CNN/AP: 9/11 factors boost Gulf economies ("galloping economic boom")

[DeepModem Mom]

The Saudis, and Midland, Texas -- ridin' high!


9/11 factors boost Gulf economies
Sunday, August 21, 2005


DUBAI, United Arab Emirates (AP) -- In the United States, the September 11 attacks are seen as the catalyst for a period of fear, war and economic worry.

But in the oil-rich Arab countries of the Gulf, September 11 is increasingly being seen as the event that kicked off a galloping economic boom -- and prodded investors to pull their money out of a United States perceived as hostile to Arabs, and instead invest it at home.

Since late 2001, economies in the six Gulf Cooperation Council countries have soared, with stock markets up a collective 400 percent. During the same period, investments from those countries into the U.S. slowed to a trickle.

In Saudi Arabia, birthplace of 15 of the 19 terrorists involved in the September 11 attacks, gross domestic product rose 37 percent between 2001 and last year. In the Emirates, home to two of the terrorists, GDP jumped almost 50 percent.

By contrast, the U.S. economy rose 16 percent during the same period.

***

Most of the credit for the wealth influx here is due to the tripling of oil prices since 2001 to current levels of over US$60 (euro50) a barrel....

http://www.cnn.com/2005/BUSINESS/08/21/gulf.911.ap/index.html

[Turbineguy]

1. So there actually is

a Bush Economic Miracle.

[DeepModem Mom]

2. That's right -- LOL!

[leesa]

3. This is very bad news for us economically and yet CNN is treating

it lightly. SA is drawing hundreds of billions out of our economy as are the other countries because of the psychopathic cowboy. Seems to be a new trend linking SA with 9-11. CNN would never mention it before...are they being punished for withdrawing their billions and now we will blame them for 9-11? Careful, George, it's not safe to blame your partners in crime.

[aquart]

4. How nice for them.

How sucky for us.

[0rganism]

5. By royal decree, the SCLM shall sing the praises of 3% annual growth

"Best economic forecast ever!"

"Go ahead and buy some new cars now! Your credit is good FOREVER!"

"The tax cuts are essential to the Miraculous Bush Economy!"

Feh.

[Straight Shooter]

6. Okay, George, where were those hijackers from?

These are your friends, George. As my father used to say, "With friends like that, who needs enemies?"

We are all getting hoist on bush's petard, and most Americans don't even recognize it.

[daleo]

7. Nice to see the war is helping out somebody's economy

Besides Halliburton.

[krkaufman]

8. Was just thinking this the other night...

In how many ways has Bush's handling of the post-9/11 period been bungled, actually aiding the "enemy" and their objectives.

- Record oil prices are providing massive cash to those funding terrorists.
- Half-hearted efforts in Afghanistan have led to a resurgence in opium production, also increasing terrorist funding.
- (Illegal, unsupported, bungled) Iraq war is driving up terrorist recruiting and providing a training ground for terrorists, whilst simultaneously bankrupting the US and diverting us from critical needs.