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Topic: Iran on the Verge of Hyperinflation |
Iran on the Verge of Hyperinflation
Daily Beast, by Megan McArdle
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Original Article
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Posted By:ketchuplover, 10/5/2012 2:20:31 AM
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| In fact, on the verge might not be the right way to put it; in the middle of might be more accurate. Steve Hanke estimates that inflation is running at 70% a month. This is, as Alex Tabarrok points out, nowhere near a record. Still, it's a Big Deal. Hyperinflation has brought down governments--Iran is experiencing protests over the collapsing rial. And it's not hard to see why. At the current rate of inflation the value of a savings account (or a mattress stash) is now barely 40% of what it was one month
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Comments:
Maybe our best weapon against Iran would be to send them Obama's economic team.
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Reply 1 - Posted by:
Trigger2, 10/5/2012 4:46:52 AM (No. 8911092)
Send them Bernake too.
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Reply 2 - Posted by:
afherkdriver, 10/5/2012 4:51:12 AM (No. 8911098)
Germany in the 1930's. This is very dangerous for the world. I really wish the US had adult leadership instead of a fraud. But wait, Hillary will be on top of it.
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Reply 3 - Posted by:
coldoc, 10/5/2012 4:55:57 AM (No. 8911101)
Looks like the Bernanke effect is well underway.
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Reply 4 - Posted by:
Constitutional, 10/5/2012 5:47:35 AM (No. 8911133)
My question is, what makes anyone think that even IF the civilian population rises up in revolt that it will result in an outcome that is positive for the USA?
The Iranian regime can now point to prolonged western sanctions as the culprit as to why people are suffering, and they will do so, whether it's true or not. Does anyone really think a pro-USA, pro-democracy regime change is going to rise up any time soon from a starving populace of islamic people who believe the west has not only abandoned them previously, but now is largely responsible for their current hardship?
The current regime is very likely to hold on to power, even if there is civil war. They have all the weapons and all the money. It does not seem that parts of the military will break away as in Syria or elsewhere.
And really, our biggest concern is the nuclear program -- which the average Iranian is not against and doesn't want to bow to western pressures on any more than the mullahs do. It will continue until it is destroyed. Their economic issues don't change that any.
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Reply 5 - Posted by:
stablemoney, 10/5/2012 11:55:54 AM (No. 8912004)
Unfortunately we do not have a media that covers what actually happens anywhere. And the CIA -- they don't know, but will opine. But there questions: Are the Iranians getting a little tired of mullahs after 33 years?
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Reply 6 - Posted by:
Japanorama, 10/5/2012 2:18:05 PM (No. 8912394)
I've got my Schadenfreude snacks and a six pack of happy juice ready to go.
Hyperinflate away, Iran!
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