Joel Bowman

We dipped our toes over the weekend, Fellow Reckoner. Re-tested the waters. We wanted to know whether, over the past ten years, the public discourse regarding 9/11 and the subsequent “War on Terror” — waged both on foreign soil and, increasingly, against the liberties of American citizens at home — had shifted. A few questions…

Are people still waving flags and crying “traitor!” toward anyone with the inclination to question directives from the state’s military machine? Or has the mood become more reflective, more contemplative…more conducive to free and open discussion? After a decade at war, fighting on multiple fronts at a cost of trillions of dollars and hundreds of thousands of lives, has “war fatigue” finally set in?

“I originally was supportive of George Bush’s call for a war against Saddam Hussein,” responded one reader. “Since then I have come to be a huge believer in Ron Paul and have become disillusioned with our ‘war’ mentality. Thank you for your open dialogue.”

Wrote another, “…[I]t appears that I would be in agreement with the DR writers at this point, even though that would not have been the case 7-10 years ago. I was hoping for ‘getting the job done, and get it over with,’ but that hasn’t happened. Enough is enough now. But what should I have expected from a government that still has in place wool subsidies from WWII and a telephone tax from the Spanish-American war? We have now progressed far beyond ongoing taxes and ongoing subsidies to just plain ongoing wars.”

Setting aside the financial costs of “ongoing wars” abroad, there is also the cost in terms of personal liberty to be considered. Our mates over at The 5-Minute Forecast provided the following, disturbing observation last week…

The Patriot Act authorized ‘sneak and peek’ search warrants — where you, the suspect, don’t have to be notified of the search until after the fact. If you’re a patriot and thought those powers would be used to fight terrorism, well you would be wrong.

Delayed-Notice Search Warrents Issued Under the Expanded Powers of the Patriot Act, 2006-2009

Meanwhile, the National Security Agency (NSA) has opened a massive $2 billion, 1 million-square-foot complex in the Utah desert…devoted to storing and sorting through emails, web searches and business transactions. Perhaps yours.

A similar complex is being built near San Antonio. By 2015, according to journalist James Bamford, the NSA will store data equivalent to 1 septillion printed pages. That’s a 1 followed by 24 zeroes.

“Somewhere between Sept. 11 and today,” wrote Bamford last week, “the enemy morphed from a handful of terrorists to the American population at large, leaving us nowhere to run and no place to hide…”

At the NSA, thousands of analysts who once eavesdropped on troop movements of enemy soldiers in distant countries were now listening in on the bedroom conversations of innocent Americans in nearby states…

A surveillance system capable of monitoring 10 million people simultaneously this year will be able to monitor 100 million the next year — at probably half the cost. And every time new communications technology appears on the market, rest assured that someone at the NSA has already found a way to monitor it. It’s what the NSA does.

Is this how the victims of 9/11 are to be “honored”? Are the dead to be used as tools to incite fear and paranoia forever? Will the tragedy of their deaths be always used as an excuse to usher in an Orwellian age of snitching, snooping and ’round-the-clock surveillance? When, we wonder, will they finally be allowed to Rest In Peace?

Here’s Bill Bonner, reckoning on the subject…

So much 9/11 remembering! On the TV. In the newspapers. Even our good pastor, saying a few words of welcome at our mother’s 90th birthday party brought it up.

We pray for Mrs. Bonner. We give thanks for her 90 years…We hope for many more. And we pray for the victims of 9/11…and for the first responders…let us remember them…

But, frankly, we’d rather forget…

9/11 did no serious damage to the nation. As a whole, Americans were not made significantly poorer or significantly less safe. Yes, good people died on 9/11. But there have been a lot of good people murdered over the last 10 years. Every victim had his virtues. And every murderer had his reasons.

What did lasting damage to the nation was not 9/11, it was remembering 9/11. Not only did overreaction to 9/11 play a substantial role in bankrupting the country…it also made Americans fearful and sheepish. They’re convinced the towel-heads are trying to kill them. They believe they can protect themselves by spending trillions of dollars they don’t have on military campaigns that don’t work.

Ten years ago, only a few fanatics wanted to do Americans harm. Now, after throwing so much military weight around, half the world would happily pull the trigger on an American tourist if he had the chance.

Joel Bowman
for The Daily Reckoning

Joel Bowman

Joel Bowman is a contributor to The Daily Reckoning. After completing his degree in media communications and journalism in his home country of Australia, Joel moved to Baltimore to join the Agora Financial team. His keen interest in travel and macroeconomics first took him to New York where he regularly reported from Wall Street, and he now writes from and lives all over the world.

Recent Articles

Addison Wiggin
A Short History of Speculative Excesses and Wealth Preservation

Addison Wiggin

For of all John Law’s faults, he at least understood that he who holds hard assets wins the day. Addison took the liberty of grafting supporting evidence together from his book with Bill Bonner, Financial Reckoning Day. Read on to see how originators of some of the worst ideas can give us some good ones too...


Greeks Turn to Gold on Bank Bail-in and Drachma Risks

Mark Obyrne

The Greek stock market is down 36% year to date; the risk of global contagion in the event of a Greek exit is very real. Ordinarily such a crisis would require a massive coordinated effort from global stakeholders, perhaps directed by the IMF or some other pan-national financial body. But not in this case. Mark O’Byrne has the full story…


The Market’s An Emotional Wreck –Now What?

Greg Guenthner

Remember, the great commodity boom took more than a decade to play out. Prices skyrocketed across the board. But what goes up must eventually come down. Gold and silver lost their wings in 2013. Copper went into a death spiral late last year. And I don't have to tell you what's happened with oil over the past six months...