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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 368.29+0.6%Nov 7 4:00 PM EST
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To: TobagoJack who wrote (57788)11/13/2009 4:45:56 AM
From: energyplay  Read Replies (2) of 217587
 
The Imperial Overstretch argument is much stronger than the article indicates.

Since the Soviets broke first, the US was able to reduce military spending after the first Gulf War (actually during). The Soviet break up caused a drop in the prices of key raw material and the price of oil after 1991 also reduced the stress on the US economy, allowing a looser monetary policy, and helped increase economic growth rates, lowering the percentage level of the military burden.

So to a large degree, the US got lucky, and was able to spend large amounts of GDP on the military and not pay too high a price for this.
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