US Companies Place Blame for Hardships on Iraq War

I missed this story in USA Today, but thankfully, Buzzflash made the link available:

Hundreds of companies blame the Iraq war for poor financial results in 2003, many warning that continued U.S. military involvement there could harm this year's performance.

Sad to say, I think they have it right.

Yes, the Iraq War ultimately has done booming business for some companies, specifically defense contractors and infrastructure firms and oil companies. But I've never been convinced - although I freely admit I'm not an economist or biz analyst - that the kind of situation that makes defense contractors happy is good for the country as a whole.

Sure, WWII helped bring the US out of the still-ravaging effects of the Great Depression. But at what costs?

For defense contractors to flourish, there has to be an atmosphere of fear and conflict. We usually have to be willing to give up a whole part of a generation of our young men - and now women - to the fight. WWII was a clearer war certainly than this fog of "War on Terror." WWII was supposed to end some of the ultimate world strife. Instead, this current war - the larger War on Terror and the specific war in Iraq - is open ended, Bush can call any new country into the fray at will, and he's done everything in his power to squelch criticism, up to and including making it seem like anyone who opposes him is in bed with the terrorists.

I'm not convinced fear and loathing can produce a robust US or world economy. And for America to flourish, the rest of the world cannot starve nor can it leave in fear of us.