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Faelco said:
WW3 has been near since 1945, and has been a lot nearer in the past than now.

And everyone hates nuclear weapons, but nuclear weapons are basically the only reason WW3 didn't happen so far. It would be so much easier and less risky to launch WW3 if a nuclear fallout wasn't part of the associated schedule. Not saying that nuclear weapons are good, but "OMG nuclear war is imminent we're all going to die" gets tiring.

I think people underestimate how much more destructive the bombs developed after World War II were compared to Hiroshima and Nagasaki.  As much as nations may hate one another, they know the cost is so great it would be a Pyrrhic victory.

I'd say were farther away than the Cold War era because economics are so interconnected even a decisive victory for one side would take decades for the global economy to recover from.  Many powerful people all over the globe with vested interests in preventing large scale wars between G-20 nations.