Thursday, December 21, 2006
Huge Economic Growth
What country has seen a growth in its gross domestic project of 17 percent last year — and an estimated 13 percent this year? An increase in the number of registered companies of more than 400 percent and in salaries by 100 percent in three years? The answer — Iraq.
Newsweek magazine reports the economy in Iraq is "booming." And Newsweek acknowledges that this is getting little or no media exposure — writing — "there's a vibrancy at the grass roots that is invisible in most international coverage of Iraq." Speaking of Iraq — hundreds of people are lining up for what is becoming the hottest job opening in that country — executioner for Saddam Hussein. The Ledger reports people have sent messages through cabinet officials, government guards and clerical workers begging for the job. An advisor to Prime Minister Nouri al-Maliki says picking a hangman will be very difficult "because so many people want revenge for the loss of their loved ones."
Another issue — where the execution will be held. One idea was to have it in Baghdad's largest sports arena. But most officials say it will probably happen at a specially built gallows at the American prison where Hussein is currently held — Camp Cropper. Hussein's death sentence is currently working its way through the appeals process.
Brit Hume's summary of the Newsweek piece, is, however, notably selective and one sided. To give just one example: while Hume reports a 17% increase in GDP for the year, he fails to note that another estimate cited in the Newsweek piece actually places GDP growth at a far less stunning 4%:
Estimates vary, but one from Global Insight puts GDP growth at 17 percent last year and projects 13 percent for 2006. The World Bank has it lower: at 4 percent this year. But, given all the attention paid to deteriorating security, the startling fact is that Iraq is growing at all.Nor does Hume mention other aspects of the Newsweek peice, such as that much of the economy is built upon the spoils of government corruption, or that the economy would likely collapse without the presence of the country's greatest benefactor: the U.S.
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