“The Mother of All Surprises”
Big, big news according to Newsweek
: …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, according to a report by Global Insight in London. The U.S. Chamber of Commerce reports 34,000 registered companies in Iraq, up from 8,000 three years ago. Sales of secondhand cars, televisions and mobile phones have all risen sharply. 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….
This is amazing stuff. We are going to lead off with this story tonight on Kudlow & Company
. We hope you’ll join us…