·Popular past posts ·

How belligerence takes money out of your pocket. The slightest hint of a delay in the war on Iraq is enough to raise the Nasdaq 5 percent and the other major markets 3 percent in a single day (New York Times):

Stocks rose sharply today (3/13/03), as investors overcame some of their worries about a possible war with Iraq and bought beaten-down shares after the United States indicated its willingness to delay a vote on a United Nations resolution against Baghdad until next week.

The beating your 401(k) account has taken since the Clinton years is linked to the uncertainty that Bush war plans impose on the financial markets, which translates into a general unwillingness to invest in jobs, facilities, or equipment. Add to that W's record deficit spending, the limitless costs of Iraqi reconstruction, the unknown costs of confrontation with North Korea, and anyone can see that the economy cannot recover until the beating of the war drums begins to fade.

It's ironic, but true: with the exception of the few industries to which his family is connected (energy, defense, security), Bush's war is very bad for business.

{ 5:19 PM }

.