Posted on 12/18/2006 12:49:53 PM PST by West Coast Conservative
It may sound unreal, given the daily images of carnage and chaos. But for a certain plucky breed of businessmen, there's good money to be made in Iraq. Consider Iraqna, the leading mobile-phone company. For sure, its quarterly reports seldom make for dull reading. Despite employees kidnapped, cell-phone towers bombed, storefronts shot up and a huge security budget—up to four guards for each employee—the company posted revenues of $333 million in 2005. This year, it's on track to take in $520 million. The U.S. State Department reports that there are now 7.1 million mobile-phone subscribers in Iraq, up from just 1.4 million two years ago. Says Wael Ziada, an analyst in Cairo who tracks Iraqna: "There will always be pockets of money and wealth, no matter how bad the situation gets."
Civil war or not, Iraq has an economy, and—mother of all surprises—it's doing remarkably well. Real estate is booming. Construction, retail and wholesale trade sectors are healthy, too, according to a report by Global Insight in London. The U.S. Chamber of Commerce reports 34,000 registered companies in Iraq, up from 8,000 three years ago. Sales of secondhand cars, televisions and mobile phones have all risen sharply. Estimates vary, but one from Global Insight puts GDP growth at 17 percent last year and projects 13 percent for 2006. The World Bank has it lower: at 4 percent this year. But, given all the attention paid to deteriorating security, the startling fact is that Iraq is growing at all.
How? Iraq is a crippled nation growing on the financial equivalent of steroids, with money pouring in from abroad. National oil revenues and foreign grants look set to total $41 billion this year, according to the IMF. With security improving in one key spot—the southern oilfields—that figure could go up.
(Excerpt) Read more at msnbc.msn.com ...
No, it's the image you are painting, you media morons, that is unreal.
The economy exposes the truth.
If we cut and run the Iraqis will simply do business with others. We'd be the biggest losers.
Of course the economy is booming in Iraq now. There is going to be all kinds of good news now that the Democrat Party has ascended to power.
Sort of ironic that a company that provides the means for detonating IEDs has to have a fat security expense in the budget.
Well what do you say we send them that invoice for ohhhh..let's make it a progress payment for earned value. Send us $150 Billion now and $150 Billion next year Mustaqffa. You can keep the blown up Humvees.
No, because I know the MSM focuses on the carnage and chaos, and has largely ignored the progress in Iraq over the past 3-1/2 years.
Reading between the lines will reveal the "catch" to this story.
Iraq's "strong economy" is the equivalent of an urban sh!t-hole in the U.S. where unemployment is low and per-capita GDP is astronomical due to heavy police activity, heavy demand for prison guards, excessive demand for energy to power the electric chair, robust construction and building materials sectors as vandalism requires endless reconstruction/repair of buildings, etc.
Now that the public has been blackmailed into 'doing the right thing at the ballot box' the media lifts some of its embargo on success in Iraq.
Wow! Life in Iraq might be much much better than it was under Saddam.
Keep voting democrat and will tell you the whole story- MSM
But remember if you misbehave at the ballot box we will have to undermine your troops in the field-- so be good cause we know who has been naughty or nice.-- MSM
I would say the Funeral business in Iraq is booming.
WOW amazing if you get rid of enemy propaganda in our media and tell the stories of the good you find there is actually really good news out of Iraq... hmmm I gues its all because the Democrats are in charge now right?
Slaps forehead. Now why didn't I realize that? Geez!
:)
My hobbies: Extreme Flashlights - Extreme Cars - Lemon Law/Buybacks - Metal Detecting
It is nice to read this sort of news (in a departure from the norm, I really want to have been wrong initially on Iraq). If the economy really is dramatically improving in Iraq, the death-cult message of the terrorists and insurgents will soon fail to find many sympathetic ears. Like has already been stated in the thread, the economy, as always, exposes the truth.
Yes, the economy is on the upswing.
But just FYI, Newsweek, (as they very well know), there is NOT a civil war.
Very poor choice of phrases here...
;-)
Why is this such a secret? We know this. This is preaching to the choir. I want to know why it was not used by the RNC?
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