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Iraq Revolution

by Dave
12/19/2006 11:31:00 AM

There is something going on in Iraq but it remains unclear whether that is a civil war or something else.   Maybe what we should call it is a "revolution."

Compare and contrast this story: "Iraq on brink of collapse" with this one: " Iraq's economy is starting to blossom."

The second story was put out in Newsweek's international edition and claims the reason Iraq's economy is booming is due to money pouring in from abroad.   Whatever the causes, "Global Insight puts GDP growth at 17 percent last year and projects 13 percent for 2006."   You wouldn't know it from the newspaper or television reports but oil is flowing and, according to Newsweek, securityin improving in the southern oilfields so earnings could rise in the future.   Some notable developments: "Salaries have gone up more than 100 percent since the fall of Saddam, and income-tax cuts (from 45 percent to just 15 percent) have put more cash in Iraqi pockets."   Now, that explains it.   Bush did it again.   He gave Iraqis income tax cuts!

But anyway you slice it, democracy hinges on good economic prospects.   Maybe we can pull the rabbit out of the hat on this one yet!

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