You have no way to know this was way beyond a market correction" that is pure subjective conjecture. Period. You have no idea what amount of market correction was needed. You also say that like it is actually a valid counter-argument. You also keep repeating the same statements about the entire system coming down without providing any real evidence other than repeating what was claimed at that time.
Do we get to call you a "Romeny-ite"?
Anyway "It's a far less percentage of GDP that it has been in the past" is a bullshit statement and I think you probably know why. I think you're trying to be clever here, but we'll see.
My claim of "way beyond a correction" is/was supported by:
- The POTUS
- Fed Chairman and Board
- The Secretary of the Treasury
- Investment bank CEO's and their boards
- Private corporations reporting trouble accessing credit
- Individual consumers reporting trouble getting house and car loans
And somehow I'm the one engaging in conjecture?
You don't grasp the full extent to which our foreign policy affects everything else. The military industrial complex is pervasive and integrated into just about every aspect of our economy. "Military spending" is only a fraction of the money and resources we pour into maintaining our overseas empire and ever increasing "security measures" at home. Do the "military spending" figures include contracts granted to 3rd party and private firms? "Defense" spending?
The "unintended" consequences of our foreign policy are being used as justification to trample on civil liberties at home with ever-growing authoritarian bureaucracies such as the TSA. Money is required to fund these bureaucracies that only exist to "keep us safe" from the "terrorists" that arise (or are being fabricated) as a result of our aggressive, reckless, destructive foreign policy.
1. I know the military-industrial complex is large, but I disagree it's as pervasive as you may think. Either way, you weren't getting into that...you were talking about how we'd need to scale back overseas because of fiscal concerns. Those are not necessarily the same issue.
2. Yes, another Ron Paul explanation. See, terrorists only exist because of our foreign policy! If we'd just stop "bombing everyone," they'd leave us alone. If we'd just talk to "President" Ahmadinejhad, we'd really make some progress. If we'd just sit down and talk this out, we'd be fine. This is where Ron Paul goes off the freaking deep end. Yes, we need to restructure and rescale our foreign military presence. Yes, we've sometimes meddled where we should not have. But no, we're not causing all of own problems.