FacebookTwitterGoogle+RedditEmail

The End of Something

by THOMAS H. NAYLOR

The euro is going down and may take the 17 nation euro zone with it, if not the entire 28 nation European Union.  Or maybe it will be the other way around?  Does it really matter?

Having never recovered from the 2008 recession, the collapse of the euro will drive the U.S. economy deeper into the quagmire of more unemployment, negative economic growth, schizophrenic fiscal policy, Congressional gridlock, inflationary monetary policy, and the rout of the dollar.  Is it possible that whatever the White House, the Congress, or the Fed may do will make not one whit of a difference?

To deflect public opinion away from their incompetence and corruption the White House, the Congress, the Fed, the European Central Bank, and all of the political leaders of Europe need an international scapegoat.  What could be better than a war against some unpopular rogue state such as Cuba, Iran, North Korea, or Venezuela whose leader is considered by many Americans to be demonic.

Enter Israeli Prime Minister Benjamin Netanyahu bearing gifts for American and European political leaders.  “Have I got a deal for you,” says Netanyahu.  “Why don’t NATO and its Arab allies take out the nuclear weapons program of the terrorist state of Iran?  It would divert the attention of the American and European people away from their economic woes.  Everyone (except the Iranians) would gain.”

With the demise of Saddam Hussein, Osama bin Laden, Muammar Qadhafi, and Kim Jong Il, there are few demons left with whom to wage war.  Bringing down Iranian President Mahmoud Ahmadinejad would significantly enhance Barack Obama’s chances for re-election in 2012 and help preserve the political status quo in Europe despite the economic turmoil.

And then what?  Iran is no Iraq.  This would not be kid’s stuff.  For starters, Iran has some very influential friends, not the least of which are Russia and China, who would be unamused by such an attack.

Unless the NATO strikes severely inhibit Iran’s ability to respond militarily, one could expect almost instantaneous retaliation by Iran in the Persian Gulf, closing down the Strait of Hormuz as well as oil production in Saudi Arabia, Kuwait, and Iraq.  This would effectively shut down the global economy.  If Iran were not in a position to respond militarily, then either Russia or China might do so.  They would perceive an attack on Iran to be a major threat to their national security.  China could always opt to pull the plug on the trillion dollar or so investment which it holds in U.S. Treasury bonds sending the U.S. economy into an even further death spiral.  China could also offer to help refinance the European economy thus driving a permanent wedge between Europe and the United States.  Russia might cut off the supply of natural gas to Europe as well.

And if Russia or China retaliates on behalf of Iran, how might the United States respond?  I think it is quite likely that the American Empire would launch missile strikes against Moscow or Beijing depending on the circumstances.  And since the White House and the State Department love to proclaim that all options will be on the table, one cannot rule out the possible deployment of nuclear weapons by missiles targeted at Moscow and Beijing.

Could this be the beginning of the endgame?  If so, so what?

Maybe Meursault, the Algerian clerk who narrated Albert Camus’s famous novel The Stranger and who was sentenced to death for murdering an Arab, said it all upon the death of his mother:

Mother died today.  Or, maybe, yesterday; I can’t be sure.  The telegram from the Home says:  YOUR MOTHER PASSED AWAY. FUNERAL TOMORROW.  DEEP SYMPATHY.  Which leaves the  matter doubtful; it could have been yesterday.

Thomas H. Naylor is Founder of the Second Vermont Republic and Professor Emeritus of Economics at Duke University; co-author of AffluenzaDownsizing the U.S.A., and The Search for Meaning.


More articles by:
May 25, 2016
Eric Draitser
Obama in Hiroshima: A Case Study in Hypocrisy
Ryan Mallett-Outtrim
Does Venezuela’s Crisis Prove Socialism Doesn’t Work?
Dan Arel
The Socialist Revolution Beyond Sanders and the Democratic Party
Marc Estrin
Cocky-Doody Politics and World Affairs
Sam Husseini
Layers of Islamophobia: Do Liberals Care That Hillary Returned “Muslim Money”?
Susan Babbitt
Invisible in Life, Invisible in Death: How Information Becomes Useless
Mel Gurtov
Hillary’s Cowgirl Diplomacy?
Kathy Kelly
Hammering for Peace
Dick Reavis
The Impeachment of Donald Trump
Wahid Azal
Behind the Politics of a Current Brouhaha in Iran: an Ex-President Ayatollah’s Daughter and the Baha’is
Jesse Jackson
Obama Must Recommit to Eliminating Nuclear Arms
Colin Todhunter
From the Green Revolution to GMOs: Living in the Shadow of Global Agribusiness
Binoy Kampmark
Turkey as Terror: the Role of Ankara in the Brexit Referendum
Dave Lindorff
72-Year-Old Fringe Left Candidate Wins Presidency in Austrian Run-Off Election
May 24, 2016
Sharmini Peries - Michael Hudson
The Financial Invasion of Greece
Jonathan Cook
Religious Zealots Ready for Takeover of Israeli Army
Ted Rall
Why I Am #NeverHillary
Mari Jo Buhle – Paul Buhle
Television Meets History
Robert Hunziker
Troika Heat-Seeking Missile Destroys Greece
Judy Gumbo
May Day Road Trip: 1968 – 2016
Colin Todhunter
Cheerleader for US Aggression, Pushing the World to the Nuclear Brink
Jeremy Brecher
This is What Insurgency Looks Like
Jonathan Latham
Unsafe at Any Dose: Chemical Safety Failures from DDT to Glyphosate to BPA
Binoy Kampmark
Suing Russia: Litigating over MH17
Dave Lindorff
Europe, the US and the Politics of Pissing and Being Pissed
Matt Peppe
Cashing In at the Race Track While Facing Charges of “Abusive” Lending Practices
Gilbert Mercier
If Bernie Sanders Is Real, He Will Run as an Independent
Peter Bohmer
A Year Later! The Struggle for Justice Continues!
Dave Welsh
Police Chief Fired in Victory for the Frisco 500
May 23, 2016
Conn Hallinan
European Union: a House Divided
Paul Buhle
Labor’s Sell-Out and the Sanders Campaign
Uri Avnery
Israeli Weimar: It Can Happen Here
John Stauber
Why Bernie was Busted From the Beginning
James Bovard
Obama’s Biggest Corruption Charade
Joseph Mangano – Janette D. Sherman
Indian Point Nuclear Plant: It Doesn’t Take a Meltdown to Harm Local Residents
Desiree Hellegers
“Energy Without Injury”: From Redwood Summer to Break Free via Occupy Wall Street
Lawrence Davidson
The Unraveling of Zionism?
Patrick Cockburn
Why Visa Waivers are Dangerous for Turks
Robert Koehler
Rethinking Criminal Justice
Lawrence Wittner
The Return of Democratic Socialism
Ha-Joon Chang
What Britain Forgot: Making Things Matters
John V. Walsh
Only Donald Trump Raises Five “Fundamental and Urgent” Foreign Policy Questions: Stephen F. Cohen Bemoans MSM’s Dismissal of Trump’s Queries
Andrew Stewart
The Occupation of the American Mind: a Film That Palestinians Deserve
Nyla Ali Khan
The Vulnerable Repositories of Honor in Kashmir
Weekend Edition
May 20, 2016
Friday - Sunday
Rob Urie
Hillary Clinton and Political Violence
FacebookTwitterGoogle+RedditEmail