Oh Time magazine, you show how stuck in the 1960′s old media is:
The accumulating damage wrought by the permanent war economy started to accelerate in the 1970s, and by 1980, the cancer metastasized: militarization and managerialization began to openly thrive at the expense of the traditional high-wage manufacturing sector, in effect, siphoning off money flows via a combination of government handouts and favorable tax treatment that in effect rewarded both the looting of the tax base and the draining of competitiveness and ingenuity from the civilian manufacturing sector (via the increased defense subsidy, leveraged buyouts, offshoring of jobs, emphasizing short-term focus to pump stock prices, etc.)
If you want to learn more about the important but little examined subject of defense dependency, and by extension, learn more about why America is becoming a third world nation, the best introduction is Melman’s* elegantly argued 11-page prologue to Profits Without Production, aptly titled ”How the Yankees Lost Their Know-how.”
Chuck Spinney uses Time’s battleland blog to give cover for the failure of the Democrat’s current
wet dream welfare state. The truth as provided by Robert J. Samuelson of the Washington Post (?):
The welfare state’s great contradiction — the reason its politics are so messy — is that what seems good for the individual is not, when multiplied by thousands or millions of cases, always good for society. Politicians appeal to individuals who vote, but in doing so may shortchange the nation. Most obviously: The welfare state’s costs may depress economic growth.
The need is not to dismantle the welfare state but to modernize it gradually, preserving its virtues, minimizing its vices and not doing it abruptly so as to derail the recovery. But first we need to admit it exists.
I take back some of my vitriol I had for WaPo.
It wasn’t the Regan buildup that somewho screwed the US economy. It was guys like Mike Milken, the short sighted labor unions and bad decisions by rock star CEO’s that put American industry on it’s rocky course. Between labor unions asking for the moon, a finance sector looking for a quick buck and CEO’s more concerned about their golden parachute it’s a wonder that Japan didn’t take over the world:
Actually, the Japanese hypergrowth of the ’80s was built on a system of buddy-buddy relationships between various corporations and the government. At the time, this system appeared to be a triumph of modern corporatism and state-directed capitalism, but nowadays, we just call it “crony capitalism”. Predictably, this created an unsustainable economy based on *ahem* loose credit, selling below profit, and toxic loans. At its peak, property values became massively overinflated, to the point where prime real-estate in Tokyo could sell for more than the entire GDP of smaller countries. Once the bubble popped, the economy stagnated, and Japan entered a “lost decade” (or two). Banks became zombie banks, the central bank got its hands stuck in a liquidity trap, and Japanese twenty-somethings faced a fate worse than death: while their fathers had enjoyed lifetime employment at one company, they moved from temp job to temp job, failing to build much in the way of careers. In short, they weren’t half as inhuman as the mythos.
Wow, TvTropes beats liberal bullshit again!
Here is the take away via John Nolte at Breitbart.com:
Naturally, this won’t end with Obama leaving office in 2016. For the media will then write the first draft of history with a flood of books proclaiming Obama’s greatness — regardless of the actual results. And if this first draft of history is based on what we’ve seen throughout his presidency, Obama will be graded on a curve so steep it will require a guard rail.
So, no, Libya will never be properly investigated. Furthermore, no matter how bad the economy gets, Obama will always be credited for saving us from “Bush’s Depression.”
Yeah so the DoD will be gutted, America won’t be able to save South Korea, Taiwan, Israel or the next country old media wants us to save (*cough like Bosnia cough*).
But people will be able to buy Iphones with their EBT. That’s…um…yeah…