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The New York Daily News buried this story on page A22 so you have to give USA Today some credit for publishing somewhere other than their obit page.

European and Asian companies are beating their American rivals into Iraq now that security has improved the investment climate, Iraq and U.S. officials say.

“It’s starting to turn … and the people who are getting in on the ground floor are not American,” said Paul Brinkley, the Pentagon official who is leading U.S. efforts to help Iraq rebuild its economy. “It’s ironic.”

Foreign companies, including U.S. investors, have committed to deals worth about $500 million so far this year and Brinkley expects at least $1 billion in foreign investment by the end of the year.

So far, Romanian consortium and a Lebanese company have signed revenue-sharing deals with Iraqi state-owned cement factories. Each group will invest about $150 million.

China has also aggressively pursued the Iraqi market, selling machinery to the government and electronic products to consumers.

Gee, does this mean someone was full of more shit than a Christmas fruitcake in declaring the “war lost” over a year ago?

Does it mean Rep. Pelosi Rep. Felosi was not just incorrect but a blithering idiot when she said the war was “failure” as little as 4 months ago?

Why yes, yes it does!

And what of all those Benchmarks the democraps were all in a tizzy about?

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From the Wit (mostly wit – ed) & Wisdom Files comes this from the senior New York Senator Chuck Schumer and heard during the recent “big oil” dog and pony show on Capital Hill.

claimed “if [Saudi Arabia] did a million barrels of oil a day increase from today, it would go down about — the translation to gasoline would be about $.50 a gallon, maybe $.62.”

As Newsbusters notes it was just a couple weeks ago Schumer claimed a likely similar increase from drilling in ANWR would “reduce the price of oil by a penny.”

Obviously this old war horse of a Senator needs a new abacus. Or a swift kick in the ass on his way out of the Senate chambers. Permanently.

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After viewing the above video ask yourself just how much of a cash outlay did al-Qaeda need to bring down the World Trade Center. (estimated to be somewhere between $400,000 and $500,000 to plan and conduct their attack.)

By making “defense spending” a center point in any argument about Iran’s threat shows his complete lack of tactical, strategic and geo-political understanding of the threat both Iran and al-Qaeda pose.

On the world stage ObamaMessiah is a neophyte, a mere babe-in-the-woods, who needs to be placed back in the Senate where (hopefully) he can do less damage than he could from the Oval Office.

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