This should come as no suprise to anyone, and the American people may have a right to be upset about this.
Halliburton were the only people (contractors) in the world who could develop the oil infrastructure in a desert. The US military complex sits on the world's largest oil reserve, and that's being addressed in lieu of global economic development. Why else would they be involved in the war if this was just about terrorists? The terrorists, or the Taliban were given weapons by the US during the Cold War to protect themselves, later to have Tony Blair got Bill Clinton involved with Afghanistan because they had infact become terrorists. So the war against just them should not be this taxing on America.
Remember, early in Bush's 1st term OPEC wanted to price oil in Euros.
So how many people died for the U.S. oil? Could this have been prevented? Sure! We could drill offshore for oil in Alaska. Ford bought patents for electrical cars and only until recently have hybrids come out into the market. Instead, Bush gave people incentives to drive gas guzzlers and pursued this.
Even worse, Halliburton gouged the American taxpayers for their services (they could very well take credit for the size of the war expense, the US troops spend less than 5% of the federal budget each year during peacetimes). Let's not forget, they treated our troops like dirt. Forcing the troops to drink contaminated water...charging $40.00 for a can of coke, $100 for one bag of laundry http://www.youtube.com/watch?v=QeIxHQ-lkuM&feature=PlayList&p=A114000D0319B862&playnext=1&playnext_from=PL&index=19
and they claimed that the expenses were due to the exchange rate, which floats 2.5 times the US Dollar. Which still doesn't justify the extreme expenses charged to the U.S. taxpayer.
Who in the right mind would volunteer to suffer these working conditions for someone else's profit in a free market? The troops really don't have a say, they're told that they're defending our country's freedoms. Well, I'm sure they're not so nieve. But such, under such agreements they're stuck working under those conditions.
With that being said, Halliburton moved from Texas to Dubai to avoid paying their taxes. Cheney also had a stake in Halliburton's performance. Hmmmmm.....
To date, over $600 billion was allocated to the War in Iraq. http://www.nationalpriorities.org/costofwar_home
Other sources claim that the War expense is $3 trillion.
Just think about that. We're selling treasuries to China and paying them interest to finance this. China has purchased treasuries to keep the Yuan valued lower than the US Dollar and now they're wondering if we can even pay this off at this point. Mind you, our economy is struggling due to the trade deficit, offshoring and outsourcing. The foreclosures that stemmed the subprime meltdown wouldn't happen if people were able to make their mortgage payments. The economy is a lot more severe than what could be caused by people who got irresponsible loans on their mortgages.
What's even worse, both India and China are developing countries with a billion people each. India is trying to innovate energy efficiency in transportation, China just signed a deal with Iran for oil. The U.S. only has 300 million people. China will drive up the demand and price for oil no matter how hard they conserve.
If anyone doesn't see the distaster in this, read the Gleaner. We don't give the rastafarian Jamaicans enough credit, some of their own studied Economics at Universities in the UK and are very articulate in the matter. The smaller countries with their own economies struggle due to these macroeconomic riptides.
Everyone see's the long term solution, which is development of alternatives. Unfortunately, oil is supposed to be the cheapest forms of energy. Obama is promising these things. The democratic talking heads, even Michael Moore is rumored to hold shares (or previously held shares) of Halliburton.
Hillary is the Secretary of State previously awarded Halliburton no bid contracts and Madame Speaker Nancy Pelosi is famous for her flip flopping (say one thing, do another). So basically Obama's administration looks to be in favor of the War in Iraq, or they're just utterly incompetant sellouts. Or both.
Well here's the point of the blog. A CFO can be charged with embezzlement for stealing from their company. What is going on here can be argued as the embezzlement of the American taxpayers, the federal budget to enhance the profits of a few, by our Congress and the former President. We were lied to about the war. People died for oil. Soldiers come back impressed with the value of real estate in that sector of the world, they're not fighting for our freedoms.
They're taking our money for a war, then giving it to Halliburton who is evading taxes in Dubai and profitteering at our expense. This is an indirect result, but our leaders enacted fiscal management of disasterous proportions to support the war expenses which resulted economic havoc in America. My opinion about Obama is incompetancy and illiteracy in economics, and possibly misplaced agendas.
Bernanke purposely lowered interest rates in 04, when the economy was reported as "Strong". The Fed is only supposed to lower interest rates to stimulate the economy with credit. IF the economy is strong, interest rates are supposed to go up. Bernanke purposely did that to increase the housing bubble with the use of ARM loans.
The trade deficit was flirting at record levels. Jobs were offshored and outsourced. The job creation was only in the service sector or temporary work which paid lower wages, creating more difficulty to come up with middle class living standards. Yet somehow the GDP still amounted to $13 trillion. There is no possible way for real wages to decline, a trade deficit to be at record levels and the GDP to go up that high.
This is my own conclusion. I suspect that deregulation was purposely enacted to make the US appear more credit worthy to finance these war ventures. This is not a free market. This is not freedom. Bush increased the size of government which Obama will also do and people will think socialism is the answer in lieu of the subprime collapse. True justice is to eliminate Americans of their tax burdens until these criminals are charged, imprisoned ... and return the money they took from our coffers. There should be no bailout or stimulus outside of aid to the American citizen (vs. corporation). We have a total disaster on our hands.