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Tuesday, September 16, 2008
Market Dropping - War on Terror to Get Serious?
If you are waking up this morning and checking in with the markets, things are still dropping. European markets have been down all morning on concerns over the massive insurer AIG which has a trillion dollar balance sheet.
Oil continues to drop this morning and is right now at $92.76.
It is going to be a long day for finance. As its September 15, just 4 days after the anniversary of 9/11, I can't help but think that I do not want to see the terrorist win by defeating us financially.
People have been talking about how the people of the United States have not really gotten involved in the War on Terror, in part because we did not have to field a personal and direct price. I would agree that this is mostly true for most Americans due to the way that our country went to war.
That said, as the markets move towards directions that have not been witnessed since the precursors to the Great Depression, I can't help but think that there will really be hell to pay once Americans do have to pay a personal price. Americans may have gotten a little bent out of shape on 9/11/2001, but I suspect that in retrospect that will be nothing compared to what will come as a consequence of multiple years of very high oil prices.
Mobile post sent by brettbum using Utterz. Oil continues to drop this morning and is right now at $92.76.
It is going to be a long day for finance. As its September 15, just 4 days after the anniversary of 9/11, I can't help but think that I do not want to see the terrorist win by defeating us financially.
People have been talking about how the people of the United States have not really gotten involved in the War on Terror, in part because we did not have to field a personal and direct price. I would agree that this is mostly true for most Americans due to the way that our country went to war.
That said, as the markets move towards directions that have not been witnessed since the precursors to the Great Depression, I can't help but think that there will really be hell to pay once Americans do have to pay a personal price. Americans may have gotten a little bent out of shape on 9/11/2001, but I suspect that in retrospect that will be nothing compared to what will come as a consequence of multiple years of very high oil prices.
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3 comments:
The War on Terrorism is a Lie
The war on terrorism is a lie because terrorism is not an enemy, it is a strategy.
Terrorism is a strategy employed by weaker states and non-state actors when fighting an asymmetric war against a more powerful opponent.
No state or non-state actor enters a conventional war against an enemy it has no chance of defeating conventionally.
Since the U.S. has declared that it will maintain military superiority without challenge, it has done everything in its power to do just that. The US defense budget for 2008 is some $700 billion. There is no single state or non-state actor on this planet that can defeat the United States in a conventional war.
Therefore, any single state or non-state actor that finds itself at war with the United States will be forced to fight an asymmetric war. That is, it will be forced to employ terrorism.
Therefore the war on terrorism is a war against anyone at war with the United States. Therefore the war on terrorism is a lie. It is not a war on terrorism at all, but a war to promote and defend US imperialism.
Hey John,
I do agree with you, but basically you help make my point in my opinion.
We are essentially employing a very expensive strategy against a very cheap strategy.
In doing so we are basically boxing a prize fighting ghost against another ghost and bankrupting ourselves in the process.
The terrorists just scored a derivative win in the battle of strategies this week after fear and uncertainties impact on oil and energy brought a new reality home to Wall Street, exposing a weakness in our own system.
Bringing down the twin towers was akin to poking a thorn into the dragon's paw, which caused the dragon to stand on its hind legs and now there is an arrow sticking out of the dragons soft underbelly.
Chalk up another victory for the military industrial complex. Kennedy warned us and nobody listened.