Blowback is a government action that leads to a result directly opposite the government’s intent, a manifestation of the Command and Control Futility Principle (see “Crisis Progress Report,” SLL, 1/29/15). Designed to reduce terrorism and terrorist infiltration, the US’s war on terrorism has created blowback: more terrorism and chaos throughout the Middle East, and a flood of refugees into Europe, some of whom are undoubtedly Islamic extremists.There is another type of blowback, lurking within the global financial system, that may prove just as dangerous. Since the financial crisis, government debt and debt monetization have been embraced to promote economic growth. New regulations have been implemented to address financial risks.

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