Paul Krugman:

To understand what?s really happening in Iraq, follow the oil money, which already knows that the surge has failed.

Synopsis: American business Hunt Oil Company, headed by a man who is a close Bush ally and member of the Foreign Intelligence Advisory Board. He is presumably well-informed on the situation in Iraq. And Hunt Oil has expressly gone against the wishes of our government by entering into an oil deal with the Kurds, rather than with the central Iraqi government. They are essentially betting on the central government failing. And as right-wingers always say, the market is never wrong, right?

The smart money, then, knows that the surge has failed, that the war is lost, and that Iraq is going the way of Yugoslavia. And I suspect that most people in the Bush administration ? maybe even Mr. Bush himself ? know this, too.

Read the rest. It’s really good.

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