Thursday, July 24, 2008

Crisis in Iran's Economy


1. Inflation is running more than 26 percent,
2. food costs are skyrocketing,
3. Housing is unbelievably expensive and most people can't afford to rent an house/apartment. Don't even think about buying,
4. Unemployment rate is something between 35 to 40 percent,
5. Frequent electrical outages in Iran, blackout timetables are getting publish in newspapers,
6. Gas is expensive and usually people buy it from black market, and
7. Manufacturer labour forces mostly haven't get paid for some months so some of them are on strike.

And all of these are happening despite 140 dollars a barrel oil! Sanctions are crimping on Iran's stagnating economy which comes from inept Islamic Iran's regime to manage resources and huge oil export revenue.

For sure sanctions are going to break people, I am not sure about regime in Iran.

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