As the war in the Middle East heats up, the US President says this latest war is not really a war, and that despite two other Middle Eastern wars having cost trillions of dollars, led to thousands of deaths and ultimately achieved nothing, this one will be settled, like the one in the Ukraine, within twenty-four hours.
In the meantime, the Greens in Australia have proposed a national day of mourning following the death of the "Supreme Leader" while the Australian Prime Minister has announced he stands fully behind the United States’ decision to invade (insert Middle Eastern country name here), which was necessary due to (CUT AND PASTE REASON FROM WHITE HOUSE PRESS RELEASE HERE – DON’T MENTION THE OIL).
I got out of bed this morning, expecting the share market to get a real hammering, but, after a few hesitant moments when BHP dropped as low as $57.08, it roared ahead, closing the day at $59.25, up 84 cents. Woodside, predictably, was up 6% on fears that oil shipments through the Strait of Hormuz will be stopped if the Iranian Navy gets its way.
Of course, it's all about money. And what backs money? The 17th century English philosopher, Thomas Hobbes, had an answer. Violence! The power of the state is secured through its monopoly on violence. When the state issues money – that money is secured by the state's ability to wage war. Or as Comedian Denis Leary famously explained, "Because we’ve got the bombs."
End of lesson!
