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Interrupting Iran's Oil: The Price The West Can Now Afford
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Report
Interrupting Iran's Oil: The Price The West Can Now Afford
2012
Overview
The severe inflation Iran is now experiencing is the result of the government's attempt to make up for this lost revenue by just printing more money. Since printing money creates inflation -- because more money is chasing the same goods -- everything the government has to pay for is also made more expensive as a result, which means that they have to print more and more money each month just to keep up. Thailand and Indonesia in 1997, or the Russian ruble in 1998, are examples of what milder shocks can do to the economies of countries with much less serious current-account imbalances. Since the Iranian government shows no sign, from its response so far, of appreciating the seriousness of the economic situation -- and appears to be actively doing whatever it can to make things worse -- the current regime's survival is suddenly in doubt.
Publisher
Federal Information & News Dispatch, LLC
Subject
