Today, the House Armed Services Committee is holding a hearing entitled Security Challenges Arising from the Global Financial Crisis. I realize this sounds like a lot of jargon but I found the topic and Chairman Ike Skelton's opening statement fascinating. The hearing is basically trying to tackle how the world economic collapse could affect U.S. national security, but not in the way we have come to think of that threat in the past few years.

I have spent the last six years reporting on the national security threat from rogue elements, usually operating in unstable states. My pieces focus on insurgencies and asymmetric warfare. Indeed, when the U.S. military talks about preparing for the future, it talks about counterinsurgencies and the need to stop groups from rising and plotting attacks against the United States, not wars fought along proper battle lines. But the hearing raises the question: What threat could proper states now pose to the United States because of the economic crisis?

My editor, Roy, interestingly pointed out to me that tough economic times can lead to the rise of extreme nationalistic leaders. That kind of ideology can often lead to war on its own. After all, the argument goes, our country, economy and way of life is superior. Therefore the military will prevail. A weak economy can further fuel the march toward war. As Skelton is his opening statement: “Hyper inflation in Germany was a significant factor in the rise of Hitler.  The economic decay of the Soviet Union led to regime change across Eastern Europe  So we know that economic crises can have consequences for national security of the highest order.” Roy added that Slobodan Milosevic's rise to power in Yugoslavia, at a time Communism had run out of steam, and the economic prospects were sinking, was on a wave of extreme nationalism, which led almost directly to war.

Could Pakistan’s collapsing economy lead to a new government, one that whose interests strongly diverge from U.S. interests? Could the rapid drop in oil lead Hugo Chavez to start a war of some kind to jump start his economy, perhaps with a U.S. ally? Could Egypt’s economic strain lead to the rise of a government other than the U.S. friendly regime of Hosni Mubarak?

Could the United States or a key ally once again find itself fighting a traditional army because of this economic crisis?

I realize these issues seem years in the future. After all, new nationalist leaders usually don’t rise overnight. But this economic crisis could last long enough for that to happen. And that means, the U.S. military may have to start preparing for that kind of war now.