Wednesday, February 15, 2006

Small change

Compulsory reading from Joseph E. Stiglitz on the cost (financial) of the war in Iraq. He puts the figure at anything up to $2 trillion and concludes "One cannot help but wonder: were there alternative ways of spending a fraction of the war's $1-2 trillion in costs that would have better strengthened security, boosted prosperity, and promoted democracy?". Of course while the rest of the economy and the US (and UK) population suffer the consequences of the over-spend, where has the money been spent? And which group of investors are most heavily involved in the "winners" from the big war spend? Defence? The Carlyle Group? Halliburton?

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