The first time this blog ever started attracting right wing posters was when I attacked Jonah Goldberg’s book, Liberal Fascism. I have always been fascinated by the bully boys who are attracted to the military solution to every problem, but would never think of joining the Army themselves. The British historian Hobsbawm described them as ” a relatively small, but absolutely numerous, minority for whom uniform and discipline, sacrifice-of self and others- and blood arms and power were what made masculine life worth living.”
Our notorious Morgan Warstler arrived on these pages about that time. He is an egotistical twit, who for reasons known to him only, refuses to admit that the invasion of Iraq was a mistake. He has managed to drive some important contributors to this blog off the site with his bad manners, but for reasons I can’t really explain, I allow him to keep posting. Now with the Russia-Georgia conflict in the news, the bully boys like Morgan are seeing John McCain’s war mongering campaign as the vehicle for their martial solutions to the world’s problems.
This is such a stupid response that it almost defies belief. Russia, like almost every country in the world (including Iran) relies on the international capital markets to finance it’s growth. The power of the West to modify Russia’s behavior lies in it’s willingness to impose capital sanctions, not in the fools errand of starting a new war in the Caucuses.Russian companies and individuals have billions stashed in Western banks and they need Wall Street and London financing desperately. Already Russian financiers are beginning to feel the pinch.
For many, that has been reflected in the Russian stock market. Once a hot investment, it has slumped nearly 25 percent in the last two months. Bankers have also pulled back on deals in the same period. Investment banking revenue from Russia was $148 million from mid-July to now. That is down from $260 million from mid-June to mid-July. And, halfway through this month, there have only been eight transactions raising debt for companies in Russia, compared with 37 in July, according to data compiled by Dealogic, a financial services research firm.
I am well aware that John McCain and his handlers think that all this saber rattling plays to his advantage. But once the Berlin Wall fell, Russia became as dependant on the capital markets as the U.S. The bully boys don’t want to think that their simplistic solution (send in the Marines to Georgia) is not the smart solution.