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Old 02-28-2008, 06:20 PM
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Default Iraq war screws economy

The war was such a good idea, it just keeps on giving and giving, repercussions will be felt for years and years. Thanks George, thanks all you Bush voters.

From Talking Points Memo

Quote:
THE Iraq war has cost the US 50-60 times more than the Bush administration predicted and was a central cause of the sub-prime banking crisis threatening the world economy, according to Nobel Prize-winning economist Joseph Stiglitz

The former World Bank vice-president yesterday said the war had, so far, cost the US something like $US3trillion ($3.3 trillion) compared with the $US50-$US60-billion predicted in 2003.


...

Professor Stiglitz told the Chatham House think tank in London that the Bush White House was currently estimating the cost of the war at about $US500 billion, but that figure massively understated things such as the medical and welfare costs of US military servicemen.

The war was now the second-most expensive in US history after World War II and the second-longest after Vietnam, he said.

The spending on Iraq was a hidden cause of the current credit crunch because the US central bank responded to the massive financial drain of the war by flooding the American economy with cheap credit.

"The regulators were looking the other way and money was being lent to anybody this side of a life-support system," he said.

That led to a housing bubble and a consumption boom, and the fallout was plunging the US economy into recession and saddling the next US president with the biggest budget deficit in history, he said.
Iraq war 'caused slowdown in the US' | The Australian
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Old 02-28-2008, 06:43 PM
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Yes--its completely destroying our economy blah blah blah. Unfortunately the US taxpayers pay for 3 Iraq wars every year--when they fund the democrat provided social tit--which has been destroying our economy for decades.
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Old 02-28-2008, 06:45 PM
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What a dumbshit.

LOL!


Braindead.
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Old 02-28-2008, 10:28 PM
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Quote:
Originally Posted by Upton View Post
The war was such a good idea, it just keeps on giving and giving, repercussions will be felt for years and years. Thanks George, thanks all you Bush voters.

From Talking Points Memo


Iraq war 'caused slowdown in the US' | The Australian
Poverty USA -- Catholic Campaign for Human Development -- A hand up, not a hand out.

City, State, % People Below Poverty Level

1. Detroit, MI 32.5% City of Detroit Official Web Site -- Office of the Mayor
2. Buffalo, NY 29.9% Mayor's Office - City of Buffalo
3. Cincinnati, OH 27.8% City of Cincinnati - Office of the Mayor
4. Cleveland, OH 27.0% City of Cleveland, Mayor's Office - City of Cleveland
5. Miami, FL 26.9% City of Miami - Office of the Mayor
5. St. Louis, MO 26.8% Welcome from Mayor Francis G. Slay
7. El Paso, TX 26.4% www.elpasotexas.gov - Mayor Homepage
8. Milwaukee, WI 26.2% Office of Mayor Tom Barrett
9. Philadelphia, PA 25.1% PHILA.GOV | Welcome to the City of Philadelphia
10. Newark, NJ 24.2% City of Newark - Mayor Cory A. Booker


HERE ARE THE TOP 10 HIGHEST POVERTY RATED CITYS! NOTICE THAT THEY ALL HAVE A DEMOCRAT FOR A MAYOR! COENCIDENCE?
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Old 02-28-2008, 11:23 PM
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I'm just an old Indian, so would someone tell me where all the material being used to fight the war in Iraq is coming from. I mean who makes the bombs, mortor shells, artillery shells, small arm ammunition, uniforms, vehicles, body armor, MRE's, radios, aircraft. etc, etc. That is costing so much. Who is filling the jobs at the plants and factories, building new vehicles of war, and repairing those damaged?

Does everyone really think all that money is going overseas somewhere, taken from our economy, never to be seen again?
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Old 02-28-2008, 11:32 PM
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Sorry buddy, but even the flag patches are made in China now.

What are ya, Carlyle Groupie?

Semper Farcimus!
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Old 02-28-2008, 11:41 PM
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Originally Posted by A. Crowley View Post
Sorry buddy, but even the flag patches are made in China now.

What are ya, Carlyle Groupie?

Semper Farcimus!
So how many Yuan are they paying you, or should I ask how many Fen?
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Old 02-28-2008, 11:50 PM
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Oh, I made the "Support Our Troops' magnets.
Then I had hundreds of millions of them distributed to American stores owned by Arabs, Persians and Indians, where you bought yours! (Made in China)
Gotta Love Capitalism.
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Old 02-28-2008, 11:58 PM
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Quote:
Originally Posted by Teak View Post
I'm just an old Indian, so would someone tell me where all the material being used to fight the war in Iraq is coming from. I mean who makes the bombs, mortor shells, artillery shells, small arm ammunition, uniforms, vehicles, body armor, MRE's, radios, aircraft. etc, etc. That is costing so much. Who is filling the jobs at the plants and factories, building new vehicles of war, and repairing those damaged?

Does everyone really think all that money is going overseas somewhere, taken from our economy, never to be seen again?
We have the highest corperate tax in the world. Thoes corperations are owned by stock holders. When they are taxed to hell they fire workers. Now thoes workers arent paying taxes! Why did they fire them? BECAUSE THEY OWE IT TO THE STOCK HOLDERS TO MAINTAIN A PROFIT! When profit becomes harder and harder to achieve they exersize their right to move to a place where they can make more money! AND WHO CAN BLAME THEM?

Conclusion: Stop finding excuses to overtax businesses! Start taxing everyone the same percentage! Stop mandaiting that ethinal be used in place of oil forcing the oil companys to raise prices to maintain a profit for their stock holders! Start letting us drill for oil off the coast of florida like China is right now! The answer is simple! KEEP THE GOVERMENT OUT OF CAPITALISM! LET THE ECONOMY RUN ITSELF! WHEN GOVERMENT INTERVIENS IT ONLY FUCKS THINGS UP FO US ALL! IM TIRED OF HEARING ALL THIS COMPLAINING ABOUT OUR ECONOMY WHEN THE ANSWER IS RIGHT IN FRONT OF US THE WHOLE TIME!
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Old 02-28-2008, 11:58 PM
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Quote:
Originally Posted by A. Crowley View Post
Oh, I made the "Support Our Troops' magnets.
Then I had hundreds of millions of them distributed to American stores owned by Arabs, Persians and Indians, where you bought yours! (Made in China)
Gotta Love Capitalism.
Yep, total net worth of you magnets: 100 Fen, or 1 Yuan, or about $.14
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