The Next Distraction Of An insolvent World?

Wile E. Coyote Looked Down

Wile E. Coyote Looked Down

China, having digested previously independent Tibet, is demanding territory from India, though that is  presently low-keyed. It’s ongoing expansion into the South China Sea is on the front burner, now with a warning to the United States of war should it not back off its opposition to the Chinese expansion. China is rapidly building military bases in the disputed islands.

As the map suggests, the Spratly Islands are closer to the Philippines than to China. In fact, China signed a treaty agreeing to an international standard for boundaries that put the Spratlys outside of China. Never mind, now China is busy fortifying the islands.

As all those awake know, Russia has followed its invasion of Georgia by seizing Crimea and invading eastern Ukraine. While Moscow denies that the Russian elite troops and their latest versions of guns, armor and missiles  are Russian, those captured and killed by the Ukrainian military say otherwise. The neighbors are spooked.

And the U.S. has joined the China Seagame as a friend of the Philippines. American patrol flights are overflying the Spratlys. A top Chinese Army General has warned that war will follow if America fails to withdraw.

Meanwhile, various folk are predicting WWIII. Both Russia and China are entering economic decline and need to distract their citizens. Both are becoming more truculent. And as in the late 1930’s, Europe and North America are in economic doldrums. The Great War followed the Great Depression; is history repeating?

We have no idea. But the U.S. seems to love wars, seldom being without one for any length of time; Russia and China are little different in that and the politicians in those and other places are facing increasing need of distractions from their ineptitude and greed. Media speculation is rising.

Governments all over the earth are mired so deeply in debt that only decades of poverty seem to lie ahead before these loads can be honestly alleviated while a nice little war could ‘justify’ dumping the whole troubling burden in one as they once said, fell swoop. For politicians, it may seem an easy way out. For the real lives of real people, it is no less illusory than the promised rewards of giant, all powerful governments.

At the moment, President Obama is denigrated for not resolving what U.S. intervention in the Middle East has created by new intervention, never mind that there is no money to fund it. One way or another, ISIS is a product of U.S. policy, just as is present day Iran. But politicians almost always demand more of failing policies to correct the failure:  Mayor of Chicago Rham Emanuel just said that the city’s disastrously failed,  strict  gun controls must be replaced with more restrictions.

Russia’s President Putin is rattling his nukes over the possibility of NATO interference with his conquest of Ukraine. Add those to Chin’s threat over the Spratlys. Add too the E.U. seams widening as Greeks refuse to honor their debts while others little better off, watch.

We’re watching the U.S. stock market; it seems to be pursuing its Wiley E. Coyote moment ever more closely. We hope that it can struggle along on thin air for a long time, fearing the events that its next collapse will precipitate.

We hope, but we aren’t willing to bet. Reality sucks … try some cash, gold or silver and a little wine. At least one or two of those may help at some point …

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About Jack Curtis

Suspicious of government, doubtful of economics, fond of figure skating (but the off-ice part, not so much)
This entry was posted in Economics, Government, Politics and tagged , , . Bookmark the permalink.

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