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This post has very little to do with food but since one cannot subsist on bread alone I think this is relevant as markets tumble throughout the world. The blame must rest squarely on GWB's shoulders.
A number of economists predicted that the Iraq War would cause a financial crisis for the United States, even before it began.
In November of 2002, Yale University professor William Nordhaus was quoted in the Independent as warning that: "A war in Iraq could cost the United States hundreds of billions of dollars, play havoc with an already depressed economy and tip the world into recession because of the adverse effect on oil prices, inflation and interest rates."
On the day that Bush began his bombing of Baghdad, a.k.a "Shock and Awe," March 20, 2003, CBS Market Watch predicted that, "If war with Iraq drags on longer than a few weeks or months most are predicting, corporate revenues will be flat for the coming year and will put the U.S. economy at risk of recession, according to a poll of chief financial officers."
GWB & deregulation: a lethal cocktail. It has brought us to this point as only he can spend over $12,000,000,000 every month on democratizing Iraq. The rest of us will have to pay for the rest of our lives before our kids take over the debts, as will the next generation.
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