Economics 101

Cost of War in Iraq (to date): US$556 billion

Cost of saving the US economy (initial): US$700 billion

It’s funny how Lyndon Johnson had privatised Fannie Mae in the 1960s to raise money for the Vietnam War. Perhaps now it’s time to stop the war to raise money to save the economy.  As they say in Economics 101, it’s about allocation of scare resources.

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2 Comments

Filed under World Happenings

2 responses to “Economics 101

  1. muffin man

    actually … *this is me putting on my econs hat :)*
    The US already does not have money or resource to pay for the war or the financial crisis. They have been in deficit since Bush took over (if i recall, Clinton left Bush a surplus but then 9/11 happened).

    So what do ctys do when they have no money – print money or borrow money! I think the US will be printing a lot of money so watch out for the inflation …

  2. Life is not an easy matter … You cannot live through it without falling into frustration and cynicism unless you have before you a great idea which raises you above personal misery, above weakness, above all kinds of perfidy and baseness.LeonTrotskyLeon Trotsky

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