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Bush Dismisses Iraq Recession: The War Has ‘Nothing To Do With The Economy’

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February 19, 2008 – Comments (6) | RELATED TICKERS: GLD , SKF , SRS

“Toute nation a le gouvernement qu’elle merite.”

Joseph de Maistre (“Every country has the government it deserves”)

The lack of confidence in the US, the dollar and the US stock market has a lot to do with this former college cheerleader made into the US president:

From Think Progress:

This morning on NBC’s Today Show, President Bush denied that the there’s any link between the faltering U.S. economy and $10 billion a month being spent on the Iraq war. In fact, according to Bush, the war is actually helping the economy:

CURRY: You don’t agree with that? It has nothing do with the economy, the war — spending on the war?

BUSH: I don’t think so. I think actually the spending in the war might help with jobs…because we’re buying equipment, and people are working. I think this economy is down because we built too many houses and the economy’s adjusting.

Watch it:

 

Wars can create employment, just like lung cancer (doctors) hurricanes (constrution) and forest fires (fire fighters). However, they destroy wealth and are a malinvestment of resources.

 

He who wishes to fight must first count the cost. When you engage in actual fighting, if victory is long in coming, then men's weapons will grow dull and their ardor will be dampened. If you lay siege to a town, you will exhaust your strength. Again, if the campaign is protracted, the resources of the State will not be equal to the strain. Now, when your weapons are dulled, your ardor dampened, your strength exhausted and your treasure spent, other chieftains will spring up to take advantage of your extremity. Then no man, however wise, will be able to avert the consequences that must ensue... In war, then, let your great object be victory, not lengthy campaigns.
-Sun Tzu, the Art of War 6 B.C.

 

Another funny picture and story.

Ron Paul before the War trying to save US / U.S.

 

 


 

 

 

 

6 Comments – Post Your Own

#1) On February 19, 2008 at 4:36 PM, abitare (39.81) wrote:

The comments on the article on Think Progress are great:

http://thinkprogress.org/2008/02/18/bush-iraq-economy/

Top Comments on digg.com 

 by yellowcakewalk on 02/18/2008 The economy is great for the top 1 to 5%. No one else matters to BushCo.

+65 diggs  

by Allegiance 21 hours ago Yes folks, there's our leader! Embarrassing, ain't he? +59 diggs  

by allowners 23 hours ago A Capitalist wet dream: Employment building stuff to destroy stuff (people, being a Capitalist commodity, included), so that they can rebuild stuff, later to be destroyed again. Neocon recycling it is. +59 diggs  

by Erich100 on 02/18/2008 The Fed has the most power over our economy. Nothing is left to chance with this manipulative corporation. Bush has done nothing to improve oversight of this monster.Therefore he is responsible. +48 diggs  

by toddcat 21 hours ago Right.....like that $300 billion which has been poured into the Iraq meat grinder couldn't have been invested wisely and have precluded all this financial pain. He doesn't think the war has any bearing on the economy because he's never had to balance a checkbook - and when he ran businesses, they failed - in his life. Azzhole. +39 diggs  

by mydigglogin 18 hours ago Ah, yes, the good ol' "broken window fallacy":
http://en.wikipedia.org/wiki/Parable_of_the_broken ... +35 diggs  

by GhostyBoy 23 hours ago Another intelligent and honest response from President Integrity! +30 diggs  

by chicofaraby 21 hours ago I thought your talking point was that the Democratic Congress hasn't done anything?

Maybe the right wing should decide on one line of bullshit? +26 diggs  

by dildoolielly 17 hours ago Besides starting wars based on lies, bankrupting the U.S., burning our constitution, spying on us and screwing young boys. It is now more than obvious that the enemy we face is not some bearded extremist hiding out in a cave, but our own home grown traitors and criminals posing as our representatives in Washington, D.C.

• $522 billion: U.S. Military budget this year.
• $484 billion: Cost of Iraq War thus far.

Sources: World Bank, National Priorities Project +24 diggs

 by carpespasm 18 hours ago There you have it folks. Straight from the horse's mouth. He said the US involvement in destroying and then slowly and badly occupying and rebuilding other countries, destabilizing the region of the world where we obtain much of our current fuel supplies, and making the rest of the world view us as a bunch of gung-ho idiots who've done all of this with no plan and no means of correcting the situation has nothing at all to do with the US economy sliding slowly down a shit-greased hill.
All hail our tunnel-visioned leader.

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#2) On February 19, 2008 at 8:47 PM, lquadland10 (< 20) wrote:

Look at Carl Rove, from kervill tx. Pres. Right Hand man.Groomed Bush for 20 years or longer.  Texas corridor largest land grab ever from Mexico to Canada. The war. The big corporate tax cuts and refunds from his first term in office. Follow the money and you will see the patience and planning of this man. There will be many surprises ahead.See the report from Glen Beck from 2-18-8 one of the big wigs in the finical part of the government QUIT his job and in one week is his last day. The word out on the street is that we will be completely bankrupt by 2057 if we don't change our ways and he is joining a group to keep this from happening. Buy oil and gold and groceries stores stock.

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#3) On February 19, 2008 at 8:59 PM, abitare (39.81) wrote:

lquadland10,

Good to hear from you. The "big wig" you mention is in on my previous post in a 60 minutes interview. Take a watch. 

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#4) On February 19, 2008 at 9:39 PM, lquadland10 (< 20) wrote:

COOL DID YOU SEE GLEN BECK TONIGHT> EVEN NOW MORE NEW BAD DEALS OUT

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#5) On February 19, 2008 at 10:29 PM, lquadland10 (< 20) wrote:

OH HECK|||||||||||||||||         I HAVE BEEN SAYING THIS EVER SENCE REGANOMICS CAME INTO PLAY AND NO ONE WAS LISTENING TO ME.

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#6) On February 20, 2008 at 12:08 AM, Bupp (28.52) wrote:

I can think of a lot of better ways to spend $10 billion a year.

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