From: Spudboy100@aol.com
Date: Sat Mar 08 2003 - 22:24:12 MST
Terry W. Colvin, quoting the article bt Laurie Garrett:
<<- If the U.S. unilaterally goes to war, and it is anything short of a
quick surgical strike (lasting less than 30 days), the economists were all
predicting extreme economic gloom: falling dollar value, rising spot
market oil prices, the Fed pushing interest rates down towards zero with
resulting increase in national debt, severe trouble in all countries whose
currency is guaranteed agains the dollar (which is just about everybody
except the EU), a near cessation of all development and humanitarian
programs for poor countries. Very few economists or ministers of finance
predicted the world getting out of that economic funk for minimally
five-10 years, once the downward spiral ensues.>>
I suspect that the economic growth by most of the European nations have been
rather lackluster, over the last several years, as has been Japan's anemic
low growth economy. Do these masters of their respective central banks have a
track record of producing new jobs in Europe? I believe the answer is to the
contrary. Are they not reflecting the current European tendency to favor
entitlements over growth?
<<- Not surprisingly, the business community was in no mood to hear about a
war in Iraq. Except for diehard American Republicans, a few Brit Tories
and some Middle East folks the WEF was in a foul, angry anti-American
mood. Last year the WEF was a lovefest for America. This year the mood was
so ugly that it reminded me of what it felt like to be an American
overseas in the Reagan years. The rich -- whether they are French or
Chinese or just about anybody -- are livid about the Iraq crisis primarily
because they believe it will sink their financial fortunes.>>
These people are, as Charles Krauthammer stated, "Ok with Saddam having WMD,
and doing business with him." I would further add (polemicist that I am) that
most of this elite, and the not-so-elites; don't give a fart what happended
on 9-11, and what would happen if and when Iraq, or North Korea, or Iran
decide to send to nastiness to the US. The statement last year, by Chirac,
about us "Now being all Americans" was merely a political puffery. We should
take gratuitious statements such as that, as no more important than their
criticisms. >:-)
<<- US unilateralism is seen as arrogant, bullyish. If the U.S. cannot
behave in partnership with its allies -- especially the Europeans -- it
risks not only political alliance but BUSINESS, as well...>>
Poor babies. Its a war over oil, especially if one is part of the EU elite.
40 billion worth and counting on the French side.
<<I learned that the US economy is the primary drag on the global economy,
and only a handful of nations have sufficient internal growth to thrive
when the US is stagnating>>
And Americans made their cows give sour milk!
This archive was generated by hypermail 2.1.5 : Sat Mar 08 2003 - 22:29:21 MST