The military-related blogs, such as Small Wars Journal, MountainRunner and the like have been relatively quiet on the current economic crisis, even though this has almost as much of an impact on foreign and defense policy than whether or not the military's planned "M-5 Tactical Segway" will ever see the light of day.
Red Team Journal, however, has written a piece today about the economic crisis and explains it in terms of crisis management. That the government has been throwing money at the crisis without a coherent end state or plan is obvious. It does nothing to address the underlying flaws in the economy, and does little, if anything, to correct America's spending or production habits. If anything, bailing out irresponsible lenders and auto manufacturers only seems to reinforce reckless consumer spending and a lack of innovation from Detroit. It does nothing to alleviate the massive foreign debt Americans have racked up, and will likely be paying off for a generation. The only thing that can be said for the latest round of bailouts is that they are timely. But although swift, decisive action may play well in sound bytes, boldly rushing in without a coherent plan is about as effective as, well, Leeroy Jenkins.
There is some humor to come out of this though. With many prominent economists (including Alan Greenspan) backing the nationalization of banks, at least temporarily, some have said that a potential game plan might be to have the government run the banks until they are profitable and sell them back to the market. Which is, of course, assuming that the government could run something that could make a profit in the first place.
Focus: Is Megan Fox hot or what?