Presentation is loading. Please wait.

Presentation is loading. Please wait.

WAR DRIVES DEBT; DEBT DRIVES WAR Reasons to Kill: Why Americans Choose War, Richard Rubenstein,2010 Rogue State and Killing Hope — William Blum

Similar presentations


Presentation on theme: "WAR DRIVES DEBT; DEBT DRIVES WAR Reasons to Kill: Why Americans Choose War, Richard Rubenstein,2010 Rogue State and Killing Hope — William Blum"— Presentation transcript:

1

2 WAR DRIVES DEBT; DEBT DRIVES WAR

3 Reasons to Kill: Why Americans Choose War, Richard Rubenstein,2010 Rogue State and Killing Hope — William Blum tionism.html

4

5

6 William III (of Orange) (1650 – 1702) Bank of England …original Subscribers of the said Sum of Twelve Hundred Thousand Pounds so subscribed, … shall have, or be entitled to any Part, Share, or Interest of or in the Principal or Capital Stock of the said Corporation, or the said yearly Fond of One Hundred Thousand Pounds, granted by the said Act of Parliament,… — Charter B of E

7 Access. Wm. III 1600 An Inquiry into the Permanent Causes of the Decline and Fall of Powerful and Wealthy Nations — William Playfair, yrs. war Amer. war

8 First Bank of the United States Founded 1791 Permanent address completed in 1797

9 U. S. Treasury Historical Debt Outstanding

10 1E+6 1E+9 1E+6 1E+9 1E – 2012(non-linear) U. S. Treasury Historical Debt Outstanding

11 1E+6 1E+9 1E+6 1E+9 1E – 2012(non-linear) War of 1812 Mex. Amer. War Civil War WW I WW II U. S. Treasury Historical Debt Outstanding

12 WAR OF 1812 U. S. Treasury Historical Debt Outstanding End of 2 nd Bank End of 1 st Bank

13 U. S. Treasury Historical Debt Outstanding Mex. Amer. War

14 Civil War U. S. Treasury Historical Debt Outstanding

15 Spanish American War

16 U. S. Treasury Historical Debt Outstanding WWI

17 U. S. Treasury Historical Debt Outstanding WWII

18 ACCUMULATED WAR DEBT thru WWII War of 1812 Mexican American War 01/01/ ,334, /01/ ,061, /01/ ,209, /01/ ,925, ,125, ,136, Civil War Spanish American War 07/01/1866 2,773,236, /01/1900 2,136,961, /01/ ,842, /01/1898 1,796,531, ,708,393, ,429, WWI WWII 07/01/ ,390,970, /28/ ,422,099, /01/1913 2,916,204, /30/ ,439,532, ,474,765, ,982,566, ,125, ,136, ,708,393, ,429, ,474,765, ,982,566, $256,553,291, U. S. Treasury Historical Debt Outstanding

19 WAR DRIVES DEBT

20 U. S. Treasury Historical Debt Outstanding Korean War Viet Nam War

21 Dollars Desert Storm Kosovo Continuous war

22 John Maynard Keynes In the long run, we are all dead.

23 Memories of 1937, when concern for a balanced budget had led to both tax increases and expenditure reductions at a time when the unemployment rate, while declining, was still very high, were still strong. That action subsequently was viewed widely as the reason for the 1937 – 1938 contraction and the persistence of depression conditions until the onset of World War II stimulated spending and led to previously unmatched budgetary deficits. — The Rediscovery of the Business Cycle, 1978 Paul A. Volcker, former Chairman of the Federal Reserve Board of Governors.

24 …we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military- industrial complex. — “Farewell Address”, 1961 Dwight David Eisenhower, 34 th U. S. President

25 …we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the [financial]- military- industrial complex. — “Farewell Address”, 1961 Dwight David Eisenhower, 34 th U. S. President

26 Korean War Viet Nam War Desert Storm Continuous War Kosovo U. S. Treasury Historical Debt Outstanding

27 FEATURES OF MILITARISM AS POLITICAL ECONOMY Must have enemies and will create them.

28 FEATURES OF MILITARISM AS POLITICAL ECONOMY Must have enemies and will create them. Military professionals need war on their résumés.

29 FEATURES OF MILITARISM AS POLITICAL ECONOMY Must have enemies and will create them. Military professionals need war on their résumés. War production creates millions of jobs, military and civilian.

30 FEATURES OF MILITARISM AS POLITICAL ECONOMY Must have enemies and will create them. Military professionals need war on their résumés. War production creates millions of jobs, military and civilian. War contracts are pork barrel for Congresspersons.

31 FEATURES OF MILITARISM AS POLITICAL ECONOMY Must have enemies and will create them. Military professionals need war on their résumés. War production creates millions of jobs, military and civilian. War contracts are pork barrel for Congresspersons. War profits support campaign contributions (bribes).

32 FEATURES OF MILITARISM AS POLITICAL ECONOMY Must have enemies and will create them. Military professionals need war on their résumés. War production creates millions of jobs, military and civilian. War contracts are pork barrel for Congresspersons. War profits support campaign contributions (bribes). Military research contracts corrupt educational institutions.

33 FEATURES OF MILITARISM AS POLITICAL ECONOMY Must have enemies and will create them. Military professionals need war on their résumés. War production creates millions of jobs, military and civilian. War contracts are pork barrel for Congresspersons. War profits support campaign contributions (bribes). Military research contracts corrupt educational institutions. Deficit spending is more palatable in war emergency.

34 FEATURES OF MILITARISM AS POLITICAL ECONOMY Must have enemies and will create them. Military professionals need war on their résumés. War production creates millions of jobs, military and civilian. War contracts are pork barrel for Congresspersons. War profits support campaign contributions (bribes). Military research contracts corrupt educational institutions. Deficit spending is more palatable in war emergency. Deficit spending on war keeps unsustainable economy going.

35 FEATURES OF MILITARISM AS POLITICAL ECONOMY Must have enemies and will create them. Military professionals need war on their résumés. War production creates millions of jobs, military and civilian. War contracts are pork barrel for Congresspersons. War profits support campaign contributions (bribes). Military research contracts corrupt educational institutions. Deficit spending is more palatable in war emergency. Deficit spending on war keeps unsustainable economy going. Military suppliers own media.

36 ASSYMETRICAL WARFARE

37 INTEREST EXPENSE Available Historical Data Fiscal Year End 2012……. $359,796,008, ……. $454,393,280, ……. $413,954,825, ……. $383,071,060, Interest Expense Fiscal Year 2013 June ………………….. $93,031,790, May ………………….. $24,378,480, April ………………….. $35,951,751, March ……………….. $23,472,400, February …………… $16,901,310, January …………….. $17,816,590, December …………. $95,736,594, November …………. $25,068,968, October …………….. $12,922,741, Fiscal Year Total.. $345,280,629, Total interest this page… $ trillion U. S. Treasury website

38 Federal Reserve Bulletin $ trillion $ (intragovernmental debt)$4.814 = $ trillion

39 U. S. Treasury Historical Debt Outstanding RECESSIONS Continuing poor economy

40

41 DEBT DRIVES WAR

42 WAR DRIVES DEBT; DEBT DRIVES WAR

43


Download ppt "WAR DRIVES DEBT; DEBT DRIVES WAR Reasons to Kill: Why Americans Choose War, Richard Rubenstein,2010 Rogue State and Killing Hope — William Blum"

Similar presentations


Ads by Google