Analysts: Iraq war ‘partly to blame’ for financial crisis

[babsbunny]

Analysts: Iraq war ‘partly to blame’ for financial crisis

http://www.rawstory.com/rs/2010/09/iraq-war-blame-financial-crisis/


By Daniel Tencer
Saturday, September 4th, 2010 -- 10:34 pm

Stiglitz and Bilmes: Recession will be longer because of war

The financial crisis that rocked the world in 2008 and still reverberates today was "due at least in part" to the Iraq war, which also made it more difficult for the government to react when economic problems happened, argue two prominent policy makers.

In an article in Sunday's Washington Post, former Clinton-era economic adviser Joseph Stiglitz and Harvard University public policy lecturer Linda J. Bilmes say that the Iraq war forced the US to take on more debt than it had to, and caused in part the rising oil prices that resulted in large amounts of money flowing out of the US economy.

[WinkyDink]

1. Now, let's not go out on a fiscal limb here.....

[xchrom]

2. ya think? -- and were they surprised to find that out? nt

[IndianaGreen]

3. And the escalation in Afghanistan will be the coup de grâce

We are collapsing like the USSR did and, as in Russia today, the oligarchs and the gangsters will inherit what's left.

[eppur_se_muova]

4. Reminds me of "Bart the Lover" ...

http://en.wikipedia.org/wiki/Bart_the_Lover

After staging a thoroughly elaborate practical joke to set up his teacher on a date with a nonexistent admirer, Bart sees the pain he has caused and remarks "I can't help but feel partially responsible".

Not too surprisingly, Bu**sh** has never showed as much sense of responsibly as Bart.

[glitch]

5. Sad lol for perfection. nt

[Fuzz]

6. No, really?

[bvar22]

7. But The OIL was supposed to pay for it!

With the OIL Law in place, the Global Oil Corporations now OWN a good percentage of the Iraqi Oil,
paid for with American Taxpayer Money and the BLOOD of American citizens.

A case could be made for a large enough "Windfall Profits Tax" on that oil to lift the burden from the American Taxpayer.