--- "J.D. Giorgis" <[EMAIL PROTECTED]> wrote: > Iraq Debts Add Up to Trouble > Economists say Bush administration officials are > wrong to assume that petroleum revenue will pay for > postwar reconstruction. > > http://www.latimes.com/news/printedition/front/la-war-iraqdebt4apr04.story > > WASHINGTON -- To hear some Bush administration > officials tell it, the reconstruction of Iraq will > largely pay for itself, thanks to a postwar gusher > of petroleum revenue. > > "The one thing that is certain is Iraq is a wealthy > nation," White House Press Secretary Ari Fleischer > said. > > A look at the national balance sheet tells a > different story. > > Iraq will emerge from the war a financial shambles, > many economists say, with a debt load bigger than > that > of Argentina, a cash flow crunch rivaling those of > Third World countries, a mountain of unresolved > compensation claims, a shaky currency, high > unemployment, galloping inflation and a crumbling > infrastructure expected to sustain more damage > before the shooting stops... <snip>
A sobering article. The need for a Marshall-type plan seems clear, if Iraq is to become stable and peaceful. <snipped out> > ..."Clearly, it's a basket case," said Dean Baker, > co-director of the liberal Center for Economic and > Policy Research in Washington... <on a much lighter note> That still makes it _more_ solvent than Cavallos, my NationStates Left-wing Utopia which has "Superb" Civil Rights and Political Freedoms, but the Economy is "Imploded!" :} Fixing The Real Thing Will Take More Than Barcoded Humans And Ubiquitous Security Cameras Maru :-/ __________________________________________________ Do you Yahoo!? Yahoo! Tax Center - File online, calculators, forms, and more http://tax.yahoo.com _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l
