War on Terror Destroying Defunct American Economy!!!

You've seen the headlines, and heard the experts:

• America is about to be flushed down the toilet
• The economy is in rotten shape
• We'd better stop this silly War on Terror, before America is destroyed from within!

There's an election coming, so I suppose that editorial boards around the country see it as their duty to educate the masses about what a rotten job the current administration has done, and that it's Time For Change. In an unbiased way, of course.

I won't indulge in a rant about the wisdom and ethics of undermining public morale in time of war.

Instead, here's a reality check:

"U.S. Economy: Assessing the whole"
American Interests (April 7, 2008)

Among other things, that post points out that 'experts' are very good at measuring the economy as it was several decades ago. This new knowledge-based economy isn't on their radar.

Using similar methods, I could state that the American economy has gone off the edge and is falling into the abyss. (Production of blacksmith anvils and buggy whips is practically nil, and it's practically impossible to find a good stable within 10 miles of most major city centers!)

As with most American Interests posts, the April 7 piece isn't a sound bite-sized read, but it's got solid insights.