Could you say overall, the Iraq war screwed the world, financially !

[yenrod]

http://news.bbc.co.uk/1/hi/programmes/world_news_america/7922428.stm

 

[yello]

My first thought is that it's far too simplistic an argument. But I'll read the link to see if I think there's some substance that statement.

 

[Mr Pig]

I think it's a good article.

I think the world's economy was going to crash anyway though because it was unsustainable as it was.

 

[yello]

I think it's a good article.

I got a bit lost in the overworked allegory. I don't see an Iraq war link tbh.

What I do read is an op-ed piece about the special relationship and who is better suited to take charge of the world's economy.

The assumption is that it is the 'head of the free world', but the European leaders are all jumping up and down like kids at a party shouting 'me me me' - each trying to prove their credentials on the international stage.

Sarkozy tries to emulate Blair by being everywhere at once, a whore to the camera, on the basis that you have to be seen to be believed perhaps. Merkel and Brown take the dour protestant work ethic route. But Obama has the shiny suit and for some reason he's the de-facto leader and they all need to impress him. Did anyone ask Mugabe?

 

[yenrod]

> I don't see an Iraq war link tbh.

It was just an overall thing btw.

 

[Keith Oates]

I don't think the Irag war had any influence on this problem, our financial "wizards" managed it all by themselves!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

[tyred]

I'm no financial expert but from what I see, this problem was created by a combination of bank and government stupidity on a grand scale.

 

[yello]

> I don't see an Iraq war link tbh.

It was just an overall thing btw.

Ah, okay. Sorry, I thought you were suggesting the article infered that. My apologies.

 

[Shaun]

So, does way-over-the-hilt consumer borrowing (to get all their goodies NOW) have any impact at all?

 

[yello]

So, does way-over-the-hilt consumer borrowing (to get all their goodies NOW) have any impact at all?

Oh indeed it does! It's natural enough (perhaps??) to want but people can only borrow what they are allowed to. There has been some risky lending going on... and then those risky debts sold on etc etc etc.