This was a good example of US Military lies.
- The first link is the US Military denial of targeting the civilian neighborhood.
- In the second link the US Military confesses attacking civilians.
U.S. Denies Targeting Baghdad Community
By PAULINE JELINEK
WASHINGTON (AP) - U.S. military officials on Wednesday denied targeting a residential section of Baghdad where cruise missiles struck near a market, killing 14 people. ...
U.S. Admits Residential Baghdad Strikes
By PAULINE JELINEK
Wednesday, March 26, 2003; 2:13 PM
The Associated Press - The Pentagon acknowledged striking targets in a residential Baghdad neighborhood that may have caused civilian damage or deaths Wednesday ...
Thanks for an interesting read. I found this quote to be memorable.
"The mistake most bulls make is to project the performance of the economy onto the stock market. The mistake many bears make is to project the performance of the stock market onto the economy. It is quite possible for the stock market to drop 50% and for the economy to muddle through."
The broad S&P has dropped over 40% from its highs of 2000. The economy has seen a mild recession and some eratic growth in that same period. I'm betting on ranges for now.
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"1) getting the stock market going again
"2) getting the economy moving again
"It would seem plausible that solving 2 will improve 1."
At first glance it might "seem" plausible but consider this bit from John Mauldin:
"For new readers, let me once again make an important point: there is no long-term connection between the growth of the stock market and the growth of the economy. As a recent example, the economy grew 373% in the 17 years from the beginning of 1965 to the end of 1981, while the Dow was absolutely flat. From 1981 through 1998 the economy "only" grew 177%, while the Dow surged over 1000%, or ten times in just 17 years. If you go all the way to the end of 1999, it was up 13 times with a growth less than half that of 1965 through 1981, when the market was flat!"
ouguru2, now I see your reference here.
Of course you realize that you are facing reports from:
and a number of other apparently independent sources.
Remember you trust authority. Well as I remeber it Arnett is THE authority on wars in Iraq. :-)
ouguru2: again it is getting hard to hide. Reality is an awfully demanding taskmaster.
Ah now I understand your position.
Might we not have two loosely coupled problems here:
1) getting the stock market going again
2) getting the economy moving again
It would seem plausible that solving 2 will improve 1.
My thoughts are focused solely how to improve the stock market: possibly by forcably injecting more money into the stock market.
If the goal is improving the economy, then of course my suggestion won't work. We will need abuot $300B in 2003 injected probably from the feds to make this happen.
$3B is only a very small drop in a very big bucket. With trading volume at an
estimated 170% of GDP, or $17 trillion annually that doesn't even amount to the
proverbial rounding error.
Thank you Davy Jonz, my point exactly. With capex spending practically nil and individual investors wary, there is very little cash going into this economy, which is what needed to drive the markets higher.