Thursday, January 18, 2007


Thats the only way I can describe the Bush Administration's apparent plans to attack Iran sometime between now and April. Now may be the time to go out and travel, spend your life savings, buy some friends gifts, and while you're at it convert every dime you have into Euros. In the unfortunate event that the this threat is carried out, the standard of living we are all accustomed to will be changed immediately and drastically. Your money may be worth much less than it is today. Joseph Palermo over at brings up a very real and scary economic possibility:

"China might become so angered by the American actions that it cashes in some of its $1 trillion in U.S. treasury bonds and exchanges them for Euros. The dollar would then be suddenly devalued. The life savings of millions of Americans could be threatened as the dollar tanks, and interest rates will shoot up when the central banks try to entice foreigners' to hang on to their dollars to stop the hemorrhaging. And this devaluing of the dollar will occur in an environment of hyperinflation because the high price of oil will drive up the costs of everything"

President Bush has a long record of failure as a businessman, and we all know the catastrophic results of his middle east policy to date, but the final act in this tragic play could be the one that lays waste to the way of life we have grown to expect in America. This may seem like a grim prediction unless you critically weigh the possible outcomes and the likelihood of a worst case scenario. Certainly the Iranian leadership will recognize that the ultimate goal is to unseat them from power. This means that they have no choice but to use all means necessary to retaliate. Make no mistake that Iran does have the ability to defend themselves against the US with the latest technology. Check out the latest Russian missiles they have been buying. Astronomical oil prices would cause worldwide anger towards the US. We may actually see official or unofficial sanctions against the United States for the first time. The retaliation against our sitting duck military personnel in Iraq and other US interests in the Middle East would be so widespread and deadly that it would take a draft to increase the size of the military sufficiently to protect our interests. However, the public reaction would be so negative that a draft would be politically impossible. What an inconceivable mess, Iran inflicting military damage to US interests, the American people enraged over the numbers of US troops being killed, Iraq turned into a boiling cauldron of death for any and everything American, worldwide condemnation including possible sanctions and boycotts of US goods, and economic catastrophe due to sky high oil prices.

I hate to keep beating the drum on this Iran issue, but the results will be so dramatic that I would be remiss in not pointing this out. Call your congressman, local call in radio show, write an op-ed article, or anything else you can do to stop this aggression. If it goes down, we will all go down with it. An evil wind this way blows!

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