http://www.zerohedge.com/news/2014-07-02/yet-another-idiot-economist-says-war-good-economy
( Cheerleading for War calls - just interesting coincidental timing ? )
Submitted by George Washington on 07/02/2014 14:02 -0400
http://rt.com/usa/169700-cryptome-war-snowden-docs/
Published time: July 01, 2014 17:13
( Cheerleading for War calls - just interesting coincidental timing ? )
(Another) Idiot Economist Says We Need "Major War" to Save the Economy
- Afghanistan
- Alan Greenspan
- Barney Frank
- Ben Bernanke
- Ben Bernanke
- China
- Chris Martenson
- Congressional Budget Office
- Crude
- Dean Baker
- Deficit Spending
- Department Of Commerce
- Detroit
- ETC
- Federal Reserve
- Federal Reserve Bank
- Germany
- Global Economy
- Global Warming
- Great Depression
- Henderson
- Iran
- Iraq
- James Galbraith
- Japan
- John Maynard Keynes
- Joint Economic Committee
- Joseph Stiglitz
- keynesianism
- Krugman
- Larry Summers
- Ludwig von Mises
- Main Street
- Maynard Keynes
- Middle East
- Military Keynesianism
- Monetary Policy
- Napoleon
- national security
- New York Times
- Nouriel
- Nouriel Roubini
- Paul Krugman
- Purchasing Power
- Recession
- Robert Gates
- Ron Paul
- Treasury Department
- Ukraine
- Unemployment
Preface: Two weeks ago, well-known economist Tyler Cowen (a professor at George Mason University) argued in the New York Times that wars – especially “major wars” - are good for the economy.
Cowen joins extremely influential economists like Paul Krugmanand Martin Feldstein – and various talking heads – in promoting this idea.
Also, many congressmen assume that cutting pork-barrel military spending would hurt their constituents’ jobs.
It is vital for policy-makers, economists and the public to have access to a definitive analysis to determine once and for all whether war is good or bad for the economy.
That analysis is below.
Top Economists Say War Is Bad for the Economy
Nobel-prize winning economist Joseph Stiglitz says that war is bad for the economy:
Stiglitz wrote in 2003:War is widely thought to be linked to economic good times.The second world war is often said to have brought the world out of depression, and war has since enhanced its reputation as a spur to economic growth. Some even suggest that capitalism needs wars, that without them, recession would always lurk on the horizon.Today, we know that this is nonsense.The 1990s boom showed that peace is economically far better than war. The Gulf war of 1991 demonstrated thatwars can actually be bad for an economy.
Former Federal Reserve chairman Alan Greenspan also said in that war is bad for the economy. In 1991, Greenspan said that a prolonged conflict in the Middle East would hurt the economy. And he made this point again in 1999:
Societies need to buy as much military insurance as they need, but to spend more than that is to squander money that could go toward improving the productivity of the economy as a whole: with more efficient transportation systems, a better educated citizenry, and so on. This is the point that retiring Rep. Barney Frank (D-Mass.) learned back in 1999 in a House Banking Committee hearing with then-Federal Reserve Chairman Alan Greenspan. Frank asked what factors were producing our then-strong economic performance. On Greenspan’s list:“The freeing up of resources previously employed to produce military products that was brought about by the end of the Cold War.” Are you saying, Frank asked, “thatdollar for dollar, military products are there as insurance … and to the extent you could put those dollars into other areas, maybe education and job trainings, maybe into transportation … that is going to have a good economic effect?”Greenspan agreed.
Economist Dean Baker notes:
It is often believed that wars and military spending increases are good for the economy. In fact, most economic models show that military spending diverts resources from productive uses, such as consumption and investment, and ultimately slows economic growth and reduces employment.
Professor Emeritus of International Relations at the American University Joshua Goldstein notes:
Recurring war hasdrained wealth, disrupted markets, and depressed economic growth.***War generallyimpedes economic development and undermines prosperity.
And David R. Henderson – associate professor of economics at the Naval Postgraduate School in Monterey, California and previously a senior economist with President Reagan’s Council of Economic Advisers – writes:
Is military conflict really good for the economy of the country that engages in it? Basic economics answers are sounding “no.”
http://rt.com/usa/169700-cryptome-war-snowden-docs/
Cryptome claims all Snowden files will be published in July to avert a war
Published time: July 01, 2014 17:13
All of the National Security Agency files accessed by former contractor Edward Snowden could be published in the month of July if vaguely worded predictions tweeted this week from the digital library site Cryptome prove to be correct.
A series of micro-messages published by the website — a portal for sharing sensitive documents that predates WikiLeaks by a decade — suggest further Snowden leaks may be on the way.
“During July all Snowden docs released” reads an excerpt from one Cryptome tweet sent on Monday this week. “July is when war begins unless headed off by Snowden full release of crippling intel. After war begins not a chance of release,” reads another tweet sent from Cryptome on Monday this week. “Only way war can be avoided. Warmongerers [sic] are on a rampage. So, yes, citizens holding Snowden docs will do the right thing,” insists another.
Follow-up tweets from the organization have been equally vague, however, and a report published by a journalist at Vocativ on Tuesday does little to disclose what information, if any, will be published in the coming weeks.
Other dispatches this week from Cryptome direct followers to watch for two upcoming conferences planned for this month: the biannual Hackers On Planet Earth (HOPE) event in New York City starting July 18, and the Aspen Institute’s yearly Security Forum the following weekend, which will feature appearances from the likes of former NSA directors Keith Alexander and Michael Hayden.
Daniel Ellsberg, the former United States Department of Defense staffer attributed with leaking the so-called “Pentagon Papers” during the Vietnam War, may have a role in the possible Cryptome release. Ellsberg is scheduled to deliver a keynote address at HOPE, and Cryptome tweeted that those wanting more information on the release of Snowden docs should stayed tuned to that event for his speech and another from a yet-to-be-announced special guest.
As the tweets continued through Monday, Vocativ journalist Eric Markowitz approached Cryptome founder John Young for further details. Ahead of that article’s publication, however, Cryptome published the email exchange between Young and the reporter, the contents of which provide little more except for vaguely worded predictions that could be deciphered to conclude that Mr. Ellsberg may or may not discuss unpublished Snowden documents at HOPE later this month.
“July is a summitry of anti-spy and pro-spy events, HOPE and Aspen Security Forum. Both sides will be pushing their interests, with dramatic revelations by newsmaking and news breaking speakers,” Young wrote to the reporter. “At Aspen there is a star-studded list of top military and spy officials, defense industry and main stream media parading the need to combat the Snowdens and the WikiLeakers who do not understand the necessity of a luxurious and wasteful natsec and spy warmongering."
Elsewhere in the back-and-forth, Young makes reference to a crowd-funding campaign started by the site last month on Kickstarter that has so far helped the organization raise more than $14,000.
“We, modestly, will conclude our kick-spy Kickstarter campaign in asynchrony with the Bold Names,” Young continued. “To hell with all of the preeners who from all appearances, get togethers, books, public relations and mutual consultation are working together to assure they remain synchronous.”
“July is hot as hell, so a great month to burn through public money ferociously, battling over which voracious information producer can inflame the newsmaking loins of peace and war: in times of both prepare for both, endlessly elbow bending at the perfidy of the PR competitors,” he added.“So, definitely, Snowden documents will be released in July. If the contending parties have their way, all of the documents will be released to kickstart the war on terrorism, in Iraq, in Iran, in North Korea, in the Holy Land, across Africa, Caribbean Drug Sea, the US-Mexican border, and the areas of operations always on alert in DC, Fort Meade and Colorado Springs.”
In the article eventually posted by Vocativ on Tuesday, Markowitz wrote that “Young has also ducked inquiries about how (or from whom) Cryptome received the document,” and “did not respond directly to questions about what the content of those leaked documents would reveal, other than to say that there may exist some ‘technical documents’ used ‘to combat techniology [sic] of spying well beyond those promoted for “public debate.”’”
“So again, it’s important to take all of this with a grain of salt,” Markowitz wrote.
Primary among the issues is the question of civilian nuclear enrichment, with Iran insisting it be allowed to grow its program to meet future needs of its energy generation program. The US is insisting not only on forbidding future growth, but on Iran eliminating more of its tiny program.
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