Iraq, Afghanistan pass Vietnam in cost

It's amazing how America does not learn lessons. The only thing we learn from history is that we don't learn from history. As this article that appeared on antiwar.com indicates, we've now paid $700 billion on Iraq and Afghanistan, more than was spent on Vietnam.

When President Lyndon Johnson poured billions into his "Great Society" and Vietnam at the same time (known as "guns and butter") he broke us. The '70's was a lackluster decade highlighted by stagflation and eventually very high inflation.

Won't we ever learn? 300 million people (4% of the world's population) trying to run the other 6 billion (96%). Who's paying for it? You and me.

You're broke

And so am I. Why? Because the decider-in-chief is doing now what Lyndon Johnson did in the '60's. Breaking the bank with war. Johnson also poured billions down another rathole he called the "Great Society."

In this interesting article by historian Thomas Woods, Joseph Stiglitz of Columbia and Linda Bilmes of Harvard put the full cost of the Iraq War at $2 trillion. So, when will Americans pay this tab? For years to come. The '70's had a hangover because of Vietnam and the Great Society of the '60's. Americans are about to get a headache and then a big hangover. Combine war spending with the coming credit bubble implosion and the future does not look rosy.