Bigthink - Idea Comments Feed

Comment on: Re: What is the legacy of the Iraq war?

Bigthink — Tue, 26 Feb 2008 21:01:33 +0100

The legacy is of the Iraq War has not been how much it would cost, Rumsfeld estimated $1.7 billion at the onset. The question is how much will it cost us to "stabilize" (i.e. keep the price of oil down) the region by shipping billions of USD to our Israeli and Saudi friends.

As Krugman points out, the half trillion has been put onto the US "credit card bill," so we don't see its effects immediately. Great. Except if you are 21, like me. Oh, and no effects on the economy? Why are we entering a recession? Could it be because Asia has lost faith in the USD?

I think the ultimate question was whether we could secure enough oil in Iraq and Afghanistan to keep the petrodollar strong and therefore still get loans.

Of course, the Iraq War is a small % of the GDP compared to WWII. But back then WE WERE ACTUALLY PRODUCING GOODS instead of printing US bonds and money. True economic health cannot be measured with GDP alone.

Comment on: Re: What is the legacy of the Iraq war?

Bigthink — Wed, 30 Jan 2008 19:19:56 +0100

Regardless if the war in Iraq has been less expensive than WWII or Vietnam is irrelevant. We are spending way to much of tax payers money for an unjust war. And even if the effect on our economy is minimal it is still an effect that we do not want. Secondly, the money that we are spending on killing people we should be spending here at home on our schools, our infrastructure, our environment, and our social programs.

Comment on: Re: What is the legacy of the Iraq war?

Bigthink — Mon, 21 Jan 2008 19:34:38 +0100

I'm sure Mr. Krugman is correct with the numbers he sites in proportion to the national GDP, after all he is an economist. What he fails to realize or even answer is the question posed to him; ie."what is the legacy of the Iraq war?" If his implied answer was that the legacy of this war will be "insignificant". Maybe so to the general american public, but defenitely not insignicant to people that are oposed to war and to family members that have relatives fighting it. And if after the elections we find ourselves without an exit strategy out of Iraq, we will reach Vietnam casualty levels and I would like to know who is for that? Just because the cost of this war is insignificant as percentage of the national GDP, doesn't mean we can afford to stay there indefenitely.

Comment on: Re: What is the legacy of the Iraq war?

Bigthink — Fri, 18 Jan 2008 21:36:16 +0100

In the aggregate, Krugman is correct. He is simply citing numbers and then saying these low numbers mean little effect. However, we don't live our lives at the level of the aggregate, but in the disaggregate. The fact that GDP increases or decreases this year has little meaning for the individual person or family. What matters is how the change is distributed.

In the disaggregate there have been economic winners and economic losers. Identifying who each is and why is of fundamental importance.

Comment on: Re: What is the legacy of the Iraq war?

Bigthink — Thu, 17 Jan 2008 04:54:37 +0100

In terms of the economy, Iraq is not having an appreciable monetary effect, at this point, but what about the effect it is having on our "Brand Name" and "consumer confidence". The most obvious reason for the lack of a World War Two "all-in" strategy, is the lack of justification based on security threat value. If you told every American that they would have to pitch in time, life and limb, to ensure that Iraq did not obtain Weapons of Mass Destruction, the result would have been a regieme change here at home. but if you can limit the response to a small segment of the poulation (preferably the lesser priveleged)and tie the effort to some altruistic goal (in word, not deed) you will be blessed with the necessary level of apathy to perpetrate your agenda. The farther you stand from the profits the more obvious the strategy appears, and our neighbors of the western world have an impressive bird's eye view. While we may serve short term needs for expanding energy markets, we do irreparable damage to our credibility with our world neighbors, who, at some point, will mortgage their interest in our relationship before the neighborhood depreciates.

Comment on: Re: What is the legacy of the Iraq war?

Bigthink — Thu, 17 Jan 2008 02:13:24 +0100

What is the what of where????

Comment on: Re: What is the legacy of the Iraq war?

Bigthink — Wed, 16 Jan 2008 09:09:33 +0100

this is new to me! never really thought if it in these terms.