The Warfare State Rules the US . . .

[redcliffsw]

Keynesian Myths, Monetary Central Planning and The Triumph of The Warfare State

By the late 1970s, moreover, Washington had become so mesmerized by the Keynesian predicate—that is, the notion that the state must constantly maneuver to levitate the GDP—that it didn't even know that American prosperity did not depend on carrier battle groups cruising the straits of Hormuz or alliances with despots.

Now caught up fueling a repetitive and destructive cycle of financial bubbles and busts, the Greenspan-Bernanke-Yellen Fed has taken monetary central planning into the deep waters of wanton monetization of the public debt.

Under these circumstances there is no fiscal governance—-just an inexorable drift toward monetary catastrophe. In the interim, our senseless and dangerous trillion dollar Warfare State rolls on.

Keynesian statism and monetary central planning  have triumphed, meaning that the American Republic has no remaining fiscal defenses, nor immunities from its extractions.

The good Ben (Franklin that is) said," Sir you have a Republic if you can keep it".
-David Stockman

Read on:
http://www.lewrockwell.com/2014/03/david-stockman/the-warfare-state%e2%80%a8-rules-the-us/