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Politics : Foreign Affairs Discussion Group

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To: Nadine Carroll who wrote (35322)	7/30/2002 9:05:53 PM
From: Dayuhan	Read Replies (1) of 281500

One question: wouldn't lots of military spending help the economy? Not really. Military spending is generally acknowledged to have the highest inflationary effect (expensive goods with no economically productive purpose) and the lowest pump-priming effect of any form of Government spending. It is by no means certain that any form of Government spending would be of long-term benefit to the economy; military spending is the type least likely to help. The real economic risk of a war in the Middle East, of course, is not what the Government will spend, but the collateral costs imposed by the inevitable rise in oil prices. Meanwhile, having blasted the market slide from the rooftops for days on end, the Times now buries the current rally inside. The current rally has a fair way to go before it can be taken seriously. What do you think would happen to it if the price of crude doubled?

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