Bush needs the Saudis to charge us big bucks for oil. The Saudis can't lend the US Treasury and Citibank hundreds of billions of US dollars unless they first get these US dollars from the US. The high price of oil is, in effect, a tax levied by Bush but collected by the oil industry and the Gulf kingdoms to fund our multi-trillion dollar governmental and private debt-load. Full Story »
Posted by Ben Ross
To:
Separate email addresses with commas.
25 recipients max.
Note:
Palast takes the news from an independent angle. Does not pull punches. He makes statements which may be true and are still difficult to corroborate...like "Forget the cost of health care: General Motorsâ interest burden quintupled in just two years." Must read! like Krugman!
Palast is a loudmouth who speaks his mind in no uncertain terms. Fortunately for readers who love that, he also has a habit of being right. Unlike so many of the economic analysis pieces I read, this article gives readers the really big picture--combining global politics and economics. And makes sense of it all.
How is war paid for? Not with current taxes. It is paid for with borrowed money. How is it that the Gulf States have that much money to lend? $100 per barrel oil. The war would be more difficult to fund without expensive oil.
Retrieving Comments
