Martin Neil Baily, the Brookings Institution | April 23, 2008
Critics of current US foreign policy point to the Iraq war for the current economic slump. ++ New indicators suggest otherwise. ++ A general rise in material and commodity prices running parallel to high oil prices, reflects growth in Asian consumption. ++ The effects of high demand and low supply, coupled with unsound borrowing in the US, dwarf the negative effects that Iraq has had on the economy.