Aug 5, 2003

This IS a Deja Vu - Do not adjust your computer screen.

I just cannot believe that NOBODY picked up on this story
because I am outraged - maybe it was the weekend. So it's back on page one.


First of the month financial news is always illuminating- if this doesn't PISS YOU OFF nothing will.
Bush Backers cite:
1) The decline in the "new unemployed" although the economy keeps shedding jobs
2) The increase in consumer spending and GDP although the one time 44 Billion dollar defense procurement accounted for that.

But Bush Backers have plenty to cheer about:
The big oil guys are VERY HAPPY: EXXON MOBIL scores big on war ChevronTexaco Profit Soars
ChevronTexaco Corp. CVX.N , the No. 2 U.S. oil company, on Friday said its quarterly profit quadrupled as refining and marketing margins improved and gas and oil prices rose closing the performance gap with more highly valued rivals Exxon Mobil Corp.

Halliburton shareholders and principals are estatic: Work in Iraq benefits Halliburton
Halliburton, the second biggest oilfield service company in the world, yesterday said work in Iraq had boosted revenue as it swung from a loss to record second-quarter net income of $26m, or 6 cents a share, compared with the year-earlier period. The Houston-based company credited the quarter's 11 per cent rise in revenue, to $3.6bn largely to increased activity in its Engineering and Construction Group (ECG) projects, including government services work in the Middle East.

Supporters at ENRON are pleased; Enron untouched in fight against corporate fraud
The Justice Department has proudly boasted of the hundreds of executives its Corporate Fraud Task Force has rounded up since its launch more than a year ago to fight white-collar crime. But the failure to bring charges against top executives at Enron, the signature case of the era, has loomed at least as large as prosecutors' many successes.

And the Defense contractors are already lining up for another trip to the trough in January:
Pentagon goes to Congress as war costs mount
When Lawrence Lindsey, then the White House's chief economic adviser, said in a published interview almost a year ago that he believed that the war in Iraq could cost anywhere from $100bn to $200bn (€88bn-€176bn, £62bn-£124bn), he was quickly admonished by his colleagues in the Bush administration.

How much looting, rape, and pillaging of our Treasury and our resources will it take before we throw these pirates out?
They say it is not about the oil but American Oil Corporations are taking record profits.
They say it is not about Halliburtion but those are the folks who are profiteering
They say it is not about corporate welfare and that privatization of public operations is cost effective but they do not punish the crooks.
They said this war would cost between 50 and 65 billion and it has already cost more with no end in site.
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