.......is it worth it?
ISP
The 75 Billion Dollar Question...................
by ISP 11 Replies latest jw friends
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Satanus
I read that iran may be next. There may possibly be 22 countries, in total, which the shrub intends to hit. I also wonder what will be the economic state of the USA when the debt is unimaginably high, and it comes time to pay it. ?????? Have any of the hawks here got some thoughts on this?
SS
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Pleasuredome
well, even though its a few seconds of exquisit pleasure, it is worth the effort.
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ISP
Global shares slide on war fears By Richard Baum
SINGAPORE (Reuters) - Shares have fallen and the dollar eased in Asia as investors hunkered down for a prolonged war in Iraq and nudged up oil and gold prices.Click to enlarge photo Wall Street's tumble on Monday set the tone for stock traders, whose hopes for a quick end to the conflict faded amid harrowing pictures of captured and dead American soldiers and defiant retorts by the Iraqi leadership.
"Last week the markets...were pricing in a perfect war and obviously that hasn't been the outcome. (The U.S.-led forces) are going to win but there's going to be a price to pay," said Alan Wills, a broker at Forsyth Barr Frater Williams in New Zealand.
The economic price of the war was underlined on Tuesday when U.S. President George W. Bush asked lawmakers for $75 billion (47 billion pounds) to pay for the campaign and reward key allies.
Worries about the economic cost of a protracted conflict and the impact on consumer and investor sentiment helped shove U.S. and European blue-chip stocks to their biggest losses since September on Monday, although the losses in Asia were more modest.
Oil prices rose, helped by a partial shutdown of Nigeria's production. They bounced back strongly from four-month lows on Monday as Iraqi troops put up stiff resistance to the invading forces.
The dollar eased, with traders sceptical that a special Bank of Japan meeting on Tuesday would take action that would result in a weakening of the yen.
OPTIMISM FADES
Japanese shares lost less than one percent, underpinned by expectations the central bank meeting would take steps to aid the moribund economy.
The Nikkei average was down some 60 points at 8,376.70 by late morning.
"Looking back, last week's rally was based on an overly optimistic view on the war, and market participants have now calmed down, watching progress and what is actually happening," said Takahiro Nakajima, deputy general manager at Norinchukin Zenkyoren Asset Management.
Hong Kong was 0.9 percent lower in early trade. South Korea was the biggest loser, falling 2.3 percent, while Taiwan dropped 1.4 percent and Australia lost 0.7 percent. Singapore was flat.
The Dow tumbled 3.6 percent to 8,214.68 on Monday, snapping an eight-day rally. The Nasdaq Composite Index tumbled 3.7 percent to 1,369.78.
OIL UP
The oil market got a further boost from the shutting of nearly 40 percent of OPEC member Nigeria's oil output due to ethnic violence.
U.S. light crude oil for May delivery was up 18 cents a barrel at $28.84 after soaring 6.5 percent on Monday.
"Hopes for a swift end to this war are now beginning to fade," a Tokyo-based broker said.
Prime Minister Tony Blair said U.S. and British forces were nearing a crucial confrontation with Saddam's elite troops as they race to reach Baghdad as quickly as possible.
But military analysts fear the charge northwards has been so swift that supply lines are stretched and vulnerable to attack.
Gold, a traditional safe haven in times of war, climbed to $330.25 an ounce from $329.50 at the U.S. close.
The dollar was quoted at 120.52 yen, down from 120.65 yen in late New York trade. The euro stood at $1.0657 against $1.0637 in New York.
"Capital flows in New York are currently limited to those from U.S. stocks to Treasuries, and we are still not seeing a capital flight from U.S. assets to elsewhere," said Jun Kato, deputy branch manager at Shinkin Central Bank in New York.
"But if the view grows that the war will go on longer than had been expected, there's a greater risk of the dollar tumbling, as capital would then flow out from the U.S.," he said.
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freeman
IMHO the answer is yes, and the cost is much more then just the money as you well know. But you better explain it to everyone else because they are scratching their heads wondering what the hell you are talking about.
Freeman
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ISP
Ash, I heard Syria was next!
I think Bush's appetite will have subsided by then and even Blair won't go for it.
ISP
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freeman
Holly crap I hit the post button, my browser got updated, and there is a bunch of posts and mine is at the bottom. I guess everyone in the world knew what you were referring to. J
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ISP
Freeman...if anyone doesn't know what this is about.....they should be scratching their heads!
If Bush had been upfront about the cost.......the support for it would have been even less,IMHO.
Bush can get out of jail if the coalition can kick ass in the next week or so. If it lingers on....I think he is dog meat.
ISP
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ISP
Hey no worries Freeman! It happens.....
C'est la vie........cave canem.....hasta la vista.......
ISP
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SloBoy
Maybe a little off subject, but.....did anyone else see what company was one of the big winners in getting contracts to "re-build" Iraq?...remember Hali-burton? That's right, the same Hali-burton that V.P. Dick Cheney was a board member of. Have these guy's no shame?