Top U.S. military officials including Marine Corps General Joseph Dunford and Air Force Secretary Deborah James said earlier this week that Russia was the biggest security threat to the United States. Defense Secretary Ashton Carter and top NATO officials have voiced similar concerns in the past few months.
Only four NATO members meet defense spending norms
However, Brian Becker of the anti-war Answer Coalition says that Washington is beating drums of war against Russia to get Europe to boost their defense spending. Increased European military spending means more purchase of military equipment from the United States. Becker added that Europe has experienced two World Wars and know the dangers of war.
It's no secret that this year has been a volatile one for the markets. The S&P 500 is down 18% year to date, while the Nasdaq Composite is off by 27% year to date. Meanwhile, the VIX, a key measure of volatility, is up 49% year to date at 24.72. However, it has spiked as Read More
Most of the European countries spend very low percentage of their GDP on defense. NATO requires all of its 28 member states to spend at least 2% of their GDP on defense. However, only four of the 28 members are doing it. According to the Stockholm International Peace Research Institute (SIPRI), defense spending of the UK, France, Germany and Italy has declined from 2009 to 2014.