10th Anniversary of the Iraq War, the Price of Gas, and the Mess We’re In Today

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Iraqi alSamoud missiles on way to being destroyed. (Feb 2003)Tuesday marks the tenth anniversary of the saddest chapter of the George W. Bush presidency. Every disaster to follow… to this day… can be traced back to that decision to invade a relatively unarmed nation that had not attacked us, under the false pretense of “Weapons of Mass Destruction”. Our exploding National Debt, our decimated economy (from gas prices that led to the mortgage crisis that led to the Wall Street bailout), to even our muted response to North Korea’s latest reckless provocation. It all goes back to the decision to invade Iraq. So on this inauspicious anniversary, we should pause for a moment to reflect on how it all ties in.

It all began, incredibly enough, back in April of 1993 when Former President George H.W. Bush (“Bush-41”), fresh off his reelection defeat to Bill Clinton, traveled to Kuwait to bask in his “greatest achievement” as president: Winning the “Gulf War” and kicking Saddam Hussein out of Kuwait (after we basically gave him the green light to do so). While in Kuwait, a plot to assassinate the former president by Saddam’s military was uncovered and thwarted. Newly sworn-in President Clinton responded by launching a missile strike on the HQ of Iraqi Intelligence, but that wasn’t enough for Bush’s son, “George W”, who never forgave… nor forgot… the attempt on his father’s life.

A group of Right Wing pro-military extremists… few of which had actually ever served in the military… calling themselves “Neo-Conservatives” (“neocons” for short) formed a group called “Project for a New American Century” (“PNAC”) and repeatedly urged President Clinton to overthrow Saddam Hussein… a dictator that was in charge of the world’s fourth largest oil reserves, on the grounds he was developing “Weapons of Mass Destruction” (most notably Sarin nerve gas.) President Clinton did in fact take the bait several times, first launching a missile strike against what was believed to be an Iraqi “chemical weapons plant” in Sudan in August of 1998 that turned out to be nothing more than a pharmaceutical company making generic Tylenol for export to Iraq (in a program approved by the U.N.) and then again in December 1998 in response to Saddam’s continued refusal to comply with U.N. weapons inspectors. Senate Majority Leader Trent Lott called the timing of the strike on Iraq “suspect” and “cursory”… “an effort by President Clinton to distract Americans from his pending impeachment.” After both strikes failed to turn up any evidence of WMD’s, the Clinton Administration never again claimed Saddam Hussein currently possessed “Weapons of Mass Destruction” (sans one remark by Sec. Albright in 1999 noting that UN monitors “had yet to verify” Saddam had been disarmed, and another mention in September of 2000 of not wanting Iraq to “reconstitute” its [defunct] WMD program.)

Why was Saddam refusing to cooperate with weapons inspectors when he had no weapons?

Shortly after his execution, Saddam’s closest American confidant while in captivity revealed that the Iraqi dictator admitted, “I lied about WMD’s to scare off Iran”… the country he had been at war with for eight years. If Iran knew that following the 1991 Gulf War he had been left defenseless, Iran would invade. If the U.S. believed he had WMD’s, so would the Iranians. Little did he realize he had more to fear from gullible American Neo-cons than he did from Iran.

It wasn’t until Texas Governor George W. Bush entered the Presidential race in February of 2000 that anyone started claiming Iraq “still possessed” and might be actively pursuing WMD’s.

Two Texas oilmen, George Bush & Dick Cheney, took office planning the invasion of Iraq & overthrow of Saddam Hussein “from Day One”. So single-minded focused on Iraq was he, Bush “ignored” the threat of alQaeda, despite multiple recent bombings including the attack on the USS Cole less than one month before the election.

Rather than go into the weeds regarding all the warnings President Bush ignored prior to 9/11, I’ll simply refer you to this NYT article. Worthy of note:
 

“[N]eoconservative leaders who had recently assumed power at the Pentagon were warning the White House that the C.I.A. had been fooled [re: warnings of a stateside attack by alQaeda]; according to this theory, Bin Laden was merely pretending to be planning an attack to distract the administration from Saddam Hussein, whom the neoconservatives saw as a greater threat.”

 
Moving on…

The Bush Administration started cooking up a reason to invade Iraq from day one, but “9/11” helped seal the deal, praying on the fears of a panic-stricken populace with daily warnings of another looming attack on the “homeland”. It didn’t matter that prior to “9/11”, President Bush’s own Secretary of State and National Security Adviser (Colin “Slideshow” Powell and Condi “Mushroom Cloud” Rice respectively) had already spent the preceding year reassuring people that Saddam had been “disarmed” and “no longer a threat”:
 


 
Barely two years in office, with the war in Afghanistan still going on and the economy in the toilet, people were asking if we could even afford to start a second war. The Bush Administration worked overtime to allay fears that the invasion of Iraq would not only “pay for itself” but possibly even turn a profit as the price of oil plunged from the heady highs of $30+ dollars a barrel to a more reasonable $18 dollars/barrel once Saddam was no longer in control of all that luscious oil (reminder, five years later, oil was hitting a then unimaginable high of $145/barrel, and still hovers close to $100 to this day.) “No blood for oil!” the people cried. “Blood for oil?”, asked the Bushies perplexed. Why on Earth would anyone think Operation Iraqi Liberation” had anything to do with “oil”?

Current TV’s John Fugelsang recalled last week how much the war that was promised “to pay for itself in Iraqi oil revenues” actually ended up costing us (roughly $1-TRILLION dollars… not counting the economic catastrophe, the loss of over 4,000 American troops, or the future cost of caring for our wounded warriors:
 

Fugelsang on Iraq War cost:

 
Finally on the evening on March 19th, 2003 (just after midnight, March 20th Baghdad time), despite months of unimpeded UN weapons inspections, Bush gave the order to invade Iraq. Between 9/11/01 and 3/20/03, the price of oil barely fluctuated from its close of $28.03/barrel on September 8, 2001 to $29.88/barrel on March 20, 2003. Yet one year after “Mission Accomplished”, oil closed at $40/barrel after the Energy Department warned in April of 2004 that oil was likely to hit the lofty height of $51/barrel by 2025. Oil broke that “distant future 2025” price by September. And you thought “Mission Accomplished” had something to do with the end of the war. Silly you.
 

 
As I described in detail about a year ago, the rising price of gasoline meant people had less money to spend elsewhere. And when people aren’t buying, companies need fewer employees, causing the economy to contract even more. To make matters worse, a deregulated banking industry took advantage of interest rates being cut to the bone after 9/11, and continued to rate “mortgaged backed securities” as “AAA” even after newly unemployed Americans were defaulting on their Adjustable Rate Mortgages left & right as rates started to spike. Suddenly, the Bush Administration was faced with having to bailout Wall Street to the tune of $700 BILLION dollars… or about 40 percent MORE than the ENTIRE 2008 Federal Deficit. As a result, the Deficit exploded from just $459 Billion in 2008 to over $1.4 Trillion in 2009 (both budgets written by the Bush Administration as a “fiscal year” stretches from October 1st to September 30th.)

So the Obama Administration took office after being handed a $1.4T Deficit. With the Bailout behind them, the next Deficit would only be around $500-Billion, but in May, “The Stimulus” added back $787-Billion to the Deficit for 2010. The following year, it was revealed that for the past seven years, the Bush Administration had been running two wars “off the books” funded entirely with “Emergency Supplementals” (PDF). In late 2010, despite the 2008 Wall Street bailout being behind us and the 2009 “Stimulus” over & done with, the wars were put on the books and the Deficit remained at the “over $1 Trillion” level until just this year with the latest budget coming in just under the $1T mark. And just as the Market was trained to accept $100 oil as “the new normal”, so will military spending in the hundreds of billions become commonplace even after the war in Afghanistan is over.

And here we are. Happy 10th Anniversary Everybody!
 

The Neocons that brought us Iraq

Now go put some air in your tires and cheat the oil companies out of a few bucks.
 


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March 18, 2013 · Admin Mugsy · No Comments - Add
Posted in: Economy, Energy Independence, Middle East, Money, Politics, Right-wing Facism, Terrorism, War