"'I am saddened that it is politically inconvenient to acknowledge what everyone knows. The Iraq war is largely about oil,'" said Alan Greenspan, the former Federal Reserve Bank chair. Appointed by President Reagan, Greenspan served as the leading banker from 1987 to 2006.
A Zionist, Greenspan also said, "'Are we fortunate in taking out Saddam? I would say it was essential.'"(2) Greenspan said he saw Saddam Hussein as likely to head for Kuwait's oil again, so it was a question of access to oil. House Representative Lantos chided Greenspan for taking too many years to make his point.
MIM itself did not take such a direct view that the war was all about oil. The united $tates also could have started a land war in Saudi Arabia or Iran, but it did not. Within the politics of oil, there is much conflict and diversity.
As MIM did before him, Greenspan is saying inflation is on the long- term u.$. horizon, because Chinese workers will reach a maximum employment point and then Chinese imports will become more expensive.(3) It has been above all the injection of Chinese labor into the u.$. economy that has allowed a huge increase in parasitic occupations.
Recently, Greenspan spends most of his time denouncing a lack of fiscal discipline in the government. He admitted that Bill Clinton did the most to make the united $tates a "saver" or fiscally disciplined country, despite the fact that Greenspan is a Republican. Like many other disenchanted fiscal conservatives, Greenspan also said Republicans "deserved" to lose elections in 2006 for allowing overly large budget deficits.
The State Department and Gates at the Pentagon rejected the claim that Iraq was about oil at all.(4) However, the Wall Street wing of imperialism is not entirely happy with the Iraq War. Aside from the political fallout, there is a portion of the imperialist class that wants to see a balanced government budget, which is not likely with the Iraq War on. In contrast, a large portion of the public, most especially the labor aristocracy would think the war being about oil a good thing.