But, as they say: Possession is nine tenths' of the Law.
I do not see the US ever leaving Iraq entirely while there is significant oil.
This need not be a problem - eg they're still in Cuba - but they are going to have to realise that the only Iraq settlement will be a multilateral one and not on terms they dictate.
But the $64 trillion question is what sort of settlement it will be... "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
Of course, WW IV is possible, but, so far, it looks like Russia and China are just playing the U.S. like a crawdad on a piece of bacon. The stupid crawdad just won't let go of the bacon, as long as you haul him in sorta slow-like. paul spencer
All kinds of examples from cycle maintenance could be given, but the most striking example of value rigidity I can think of is the old South Indian Monkey Trap, which depends on value rigidity for its effectiveness. The trap consists of a hollowed-out coconut chained to a stake. The coconut has some rice inside which can be grabbed through a small hole. The hole is big enough so that the monkey's hand can go in, but too small for his fist with rice in it to come out. The monkey reaches in and is suddenly trapped...by nothing more than his own value rigidity. He can't revalue the rice. He cannot see that freedom without rice is more valuable than capture with it. The villagers are coming to get him and take him away. They're coming closer -- closer! -- now! What general advice...not specific advice...but what general advice would you give the poor monkey in circumstances like this?
The trap consists of a hollowed-out coconut chained to a stake. The coconut has some rice inside which can be grabbed through a small hole. The hole is big enough so that the monkey's hand can go in, but too small for his fist with rice in it to come out. The monkey reaches in and is suddenly trapped...by nothing more than his own value rigidity.
He can't revalue the rice. He cannot see that freedom without rice is more valuable than capture with it. The villagers are coming to get him and take him away. They're coming closer -- closer! -- now!
What general advice...not specific advice...but what general advice would you give the poor monkey in circumstances like this?
From "Zen and the Art of Motorcycle Maintenance", of course, if you hadn't guessed... "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
