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Sinking Feeling

Maybe The Iraqis Can Buy Northern Rock

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The soaring price of oil will leave the Iraqi government with a cumulative budget surplus of as much as $79 billion by year’s end an American federal oversight agency has concluded in an analysis released on Tuesday. The unspent windfall, which covers surpluses from oil sales from 2005 through 2008, appears likely to put an uncomfortable new focus on the approximately $48 billion in American taxpayer money devoted to rebuilding Iraq since the American-led invasion.

Over all, the report from the Government Accountability Office estimates, Iraqi oil revenue from 2005 through the end of this year will amount to at least $156 billion. And in an odd financial twist, large amounts of the surplus money is sitting in an American bank in New York — nearly $10 billion at the end of 2007, with more expected this year, when the accountability office estimates a skyrocketing surplus.

http://www.nytimes.com/2008/08/06/world/mi...amp;oref=slogin

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I do not begrudge them this opportunity to spend their way out of their awful difficulties. The Northern Ireland problems were mainly alleviated by plenty of public spending and they have the best public housing in europe. Maybe the North of England should beastly to everyone else in order to get a fair slice of the national cake.

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  • 399 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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