How would you test that? Some type of limited dependent variable model with the dependent variable being “Saddam Hussein is deposed (yes/no)” and the RHS variables including dummy variables for “War/No War” and “France and the US co-operate (yes/no)”? What is the distribution of the error terms? How big is your sample?

Massive devaluations work

Yep. And US debts being denominated in dollars, we get the default thrown in for free.

I’ve thought for some time that fear-mongering over the US current-account deficit was massively overblown, at least from the parochial American standpoint. The losers from a dollar crisis would be almost entirely abroad. And the accompanying inflation, by reducing the debt-service burden (of households especially, but businesses too) would be highly stimualtive.

The downside of course would be the possibility of a new international financial architecture not based on the dollar, meaning we probably would not get to pull the same trick again.

Yep. And US debts being denominated in dollars, we get the default thrown in for free.

I’ve thought for some time that fear-mongering over the US current-account deficit was massively overblown, at least from the parochial American standpoint. The losers from a dollar crisis would be almost entirely abroad. And the accompanying inflation, by reducing the debt-service burden (of households especially, but businesses too) would be highly stimulative.

The downside of course would be the possibility of a new international financial architecture not based on the dollar, meaning we probably would not get to pull the same trick again.

Except you know what? I’m not. Properly functioning comment software is kind of a solved problem.

The important thing to note is that when the USA acts alone, a hundred thousand people die. When it stands together with France, putting the rogue state on notice that it can’t depend on its historic friends, we win without firing a shot. ”

In Haiti, however, we have a less-well-publicised Iraq, courtesy of the US and France both.

In any event, upon further review I can spot where my reasoning is not quite on point, but then again the comparison between Iraq and Lebanon is not quite on point, so what’s the point?

If US lenders have to pay a risk premium, or borrow in hard currency, then it gets a lot harder to borrow to invest.

This has a major impact over time.

Ian Whitchurch

Not the kind of finding one mentions in any institution in which the French have an active role.

2l Black Beans
2l Diced Tomatoes
1l White Rice, cooked

While you eat, you might reflect upon all the people whose lives were destroyed in December of 2001.

Sounds like a pretty ugly indictment of France if that is all there is to it. Apparently if France would stand up against dictators, they would fall. That is what you are implying right?

But Daniel, Iraq was a one-off, and the ad-hoc (ex-post-facto!) justifications are not seriously meant to apply to anything else. Shall we hope things are back to normal now?

‘Largely unnoticed with the focus on the war and insurgency in Iraq, and overshadowed by an upsurge in violence in Saudi Arabia, terrorist violence is also on the increase in neighboring Kuwait. The Kuwaiti government had been concerned that the preparations for the invasion of Iraq that began in late 2002 would spur an increase in violent attacks directed at either U.S. or coalition troops. During the run up to the invasion in March 2003 the Kuwaiti government ordered a large area along its border with Iraq vacated, and worked with Americans and others to keep the visibility of foreigners at a low level. In spite of this, there were several violent altercations between locals and individuals associated with military preparations for attacking Iraq. Several persons were injured and at least two died….’

http://www.gnn.tv/articles/1148/Terrorist_Violence_in_Kuwait

Etc. etc.

And yes isn’t it funny how those who trumped the US’ new commitment to democracy never mention the exciting tale of Haiti?

‘Tuesday marked one year since Haitian President Jean-Bertrand Aristide fled to exile in South Africa, and the world still doesn’t know the truth of what happened, insists U.S. Rep. Barbara Lee.
Lee, D-Oakland, and a few others in Congress believe the United States at least passively aided the coup that ousted Haiti’s democratically elected leader. They want answers.

“We would oppose the overthrow of our own government, and there must be no doubt that we would oppose the overthrow of other democratically elected governments,” she said in a news release. “Yet today, grave doubts remain about the role the Bush administration played in the removal of President Aristide. This is a fundamental issue of democracy, and the American people deserve to know the truth about just what happened.”

Lee two weeks ago reintroduced The Responsibility To Uncover The Truth about Haiti Act to create an independent commission to probe the coup.

Haiti remains wracked by strife….’

http://www.insidebayarea.com/oaklandtribune/localnews/ci_2592551

Or Venezuela?

‘The failed coup in Venezuela was closely tied to senior officials in the US government, The Observer has established. They have long histories in the ‘dirty wars’ of the 1980s, and links to death squads working in Central America at that time. Washington’s involvement in the turbulent events that briefly removed left-wing leader Hugo Chavez from power last weekend resurrects fears about US ambitions in the hemisphere.

It also also deepens doubts about policy in the region being made by appointees to the Bush administration, all of whom owe their careers to serving in the dirty wars under President Reagan.

One of them, Elliot Abrams, who gave a nod to the attempted Venezuelan coup, has a conviction for misleading Congress over the infamous Iran-Contra affair.

The Bush administration has tried to distance itself from the coup. It immediately endorsed the new government under businessman Pedro Carmona. But the coup was sent dramatically into reverse after 48 hours.

Now officials at the Organisation of American States and other diplomatic sources, talking to The Observer, assert that the US administration was not only aware the coup was about to take place, but had sanctioned it, presuming it to be destined for success….’

http://www.lovearth.net/venezuelacouplinkedtobushteam.htm