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Put simply, the Bush administration policy in the Middle East is continuing to fail.

The Arab nations must be on our side. And if we catch them financing, if they funnel money to IS, that's when sanctions and other actions have to kick in.

Basically, what Economic Hit Men are trained to do is to build up the American empire. To create situations where as many resources as possible flow into this country, to our corporations, and our government, and in fact we've been very successful.

That's the premise of the Saudi Arabians. He's holding the president's hand with one. In the other hand, he's got his hand in the pocket of American consumers.

Despite spending trillions of dollars and spilling the blood of thousands of Americans, we remain in servitude to Arab oil.

No one will remember that President Obama supported the Arab Spring if it eventually fails and the region collapses back into the political Dark Ages. If we actively engage these movements with advice, with money, and, when necessary, with military force, then we get a vote in how it all turns out.

The reality is that we have missed a lot of opportunities in Iraq because of a failed policy.

I think the Bush Administration had basically inherited a policy toward Iraq from the Reagan/Bush Administration that saw Iraq as a kind of fire wall against Iranian fundamentalism. And as it developed over the 1980s, it became a real political run-a-muck... even though the Iraqis were known to be harboring Palestinian terrorists.

Saddam spent 35 years stealing and wasting money, and all of these systems are very fragile and brittle, and you try to fix one thing and something else gets in trouble.