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Morning, Knitting.

Here is a bit of a Flopping Aces piece on the Iranian economy which is interesting.

“The current insanity is not accidental. Hitler Jr. is tanking the economy on purpose. The WSJ article above goes into great detail on how it’s all to combat the “Jewish Crusader” conspiracy to keep Muslim nations down. That strategy has ruined their economy. But no matter, his hope is to make Iran look like North Korea:

President Ahmadinejad, however, is determined to impose what looks like a North Korean model on the Iranian economy. He has already dissolved the Syndicate of Iranian Employers (SKI) as a capitalist cabal, and plans to replace it with a government-appointed body. He is also pushing a new Labor Code through the Islamic Majlis (parliament) to replace the existing one written with the help of the International Labor Organization in the 1960s and amended in 1991.

The proposed text abolishes most of the rights won by workers throughout the world as a result of decades of social struggle and political reform. President Ahmadinejad believes that Western-style trade unions and employers’ associations have no place in a proper Islamic society where the state, representing the will of Allah, can keep the “community of the faithful” free of class struggle, a typical affliction of “Infidel” societies.

Mr. Ahmadinejad’s next coup will likely be a major privatization scheme affecting more than 40 public corporations across the country. He has promised to help the employees buy up to 10% of the shares. The rest will go to rich mullahs and Revolutionary Guard officers and their business associates, using low interest loans from state-owned banks. By the time the scheme is ready, however, the Islamic Republic may be facing too deep an economic crisis for anyone—even greedy mullahs and corrupt Revolutionary Guardsmen—to want to invest even a
borrowed rial there.
So, in a nutshell Iran’s ambition is to become the next North Korea in almost every way possible, including nuclear. And what are we doing about it? During the Clinton years laws were passed in an attempt to freeze any investments in Iran. These laws stated that sanctions would be imposed on foreign companies that invest more then 20 million into Iran’s oil sector.

Sen. Dodd recently said during a Senate Banking Committee hearing that “not one foreign energy concern has been sanctioned,” but in other areas we’ve had great success: (h/t Kenneth Timmerman)”

More at the link: http://www.floppingaces.net/2007/05/11/the-iranian-economy-a-revoluti/