What Will Happen Financially If War With Iran Starts ?
The United States is already fighting wars in two countries, namely Iran and Afghanistan. However, the government is also at loggerheads with Iran. And, there is always the fear that war will start with Iran too. However, if war starts with Iran, one has to consider the financial repercussions. This war will financially affect the entire world and not just the United States. |
David Broder, a popular political columnist, believes that Barack Obama, the United States President can get the country out of its economic disaster. He believes that there are two main ways to get out from a depression and a recession. One is to govern the business cycle which influences the market and the other is to prepare for a war. He also remarked that Obama cannot revive the business cycle, so the best way out is to wage a war against Iran. The president of America does not look forward for a war but then thinks that a footage would do them great deal of help. However America’s fascination for war is less understood than spoken off.
People do not understand that several American soldiers die and so have they in Afghanistan. Expansion of any economy cannot happen based on a war. It will actually put America’s finances into further jeopardy if a war has to take place with Iran. War can actually cause inflation and bring back the United States into a recession like status. The recent inflation, real estate crash and job slump are living testimonies to speak about the status of the US which came close to the Great Depression era. War causes a depression era and nothing beyond or further.
A war with Iran would mean a disaster for the economy in the US, especially considering the current economic scenario in the country and the world. One after effect is that the oil prices will go up immediately. Petroleum is the lifeline of America since it is used in transport of goods and making fertilizers or plastic. The involvement of Petroleum is in every imaginable way. The amount spent on acquiring crude oil and the amount spent on refined petrol is arguably higher every year.
Iran’s growing power in the Middle East is worrisome for the US. Also, Iran cannot close down oil possession for the US completely in the Middle East. Iranians cannot shut down the Straits of Hormuz through which oil is mainly exported. So, immediately there is no perceivable threat seen for the United States.
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Juan Cole: On How War with Iran might Destroy the United States
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International relationships between countries are intricate and delicate. Amitai Etzioni, a professor in the George Washington University, in Washington D.C., believes that Iran’s atomic development only aims at bombing the non-nuclear facilities. President Obama has put in repeated efforts in maintaining a dialogue with Iran but US has failed. If the same phase continues, there is a danger that the US might lose its dominance over Tehran and the Middle East. 