Professor,

How much is the life support, the exponential debt, the basis of the empire?

The Federal debt has been growing since the New Deal, so not only was Roosevelt putting unemployed labor back to work, but unemployed capital, as well.

Then World War 2 came along as the biggest collective effort in this country. Keep in mind that much of the population was at most third generation and those going back further had a civil war, just 80 years, prior. Which is how long ago WW2 is for us.

The fact is that there just isn't enough private sector investment opportunities for everyone. Look how much trouble China is having, trying to figure out how to invest all the money they are making.

So the logical solution would be forms of public investment. Education, healthcare, environment, etc, along with all the things we do publicly, like roads.

Yet the US is just not as culturally integrated as the countries in Eurasia, so there isn't that cohesion to support that level of public commitment.

Except the military. Not only are there lots of defense contracts, but generations of people made lives and careers out of it.

So it really is the one public works project everyone can get behind.

Presumably Volcker cured inflation with higher rates, yet that not only made capital more expensive to those willing to borrow, to grow the economy, building houses, starting and growing businesses, but it gave more as interest to those sitting on piles of cash, they had no use for, other then lending out. Wouldn't that increase the unemployment rate for money?

It did start to come under control by 82, but that was the year the deficit topped 200 billion for the first time. It would seem the only difference between the Fed selling debt it bought to issue the money and retiring it, versus the Treasury simply issuing more debt and spending it mostly on the military, was this served to increase economic growth and thus the need for money.

Then when you consider that to store the asset side of the ledger, there has to be a debt on the other side, that the secret sauce of capitalism(profit over everything, is not the same as free markets) is public debt backing private wealth.

Then the fact that with public government and private banking, the banks rule, as they don't have to work around cumbersome election cycles, don't have nearly as much oversight and can control the finances of anyone running for office, as well as fund their challengers.

Consequently the only real job these flunkies have, is running up the debt. Then the fact the only real tool they have in the tool box, is the military, so whenever they feel the need to act important, the main focus becomes finding some spot in the world to blow up. While actual strategy is immaterial. Meanwhile the country falls apart.

That's not really empire, so much as an infectious virus.

Russia and China basically went back to private government, with Putin and Xi as respective CEO's, specifically to control their oligarchs, which seems to be why our oligarchs and their herds of flunkies hate them so much.

When was the last time you heard of a politician referred to as a statesman?

If Biden isn't proof enough of how hollow government has become, consider that Charles 3rd is British head of state. Having a fake monarchy is a useful doo-dad, when the cartel, known as the City of London, actually runs everything.

The banks are having their own, "Let them eat cake." moment.