The Economics of Now

I read an article recently, it was titled, "Why the debt crisis is now the greatest threat to the American Republic."

There was one particularly sobering paragraph...it finished with this:

"The historian Thomas E. Woods, Jr., observes that, during the 1950s and 1960s, between one-third and two-thirds of all American research talent was siphoned off into the military sector. It is, of course, impossible to know what innovations never appeared as a result of this diversion of resources and brainpower into the service of the military, but it was during the 1960s that we first began to notice Japan was outpacing us in the design and quality of a range of consumer goods, including household electronics and automobiles."

This is an interesting paragraph...and one VERY large rebuttal is that there are quite a few things that have come from that un economically thought out spending that went on and is going on.

But is must be understood that we have sold off the long term in exchange for military might. Our education and infrastructure has crumbled.

Our lack of focus is causing the world significant harm.