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...loss of access to Gulf oil, however, is not likely to occur. At this point Iraq is interested in making money through small price increases, not in sending the industrialized world into an economic crisis. Saddam needs funds to rebuild his economy in the aftermath of the Iran-Iraq War and to strengthen his position as the new superpower of the Arab world. The current price inflation at the gas pump, after all, owes more to the U.N. sanctions and blockade--and to oil company profiteering--than to Iraqi manipulation of the crude oil market...

Author: By Joseph Enis, | Title: The Only Cure for the Iraq Disease | 9/20/1990 | See Source »

That is a prospect so dire that neither side will allow it to occur. For the first time since the talks began four months ago, Democrats and Republicans both seemed more interested in working out a deal than in political posturing. Bush believes the crisis atmosphere arising from the showdown with Saddam Hussein may be the best, and last, chance to stampede the Congress toward a budget agreement...

Author: /time Magazine | Title: The Gulf: Bush's Other Summit | 9/17/1990 | See Source »

Such a failure need not and should not occur. Both Bush and the Democrats still insist that the Middle East confrontation poses a danger to the economy so dire that a national emergency exists. The normal political concerns, including the pressure from special interest groups that so intimidates lawmakers, could be set aside in a spirit of national sacrifice. Last week Bush declared that action on the deficit was needed "now more than ever." But are those stirring words a call to action or mere rhetoric...

Author: /time Magazine | Title: Back to The Other War | 9/10/1990 | See Source »

...security forces soon. If he did so while the threat of black violence remained, he would weaken police morale and send more wary whites into the right-wing camp. But how De Klerk ultimately handles the matter will help determine how peacefully -- or violently -- political change will occur...

Author: /time Magazine | Title: South Africa Policing the Police | 9/10/1990 | See Source »

...downplay the domestic costs of Desert Shield, he will not be able to do so for long. The fear of war alone was enough to push financial markets in the U.S., Europe and Japan into a deep slide, a mere foretaste of the worldwide economic disaster that would occur if an all-out war erupted, involving not just the U.S. and Iraq but Saudi Arabia and other Middle Eastern countries -- perhaps including Israel -- as well. The call-up of U.S. reserves will remove 40,000 men and women from their families and jobs...

Author: /time Magazine | Title: The Gulf: Gathering Storm | 9/3/1990 | See Source »

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