Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Snowshoe who wrote (35078)	6/18/2003 3:10:57 AM
From: Raymond Duray	Read Replies (2) of 74559

Snowshoe, This Permanent Fund notion seems like complete pie-in-the-sky. Why? The infrastructure of Iraq's oil industry requires billions of dollars of investment in order to become cash flow positive after feeding the people and paying some small percentage on the external debts of the nation. A permanent savings fund is simply a luxury that Iraq might want to consider in about eight years time, if the oil industry can actually be brought up to modern standards within that time frame. JM200B$

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