Butler's experience was from the period when the United Fruit Company more or less ruled Central America.[1] At times U.S Marines were used to enforce US authority, and Butler was a leader in some of those operations. That's why he says war is a racket.
> [War's] bill renders a horrible accounting. Newly placed gravestones. Mangled bodies. Shattered minds. Broken hearts and homes. Economic instability. Depression and all its attendant miseries. Back-breaking taxation for generations and generations.
Wars have generally been money losers for the nations involved and money-makers for businesses and individuals connected to power (Krupps to United Fruit to Wagner Group to etc). Wars have generally involved the egos of leaders but these leaders nearly always consider their friends who'll get rich through it.
Looking at the P&L of Lockheed, Raytheon, Boeing and the entire military-industrial complex, I'll politely disagree that it's a "money-loser".
Government loses (we'll, distributes conjured dollars from it's balance sheet), taxpayers lose, and war fighters lose. But profiteers win -- hence: War is a Racket.
What do you think has been happening for the past couple centuries in the Congo (and various other countries of the global south)? US imperialism is alive and well and The Jakarta Method [1] by Vincent Bevins is a damning account of it from the cold war to present day.
One need only look at the map of military bases. Its a really modern way to rule and avoids the issues of old imperialism while reaping the benefits. You have people thinking they are self governing themselves, but they are actually on a pretty tight leash, and should a regime change occur guess what side the US and all her allies will back with money and arms: the side that favors letting the US keep their military bases and preferential trading relationship. Its basically imperialism through the transitive property. A country like the Phillipines is still basically a US colony, Japan is still basically occupied by the US, the northern border of south Korea is still defended by the US military. There's only been a few times the US was ever rooted out from a country, like during the fall of Saigon, or recently when the US abandoned Bagram airbase.
Here's what Assange had to say about the Afghan war in 2011:
"The goal is to use Afghanistan to wash money out of the tax bases of the US and Europe through Afghanistan and back into the hands of a transnational security elite. The goal is an endless war, not a successful war"
[1] https://en.wikipedia.org/wiki/United_Fruit_Company