
I just did, finishing the entire novel last night. As reputed, it's a masterpiece. I wish I had read it in childhood, at the height of the Cold War, when it was written.
One line particularly resonated with me, distilling a premise down to a phrase suitable for the motto of the (then and also now) Republican party: "God [is] real and he's American." Watchmen is just as sharp a critique of neo-conservatism, the Palins, McCains, Limbaughs and Ws of the world, as it is of Reaganism and Thatcherism.
In my mind, this fictional story settles comfortably next to RFK's non-fiction memoir Thirteen Days, dark and light visions of the same nihilistic Cold War era. The fiction required humanity's salvation, at atrocious cost, from outside super beings (or humans who anoint themselves as super beings); the non-fiction, the peaceful resolution of the promised horror in the chop of the Caribbean sea, demonstrates salvation from within.

Swirling close to the surface of the novel, for me, was the insanity of mutually assured destruction.
The idea is a game. If both sides cooperate, we both win a little. If both defect, we all lose everything. The insanity comes from assigning value when one side defects while the other cooperates.
Is it really desirable for one side, our side, to successfully annihilate the other? What would victory, in the context of large-scale nuclear war against the Soviet Union mean? What would victory in Vietnam—a continued fever dream of American conservatism to this day--look like? The novel explicitly depicts the last, with it the implicit destruction of the Vietnamese people by our private, American, God.
Watchmen is less dated, in our post-Cold War era, than it should be. The ideas explored within are equally applicable to our present predicaments: What would victory in Iraq have looked like? What if the neoconservatives were correct? What would such a world look and feel like? How would the meaning of liberty and freedom change if we could successfully make the Iraqi's love us by pointing a gun?
With this load to bear, the movie cannot help but be terrible. I'll watch it anyways.
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