The Coming Bankruptcy of the American Empire

Better to bring the troops home on our terms than wait for a debt crisis to do it for us.

By Hunter DeRensis

November 21, 2018 "Information Clearing House" -   The chickens are coming home to roost. Itís only a question of when.

Herbert Stein was chair of the Council of Economic Advisors under Presidents Richard Nixon and Gerald Ford and is the father of the more well known Ben Stein. In 1976, he propounded what he called ďSteinís LawĒ: if something cannot go on forever, it will stop. Stein was referring to economic trends, but the same law applies just as much to foreign policy and the concept of empire.

Steinís Law at first glance might seem like a banal platitude. But we should be fully cognizant of its implications: an unsustainable system must have an end. The American empire is internally flawed, a fact that anti-imperialists both left and right should appreciate.

The United Statesí national debt is approaching $22 trillion with a current federal budget deficit of over $800 billion. As Senator Rand Paul often points out, bankruptcy is the Sword of Damocles hanging perilously close to Uncle Samís neck. Outside of a handful of libertarian gadflies in Congress such as Paul, there is no serious political movement to curb the countryís wayward spending. It would take some upset of multiple times greater magnitude than Donald Trumpís 2016 victory to alter this course.

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