Richard Mendales

World War III: U.S. vs. China?

The reason why the Great Depression ended with World War II has less to do with the occurrence of the war than the fact that the U.S. engaged in massive deficit spending on a scale unprecedented during the 1930s, and employed 16 million people in the process. There is no reason why that can be done in a completely peaceful way; we have over $2 trillion in infrastructure that has fallen into bad repair over the last 30 years. There is no necessary conflict with China--last time I looked, they were lending us more than the rest of the world combined.