This is the kind of economic analysis with a comparison to past wars and past economic outcomes I've been looking for. This is worthwhile reading, but it isn't the holy grail on this subject, as the anonymous blogger provides conjecture on real inflation - reaching a conclusion I would expect, given that we are spending US$ on the war like drunken sailors - but fails to nail the figures in any convincing way. Perhaps, the figures simply cannot be compiled due to government efforts to paint the picture they want. If so, reality will likely show up in the market which may be the reason for recent volitility.

Uses a George H. W. Bush quote out of context (it was about Iran-Contra). Some bias shows, pointing out that a link is to a right-wing site, for example. Not great writing, but the pictures add to it. Plenty of links to sources. References work by John Williams, who I trust. I don't think the French history portion adds much.