelliott reckons they will achieve that milestone by mid-2016 and will help the company live up to its name, Saint.
"Patron saints protect people, saints are like angels," he explains.
"We have already got fabric that can go over four seconds, we are just finalising how we can produce it."
- She witnessed the influence of fundamentalism gaining ground: "The newly returned hajis [returning from pilgrimage to Mecca] wanted to purge their local religion of all the flavours it had picked up while stewing for centuries in the rich cultures of the islands… in favour of… pure, identikit Arab Islam."
This is the new reality in the globalised world. Wherever there are Muslims in large numbers, there will be a strand of religious fundamentalists who view Muslims as oppressed by infidels and who read the Koran as a call to arms, providing the justification and vindication for violence.
The pattern is repeated constantly.
- So ends a great discussion that previously I had little knowledge about. Sure, the companies present had ‘made it’ and sure, AWS had helped but I was astounded at the level of funding available and the help available to start-ups to become viable businesses.
Yet I think back nearly 40 years when I had to hock my car to start a business. How I had to reinvest every cent in the business (small business owners were the new ‘poor’), and how inch by inch you crawled over every obstacle to build a successful small business.
The opportunities these start-ups have – admittedly some of the cream of the crop – are amazing.
- We were discussing what a good example the “Iron Lady” was of what Jung termed the animus, that “masculine” element in the female psyche which can give a woman the strength of mind and character to make her a true leader. Already people were speaking of her as “the only man in the Cabinet”.
“She is so dominant,” Stevens predicted, “that for a good time to come she will carry all before her. But gradually her style of leadership will build up such resentment in those weak men around her that they will eventually gang up to get rid of her.”
No one better exemplified what he was talking about than Geoffrey Howe, whose feline resignation speech 11 years later triggered the flood of resentment which brought her down. The “weak men” had won. The Tory party had lost its last truly “manly” leader. We live with its aftermath to this day.
- Over many centuries, the Catholic Church has been a patron and enthusiastic supporter of science, because science and religion really are compatible and support each other. Long ago, it was said (by St. Augustine) that “the book of nature and the book of Scripture were both written by the same author, and they will not be in conflict when properly read and understood.” More recently, Pope St. John Paul II said in 1987, “Science can purify religion from error and superstition. Religion can purify science from idolatry and false absolutes.”
Unfortunately, when asked about the church and science, most people (even most Catholics!) remember only one word: Galileo. After 400 years, after a Papal apology, after a space probe to Saturn was named for the Jesuit astronomer Cassini, still no other name emerges. Virtually none of the viewers of the TV show The Big Bang Theory realize that that theory was the achievement of the Belgian priest Georges Lemaître. To this day, most religious leaders quickly retreat when they hear the word “science.”
- MOSCOW, December 7. /TASS/. Russia hopes for a considerable expansion of the military-technical cooperation with Iran after all restrictions on supplies to that country are lifted, the Russian presidential aide on military-technical cooperation told the Izvestiya daily.
"When all restrictions and all sanctions are lifted, I think we will have a rather serious development in the sphere of military-technical cooperation, it partially now embraces items not covered by sanctions, and we hope for very large projects in the future," Vladimir Kozhin said.
"The interest of the Iranian side is huge. They really need serious upgrade of their entire armed forces… Taking into account that it is a large country with large armed forces, of course, the talk will be about very large contracts, worth billions," Kozhin said.
- “We should not be drawn once more into a long and costly ground war in Iraq or Syria. That’s what groups like Isil want,” added Obama. “They know they can’t defeat us on the battlefield. Isil fighters were part of the insurgency that we faced in Iraq. But they also know that if we occupy foreign lands, they can maintain insurgencies for years, killing thousands of our troops and draining our resources, and using our presence to draw new recruits.”
- sent a message asking when the article would be published and stating I would need to review the final edits and authorize before publishing, and the CNN producer responded affirmatively, saying the piece should be up by Thursday (it was Wednesday night). After hearing nothing from them through most of Thursday, I asked the producer what was going on. Her response was, “the editor says the article must make clear that the Carter Center no longer operates in Venezuela, or that statement cannot be included. It’s a requirement to publish”. I wrote back that was not acceptable. I would not allow CNN to impose a sentence on my article as a condition of publishing, especially one that had no relevance to the original statement made by Jimmy Carter. Late Thursday, they sent me a message stating that “internal consultations at the highest level were underway regarding publishing my article”. Hours later, I received another message stating that “all editors were consulted and the decision was not to publish the column”.
What CNN did was outright censorship. They refused to publish my article because it presented documented and well sourced information favorable to the integrity of the electoral process, and the possibility of a government victory. Why doesn’t CNN want its readers to know that Jimmy Carter, one of the most respected US leaders of all times, believes Venezuela has the best voting system in the world? Because CNN, along with other US and international media, such as The Washington Post, New York Times, Wall Street Journal and the Financial Times, are preparing to support opposition claims of fraud in Venezuela in the probable event of a government win.
Presidential candidate Hillary Clinton has claimed the Venezuelan government is attempting to “rig” the elections in its favor. Of course the US State Department has issued several warnings against Venezuela, hypocritically criticizing the lack of formal elections observers (which the US does not allow for its own elections) and calling on the government to cease intimidation and political violence after an opposition politician was killed on stage during a political rally last week. What the US and other international media didn’t report is that 3 suspects in the killing were already detained and confessed to killing Luis Manuel Diaz as part of a gang dispute. Credible evidence surfaced linking the victim to organized crime, confirming his murder was not politically motivated. No connection between the government or government supporters and the murder has been evidenced, despite unsubstantiated claims in US media.
As I state in my original article, censored by CNN, (now published on RT) Venezuela may have its problems, but the credibility of its electoral process is not one of them. The same electoral system used in this Sunday’s elections, also was used to elect the more than one third of the legislature the opposition current holds, along with the opposition governors and mayors in the country’s most populated states and cities. Why is it fraud then when only one side loses? The answer is simple: it’s not fraud, it’s called being a sore loser. In democracy, the results are respected, no matter who wins, and no matter who loses.
- Since summer, the percentage of attack planes dropping bombs on missions has increased. In July and August, half of the warplanes returned to base without dropping weapons, Army Col. Steve Warren, the military's spokesman in Baghdad, said this week. By October, 60 percent of the planes attacked Islamic State targets, and November's figure was 65 percent.
- Wealth inequality in the US is so lopsided that the classic wealth distribution pyramid is now more like Seattle's iconic Space Needle, write Mr Collins and Mr Hoxie.
The bulge at the top represents America's wealthiest 0.1 per cent - just over 300,000 people - each with a net worth starting at $20 million. This elite group own about as much wealth as the bottom 90 per cent of Americans combined.
Moving up the "wealth Space Needle", the rotating luxury restaurant atop the bulge represents the wealthiest 400 Americans. The net worth of each of these people is at least $1.7 billion. Combined, this group has more wealth than the bottom 61 per cent of Americans - about 194 million people.
The list of the wealthiest 20 Americans includes eight founders of corporations, nine heirs, two investors and one casino mogul.
To help people get their heads around America's mind-boggling wealth inequality, the report compares the fortunes of the ultra-rich to several segments of American society.
The findings include:
The wealthiest 100 households now own about as much wealth as the entire African-American population in the US.
The wealthiest 186 members of the Forbes 400 own as much wealth as the entire Latino population.
The Forbes 400 now own about as much wealth as the nation's entire African-American population – plus more than a third of the Latino population – combined.
The report focuses on two main ways of reversing extreme wealth concentration in the US: closing wealth escape routes, including offshore tax havens and tax-avoidance loopholes; and a direct tax on wealth.
A flat levy of just 1 per cent imposed on only the top 1 per cent of wealth holders, for example, would generate $260 billion a year - "more than the federal government now spends on education and environmental protection combined", the report says.
These funds could then be reinvested into wealth-building opportunities for working families, such as debt-free education and affordable housing.
- The thing is, hitting a moose is way more dangerous than hitting a deer, something we are more familiar with in America. Because of the animal's weight, long legs and high center of gravity, a moose can crush the passenger compartment of a car from the roof down when struck. (I have personally witnessed the aftermath of this and even with a juvenile moose, it was gnarly.)
So as Volvo introduces the new S90 "premium sedan" with a T8 Twin Engine plug-in hybrid powertrain, a semi-autonomous drive feature, leather all over the place and yadda, yadda, yadda, the Swedish carmaker is also debuting a moose avoidance system.
Dubbed the "large animal detection," system, the car "is capable of detecting large animals such as elk, horses or moose, night or day. The technology offers an intuitive warning and brake support to help avoid a collision."
It's all part of a system that does tons more than avoid moose, though. From "run-off road mitigation," to speed limiters based on road signs, pedestrian avoidance, etc., Volvo is throwing the kitchen-sink of safety features at the S90.
Plus, it looks awesome.
The S90 is set to be publically unveiled at the NAIAS in Detroit
- Russia's lower legislative house has passed a law letting its government ignore European Court of Human Rights judgments after the ECHR ruled the nation's internet surveillance was incompatible with human rights.
The unrestricted interception of all telecommunications in Russia is conducted through the mandatory installation of government network-sniffing equipment.
A legal challenge brought against this in 2003 finally resulted in an ECHR judgment last Friday.
However, a law passed on Friday through the Duma, the lower house of Russia's legislature, states that the nation's constitution is to take precedence before judgments or obligations imposed by international bodies.
- If the US has launched 20,000 bombs and missiles against a non-state actor with no air force, navy, or modern army, how many might be required against a major world power with modern armed forces? What if an unexpected and unavoidable war were thrust on us in the near future? ISIS represents a legitimate terrorist threat, but is not an existential threat to the US. A war against either Russian and Chinese forces most assuredly would. How would the Department of Defense, Congress or the Administration explain to the American people that our armed forces couldn’t effectively blunt an enemy attack because we ran out of missiles?
Such a situation could be catastrophic for the United States and our interests abroad. In a time of zero sum defense dollars, it is crucial that Washington reassess its military strategy against ISIS. Hoping that we don’t get into a conventional fight in the near future while wasting limited resources on a failing strategy in the present puts our national security at unnecessary risk.