Comment: I think the point he was

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I think the point he was

I think the point he was trying to make it that from the austrian perspective the malinvestment in this country has been directed so heavily towards the military industrial complex, that when the correction comes it will be in the form info total collapse. Think about it like this. Imagine if a quarter of our population lost their jobs at the same time. Imagine how devastating the effects would be on the rest of the economy.

Secondly, our currency is backed by oil. The oil that OPEC sells. When a member of OPEC goes rouge(Saddam Hussein, Ahmadinejad, Gaddafi...) we have to keep them in place or the rest of OPEC sees it as weakness.

As soon as OPEC comes of our dollar, the rest of the producing nations price their goods at their true value. Americans who produce nothing will soon experience the opposite of the WalMart effect. But before being able to benefit from this correction, Americans are going to need to develop the skills needed in the new market. There we be lots of famine, riots, and chaos before any of this happens.

No we didnt do it, but it's sure ours.

Séamusín