The doomsday machine
Two new books and an article in Wired are making more people aware of the doomsday system constructed by the Soviets during the 1980s, when they feared an American nuclear attack. Perimeter, nicknamed "the Dead Hand," went operational in 1986 and guaranteed that even if the leadership was killed and all command-and-control systems disrupted, the Soviets would still launch an all-out nuclear counter-attack. Like Skynet of the Terminator movies — Linda Hamilton, call your office. And "the dead hand" is still operational, although Moscow officially won't discuss it. It's a good thing nothing ever goes wrong with complex systems.
As we observe a one-year anniversary nearly every day of some calamity from last year's Great Panic, I can't stop that feeling of grating ambivalence. Yes, Messers Bernanke, Paulson and Geithner averted a collapse of "the global financial system" and perhaps averted another Great Depression. That's the story line and even I buy it most of the time. But now the too-big-to-fail banks have gotten even bigger. The derivative boys are back at work. Promised re-regulation is being gutted. The pain has fallen on average Americans and the American taxpayer.
It's almost as if "the global financial system" built its own Dead Hand doomsday machine. So the question becomes: Did we avert apocalypse last fall and winter, fortunately shutting down this fearsome device. Or did we actually arm it by our actions. In other words, should we have called the bastards' bluffs in late 2008?
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