Former Goldman Sachs technical analyst Charles Nenner -- who has made some big accurate calls, and counts major hedge funds, banks, brokerage houses, and high net worth individuals as clients -- says there will be "a major war," which will drive the Dow to 5,000.
Veteran investor adviser James Dines forecast a war is epochal as World Wars I and II, starting in the Middle East.
Economist and investment manager Marc Faber says that the American government will start new wars in response to the economic crisis:
- "The next thing the government will do to distract the attention of the people on bad economic conditions is they'll start a war somewhere."
Martin Armstrong -- who has managed multi-billion dollar sovereign investment funds -- wrote in August:
"Our greatest problem is the bureaucracy wants a war. This will distract everyone from the NSA and justify what they have been doing. They need a distraction for the economic decline that is coming."
Armstrong wrote a piece yesterday entitled, "Why We will Go to War with Russia, " and another one today saying, "Prepare for World War III."
Bad Economic TheoriesWhat's causing the slide towards war? We discuss several causes below.
Initially, believe it or not, one cause is that many influential economists and talking heads hold the discredited belief that war is good for the economy.
Therefore, many are overtly or more subtly pushing for war.
Challengers Give Declining Empires "Itchy Fingers"Moreover, historians say that declining empires tend to attack their rising rivals ... so the risk of world war is rising because the U.S. feels threatened by the rising empire of China.
The U.S. government considers economic rivalry to be a basis for war. Therefore, the U.S. is systematically using the military to contain China's growing economic influence.
Competition for Resources Is Heating UpIn addition, it is well-established that competition for scarce resources often leads to war. For example, Oxford University's Quarterly Journal of Economics notes:
"In his classic, A Study of War, Wright (1942) devotes a chapter to the relationship between war and resources. Another classic reference, Statistics of Deadly Quarrels by Richardson (1960), extensively discusses economic causes of war, including the control of 'sources of essential commodities.' A large literature pioneered by Homer-Dixon (1991, 1999) argues that scarcity of various environmental resources is a major cause of conflict and resource wars (see Toset, Gleditsch, and Hegre 2000, for empirical evidence).
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