Sunday, March 20, 2011

US Dollar Collapse: Price of Oil: Study: US Wars To Cost $6 Trillion tnr.v,,, asm.v, btt.v, gbn.v, ktn.v, laq.v,, sgc.v, max.v,, abn.b, ura.v, bva.v, bvg.v, slw, mgn, epz.v, fst.v,

  It is not the new study, but even last September estimation of cost for US wars at $6 trillion is a mind-boggling. Today a lot of people are excited with Libya and we decided to run some numbers on true price of Oil and extend our previous post.

  You should always take everything in comparison and we will give one here: total budget request for 2011 is 2.36 Billion for the DOE Office of Energy Efficiency and Renewable Energy (EERE).

  On a separate note we guess that Arab League had a bad translation what No Fly Zone actually means - this mess has only started. Please make no mistake that this action is a grand preparation for the Iran operation and the last warning to this country, but what is this warning for if the hot heads in U.S. just want Iranian Oil?

"4. With all that scare US Dollar remains below long term uptrend line. It was not able to rally substantially even after all this panic - it is the big question mark. Somebody is already pricing Qn+1.

5. We should expect QE3 now almost for certain. Who will buy treasuries now, but the FED? It means more US Dollar supply - it means Inflation. Place to be Lithium, Rare Earths, Gold, Silver, Copper, Zinc and other Commodities."

  With mounting debt U.S. Empire is shrinking and will not be able to protect ocean Oil supply lines any more.

"If we can allocate all costs properly to the account of Oil Supply in the U.S., including the price for military operations and protection of the ocean lines, amount spent in order to protect 100 years old Oil based technology can easily place us all in the Electric Cars in five years time.
  Cost of human tragedies will be always on hands of those who still keeps us addicted to Oil."

Press TV:

New study: US wars to cost $6 trillion

A new study on the long-term costs of the US wars in Afghanistan and Iraq doubles initial estimates, suggesting the revised six-trillion-dollar figure.

The study by Nobel Prize winner for economics Joseph Stiglitz and Harvard University Professor Linda Bilmes details how the cost of the two wars, widely publicized as the 'war against terror,' could end up costing the American tax payers a whopping $6 trillion.

The authors of the study revised their own earlier figures, published in a 2008 book titled "The 3 Trillion Dollar War," criticized at the time by US officials as exaggerated.

The new study cites the growing cases of veterans seeking post-combat medical care for the revised figure, alluding to reports that some 600,000 US veterans of the still on-going wars have sought various treatments for their physical and mental injuries.

Moreover, an estimated half a million other veterans have reportedly applied for disability benefits while treatment costs are said to be 30 percent higher than initial estimates.

"The medical bill alone could end up costing the US more than 1 trillion dollars," said Blimes.

The treatment cost of the growing cases of major mental injuries such as the Post-Traumatic Stress Disorder is expected to drastically climb in time. Such medical bills were initially not taken into account in original cost estimates.

"This may be more of a crisis than the Medicare and Social Security problems we have looming. It rivals both in the potential impact. This is another entitlement we've committed ourselves to, and it could break the bank," said Rep. Bob Filner, Chairman of the Veterans Affairs Committee in the US Congress.

With more US troop deployments yet planned for Afghanistan and no concrete date offered by the Obama administration for a complete withdrawal of forces from Iraq and Afghanistan, the overall cost of the two war for the US could indeed climb very high."
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