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The US "industrial complex" is a hollow shell. If the US gets into a major war it will need to buy weaponry from our enemies. We don't manufacture much anymore. A "major war" would probably be a few pushed buttons and then many years of "mad max" survival skills. Factor in futuristic weaponry like nano-technology, artificial-intelligence, and genetic/biological warfare and we all could end up in "The Matrix".
Small occasional "brush wars" against backward opponents are non-events. Its the next "world war" between super-powers that would be devastating.
In other words, "perpetual small scale wars" are training exercises, a global "perpetual war" would be a human extinction event.