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2003 economist predicts $2T war, $75 oil

Abbott and Costello YouTube Video Site
Abbott and Costello YouTube Video Site Abbott and Costello YouTube Video Site
Abbott and Costello YouTube Video Site

In this March 5, 2003 broadcast, two weeks before the invasion of Iraq, Yale economist William Nordhaus was ridiculed for predicting a war with Iraq might cost as much as $750 Billion in war costs, $2 Trillion in economic costs, create $75 a barrel oil and $3 a gallon gas. And in all this, he still didn't count military rehab or increased domestic security costs, so even HIS estimate was low! Mission Accomplished!

Channel: News & Politics
Uploaded: December 31, 1969 at 4:59 pm
Author: BI30

Length: 06:39
Rating: 4.66
Views: 12260

Tags: Afghanistan  Baghdad  blood  BP  Bush  Cheney  Exxon  for  Halliburton  Hussein  Mobil  neocon  oil  Rumsfeld  Saddam  Shell  Texaco  WMD  

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cvenzke410 (December 31, 1969 at 4:59 pm)
So let me get this stright. Your happy with how our economy is doing right now?? Also, you think that president Bush has done a good job?? Like that MGD commerical says " I think to re-think your drink there buddy!!" Unfortunatley it's going to take a Liberal with new ideas to get us out of this mess and not a conservative such as McCain and Bush are. You sir need to do your research better before you open your mouth.
KhmerD0g (December 31, 1969 at 4:59 pm)
inflation did happen in 1979-80 but no economy collapse. it's bad as hyper-inflation. paul volcker jacked interest to 22% and stop printing money and inflation stop.
BI30 (December 31, 1969 at 4:59 pm)
Actually, that does take it into account. "Hyper-inflation" only results when the economy collapses, and that won't happen as long as no one loses all their money. Germany and now Zimbabwe had/have nothing like the FDIC or SEC.
KhmerD0g (December 31, 1969 at 4:59 pm)
u didn't take hyper-inflation into account. if FDIC guarantees your deposit up to $100,000, but that money can only buy you a sandwich. just like germany in 1929 and today zimbabwe, u need to carry a bag full of one thousand dollar bills just to buy movie ticket.
BI30 (December 31, 1969 at 4:59 pm)
Fortunately, thanks to FDR, there will never be a "Great Depression II". Thanks to things like the FDIC, Social Security, and the SEC created under him, no one will lose all their money or end up destitute if their bank goes broke. Damn Librulz.
KhmerD0g (December 31, 1969 at 4:59 pm)
this was air in 2003. damn, the worst case prediction is right. today nov. 2008, we are in recession and credit crisis. hold on, my prediction is we will have stock market crashes in 2009 then triggers great depression. final insult to injury, the dollar collapses.
BI30 (December 31, 1969 at 4:59 pm)
I see the error now. You're confusing Bush no longer funding the reconstruction of Iraq with Iraq funding their OWN reconstruction. Problem is, they're bankrolling their oil profits, not pouring it into reconstruction. Just because "WE" aren't paying for reconstruction doesn't mean it's actually taking place. As for, "the US is not the enemy", that depends on what country you're in. Russians didn't perceive themselves to be "the enemy" when they invaded Afghanistan in the 80's either.
BI30 (December 31, 1969 at 4:59 pm)
If you had any vids of your own, you'd know it's not possible to edit comments after they've been submitted. I hold comments for Approval before posting for several reasons: 1) To fight Spam and off-topic posts like "See my video!" 2) To stop "flame-wars" before they begin. 3) Despite my dislike for the Bushies, I delete comments advocating they me killed or maimed. 4) I delete all comments attacking our troops. 5) Repeat offenders get blocked. I'd pay careful attention to #5 if I were you.
HisMajestyOKeefe (December 31, 1969 at 4:59 pm)
Oh, you edit before posting eh? Like that Freedom of selective speech? Bet I can find you posting a rant about Bush controlling free speech with FISA actions... first time I've seen that since some Nazi Rumanian guy did that on YouTube...hmmm
HisMajestyOKeefe (December 31, 1969 at 4:59 pm)
never saw it post once, Mr Techno Nerd, and my failure to prove my thesis does not render my thesis invalid Congress called for Iraq to pay more of its own reconstruction, when they looked into it (they always look into it AFTER making stupid statements) They found Iraq qas paying 90% now. If you are a friend of the USA we sure dont need any enemies, go bitch to Putin, China, Mozambique, 90% of Africa,the UN. Ukraine and Poland know, Solzenietzen knew, The US is not the enemy

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