We are getting ready to repeat the economic fallout and eventual, but slow, recovery of the Vietnam war years.
The similarities are striking - skyrocketing energy costs, precious metal prices rising precipitously, huge jumps in food prices.
The current low inflation rate published by the federal government is laughably inaccurate as anyone who has to purchase energy and food can see.
Keeping interest rates artificially low masks the true impact of this spending and only postpones the recovery.
Even America cannot spend hundreds and hundreds of billions of borrowed money on a multi-year war without any economic repercussions.
We did it in the Vietnam era and it took years after the war ended for the economy to recover and we are doing it again.
this is not criticism or argument about the war it is just an observation of the economic impact of overspending without any corresponding belt tightening on the home front.
Overspending 1.2% of GDP, not exactly the 2.9% of GDP at the height of Vietnam or the 6.0% of GDP during Reagan's defense buildup.