Dude, get real for once. If it weren't for the Bush administration and his republican pigs in the congress who pushed the rest of the nation into waging a false war in Iraq, we wouldn't have gotten into this mess in the first place (at least not this dramatically). So fuck McCain and his double-standard lies.
You need to get the facts straight. Most democrats supported the war as well by voting for it. They then campaign against it as if they weren't responsible, a true "double-standard lie". There is less of a difference between dems and reps than you think. Are you saying if we didn't invade Iraq there wouldn't have been a housing crisis??
No, dude, you need to get the facts straight. Bush knew at the time there was no imminent nuclear threat from Saddam and his cronies. It has since been documented that the false evidence they used to wage the war was FABRICATED! (I won't even bother giving you the source because you can easily find them plenty just by googling them.) How can you blame the Dems when they were offered lies for facts?! No, I'm not "saying if we didn't invade Iraq there wouldn't have been a housing crisis??" (I suggest you read more closely), but the GDP is falling off the cliff thanks in large part to over $2 billion a week that cost us in Iraq. (Source: http://www.boston.com/news/world/articles/2006/09/28/cost_of_iraq_war_nearly_2b_a_week/)
How much of that 2B a week is going to purchase American goods&services. You have weekly paychecks, Alot of that is sent home to be spent by their familes. The soliders spend lots of their money in special American military shops stocked with American goods. Part of 2B goes to replace weapons and equipment, also a big part of the GDP. I would argue that the war is helping GDP and without it the GDP would be much lower.
Again, I'm really not seeing the point of this. How would it not have been as dramatic? If you are implying the government would have more money to support/bail out the mortgage and real estate market, that would probably just delay the crisis indefinitely, preventing prices from falling to reasonable levels (probably what will happen anyway). I agree the war is largely a waste of money and messing up the deficit, but don't say it was somehow responsible for the real estate bubble forming. The war spending is benefiting many people including defense contractors, their workers/families, government research, etc it is not a complete economic loss. Without the defense industry, I'm not sure if ANYTHING would be manufactured in the US anymore.
Boyz, with the tightening of credit, where does Uncle Sam actually get the financing to cover the war expenses? Doesn't that come from issuing the bonds to the public, be it domestic or foreign? That only adds to the national debt that's on the verge of ripping at its seams. You don't think that will have any negative impact on our GDP, let alone the current economic malaise? I would like to think there's an unequivocal connection between the two.
Yes- because these soldiers would not be eating or otherwise consuming anything else if they were stateside. This is one of the dumbest things I have ever heard.
Shareholders, both common and prefered are going to be wiped out. Convertiable bonds will be worth less and ASIA, who has a vital intrest as they are carrying much of the "JUNK" paper on Fre and FNM may end up dumbing a majority of US investments. This is a signal to the world that the US STOCK MARKET is not a "FREE" and thriving Market. This signals that the manipulation by the US GOV and FED does not take into account shareholders. The US STOCK MARKET is finished IMHO. We will slowly bleed past the 911 support on the INDU, SPX, NAZ, and it will stay flat for a decade. Volume is going to dry up. Of course, the many pundits will not speak the truth. They moved to release the news over the weekend, not to cause market shock. Will be interesting to see if capitulation hits monday. not sure if it will come fast or later down the road when everyone wakes up and bails out of the stock market back into commoditties like OIL, Gold, or just go straight to cash...... This is going to be interesting.