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{Empty title} | The Nation

Scheer suffers from Obama-buyer's remorse. Me too. Obama foreign policy is same old, same old, featuring a cast of the usual cold-war heavies.

Sad to say, but we're broke, the empire is fading, the oil is petering out, the spirit is lacking, and the leadership is truly Roman. Time to become like other faded empires: Britain, Holland, Spain.

But I worry that these cold enthusiasts have a war up their sleeve. To wit:

US leaders learned an important lesson a long time ago: War got us out of the depression. It wasn't till 1944 that unemployment was licked. It was licked because we fielded a multimillion-member army fighting abroad. In '44 25 percent of our GDP was based on deficit spending.

Our current crop of serial bubblers are at their wits' ends due to the demise of the tech bubble and the housing bubble. Is our next bubble to end all bubbles the war bubble?