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Local News & Opinion
07.03 Notice for Extension of Unemployment Insurance Benefits Travel
07.02 A Cost-Saving Way to Travel: Rent a House Books, Arts & Education
Letters
Ref. : Letters to the editor Open Letters:
06.30 An Open Letter to Barack Obama Health & Environment
Media Watching
07.17 Corporate Media Blackouts Continue as Iran War Looms and Impeachment Moves Ahead 07.17 The Pentagon and the Hunt for Black Gold 07.16 Washington Post's McCain-Friendly Poll 07.15 You Can’t Tell a Magazine by Its Cover Or A Candidate by His Rhetoric 07.09 The Forgotten: Somalia's American-Made Road to Perdition 07.03 Press distorts Clark’s comments 06.30 Iran-Contra's 'Lost Chapter' 06.27 Robert McChesney's The Political Economy of Media (Part II) 06.25 Robert McChesney's The Political Economy of Media (Part I) 06.20 Remembering Russert US Politics, Policy & Culture
07.18 Making Americans Unsafe 07.18 I Was a Victim of the Government’s Absurd and Over-Hyped War on Terror 07.15 Thinking About Safety 07.15 The High Cost of Bush's Iraq Gambit 07.11 McCain's Nomination - A Possible September Surprise? 07.07 Is Barack Obama Patriotic? Is Any Politician? 07.07 Obama's FISA Statement is a Mess (Just like his Stand on Faith-based Programs) 07.07 Campaign Notes: Of Flip-Flops and Fly-Bys 07.07 Supreme Court, Inc.: Supremely Pro-Business 07.03 The Real Meaning of the Fourth of July 07.03 Three Amigos: Bush, McCain, Obama Draw a Blood-Red Line on Iran 07.02 Rep. Ron Paul Assails Congress's "Virtual Iran War Resolution 07.02 How Ignorant Are We? 06.28 Primary Season Over, Barack Channels Hillary 06.27 Senate Overwhelmingly Approves Bill to Fund Iraq War Until Mid-2009 06.27 Defending the President as Tyrant 06.25 Critical Malfunction: Misreading Gore Vidal 06.23 Campaign Finance Reform Has Failed 06.23 Thinking About Flip-Flops 06.23 Heat Waves: Burning Off the Fog of the FISA Fiasco 06.23 Alarm over 'Unfair' Campaign Money 06.23 The Supreme Court, Habeas, John Yoo and Murdoch's Wall Street Journal 06.20 Keeping America Safe from Child "Terrorists" 06.20 SuperCorridor Defeat? Don't Bet On It US High Crimes & Misdemeanors
07.19 'Justifying' Torture: Two Big Lies 07.18 Torture As Official US Policy 07.16 Bush Asserts Exec Privilege; Blocks DOJ From Releasing CIA Leak Documents 07.16 Impeachment Hearings: A Win is a Win 07.15 Torture for the Torturers 07.14 Imperial Wizards: The Nangarhar Massacre and U.S. Plans for Central Asia 07.12 Kucinich Pushes on Impeachment 07.11 Disorderly Conduct: Subverting the Bipartisan Paradigm on Iraq 07.10 Mukasey: Bush's New 'Mr. Cover-up' 07.09 Legitimizing Permanent Occupation of Iraq 07.08 Buchanan, MacDonogh, Pilger Books Explode Illusion Of American Exceptionalism 07.07 Bush-Cheney Crony Got Iraq Oil Deal 07.07 Keeping Count (When Ours Goes Down, Theirs Goes Up) 07.02 Iraq Oil Deals Fulfill Cheney's Goals 07.02 Bush's 'Wonderland' Logic 06.30 Operation Horse's Head: U.S. Raid Sends Message on Iraq "Agreement" 06.30 Invisible Hand: Washington Role in Iraq Oil Deal Revealed 06.27 It Was Oil, All Along 06.27 Big Dog, Little Tail: The American Elite Resolves on War With Iran 06.26 A Totally Lawless Regime 06.23 Top Dems Hand Bush Key Victories 06.23 Democrats Legalize Bush's Crimes 06.20 Torturegate: Truth, But No Consequences 06.20 Bomb Iran? What's to Stop Us? Economics & Business
07.11 Running on Empty 07.10 A Work Force Betrayed 07.08 Paul Krugman and Blindness About the War and the Economy 07.07 Thinking About Turnarounds 06.30 Thinking about Dependence 06.26 Health-Care Crisis Endangers Economy International
07.17 Renunciation and Escalation: Conflicting Tides in the Terror War 07.16 Maliki's 'Timetable' Shakes Iraq Debate 07.16 Drought and Israeli Policy Threaten West Bank Water Security 07.14 Enabling Tyranny—Brigitte Bardot And Other Victims 07.14 Duce Bags: Italy Leads Fascist Revanche in Western Democracies We are a non-profit Internet-only newspaper publication founded in 1973. Your donation is essential to our survival.
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BOOK REVIEW AND COMMENTARY:New Buchanan Book: Anglo-American Ascendancy Lost in Unnecessary WarsWhen the dollar loses its reserve currency role, foreign financing for US trade and budget deficits will evaporate. US living standards will collapse, and the indispensable omnipower will be just another washed up country.
May 12, 2008—In a new book that will infuriate
the fake conservatives who inhabit the Republican Party,
Patrick J. Buchanan documents how British
self-righteousness, delusion, and hubris destroyed both
the British Empire and Western ascendancy in two
unnecessary wars launched by a small cabal of morons
that ruled Britain Churchill, Hitler, and the Unnecessary War Buchanan cites such British notables as F.J.P. Veale, B.H. Liddell Hart, and C.P. Snow to document that it was Winston Churchill who committed, in Veale's words, "the first deliberate breach of the fundamental rule of civilized warfare that hostilities must only be waged against the enemy combatant forces." It was Churchill, not Hitler, who first targeted civilian populations in World War II and caused the structure of civilized warfare to collapse in ruins. The Americans quickly adopted Churchill's criminal policy of attacking civilians, culminating in the outrageous use of nuclear weapons against two Japanese cities, the slaughter of Vietnamese civilians, and the ongoing slaughter of Afghan and Iraqi civilians. A popular American myth is that "the greatest generation" saved the world from Nazi tyranny. As Buchanan points out, the fact of the matter is that the Normandy invasion in June 1944 played little, if any, role in Germany's defeat. By the end of 1942 Hitler had lost World War II at Stalingrad, long before any American troops appeared on the scene. What the Normandy invasion achieved 18 months later was to keep the Red Army from over-running all of Europe. Although Buchanan's book is about how the British destroyed themselves, Buchanan is clearly thinking about America. In the closing pages Buchanan shows how the Bush Regime has broken from the sound policy of President Reagan and is replicating the British folly of self-destruction. "There is hardly a blunder of the British Empire we have not replicated," laments Buchanan. The distinct American hubris that we are "the indispensable nation" and the braggadocio that we are an "omnipower" has us overcommitted in alliances that we cannot fulfill. Despite 25 percent of the Iraqi population killed, injured or displaced, the "world's only superpower" cannot even control Baghdad. To deal with the pointless war we started in Afghanistan, we have had to sucker our NATO allies into a conflict that is no concern of theirs. Militarily overextended and with a faltering economy and collapsing currency, the cabal of morons that rules America still hopes to attack Iran, Syria, and to drive Hezbollah from Lebanon. American idiots in think tanks are busy at work drawing up plans about how the US is going to check China and prevent her emergence as a power beyond US control. The Republican presidential candidate has boasted that he will challenge Russia and bring Putin to heel. Amazing. The world's greatest debtor is going to take on the two powerful countries with the largest trade surpluses. According to the World Factbook, an annual publication of the CIA, Russia's 2007 current account surplus is $465 billion and China's is $363 billion. In contrast, the US current account deficit is $987 billion-an amount larger that the total deficits of all other countries in the world combined. The out-of-pocket and already incurred future cost of Bush's wars of aggression is between $3 and $5 trillion, every dollar of which must be borrowed. That comes on top of the unfunded liabilities of the US government totaling $53 trillion. By any account the US is the world's worst credit risk. The "mighty" US relies on foreigners to finance its consumption, its wars, and the daily operations of its government. When Buchanan looks at the collection of idiots that comprise America's ruling class, he despairs. In truth, American power is already broken, and the country is already lost. The country is lost, because the brownshirt Bush Regime has destroyed the US Constitution with the complicity of the opposition party and the federal courts. There is no organized power that can restore the Constitution or even much concern that it has been overthrown. The country is broken, because American capitalists have moved offshore so many US manufacturing, engineering, and research jobs that US imports now exceed US industrial production. American dependency on imported manufactured goods, advanced technology goods, and energy is astounding. Moreover, the dependency is escalating dramatically. In March 2002, prior to Bush's decision to impose Israel's will on the Middle East, oil was $25 a barrel. Today oil is $125 a barrel, a five-fold increase that has seen our oil import bill rise from $145 billion in 2006 to $456 billion presently, a $300 billion addition to a trade deficit that was already running $700-$800 billion annually. There is no possibility of the US closing its trade deficit. The US is able to survive such enormous deficits only because the US dollar is the world reserve currency. This role for the dollar is nearing an end as the world looks for more stable stores of value. Although oil is still nominally priced in dollars, in reality it is being priced in euros as oil producers raise the dollar price with a view to keeping their oil revenues at a constant purchasing power in euros. When the dollar loses its reserve currency role, foreign financing for US trade and budget deficits will evaporate. US living standards will collapse, and the indispensable omnipower will be just another washed up country. For a world weary of "American exceptionalism," this can't happen too soon. Paul Craig Roberts is an economist who served as an Assistant Secretary of the Treasury in the Reagan Administration earning fame as the "Father of Reaganomics". He is a former editor and columnist for the Wall Street Journal, Business Week, and Scripps Howard News Service. He is the author of
Supply-Side Revolution: An Insider's Account of Policymaking in WashingtonThis article is published in the Baltimore Chronicle with permission of the author. Copyright © 2008 The Baltimore News Network. All rights reserved.
Republication or redistribution of Baltimore Chronicle content is expressly prohibited without their prior written consent. Baltimore News Network, Inc., sponsor of this web site, is a nonprofit organization and does not make political endorsements. The opinions expressed in stories posted on this web site are the authors' own. This story was published on May 13, 2008. |
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