Armstrong: Europe Is Falling, Needs War with Russia
March 3rd, 2025Via: USA Watchdog:
It also looks like every country in Europe is backing more war in Ukraine. And now, there is renewed talk of an EU army. Armstrong says, “Why? Because they all are facing the collapse of the European Union. The debt is just unbelievable. They never consolidated. Between Covid, Climate Change and sanctions on Russia, the German economy has shrunk . . . 3% to 5%. The economic growth (of the EU) is appalling. Europe is falling, and this is why they need war. So, they are backing Zelensky.”
More: The Neocon Coup of Europe
Surplus-value (profit + interest + rent) can be expressed only by its consumption (“luxury”) or accumulation. Public & consumer debt is to be understood as deferred surplus-value.
Debt-financed war fits the bill for the latter, although it’s not the most certain way to guarantee future income. War has other uses however, including… the stabilizing digestion of productivity gains – but only when threats to profitability come mainly from tensions in labor relations.
When the most immediate annoyance is capital overaccumulation, war has limited medium-term economic relevance. Both issues can happen more or less simultaneously though. A proxy for accumulation is consumption of fixed capital (CFC), on an upward trend since 2008.
Accumulation can proceed for a while before becoming unsustainable, since it facilitates technical developments that can compress the labor share of the product. But the deeper this path is taken, the bigger the burn. Meanwhile productivity gains may be strong enough to be wasted by war and other means. Apparently it’s not what taking place here.