Abstract
The United States could only maintain the wars in Iraq and Afghanistan, two lost wars, because of the funding by such countries as China and Japan, which continued to buy American Treasury bonds. Joseph E. Stiglitz (Nobel Prize in Economics) estimated that the total cost of these two wars ranged from US$ 2.7 trillion in strictly budgetary terms to around US$ 5 trillion in total economic costs. Not without reason, The Economist published an article in its edition of March 27, 2008, entitled “Waiting for Armageddon”, in which it suggested that the increase in bankrupt corporations could be a sign that something much worse was yet ahead.
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