|
Thanks, Ken. I've passed this on to a couple
of lists I'm on. Both items suggest that the Bush Administration has done
almost unbelievable long-term damage to the US economy and probably the rest of
us as well.
Ed
----- Original Message -----
Sent: Tuesday, January 10, 2006 9:02
PM
Subject: Iraq war has cost the US
Trillions
The real cost of electing George Bush to run the US
Gov is slowly becomming apparent:
http://news.yahoo.com/news?tmpl=story&cid=2628&ncid=2628&e=9&u=/afp/20060110/ts_alt_afp/usiraqcosts_060110170127
WASHINGTON (AFP) - The Iraq war will likely
cost the United States between one and two trillion dollars, despite earlier
assurances by the White House that these expenses would be manageable,
according to a new study co-authored by a Nobel Prize-winning
economist.
The research made public Monday by Joseph Stiglitz of
Columbia University, former chief economist at the
World Bank, and economy professor Linda Bilmes of Harvard University, argues
current official assessments of the war cost fail to consider key expenses
likely to dog the US budget for years to come.
Other interesting story on China's 800
billion hoard of US dollars:
http://news.yahoo.com/s/ap/20060110/ap_on_bi_ge/china_foreign_reserves
BEIJING - China said Tuesday it has no plans to sell dollars from
its $800 billion-plus foreign reserves, rejecting speculation that had jolted
financial markets and fed speculation about the possible impact on the U.S.
dollar.
"We won't sell off our dollar-denominated assets," a central
bank official, Tang Xu, told Dow Jones Newswires.
China's foreign
currency regulator said last week its plans for 2006 include "widening the
foreign exchange reserves investment scope." That sparked speculation that
Beijing might shift some reserves from dollars, the bulk of its holdings, into
other currencies.
China's foreign currency reserves are the world's
second-biggest after Japan, and traders closely watch how they are handled.
Much of the reserves are in U.S. Treasuries, and any move to sell them could
influence bond and currency markets.
Ken
Davies
ImageMAKER Development Inc.
email: [EMAIL PROTECTED]
tel: (604)
525-2108
web: http://www.imgmaker.com - TIFF, JPEG and PDF print
drivers
http://www.ConversionServer.com - Automated Document
Conversion to TIFF, JPEG and
PDF.
http://www.DiscoveryAssistant.com - Archival Assistant for
Document Discovery.
http://www.imgprint.com -
client print drivers for TIFF, JPEG and PDF.
|
_______________________________________________
Futurework mailing list
[email protected]
http://fes.uwaterloo.ca/mailman/listinfo/futurework
