The real value of Zizek is he stimulates a discussion in a certain direction that you will never find within the establishment media press,(Michael Moore included here) for they own and control the discourse. Zizek is independent enough (and he knows he's an intellectual supported by the system) where he need not simply fall like sheep into line with the various/nefarious propaganda machines as practiced by The Heritage Fnd.Wm.Kristol,Thom.Freidman, Wm.Safire. They all have easy jobs simply make some nice waverings from Right to Left,Neoliberal is the buzz these days(you needn't be consistent either)summoning the time honored icons of truth,justice,civilization,terror where is it? etc. or in Safire's case simply Right-Wing all the way, no swinging allowed!, there is simply evil out(The "Other" or today "Islam"(those who have oil) (it was communism) there to be extinguished or made docile, so the discourse is further made one-dimensional.
So let's turn to the real world and that's where Zizek begins. Zizek uses Lacan's conception of reality where what is real is never really really "real" because it is "tainted" or "diseased" with the imaginary and the symbolic. So the line of arguments and facts he follows are always placed within this Lacanian context and it makes for interesting reading.
It is fairly commonplace now that Bush and Company always knew that Saddam had no weapons(WMD) otherwise why would Washington send over 150,000 troops ready to be slaughtered by these weapons. (We are talking about, well they, Washington etc. talked about weapons of MASS destruction, what does that mean?) Well weapons that can be sent to New York,intercontinental?It really doesn't matter for the WMD symbolic has been and continues to be grist for the mill of the media and now the Presidential Election.So Zizek is telling us; it is all a distraction from the real issues.And he here clearly sees it's all propaganda, and summons the "borrowed kettle" story from Freud as a means of identifying the "missing" component here.
As the book progresses(For Iraq is only the first part) there is/are some nice dialogues between pure theory, Lacan,Hegel and real facts, here, and Zizek is simply doing the intellectuals job relating philosophy and culture, politics to the reality,or "reality" which is now, or was "now".