Once again, world politics...or foreign affairs...dominate the news. The Crimea drama is over...finished... kaput. The Russians did what you would expect. So did the Crimeans.
The Crimea has voted overwhelmingly to join Russia. And the markets seem to be celebrating. Stocks, as measured by the Dow, rose 88 points yesterday. Gold - the anti-dote to crises of all sorts - dropped $13.
We promised a second foray into the time that land forgot - that dark future where things that couldn't go on forever finally stop. The question on the table yesterday was 'when'. We had no answer to it.
The question today is 'how'...about which we have more to say... so much that we will have to leave it until tomorrow. Instead, we will riff on world politics...about which we know even less than we know about economics!
The people of the Crimea have spoken. And naturally, the defenders of democracy are appalled. The LA Times:
However, Russian President Vladimir Putin issued a decree that recognized Crimea as "sovereign and independent" after Sunday's overwhelming vote there in favor of secession from Ukraine.
UK Foreign Secretary William Hague, speaking in the British House of Commons Tuesday, said Russia was "choosing the route of isolation, denying the citizens of his own country and of Crimea partnership with the international community."
Hague also warned of "a grave danger of a provocation elsewhere in Ukraine that becomes a pretext for further military escalation."
German Chancellor Angela Merkel said the "so-called referendum" and the acceptance of Crimea to the Russian Federation was in violation of international law.
Oh, dear reader, sometimes you surprise us. "Self-determination" has always been useful, convenient, BS. It is only handy when you have the guns to back it up. Otherwise, it is just air.
America's greatest and bloodiest war - the War Between the States - proved it. You can talk about democracy all you want; but when push comes to shove, the pushers always shove you around.
Compare Putin with Lincoln. Putin invaded the Crimea, where people overwhelmingly wanted him to come. Lincoln invaded Virginia, where no one wanted him.
As far as we know, Putin's men didn't fire a shot. Lincoln's troops shot at everything that moved. By the time they were finished, one out of four white men of fighting age in the South was dead.
And then, after the troops were firmly in control of their prize, do you remember Lincoln offering the southerners a chance to vote on whether they wanted to re-join the North?
And where was the declaration that the South was sovereign and independent? We must have missed it.
Nobody really gives a damn about democracy or self-determination. And perhaps for good reason. Alexander Boot:
As the shift from zero to 123 occurred in the 20th century, then, according to democracy worshippers, it ought to be regarded as the sunniest period ever. Instead, somewhere between 400 and 500 million people died violent deaths at the time -- more than in all the other centuries of recorded history combined. Moreover, some of the most horrific massacres ensued after failed attempts to implant the saplings of one-man-one-vote democracy into a soil all too ready to reject them. Russia and Germany spring to mind, but then you can name your own examples from just about every continent.
Woodrow Wilson, one of the neocons' icons, dragged America into the First World War under the slogan of 'making the world safe for democracy'. The principal warring parties were perplexed, considering that France was already a republic, Britain a constitutional democracy with a fine parliamentary tradition, while Germany, Austria and even Russia had functioning parliaments, even though the last had been struggling to come to terms with it. And all those parliaments craved war.
Bill Bonner is the President & Founder of Agora Inc, an international publisher of financial and special interest books and newsletters.