Wednesday, June 15, 2011

What Intervention In Libya Has Caused

A number of U.S. Congressmen, including Democrat Dennis Kucinich and Republican Ron Paul , have sued President Obama because he has violated U.S. law by going to war in Libya for more than 60 days without approval from Congress. The law suit is (or at least should be) a "slam dunk" case, as the War Powers Resolution explicitly forbids actions of war for more than 60 days without Congressional approval and as we are now approaching 90 days of U.S. actions of war in Libya and as there has been no Congressional approval. If this legal strategy despite this fails, then impeachment of Obama for his illegal, unconstitutional policies seems appropriate.

Meanwhile, we now see higher price inflation and contracting economic activity. While it is not the only factor, one important factor behind this is the foolish intervention in Libya, which by prolonging the civil war there for months has raised oil prices, causing price inflation to increase and reducing real economic activity


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