Massive world recession to occur if Iraq attacked: Economist

XINHUA NEWS AGENCY / Drudge ^

[Arthur Wildfire! March]

Wow, this is like deja vu all over again. They said the same thing last time we attacked Iraq. I'm sure he is right. We should all sit here on our butts and wait to be nuked. That would be much better for the world economy.

A few nukes blowing up major metropolitan areas? The TAX REVENUE, man! The TAX REVENUE! Think of all those poor desk jockeys who would get laid off if we got nuked? Have you no sympathy for our army of poorly fed, poorly paid beaurocrats?

[chilepepper]

I stopped subscribing to the Economist when I realized that they were enthusiastic Clinton fans.

They've lost any credibility they once may have had, at least from me...

[Mr. Mojo]

look out for the pundits warning about "The Brutal Iraqi Winter" as well.

Yep, if there's a "brutal Iraqi winter," it'll be of the nuclear variety.

[Rodney King]

OPEC could not possibly push the price of oil to $70per barrel. Despite all of the gloom and doom, cartels really don't work very well, the incentive for each individual cartel member to cheat is too great. Plus, at like $35 per barrel a whole lot of currently un-economic wells in the US and elsewhere would suddenly become economic, and their production would come on line.

[DreamWeaver]

IMO, knowing that my fellow Americans are used to luxury and material things, anyone traveling abroad can see the difference compared to many " other countries." Believe it or not, "they" will give up luxuries and material things just on principle. Keep in mind also, many other countries have lived without, and are used to it. I guarantee you that the ones that are mocking the forecasts will be the 1st ones to be outraged and complaining as they wait in gas lines for gas at exhorbantant prices.. Guaranteed !

[Servant of the Nine]

EIU predicted that the world would suffer a massive recession if Iraq were attacked and Middle East oil producers protested by pushing up the oil price.

If, If, If.

If parakeets were Eagles, housecats would be in a lot of trouble.

Last week at the OPEC Oil Ministers meeting, Kuwait and Iran anounced that they woul see that suplies and prices reamained constant during any US war with Iraq.

So9

[wingnuts'nbolts]

Anybody remember the burning oil fields Saddam ignited as he retreated from our forces during Desert Storm? Anybody remember any world wide or local recessions? Anybody remember the long lines of surrendering opposition forces begging to be taken?

These discussions sound like we were planning to invade some huge world power. This is just Iraq folks. The dumb and dummer. The Iraqi population want this despot removed. It will be over before it's begun. Who then will have the oil, the new friendly regime? Who then will be helping the new regime?

[stimulate]

Couldn't that all change if the United States had control of Iraq oil?

[stimulate]

Good point!

[dogbyte12]

Well, if the US totally occupied Iraq, the oil wouldn't come out in a day. The tankers wouldn't steam out in a day. It takes time. There is a potential for a short term economic down turn. That is not reason enough not to fight Hussein, just something we should know about going in.

[He Rides A White Horse]

Robin Bew, the chief economist of the EIU, told Xinhua

Xinhua, the official mouthpiece of the Chinese Communists.

[Enduring Freedom]

BULL$HIT!

Waiting for War in Iraq is what is depressing the market because of its uncertainty - remove the uncertainty, with the added benefit of blowing away terrorist Saddam, would be a major upside for the markets.

Eurotrash Liberal One-World A$$holes run the Economist, or did you forget?

[M Kehoe]

Well, I'm an economist and I don't think this will happen. Matter of fact, just the opposit of what this guy concluded.

Aren't second opinions wonderful?

5.56mm

[billybudd]

Link to the article

[billybudd]

Refer to my comment #54