We have not heard yet what %age of US GDP is attributable to
war arms manufacturing but one can imagine if the US war
materials were removed from its GDP that it too would be
verging on recession (not to mention its ever increasing
budget deficits which in essence is goosing its economy rather
than properly taxing its citizens and corporations and balancing the budget)
Surely that too is "short termism" unless the US intends later
to burn its bond holders.
This Ukrainian War together with the Gaza bold-on will, IMO,
mean increasing US budget deficits making its financing
of a protracted Ukrainian war more doubtful . Trump has
foreshadowed that already.
