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Generational Dynamics Web Log for 16-Aug-2010
16-Aug-10 News -- U.S. and S. Korea begin massive military exercises

Web Log - August, 2010

16-Aug-10 News -- U.S. and S. Korea begin massive military exercises

Boomers threaten the U.S. economy

U.S. and S. Korea begin massive military exercises

The United States and South Korea will hold 10 days of joint military exercise, beginning Monday, and continuing through August 26. The exercises are called the Ulchi Freedom Guardian (UFG) war games, and they've been held every year to maintain readiness in case North Korea invades South Korea. The 1950s Korean war ended in a stalemate, and technically the two countries are still at war.

The participation will be massive -- about 30,000 American troops and 56,000 South Korean soldiers, according to VOA. However, many of the participants will take part remotely, using computer simulations and communications.

The nuclear-powered aircraft carrier U.S.S. George Washington will take part, and the U.S. has said that some of the exercises will take part in the Yellow Sea.

The war games take place as tensions have increased substantially on the Korean peninsula, after the South Korean warship was sunk by an explosion on March 26, killing 46, and later investigations indicated that the sinking was caused by a North Korean torpedo.

As usual, the North Koreans put out a statement filled with angry bluster. Yonhap quotes the North Korean statement as saying, "Now that the uproar of the reckless military drill aiming at our republic has heightened to an extreme ... our military and people will wield the iron hammer of a merciless response. Our military's reaction will be the worst punishment anyone has ever experienced." Blah, blah, blah.

China's state-controlled media Xinhua also reacted angrily, saying, "The real intention of the U.S. maneuvers in the waters of Northeast Asia, the commentary said, is to consolidate the U.S.-South Korea and U.S.-Japan military alliance and boost U.S. military presence in the region, and therefore intimidate and contain China. Washington's intention to contain China becomes clearer as it tries to interfere in the South China Sea disputes and strengthen its military presence in Southeast Asia, said the magazine. To a larger extent, the U.S. moves reflect the Obama administration's ambition to return to Asia to seek dominance of regional affairs."

However, another article in the Chinese media downplays the importance of the exercises. The Global Times says that "Worries over US aircraft carrier [are] overstated," and that "the US sending a carrier to the Yellow Sea just demonstrated that Sino-US relations are not as intense as some people argue." The article points out that an aircraft carrier would be extremely vulnerable to missile attack sailing so close to the Chinese mainland, and the fact that the U.S. is willing to risk sailing into the Yellow Sea "is of more symbolic significance than practical significance."

The article adds that the U.S. is not planning any military move against China because "At home, the US economy is weak and debts are piling up; while overseas, the prospect of failure in Afghanistan grows ever more likely."

It adds, "As the US extends its battle line, the limited number of US military is like a stretched dumpling wrapper around Europe, Middle East, South Asia, and now even East Asia. The stuffing of the dumpling is swelling, while the wrapper is getting thinner and thinner."

Boomers threaten the economy

That was the headline on the home page of WSJ.com on Sunday.

According to the article (Access), the Boomers ARE threatening the U.S. economy. How? By spending less!

Boomers spending less <font face=Arial size=-2>(Source: WSJ)</font>

Boomers spending less (Source: WSJ)

According to the article, Boomers haven't saved for retirement, no one will hire them, and they've lost money in the stock market. The result is that they have far less money to spend. For several decades, Boomers have been the main consumer spending engine of the economy, and if Boomers cut back, then the economy will suffer.

Additional links

Face to face talks between Israelis and Palestinians may begin again soon, after having been broken off two years ago. LA Times

On Sunday, Japan, South Korea and China commemorated the 65th anniversary of Japan's surrender, ending World War II. Associated Press

Deadly smog still fills the air in Moscow from the wildfires. Guardian

VisitBritain research provides tips for Brits who want to be the best hosts possible to foreign visitors to the 2012 Olympics in London. Some samples: "A smiling Japanese person is not necessarily happy." "When meeting Mexicans it is best not to discuss poverty, illegal aliens, earthquakes or their 1845-6 war with America." "Never call a Canadian an American." BBC

(Comments: For reader comments, questions and discussion, see the 16-Aug-10 News -- U.S. and S. Korea begin massive military exercises thread of the Generational Dynamics forum. Comments may be posted anonymously.) (16-Aug-2010) Permanent Link
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Generational Dynamics Web Log for 16-Aug-2010 16-Aug-10 News -- U.S. and S. Korea begin massive military exercises

U.S. and S. Korea begin massive military exercises

Boomers threaten the economy

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Generational Dynamics Web Log for 16-Aug-2010
16-Aug-10 News -- U.S. and S. Korea begin massive military exercises