Home
>
Wealth Building
>
Business After The Iraqi War

Business After The Iraqi War

The rewarding of high compensation packages to top executives who turned over weak quarterly earnings, or who were involved in corporate scandals, adversely affected short-term investing, and collectively contributed to the downturn of the global economy over the last couple of years. Even the help and expertise of Federal Reserve Chairman Alan Greenspan and several notable Nobel Prize winning economists in the President's Council of Economic Advisers, wasn't enough to revive the economy. September 11 then turned our attention towards terrorist threats against the markets.

Many, including the Bush administration, believed that a short war was the answer to both of these enormous problems. That is, if done quickly, a war would induce an increase in government spending that will be injected into the economy and a multiplier effect will, in turn, create jobs for the unemployed. But now that it's over and coalition forces have taken control of Iraq, should we expect to return to business as usual? Unfortunately, this is easier said than done.

The facts are that the underlying and axiomatic problems are still present in the global economy. First and foremost, we have America's account deficit, which is increasing by the second. The cost of the war is certainly adding to this burden and is currently hovering at approximately $20 billion dollars. Some experts say that this cost could reach up to $95 billion dollars. We, inevitably, will have to pick up the majority of this bill.

The United States' Gross Domestic Product (GDP) is also not in good shape. It has trickled down to an annual GDP growth that is expected to reach only 3.1% and both France and Germany have recently downgraded their annual GDP growth forecasts to 2.4% and 2.0% respectively. Moreover, the "uncertainty factor" as I like to call it, most likely will keep businesses and consumers cutting back on expenditures for the remainder of 2003.

Fortunately, there are some signs that the economy is beginning to recover. A report that was recently released by the U.S. Department of Commerce showed a rise of over 2% in retail sales for the month of March and a slight rebound in consumer confidence. Also, the national unemployment rate, which was released by the Bureau of Labor Statistics, remained unchanged at 5.8% for March 2003. While the majority consensus is that the economy will eventually recover, it is apparent that this will definitely take more time and effort than what most people had originally predicted.

Carlos T. Fernandez is the business columnist for Dominican Times Magazine, a publication that focuses on the hispanic culture and the issues affecting its communities. He is also the publisher of a popular financial planning and management website entitled Building Wealth (http://buildingwealth.blogspot.com).

recurring maid service Buffalo Grove ..

In The News:

The iconic Mary Kay pink Cadillac goes electric with the Cadillac Optiq, available only to the company's top 1% of sales force performers.

Cybercriminals abuse trusted Intel driver to gain kernel access and shut down Windows Defender, enabling undetected malware deployment since July 2025.

Using email aliases for online shopping and subscriptions can protect your privacy by preventing companies from linking your activity across websites.

New research shows AI overlap does not equal job replacement, with knowledge-based roles seeing most integration while physical jobs remain least affected.

Scammers target seniors who avoid social media by exploiting public records like obituaries and real estate filings to steal personal information and money

Recovery team in Italy use AI-enabled drones to detect missing hiker's red helmet, leading to successful recovery after months of ground searches

Google Salesforce system breach exposes business data while scammers use incident to target users with fake security calls and phishing attempts.

Google announces Pixel 10 lineup with Tensor G5 chip and Gemini Nano AI, introducing Magic Cue, Pro Res Zoom up to 100x and satellite emergency support features.

C San Diego study reveals 86% of school safety companies monitor students 24/7 on personal devices, raising privacy concerns.

Users can now add their favorite outlets' coverage to the Top Stories section of Google search results by utilizing the 'preferred sources' feature. With just a few clicks, you can add Fox News.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Interstellar object 3I/ATLAS shows an unexpected frontal glow that Harvard's Avi Loeb says cannot be explained by sunlight reflection or standard cometary outgassing.

Receiving order confirmations for purchases you never made could mean your email address is being exploited in fraud operations targeting multiple retailers.

First wireless brain implant works with Apple's official protocol, enabling hands-free control of iPhones, iPads and Vision Pro through thought alone.

Data brokers sell personal details that scammers use to target retirement funds through fake financial advisor calls and convincing phishing attempts

Ten innovative tech solutions from gait sensors to smart pill dispensers help adults 65+ track fall risks and prevent injuries before they happen.

Meta AI internal documents revealed chatbots were allowed to flirt with children and engage in romantic conversations until the company was exposed by Reuters.

ChatGPT will avoid giving direct mental health advice under new OpenAI rules following instances where the AI model provided harmful or misleading responses.

Your phone tracks you in more ways than that little GPS icon suggests. Here’s how to find and clear hidden location logs on iPhone and Android.

Authorities in France and the Netherlands have been notified. Meanwhile, impacted customers are being told to stay alert.

Apple just rolled out a redesigned Blood Oxygen feature to specific models, following a recent victory in a legal dispute.

Kidney dialysis provider DaVita experienced a ransomware breach by the Interlock gang affecting 916,000 people in the second-largest U.S. healthcare attack of 2025.

A Chinese-made Unitree R1 robot walked Manhattan streets and shopped for shoes as part of KraneShares' $28 million AI robotics fund promotion campaign.

The ShinyHunters cybercriminal group breached Google's Salesforce system through vishing attacks, stealing business contact details and customer data.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Business After The Iraqi War

Wealth Building