What is Digg?9 Comments
- nicholasdog, on 05/07/2008, -1/+4I guess you have to be an Award winning economist to know this?
- ocularist, on 05/07/2008, -1/+3no probs.... its just the beginning :)
- inactive, on 05/08/2008, -0/+1i have no idea what you're talking about... mostly because you're talking nonsense.
- angusm, on 05/08/2008, -0/+1Except that Saddam had been controlling the oil for rather more than twenty years, and gasoline wasn't $6/gallon. Prior to the US invasion, Iraqi crude accounted for about 6% of US imports: large enough, but not so large that it couldn't have been replaced from other sources. By, say, invading Venezuela or, more peacefully, by doing more business with other oil-producing nations.
The war was a clumsy attempt at reshaping the world into something more favorable to the US. Oil played a part in it, but it wasn't the whole story, and to argue that Saddam was about to have us over a barrel (literally) is just wrong. - inactive, on 05/08/2008, -0/+1Stiglitz terrible economist... HE bankrupted America
http://www.mises.org/story/971 - inactive, on 05/08/2008, -0/+1The Iraq war was a net benefit to the USA if you consider the seizure of oil, nation-building, and arms dealing. The terrorism ***** is just a rouse to make it seem otherwise morally justifiable to the lower class flag-waving bumpkins. Without the war though, Saddam controls the oil, and gasoline is $6/gallon instead of $3.50. Then you'd really be complaining.
- sgiffy, on 05/08/2008, -0/+0Right because having reason control the economy as opposed to the whims of the gold cartel equals bankruptcy.
- sgiffy, on 05/08/2008, -0/+0No, no it didn't and this is not the worse downturn since the great depression, not even ***** close. The war and almost all our debt is financed by low interest long term bonds that pay returns only slightly above inflation. Most are held by Americans.
If unemployment crosses 10% and GDP falls by 20 then we start talking talking about another great depression. Until then its just slow growth and high commodity prices. ***** like this happens every ten or so years.
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