Posted on 01/17/2016 7:14:44 AM PST by John W
Stock markets across the Middle East collapsed as the lifting of economic sanctions against Iran threatened to unleash a fresh wave of oil onto global markets that are already drowning in excess supply.
All seven stock markets in Gulf states tumbled as panic gripped traders. Dubai's DFM General Index slumped 4.8pc to 2,682.56, while Saudi Arabia's Tadawul All Share Index collapsed by 7pc to 5,409.35, its lowest level in almost five years.
(Excerpt) Read more at telegraph.co.uk ...
that must have hurt to write.
dont forget the hundreds of billions they will get back to build nukes capable of reaching the US.
nukes are a strange weapon in that they have been used Twice in 70 years.
all other weapons, even chemical, have been used since 1945, but not the nuke.
but weapons are made to be used, and now that this crazy country will have them ever FASTER because of the treaty, the chances are getting stronger and stronger that they will be used.
Iran’s oil has been on the market all along. It has been sold surreptitiously but it hasn’t been just bottled up in Iran.
We live in interesting times. The cost to all of us for that smelly stuff we pour into our automobiles falls like a rock and this is considered bad economic news.
Somehow that seems to me to be a bit bassackwards. But then I’m not Milton Freidman either. Do we really need the Muslims of the Mideast making huge profits to keep the world economy afloat. Ditto Exon and others. Cheap energy should be a huge boost to the worlds economy even if it is only temporary as it may well be.
In other words, I don’t get it.
And China exports are falling. A Trump Dream come true. And the markets give it a thumbs down and $Trillions are lost in a week or two.
What’s going here that I don’t understand?
Its like the Soviets in the 1970’s when Ford and Kissinger gave us the Helsinki Accord on the appeasement side along with containment in the Angolan Civil War where the US backed South African troops fighting the Cuban troops on the Soviet side.
Iran is appeased with the nuke deal while the US helps the Saudi (anti-Iran) side of the Syrian and Yemeni civil wars.
The Republicans with the Corker Bill teamed up with the Democrats in the Senate to enable Obama to make this deal so business could be done with Iran, pure and simple.
Those Rockefeller Republicans wanted to trade with the Soviets in the 1970’s, now they want to trade with the Iranians.
Also thought in 2008 high gas prices were a part of the economic issues of that day.
This will be fun with the US markets closed on Monday.
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