I Hear America Sinking

Behind the memorial candles and commercial remembrances lies one of the most astute marketing campaigns in American political history. This week, as the nation marks the first anniversary of the 9-11 attacks, the Bush administration will twist voters' outpouring of raw emotion and patriotic fervor into a launching pad for the inevitable invasion of Iraq.
In a September 12 speech to the United Nations, President Bush will further showcase his arguments for knocking off Saddam Hussein. Behind the scenes, his advisers have been torquing the arms of European leaders, who rightly have withheld approval. The White House is making a very bold gamble, one that has most of the world scared to death.

Last week the U.S. stepped up its air attacks, sending 100 warplanes to bomb Iraq, which has been under intermittent siege since the end of Desert Storm in 1991. The Pentagon has continued to move ships, planes, and troops into the region. As for any congressional debate, it's as much for display as the deliberations of the UN, orchestrated to end in a non-binding resolution backing Bush.

Bush can hope war will benefit the economy. But it could also hurt. News early this week that Saudi Arabia would deny U.S. companies access to its prized natural gas fields is only the first sign of what could well turn into an economic energy boycott against the U.S., driving up prices and torpedoing our markets.