On Feb 9, 2008, at 12:29 PM, Peter Todd wrote:

> in the more recent Iraq war the economy lost tremendous amounts of  
> value

Did it?  djia 2000 (peak, pre-bubble-pop): 11600  djia now: 12182

I'm not saying that wars are good things, but if you're going to make  
blanket statements like "statistics over the period of the cold war  
reveal an economic black hole", you've got to be a lot more careful  
than people have been so far to define exactly what they mean.

I recall a quote from somewhere that said something like "capitalism  
has two stable states: warfare and welfare."  (an equally provocative  
statement...)

BillW


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