World War Forever

The War on Terror laid the groundwork for the ‘Forever War’ we see taking shape. ‘You’re either with us or against us,’ said George W. Bush. One side or the other.

Friday, September 27^th, 2024 

Bill Bonner, writing today from Youghal, Ireland  

In as much as we may be on the edge of WWForever... and maybe at the beginning of a mass extinction event... perhaps it is worth spending a few minutes to consider what is going on. 

Wednesday brought this news from Dave DeCamp: 

Israeli Military Chief ‘Preparing’ for Ground Offensive in Lebanon 

Lt. Gen. Herzi Halevi, chief of staff of the Israeli Defense Forces (IDF), said Wednesday that the Israeli military was “preparing” for a potential ground offensive in Lebanon. 

Halevi told a group of IDF soldiers that their “military boots will enter enemy territory” and said Israeli airstrikes in Lebanon are part of the preparations for a ground invasion. 

On Thursday came this update: 

Israel Rejects US-Backed Ceasefire Proposal, Continues To Pound Lebanon 

Israel on Thursday rejected a US and French proposal for a ceasefire in Lebanon and continued to launch heavy airstrikes in the country. 

The US and France are calling for a 21-day ceasefire, but the US continues to provide military aid to Israel and is vowing to defend Israel if the situation escalates, giving Prime Minister Benjamin Netanyahu no incentive to stop his new bombing campaign. 

Followed by this post: 

US Gives Israel $8.7 Billion in Military Aid for Operations in Gaza and Lebanon 

The new aid comes as the US claims it's pushing for a ceasefire in Lebanon 

On Thursday, the Israeli Defense Ministry announced that it secured $8.7 billion in military aid from the US to support its “ongoing military efforts...” 

It would be easy to stop both wars — in Lebanon/Gaza... and in the Ukraine/Russia. The Biden Team could do so in a single zoom call. 

‘Hey guys,’ Anthony Blinken might say, ‘we’re out.’ Within weeks, the warring nations would come to terms with one another. 

Doesn’t happen. Why not?  

A sane person of good will and good judgment might think that continuing either conflict was a waste. But that would put you at odds with America’s ‘foreign policy elite.’ 

Last week, that ‘elite’ rose out of the swamp to endorse Ms. Harris. Fortune: 

More than 100 former staffers and national security leaders from past Republican administrations endorsed Vice President Kamala Harris on Wednesday—adding to the growing list of Republicans speaking out against former President Donald Trump. 

They ‘firmly oppose the election of Donald Trump,’ says the public letter. They say they disapprove of his “unethical behavior and disregard for our Republic's time-tested principles of constitutional governance.”  

Then, on September 22, a group calling itself “National Security Leaders 4 America” sent its own letter — signed by 700 foreign policy ‘experts’ – claiming that: 

Vice President Harris has proven she is an effective leader able to advance American national security interests. Her relentless diplomacy with allies around the globe preserved a united front in support of Ukraine’s fight against Russian aggression. She grasps the reality of American military deterrence, promising to preserve the American military’s status as the most “lethal” force in the world. 

Donald Trump is not exactly a peacenik. To the contrary, he is as jingoistic and bellicose as any American president. But the foreign policy establishment regards him as unreliable. Of course, they are right. He’s not a team player. And they are most afraid that he might strike a deal to end the war against Russia. 

The remarkable thing about this is that many of these experts were responsible for the worst decisions and most unethical behaviour in America’s history. They led the US into its woebegone War on Terror... which cost $8 trillion and upwards of a million dead. 

But that was, apparently, not enough. Now they are creating more serious enemies... not just freelancers with pickup trucks and towels on their heads. Now they are gunning for enemies who can put up a better fight. 

The War on Terror laid the groundwork for the ‘Forever War’ we see taking shape. ‘You’re either with us or against us,’ said George W. Bush. One side or the other.  

But it was the US that invaded Iraq, not the other way around. And many nations that might have preferred to stay on the sidelines began to see that they could be next. They had to choose. 

The Economist says they are choosing to join forces to oppose The West: 

The rulers of China, Iran, North Korea and Russia are growing worryingly close  

Antony Blinken, America’s secretary of state, was unusually blunt on a recent visit to Europe: “One of the reasons that [Vladimir] Putin is able to continue this aggression is because of the provision of support from the People’s Republic of China,” he said.  

China was, he added, “the biggest supplier of machine tools, the biggest supplier of microelectronics, all of which are helping Russia sustain its defence industrial base”. American officials are reluctant to discuss details of what they think Russia is giving its friends, but Kurt Campbell, deputy secretary of state, recently said Russia has provided China with submarine, missile and other military technology. Separately, America says that Iran has been busy sending Russia hundreds of short-range ballistic missiles. 

These revelations are examples of the growing military-industrial ties between China, Iran, North Korea and Russia. “We’re almost back to the axis of evil,” says Admiral John Aquilino, the recently departed head of America’s Indo-Pacific Commands... 

Back to the ‘Axis of Evil?’ Yes, they’ve got us just where our foreign policy experts want them to be.  Stay tuned. 

Regards, 

Bill Bonner 

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Market Note, by Dan Denning

Inflation is flattering global GDP growth while the Chinese and American governments stack on record amounts of debt. These were two conclusions from the September Global Debt Monitor, published by the Institute of International Finance (IIF). Total global debt is $312 trillion, according to the IIF. That’s 327% of global GDP. But as governments add on more debt, productivity in the real economy declines. More on China’s liquidity infusion (and what it means for gold prices) in my report later today.

Source: Institute of International Finance