Euro May Rise to $1.60 Due to Austerity: Economist

“a group of logistics officers at the Industrial College of the Armed Forces developed a national security strategy as a class exercise. Their No. 1 recommendation for maintaining U.S. global leadership was “restore fiscal responsibility.”

Sec. of Defense Gates also got involved. All of them seriously misinformed, and think “fiscal responsibility” equals strangling a growing economy with a fixed currency supply. It’s a crisis of misinformation. Logistics training obviously doesn’t prepare one for sound systems, operations, ecology or macroeconomics analysis. You have to wonder if they’ve all adopted the “Scorched Economy” security model from Peter-the-Not-so-Great.

New Obama security strategy hardens economic resolve

“If you owe all this money you become less independent in the broader sense because you have to worry about where you are going to raise the next loan,” he said