Offense Spending
Trillions of your hard-earned tax dollars at work... building machines of war.
(The Patton M48. Source: Getty Images)
Bill Bonner, reckoning today from San Martin, Argentina...
The mainstream press cheerfully reported that inflation seems to be “leveling off.” That was after January numbers were adjusted upwards, leaving February – still in double digits – looking less awful. Breitbart:
Producer Prices Rise 10% for Second Straight Month
The Department of Labor said its Producer Price Index rose 0.8 percent in February compared with a month earlier. That’s a slowdown from the 1.2 percent month-over-month rise in January, revised up from one percent.
The stock market roared its approval – with the Dow up almost 600 points yesterday. America will wage its sanctions war against Russia… not against inflation.
Our subject this week has been the elite’s curious obsession with the Russo-Ukrainian war… and how it connects to America’s inflationary decline.
Here at BPR we have no interest in criticizing US foreign policy. It is obviously asinine; we won’t waste our time.
And please don’t waste your time imagining that we are Russian assets ourselves. We are not now, nor have we ever been, an agent for the Russian Federation. We’ve never met Mr. Putin and we won’t be giving out any Russian propaganda… at least until the check from him clears.
In the meantime, we connect the dots, without prejudice. And they lead us to a fuller picture, not only of what is ahead for US inflation… but what is wrong with the ‘liberal world order’ that the US is so eager to promote. But we’ll get to that on Friday (tomorrow, we are going to visit the widow of our farmhand who drowned in the reservoir).
Today, we look at the many things that the US sanctions against Russia and military aid to Ukraine will not achieve.
A Not-To-Do List
They will not protect America; the US is no way in danger. (Though it puts itself in danger by confronting Moscow.)
They will not protect our families; they are far, far out of harm’s way.
They will not make us richer; Americans will almost certainly end up poorer.
They will not establish the principle of sovereign independence or the sanctity of borders. Americans don’t care about other countries’ independence; US forces have invaded 70 different countries since its own independence.
They will not save lives; the more aid to Ukrainians, the longer it will take for them to work out a compromise with the Russians… and the more people will die.
Then what? What are we fighting for?
We will answer that question more fully on Friday. For today, we turn to the rock-em, sock-em world of internet chatter for sarcasm and cynicism:
The Democrats asked for $10 billion in aid to send to Ukraine. The Republicans upped it to $12 billion. We need all patriots to get on board and up the aid. Why did the Democrats ask for less? Did Putin buy them off? We need to get behind our favorite neo-con war hawks like Lindsay Graham, Mark Rubio and Tom Cotton. Those who don’t are isolationists and Putin apologists. Now is the time for the only thing Republicans and Democrats agree on, foreign policy adventures and WAR!
You are either with us, or with the Russians. Anyone trying to understand this conflict, seek out different perspectives, understand the history of the region, seek information counter to the Western media narrative (just listen to the "fact checkers" and shut up) is obviously a Putin stooge who supports the invasion. Anyone sending links to this email chain that questions the logic of trying to start World War 3 (That crazy right wing fanatic Tucker Carlson, being against conflict with a nuclear power, would almost mistake him for an anti-war hippie) and advocates for a diplomatic solution should be automatically put on a list of potential Russian infiltrators.
Russia, Russia, Russia! Putin, Putin, Putin! And here comes the money! From the same thread:
Did anyone note the House passage of the one point five trillion funding bill noticed at 12:30am today for a 1:30am committee vote approved at 2:30am? Almost 3,000 pages of spending to be passed today without prior notice to the balance of Congress. Let’s pass it so we can find out what’s in it! That seems to work out for us pretty well doesn’t it?
Another ‘Putin stooge’ has his say:
Any time there is a crisis such as this, it is a good time for Congress to pass giant spending packages. That is where there is money to be made, where friends can be rewarded, where cash flows can circle back, and political favors can be curried. This is what Congress lives for.
Pentagon Pay Day
The Washington elite spent years trying to tag Russia – which has an economy about the size of the Greater New York City area – as a mortal enemy. US meddling in Ukraine politics (including Lindsay Graham’s star performance in Kyiv, when he promised US backing in a fight with Putin) goaded the Kremlin to action.
And now comes the pay day. Here’s the Jerusalem Post:
Arms Sales to Europe Skyrocket as Tensions with Russia Reach an All-time High
And here’s National Defense Strategy stating the obvious:
Next US defense budget will get a boost due to Ukraine invasion: Pentagon comptroller
A wild card for the months ahead is the trajectory of the war in Ukraine, as the Defense Department may need additional money for FY22 and FY23 if Defense Secretary Lloyd Austin orders further troop deployments to Eastern Europe.
Under cover of this new threat, whatever it is, the price of defense stocks has gone way up. Last November, a share of Lockheed Martin would have set you back $326. Yesterday, it was $444.
Hooray! Victory!
Meanwhile, prices rise…and time runs out.
More to come…
Bill Bonner
Whatever you think of Ukraine, our own house is on fire while we send the bucket brigade to another house. We have an invasion of our own border that goes unreported by the alphabet media. We have an economy in crisis, skyrocketing crime, and perhaps worst of all we have burgeoning crises in our own military and health care systems that have been caused by our own government and are also largely unreported. We have a moral crisis of major proportions affecting our schools and our children. America has internal enemies that have and are doing more damage to America than Putin has done to Ukraine. So tell me why I am supposed to be more upset and energized about what is going on in Ukraine than what is going on right here in my own country? The fact that my elected representatives seem more interested in Ukraine than America is an abomination and highly offensive to me. Where is the $12 Billion in aid for OUR border, where OUR invasion is taking place? Who is coming to the aid of Texas border ranchers who sit with their families every night in their homes with all the lights turned out, weapons on the tables next to them? I could go on and on. What is happening inside this once great nation of America is the most degenerate and disgusting thing imaginable. Crickets from our politicians and the fourth estate who are supposed to protect us. God help us!
Another excellent article Bill! As alway's, thank you for your hidden advice, well written into your post, for those who have the insight to read between the lines. For the other dear readers, who just read without seeing, continue on your path in life and wish you well.
Russia is weak, but has real weapons of mass destruction, that we really wouldn't appreciate seeing in our part of the hemisphere. Keep on poking the bear, and it's a question of when it will bite you.
I understand those who live in the past, and dream of America's once super power status, and how incredible our strength was. The day's when we could destroy one of the most powerful armies in the Middle East in one day. When the thought of provoking America would make Xi and Putin cringe in fear. They have caught up, and even surpassed us in technology, thanks to the same corporations that created the monsters and now cry for war with those same monsters as they continue to make billions.
While our generals were busy fighting for "equity" and helping our men change into women, their equals were busy training their men to fight.
Yes, elections have consequences, especially corrupt elections, and as our Military, FBI and CIA were being purged of it's finest American's, and replaced with corrupt progressives who promote wokism over patriotism, our enemies supported the insanity of our those same fake leaders they helped place into power. They are treasonous. They are bought and paid for by China, and will do whatever told.
I always believed Liberalism was a mental disorder, but now realize it's a well planned conspiracy, created by those who want America destroyed, and supported by those who have been indoctrinated to believe in the lies they hear, or are just useful idiots that honestly don't know better.
War is not an option for this current America. Yes, we can continue to send money and weapons to extend the suffering of the Ukrainians, and the wealth of those pushing the insanity, but as more innocent die, more evil profit.