Community | October 09, 2008 | 16 comments

The Iraq war hits Wall Street

source: http://therealnews.com/t/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=2518

Vierotchka
At almost $1 trillion, and counting, the Wall Street bailout will cost taxpayers as much as the Iraq war.

Barack Obama squandered the chance to lead with an alternative plan to the Wall Street bailout. Instead both Obama and McCain pushed for a plan that's not only deeply unpopular but potentially as costly as a new Iraq war. Too busy slinging mud at each other, both campaigns are ignoring the enormous significance and wide-ranging repercussions of the financial crisis, which British scholar John Gray defines as the US equivalent of the fall of the Soviet Union.

Pepe Escobar, born in Brazil is the roving correspondent for Asia Times and an analyst for The Real News Network. He's been a foreign correspondent since 1985, based in London, Milan, Los Angeles, Paris, Singapore, and Bangkok. Since the late 1990s, he has specialized in covering the arc from the Middle East to Central Asia, including the wars in Afghanistan and Iraq. He has made frequent visits to Iran and is the author of Globalistan and also Red Zone Blues: A Snapshot of Baghdad During the Surge both published by Nimble Books in 2007.

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16 comments // The Iraq war hits Wall Street

  • curiousG
    • 0
      curiousG  

    • i dont understand how you can vote no on a bill, then "ammend" it to look the same as the one you didn't pass and call it kashrut.

      how were you thinking about the american people when something like this is passed. it's our money that you're spending, do you think we're going to be ok with that?

    • 3 years ago
  • PrincessTiffany
  • stopnoise
  • matlaroche
  • TerryA
    • 0
      TerryA  
    • matlaroche:

      There are many factors involved in this, but the most influential is Europe. In the early 90's I was doing business in Eastern Europe. I watched as Western Europe put a financial strangle hold on Eastern Europe. Most of the Eastern countries (Poland, Chez Republics) had their own currencies that were traded modestly on the free market. Western Europe sabotaged their economy's creating double digit inflation, unemployment rates of 21% and higher. It made no sense at the time, but when the Euro was introduced, which was heralded as the new "global currency", Eastern Europe resisted to facilitate it or even recognize it.

      Then came the EU. To be a member they were required to accept and patronize all EU members and its new currency. It took ten years, but they eventually brought all the hold out countries to their knees.

      Financially it has been a boon for these countries, but it was the beginning of the true Global Economy. The U.S. as a whole has been resistant, as most of North America in accepting the Euro as the Global Currency, and the EU as Europe's ruling body.

      Look at where our Dollar stands in relation to the Euro. Ten years ago, you could buy ten Euro's for a Dollar. Today you can't by one. It is called the beginning of the "The New World Order".

      The first line of attack is always financial, it's the "Golden Rule".

    • 3 years ago
  • CalgarC
  • TerryA
    • 0
      TerryA  

    • This is only the tip of the iceberg. We surpassed the 10 Trillion dollar deficit number, an amount they said we would never hit. A number we can't even imagine.

      I have to agree with Maasanova, everything that has happened to this country over the last 71/2 years has been carefully planned and executed to perfection. It's amazing what can be accomplished when a country is run under a "State of Fear".

    • 3 years ago
  • phillyharper
  • futurehempfarmer
  • maasanova
    • 0
      maasanova  

    • Wars are created to drastically change the cultural landscape of the countries involved in the conflict. Iraq has suffered with loss of lives and political and social turmoil, while the US will suffer bankruptcy, political instability, and a diminished worldwide reputation. And don't think for a second that this wasn't planned.

    • 3 years ago
  • ChristmasAsen
  • maasanova
    • 0
      maasanova  
    • maasanova:

      Some call it globalism, the New World Order, neo-feudalism, command and control, world Zionism, neo-liberalism...call it whatever you want, but the US no longer the leading nation on the world stage. We've outgrown our economic usefulness and have now been absorbed by the bankers.

    • 3 years ago
  • ChristmasAsen
  • donkeyfly69
  • ChristmasAsen
  • themanwithadog
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