RE: [lpsf-discuss] Surprise - Iraq's economy booming

Here are the key words....

How? Iraq is a crippled nation growing on the financial equivalent of

steroids, with money pouring in from abroad. National oil revenues and

foreign grants look set to total $41 billion this year, according to

the IMF. With security improving in one key spot-the southern

oilfields-that figure could go up.

This is not a naturally sustaining is being funded by
outside-government issued fiat currencies...all hoping to participate in
oil revenues generated by invading a sovereign country and stealing its


Certainly that is a major factor. But I think we are also seeing something of the Somalia phenomenon. In Iraq it is not a case of no government, but of a government that is so preoccupied with security concerns that it has little time for imposing regulations and bureaucracy.

Love & liberty,
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