It’s interesting how far my politics have evolved. If you had told me in 2014 that this channel would include a full-throated call for more stimulus spending, even after a year with a near 4 trillion dollar US budget deficit, I would have been appalled. I’m in surprisingly strong company. The inflation hawks and bond vigilantes on Wall Street have mostly retired in failure. The new generation is now just as eager for a big spending government as I am. What happened to all of us was… events. An under-appreciated aspect of Donald Trump’s presidency is the way that he sort of blew up the argument for fiscal conservatism. The Republicans let him do all the economic stimulus that they denied Obama, and the economy really did kick into higher gear. The threatened inflation never happened, and while people are a little less eager to buy our debt, the Federal Reserve seems to have stepped into the breach without consequences.
The only thing standing in the way of the emerging “magic money” era is the Republican Senate. And they’re only standing in the way until they can put a Republican back in power. Which is way I think we shouldn’t let them do that, as I lay out in today’s video on Georgia’s January 5th elections. As I briefly note in this video, however, I still suspect that those failed bond vigilantes and Republican Senators may actually be right. The British Empire fell because it ran out of people willing to give them money, and I think it’s likely that will be the case with us as well. We just don’t know the time scale. And as Keynes pointed out, “In the Long run, we’re all dead”. 2021 is not the year to try to solve the national debt.
So What, am I a Democrat now?!?! Hell no. But, as I mention in today’s video, I definitely want them to win big in the mid-term elections this November. This may be surprising to some of you. Though I certainly changed my tune in 2016 and became a very reluctant Clinton supporter, long-term viewers know that I’m a pretty hardcore third party guy. In fact I’ve never voted for a Democrat or Republican in a national election. (In 2016 I was registered in Washington, DC, a super Democratic jurisdiction, so my vote didn’t matter). In fact, when I started doing this channel full time in 2014, I intended to use it to agitate for third parties in 2016.
Trump changed my calculus, obviously. I was convinced that Trump posed a unique threat to US politics, and nothing about his presidency has changed that conviction. I’m no Democrat, and it’s hard to imagine my ever becoming one, but Trump makes for strange bedfellows.
And my support for the Democrats this time around is actually quite consistent with my old school Libertarian views. Divided government, one where different parties control different branches, is always better from a Libertarian perspective. It means that less gets done. I’d be perfectly happy for the next two years of Trump’s presidency to be completely gridlocked. It’d be better than what we’ve got now.
Occasionally I’ll embark on the 15-20 hour process of making a video, and then something happens that throws things in a new light. I still stand 100% behind today’s video, but if I’d known that Secretary of Defense James Mattis was going to weigh in, I probably would have incorporated a response. He’s a serious guy. I’ll have to respond here.
It’s easy for me to dismiss a lot of Mattis’s letter due to some pretty fundamental strategic and philosophical differences I have with him that regular viewers of this channel will be familiar with. Mattis believes that Saudi Arabia is a worthwhile partner in counter-terrorism. I do not believe that. Mattis believes that Iran is more of a threat to the US and the world than Saudi Arabia is. I do not believe that. Because Mattis believes these things I do not believe, he presents a narrative for the Yemeni war that strikes me as deeply flawed. If you’ve got a half hour or so, I set out a counter-narrative, that actually reckons with Yemeni history, unlike the standard Iran-Saudi proxy war fairy tale we’re told.
But there’s one concern that Mattis brings up that I can’t dismiss. He claims that ending US cooperation with Saudi Arabia in Yemen will make the humanitarian situation worse. I’m worried about this as well. Taking the US out of the equation is likely to degrade Saudi Arabia’s ability to continue the war long term, but I suspect it is also likely to make the Saudis more brutal. The 5,295 civilians that have been killed so far (Human Rights Watch), are probably the result of fairly targeted bombing. Saudi bombing is likely to have killed most of these civilians, but US expertise has probably put a bit of a cap on the body count. I’m no expert on warfare, but I was already worried about this. Having Mattis, one of the world’s greatest experts on warfare, express this opinion makes me more worried. But it does not give me pause.
More people may die by bombing, but Saudi Arabia’s ability to besiege the country will be seriously degraded. Millions are less likely to be at risk of starvation or cholera. And if Saudi Arabia’s attack on Yemen becomes more brutal it will also become less sustainable. A key point that I neglected to include in this video, and rarely gets included in the standard litany (“refueling, targeting, intelligence”) of goods the US provides to Saudi Arabia is diplomatic cover. It is a profoundly weird thing that Saudi Arabia is doing. Saudi Arabia is invading and destroying its neighbor. This sort of thing doesn’t happen much in the 21st century, or even in the second half of the 20th century. Most wars are civil. The few examples of cross-border invasion I can think of post Cold War are only possible because of US support. If the resolution passes in the Senate next week, and gets through the House, Saudi Arabia won’t just lose technical support, it will lose that diplomatic cover.
Without US support the war in Yemen will instantly become exponentially more cancerous for the Saudi re-branding effort than it already is. MBS and the Saudi government desperately need investors for their oil company’s years-delayed IPO, and that new tech city they announced last fall. Try doing that when US media and government are no longer covering up the war in Yemen.
I’m afraid that Mattis may be right about the immediate humanitarian costs of cutting off US support for Saudi Arabia’s war in Yemen. But continuing on the way we have for another two years would be much, much worse.
Yesterday the US House of Representatives finally had a debate on The US War on Yemen. It’s about three years too late. But it is a good thing that it happened. It’s easy to look at this delay, and the toothless resolution that was voted on, and conclude that Congress is useless on this topic. As today’s video explains that would be a mistake.
This reaction video fortuitously leads into the upcoming vids. They deal with the US Congress, and they would have looked super non-related if it weren’t for all the Congressional Debate stuff in this video. There’s been a notion in the back of my head for quite some time. The US government is nowhere as screwed as we like to imagine. All the tools are there. We just choose not to use them. It may be worthwhile to do more in this vein. What do you think?