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

[cal04]

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

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 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.

To counter the effects of those trends, fiscal policy makers had to keep interest rates unnaturally low, causing the securities and real estate bubbles that burst at the start of the recession, the authors say.


The true cost of the Iraq war: $3 trillion and beyond
http://www.washingtonpost.com/wp-dyn/content/article/2010/09/03/AR2010090302200.html

[RaleighNCDUer]

1. Anybody remember the Soviet Union, circa 1988?

How could we have watched that happen and learned nothing?

Oh, that's right. It was Saint Ronnie who defeated the Soviets, not their own short-sighted economic policies, military adventures and military expenses eating up 40% of their budget.

I forgot.

[w8liftinglady]

2. now,now-corporations are making money--wait,it isn't trickling down?

can it be?

[ThomCat]

3. Oh no! You mean Trickle Down doesn't work?

Even when the Obama Administration makes it their official economic policy?

:wow:

Aren't we all just supposed to accept that Republican ideas are great when Obama adapts them? Don't they just need a little more time or something?

:sarcasm:

[ThomCat]

4. Morning Kick and Recommend!

:)

[gophates]

5. And in other news, the sky is blue and Republicans are stupid.

Duh.

[deacon]

6. And Bremer is walking around with 9 billion in his pocket, 'no we won't do an audit' ...gw bush n/t