Thursday March 12, 2009

I've Been Thinking:

Yesterday, Ahmadinejad announced that the downturn in the world’s economy was a sign of the fall of capitalism.

The Iranian continued his economic discourse continued by saying that the West has already witnessed the destruction of the godless socialism and will now see the fall of capitalism.
His conclusion is that the only system of government that will remain is Islamic rule.

Where Ahmadinejad is wrong is in thinking that the capital markets that he is assuming will fail because of Allah, are actually destroying his own economy. Iran is suffering miserably because of the economic downturn, most especially because of the drop in the price of oil.

Because Iran has never really invested in the infrastructure that keeps an economy solvent and allows for robust spring backs after economic downturns, Iran will take even longer to recover from their economic suffering than will Western countries.

Ahmadinejad can blame Allah for the capitalism if he so wishes but that might also mean that Allah has turned his back on the Islamic Republic called Iran.

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