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Are War Bonds The ECB’s Next ‘Whatever It Takes’ Challenge?
The ECB, which meets this week, has an unenviable job: Monetary policy in the euro-zone's unitary by
H, do you think Russia has the capability to invade another country at this point? The invasion of Ukraine could be classified as a failed “special operation” and they are now leaning on a starving failed state for ammunition and troops. (North Korea)
The short answer’s “no,” but then again, look at the nations we’re talking about here. Sure, they’ve spent more as a share of their own GDP on defense versus other NATO members precisely because they worried this might happen one day, but are they capable of going to war on their own against even a depleted Russia? I don’t know. I really don’t.
I think the Baltics and Poland are capable of defending themselves.
In the US, the problem is the same as that identified for Europe. They want to identify as one entity on some fronts and two dozen on others. In the US we are trying to identify as half a country on some fronts and 50, or so, on others. Here we go.
While I don’t believe the Roman adage Si vis pacem, para bellum applies to every situation, I think the cases where it is more applicable than it is here are rare.