the necessaily temporary stimulus of state & local spending also helped end the 2001 recession.
will the Second Saddam War "play in Peoria?" I dunno. With Republican Big Wigs like Kissinger, et al saying that they don't like it, I have some doubts. (BTW, I predicted that some Dem. would say the war was unpatriotic. For once my prediction worked out, with Arthur Schlesinger Jr. saying in the LA TIMES op-ed piece the other day that preemptive attacks are against the American Way.)
again the Roman analogy, to the Second Punic War. Where is our Cato the Elder, who repeats ad nauseum that "Saddam Must Be Destroyed"? Is this Condy Rice? Or has the job been taken over by the jingoistic punditocracy?
JD
-----Original Message-----
From: Michael Perelman
To: [EMAIL PROTECTED]
Sent: 8/17/2002 9:40 PM
Subject: [PEN-L:29560] Re: Re: production & realization
I suspect that the war is directed at the Nov. elections. If so, the
increase in demand will be too late, but such crap works politically in
the US. Without Bush's existing increase in spending [and the tax
cuts],
the downturn would have ben much worse.
On Sat, Aug 17, 2002 at 09:11:12PM -0700, Sabri Oncu wrote:
> Jim wrote:
>
> > So the "solution" to the undertow created new problems,
> > new imbalances, with which we are still living. I think
> > they'll keep the U.S. down for quite awhile, even without
> > a double dip, unless of course there's a major war.
>
> Jim,
>
> Do you think a war in Iraq, if it happens, is major enough to
> save the US? Or, do you have something bigger than that in mind?
>
> Sabri
>
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 530-898-5321
E-Mail [EMAIL PROTECTED]
