Blood and Money

[Terri]

Silvia Spring
Newsweek

Dec. 25, 2006 - Jan. 1, 2007 issue - It may sound unreal, given the daily images of carnage and chaos. But for a certain plucky breed of businessmen, there's good money to be made in Iraq. Consider Iraqna, the leading mobile-phone company. For sure, its quarterly reports seldom make for dull reading. Despite employees kidnapped, cell-phone towers bombed, storefronts shot up and a huge security budget—up to four guards for each employee—the company posted revenues of $333 million in 2005. This year, it's on track to take in $520 million. The U.S. State Department reports that there are now 7.1 million mobile-phone subscribers in Iraq, up from just 1.4 million two years ago. Says Wael Ziada, an analyst in Cairo who tracks Iraqna: "There will always be pockets of money and wealth, no matter how bad the situation gets."

More (http://www.msnbc.msn.com:80 /id/16241340/site/newsweek/)

[RealDeal]

Very interesting article... I can't comment as economics isn't my forte. But seems encouraging to hear what's going on over there in spite of the situation.

[Donna Son Io]

Consider Iraqna, the leading mobile-phone company.

So if you're scared of mobile phones in the Middle East, do you suffer from Iraqnaphobia?

(Sorry, I couldn't resist!)

[Charie]

Good one, Donna.

What surprises me is that this information ever was reported in one of the big news magazines and then onto MSNBC.

Many former state industries have all but ceased to function.

What is a state industry? In the US the state industries are called bureaucracies and they don't make any money at all. They simply consume. /sarc Would like to have seen more info on this.

Even so, there's a vibrancy at the grass roots that is invisible in most international coverage of Iraq

"The U.S. wanted to create the conditions in which small-scale private enterprise could blossom," says Jan Randolph, head of sovereign risk at Global Insight. "In a sense, they've succeeded."


Perhaps the most pervasive is the horrendous Iraqi traffic jams. Roadside bombs account for fewer backups than the sheer number of secondhand cars that have crowded onto the nation's roads—five times as many in Baghdad as before the war.

A government often accused of being no government at all has somehow managed to take its first steps to liberalize the highly centralized economy of the Saddam era.

Civil war or not, Iraq has an economy, and—mother of all surprises—it's doing remarkably well. Real estate is booming. Construction, retail and wholesale trade sectors are healthy, too

Of course, this is biblical in the MSM that Iraq is in a civil war.

Real-estate prices have risen several hundred percent, suggesting that Iraqis are more optimistic about the future than most Americans are

There's the obligatory gloom sentence of: "there won't be real progress until security can be improved" is there, but the disturbing thing is that how few Americans have ever read or seen on TV anything such as this article. There's been nothing but unrelieved gloom, doom and carnage.

If you don't think the MSM is generally leftwing anti-war, anti-American, just compare this with all other articles you've read.

[rangerrebew]

I wonder which terrorist group owns Iraqna? :confused: What a creative way to finance a jihad, investing in legitmate private enterprise. :eek:

[RamingtonStall]

This is really a "Cover Their Ass" Story specifically released so that they can claim to be Fair and Balanced at some time in the future.

There is always a rash of "Honest" Stories, at least as much as these people are ever capable of being honest, right after critical Elections.

Then when wicked evil conservatives (and even Moderates like me! :rolleyes: ) criticize them for being biased, they simply pull out their statistics to show how many stories like this one they wrote.

RamS

:chdance

[Rubicon]

Stunning, may be the correct term here. It seems, despite the media reports of (or prayers for) impending failure of the sky's above, there is significant economic activity & opportunity. It really does look like Iraqi's are more optimistic than Americans. But then, even amongst the blood & bombs, Iraqi's are not subjected to thousands of exaggerated news stories talking about the death of Iraq which according to them should have happened, three years and eleven months ago.
Interestingly, Newsweek gave a good report, with much interspersed talk of bombs, death, corruption, etc. Then, just to make sure everyone was aware of their leftist bona fides, they ended the report with, "But again, that's the remarkable thing. In a business climate that is inhospitable, to say the least, companies like Iraqna are thriving. The withdrawal of a certain great power could drastically reduce the foreign money flow, and knock the crippled economy flat."
Quoted from an article by Michael Hastings in Baghdad for Newsweek

I just feel that these folks really do not want anyone to actually feel good about anything involving Iraq or President Bush, and will not be the least bit happy about anything until they get the surrender in Iraq they really want & ultimately Bush's humiliation? This story is so convoluted. There's good economic news & happenings, BUT, they point out if America pulls out, the economy will probably fail.
Is there any way at all for a report that does not dwell on the imminent or eventual doom they continually predict or hope for under ANY circumstance?

[Luckyme]

My take on this article is that the economy of Iraq is becoming large enough that it can no longer be ignored. The writer isn't happy about having to write about it, hence, all the negatives inserted among the good news. The dinosaur media just doesn't want "Bush's war" and the Iraqi's to succeed, but they are, at least in some areas, despite all the constant negative reports.

[myownthinker]

After 3 years I would hope the economy over there is starting to take hold. If it isnt something is wrong. This is good news but news I would expect. Now lets finish the deal, secure the country, and get our boys out of that ugly cesspool slog. And lets get it done as soon as possible.

[jeeper97]

I think this is just great, now when they start using these phones to pinpoint the insurgents locale it could be even better!

[Charie]

they simply pull out their statistics to show how many stories like this one they wrote.



I don't think 1 out of 1,000 shows much, though.