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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: tradermike_1999 who started this subject2/22/2003 10:34:54 AM
From: Anchan  Read Replies (3) of 74559
 
In these days before the fun of murder begins, my impression, here in Australia, is often that U.S. politicians are either happy to endorse the war, or keep their mouths shut if they are not. But today I was impressed by an example of political courage.
Quoted in an article by Alan Ramsey, Feb 23 ed. of the Sydney Morning Herald, Australia:
--Quote--
US senator Robert Byrd,
former Senate Democrat leader and now its longest-serving
member (45 years), made a speech in the US Senate that puts
to shame so much of the pap of so many of our politicians.
This edited version of what he told his colleagues and his
nation should be read by everyone in this country. I make no
apologies for its length:

"On this February day, as this nation stands at the brink of
battle, every American on some level must be contemplating
the horrors of war. Yet this chamber is, for the most part,
silent. Ominously, dreadfully silent. There is no debate, no
discussion, no attempt to lay out for the nation the pros and
cons. There is nothing. We stand passively mute in the United
States Senate, paralysed by our own uncertainty, seemingly
stunned by the sheer turmoil of events.

"And this is no small conflagration we contemplate. This is no
simple attempt to defang a villain. This coming battle, if it
materialises, represents a turning point in US foreign policy
and possibly a turning point in the recent history of the world.

"This nation is about to embark upon the first test of a
revolutionary doctrine applied in an extraordinary way at an
unfortunate time. The doctrine of pre-emption - the idea that
the United States or any other nation can legitimately attack a
nation not imminently threatening but may be threatening in the
future - is a radical new twist on traditional self-defence. It
appears to be in contravention of international law and the UN
Charter. And it is being tested at a time of worldwide terrorism,
making many countries wonder if they will soon be on our hit list
or someone else's.

"High-level figures recently refused to take nuclear weapons
off the table when discussing a possible attack against Iraq.
What could be more destabilising and unwise? US intentions
are suddenly subject to worldwide speculation.
Anti-Americanism based on mistrust, misinformation, suspicion
and alarming rhetoric from US leaders is fracturing the once
solid alliance against terrorism which existed after September
11.

"Here at home the mood is grim. The economy is stumbling.
Fuel prices are rising. This Administration, now in power two
years, must be judged on its record. I believe that record is
dismal. In that scant two years, this Administration has
squandered a projected surplus of some $US5.6 trillion over
the next decade and taken us to projected deficits as far as
the eye can see. [Its] domestic policy has put many of our
states in dire financial condition. [It] has fostered policies which
have slowed economic growth. [It] has ignored urgent matters
such as the crisis in health care and for our elderly ...

"In foreign policy, this Administration has failed to find Osama
bin Laden. [It] has split traditional alliances, possibly crippling
for all time international order-keeping entities like the UN and
NATO. [It] has called into question the perception of the US as
well-intentioned peacekeeper. [It] has turned the patient art of
diplomacy into threats and name calling of the sort that reflects
poorly on the intelligence of our leaders and which will have
consequences for years to come.

"Calling heads of state pygmies, labelling whole countries as
evil, denigrating powerful European allies as irrelevant - these
types of crude insensitivities can do our great nation no good.
We may have massive military might, but we cannot fight global
terrorism on our own. Our awesome military machine can do
us little good if we suffer another devastating attack which
severely damages our economy. Our military manpower is
already stretched thin and we will need nations who can supply
troop strength, not just sign letters cheering us on.

"The war in Afghanistan has cost us $US37 billion so far, yet
there is evidence terrorism may already be starting to regain
its hold in the region. This Administration has not finished the
first war yet it is eager to embark on another conflict with perils
much greater. Is our attention span that short? Have we not
learned that after winning the war one must always secure the
peace? And yet we hear little about the aftermath of war in
Iraq. In the absence of plans, speculation abroad is rife.

"Will we seize Iraq's oil fields, becoming an occupying power
which controls price and supply? To whom do we propose to
hand power after Saddam Hussein? Will our war inflame the
Muslim world, resulting in devastating attacks on Israel? Will
Israel retaliate with its own nuclear arsenal? Will the Jordanian
and Saudi governments be toppled by radicals, bolstered by
Iran which has much closer ties to terrorism than Iraq? Could a
disruption of oil supply lead to worldwide recession?

" Has our senselessly bellicose language and our callous
disregard of the interests and opinions of other nations
increased the global race to join the nuclear club? In only two
short years this reckless and arrogant Administration has
initiated policies which may reap disastrous consequences for
years. One can understand the shock and anger of any
president after September 11. But to turn frustration and anger
into the destabilising and dangerous foreign policy the world is
witnessing is inexcusable. Frankly, many of the
pronouncements by this Administration are outrageous. There
is no other word.

"Yet this chamber is hauntingly silent. On what is possibly the
eve of horrific infliction of death and destruction on Iraq - a
population of which over 50 per cent is under the age of 15 -
this chamber is silent. On what is possibly only days before we
send thousands of our own citizens to face chemical and
biological warfare, this chamber is silent. On the eve of what
could be vicious terrorist retaliation for our attack on Iraq, it is
business as usual in the United States Senate.

"We are sleepwalking through history. In my heart of hearts I
pray this great nation and its trusting citizens are not in for the
rudest of awakenings. I truly question any president who can
say that a massive, unprovoked military attack on a nation
which is over 50 per cent children is 'in the highest moral
traditions of our country'. Our mistake was to put ourselves in a
corner so quickly. Our challenge is to find a graceful way out of
a box of our own making."
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