mcv50
06-13-2007, 07:59 AM
The disastrous impact on the economy of George W. Bush's response to the attacks of September 2001 is still being measured. On Friday of last week the Bush Administration announced that it would not renominate Gen. Peter Pace as chairman of the Joint Chiefs of Staff. The Administration's decision to throw a loyal supporter overboard avoids a messy confirmation hearing that would have further focused a war-weary nation's attention on the past. But sometimes looking backward can help us anticipate the future.
In February of this year, Rep. Henry Waxman's Committee on Oversight and Government Reform revealed fresh details of how the Coalition Provisional Authority dumped $12 billion in cash--in $100 bills--into Iraq in 2004. Multiple flights of huge C-130 transport planes were required to deliver 363 tons of greenbacks--a modest portion of the $510 billion we have spent so far in Iraq and Afghanistan. By certain measures, this may not be America's most expensive war. But the worst economic effects are yet to come.
No matter how the Iraq War ends, it is clear that the United States is incapable of militarily securing territory against the wishes of a hostile population. And the Iraq War is at the heart of two alarming trends that are likely to have a negative impact on America's position in the world: The demand for oil is rising while the supply is declining, and the demand for the US dollar is declining while the supply of dollars is rising. Read more here... (http://iraqimillionaire.blogspot.com/2007/06/iraq-and-declining-dollar.html)
In February of this year, Rep. Henry Waxman's Committee on Oversight and Government Reform revealed fresh details of how the Coalition Provisional Authority dumped $12 billion in cash--in $100 bills--into Iraq in 2004. Multiple flights of huge C-130 transport planes were required to deliver 363 tons of greenbacks--a modest portion of the $510 billion we have spent so far in Iraq and Afghanistan. By certain measures, this may not be America's most expensive war. But the worst economic effects are yet to come.
No matter how the Iraq War ends, it is clear that the United States is incapable of militarily securing territory against the wishes of a hostile population. And the Iraq War is at the heart of two alarming trends that are likely to have a negative impact on America's position in the world: The demand for oil is rising while the supply is declining, and the demand for the US dollar is declining while the supply of dollars is rising. Read more here... (http://iraqimillionaire.blogspot.com/2007/06/iraq-and-declining-dollar.html)