Why the US has really gone broke- by Chalmers Johnson
Global confidence in the US economy has reached zero, as was proved by last month’s stock market meltdown. But there is an enormous anomaly in the US economy above and beyond the sub-prime mortgage crisis, the housing bubble and the prospect of recession: 60 years of mis-allocation of resources, and borrowings, to the establishment and maintenance of a military-industrial complex as the basis of the nation’s economic life.
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