Stiglitz: war costs causing credit and housing crises.
By on Feb 27th, 2008 at 6:14 pm
Stiglitz: war costs causing credit and housing crises.
Nobel laureate economist Joseph Stiglitz told London’s Chatham House today that the Iraq war has so far cost the United States $3.3 trillion, and that those costs are the “hidden cause of the current credit crunch” and housing crisis. Stiglitz added that “[t]he money being spent on the war each week would be enough to wipe out illiteracy around the world” and “[j]ust a few days’ funding would be enough to provide health insurance for US children who were not covered.”
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Hot damn, it actually sounds like people are waking up to the idea that this war is a disaster on so many levels. Maybe we should actually start talking seriously about bringing our troops home?
February 27th, 2008 at 6:21 pmThe money spent on war could eradicate all the reasons for war, hunger, poverty, injustice, etc. But the hysterics keep it all going.
February 27th, 2008 at 6:22 pmWhat the hell does he know, he’s just a Nobel Laureate economist.
February 27th, 2008 at 6:25 pmOh.
The money spent on war could eradicate all the reasons for war, hunger, poverty, injustice, etc.
Amen! SAY IT LOUDER, BRUDDAH!!
And Bush could give two $h!ts about kids being insured (or anything having to do with any average American if it’s not one of his cronies taking money from said average American).
February 27th, 2008 at 6:28 pm[. . .] plunging the US economy into recession and saddling the next US president with the biggest budget deficit in history, he said.”
And that is the George Bush legacy.
As well as this:
[. . .] Some 100,000 servicemen have been diagnosed with serious psychological problems and the soldiers doing the most tours of duty have not yet returned.
February 27th, 2008 at 6:29 pmYeah, but that wouldn’t make republicans richer, or feed the military-industrial-governmental complex.
February 27th, 2008 at 6:29 pm“Yeah, but that wouldn’t make republicans richer, or feed the military-industrial-governmental complex.”
And some of these proud parents are going to get a big jolt, when Johnny comes ‘a marching home.
February 27th, 2008 at 6:32 pmWe’re all going to get a jolt…
February 27th, 2008 at 6:36 pmBushco has set screwed about 98% of Americans ( because he only works for the upper 2% ). So for the stupid asses that voted for the worst Pres. in US history ( esp the ones that did so twice ! ) remember that with McCain you really get McBush for a 3rd term.
Go Obama !
February 27th, 2008 at 6:37 pmRather than admitting he was wrong, irresponsible, incompetent, an immoral lying phony and personally responsible for the deaths of hundreds of thousands of innocent human beings, George W. Bush would rather drive our country into bankruptcy and recession to prevent the truth from being known. That’s the reprehensible legacy of the most destructive president in United States history.
February 27th, 2008 at 6:37 pmBut they wouldn’t get to pump themselves up and thump their chests with their pseudo-patriotism. Building and creating is boring. Bombing and blowing things up is exciting! Abiding by the will of the people isn’t glamorous. Getting to tell the people lies and scaring the shit out of them daily and making obscene amounts of money doing it is.
February 27th, 2008 at 6:49 pmBut the hysterics keep it all going.
Comment by ForTruth — February 27, 2008 @ 6:22 pm
I think it’s the war profiteers who are keeping it going, FT.
February 27th, 2008 at 6:52 pmI think it’s the war profiteers who are keeping it going, FT.
Comment by Bushed — February 27, 2008 @ 6:52 pm
==============================================
I think it’s the immorality, dishonesty and greed of today’s Republican party.
February 27th, 2008 at 6:56 pmyeah, but we’d rather spend it on a protracted hissy-fit that profits defense contractors, right Righties??
February 27th, 2008 at 7:16 pmAnd our infrastructure will be crumbling in front of our eyes as the dollars not spent here will come back to haunt us there.
February 27th, 2008 at 7:51 pmThe American people better come out of their comas before it’s to late (it might already be too late).
The biggest transfer of wealth in U.S. history has taken place right in front of their American Idol glazed eyes under the cover of 9/11, national security, deregulation, “lower taxes” and the rest of the Bush gang scams.
The Bush gang seems to follow the P.T. Barnum credo of you can never underestimate the gullibility of the public……or was it a sucker is born every minute.
February 27th, 2008 at 8:05 pmHow about patriotism is the last refuge of the scoundrel?
That’s right. And high gas prices are a backdoor tax caused by the Republican Wars and Bush unpopularity worldwide.
(And we still have to force our kids to pay for the Iraq Occupation)
February 27th, 2008 at 8:14 pmIs it possible that McCain’s personal bank account is engaged in war profits of the military industrial complex?
Those pesky little birdies out there spilling the beans are all over the place these days…
Comment by satirev
Can you be a little more specific here, maybe a link or something? Otherwise you’re channeling Fox…
February 27th, 2008 at 8:42 pmNail, meet head.
February 27th, 2008 at 9:01 pmMan, what a difference 7 years can make.
February 28th, 2008 at 10:09 amOur leaders do not want to reduce illiteracy here or around the globe. Then the people would rise up and demand better leadership. I wish anti-war people would stop saying the war is costing us “billions” or “nearly a trillion”. Stiglitz and Bilmes spell it out. It is $3.3 TRILLION.
February 28th, 2008 at 12:16 pmSad thing is, if it wasn’t being spent on the war, it still wouldn’t be spent on ANYTHING that would benefit human beings in any way – it would go to further tax breaks for very wealthy people & multi-national off-shore corporations.
So, it may as well be spent reducing the population, especially in countries containing our oil…
February 28th, 2008 at 1:24 pm” In the sad aftermath that always follows a great war there is nothing sadder than the suprise of the returned soldiers when they discover that they are regared generally as a nuisance, and not to honest.”
H L Mencken. July 23,1932
February 28th, 2008 at 4:23 pm