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Pale_Rider Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-07-04 07:25 PM
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What Price Glory?
Edited on Wed Apr-07-04 07:26 PM by white_rider
A newly release Bush File that was a briefing paper for O'Neill.

http://thepriceofloyalty.ronsuskind.com/thebushfiles/ar...

Iraq and the U.S. Economy

During the fall of 2002, the Bush administration was busy developing plans for an invasion of Iraq. As a part of this effort, the Treasury Department was directed to study the possible economic impact of a Middle East war. The briefing was not intended for the president, however, but for Vice President Cheney, who was coordinating Iraq policy. Treasury's research resulted in a September 11, 2002, memo to Secretary O'Neill preparing him for his meeting with Cheney. The document, written by assistant secretary Richard Clarida, found that a war was unlikely to "derail the expansion," but it did project a worst-case scenario that could reduce GDP growth by 0.9 percent, raise unemployment by three-tenths of a point, and increase inflation. Clarida's forecast, however, deals only with the impact from fluctuations in the price of oil. Not until the last two paragraphs of the four-page memo does he acknowledge that the economic impact of war might not be limited to rising oil prices. War could have unpredictable consequences for the American economy.

... snip ...

Wonder if anyone else anticipated that gasoline prices would increase with this war?
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mastein Donating Member (294 posts) Send PM | Profile | Ignore Thu Apr-08-04 12:46 PM
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1. You think???
Make no bones of it. Energy (Enron et al) got this president into office, and he works for them, and only them. He let them manipulate the Cal. electric market in 01-02 and is helping his boys in Lubbock out every way he can. There are so many things the energy companies have been allowed to do on this watch it isn't funny. Look for gas prices to vary inversley with Bush's standing in the polls. If it looks like he will lose on other issues through this summer, he will do everything he can to make his friends (and himself by fundraising) rich as hell.
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