How pathetic is this?

From today's Talking Points Memo, with guest blogger John Judis:

But this month, as he was about to leave his post, Bremer told Chandrasekaran that "Iraq has been fundamentally changed for the better" by the occupation. He said that "among his biggest accomplishments ... were the lowering of Iraq's tax rate, the liberalization of foreign-investment laws and the reduction of import duties."

Is this daffy? Set aside for a moment the actual condition of the country. If Iraq's streets were safe and lighted, and its pipelines pumping oil to Western Europe, it would still be better off with the kind of managed economic approach that worked in East Asia rather than the kind of economics that Reagan recommended for post-Carter America. But Bremer's schemes weren't even relevant, let alone appropriate, to the country he was supposed to be administering. What does reducing tax rates do in a country that lacks income and profits and is entirely dependent on foreign aid to run its basic institutions? What good does it do to offer up businesses for sale when no foreign company would dream of investing capital in the current Iraq?

Sounds like a case of 'if all you have is a hammer, every problem looks like a nail' to me.