Zeev's Turnips Patch-No Politics (ZEEV)

[Stock in Truth]

I think the Iraq war was one of the reasons the economy picked up in late 2004 (along with the housing bubble, massive foreign bond purchases, and the new mini bubble in stocks, among other things). We couldn't afford it, and went into debt doing it, but that's all part of the current mentality in the current credit bubble anyways. Debt creation always brings on short term economic growth. In the end, however, the excesses will have to be eliminted one way or another.


Outstanding debt increased 850 billion dollars in the 4th quarter of 2003, to 34.5 trillion, and the rate is accellerating as we approach outstanding debt to GDP ratio of 310%
http://www.federalreserve.gov/releases/z1/current/z1r-4.pdf