Search
 

Iran Is The Real Issue For The US Economy

The Iranian situation is the real threat to the US economic recovery

By Joel Ross | Updated on February 25, 2012

While you were all watching Greece and the European banks, Iran was ramping up as the real issue which will most affect the world, and US economy. Now we are beginning to see the real impact in the form of higher oil prices. That is just the start. The Iranians have made it very clear they have no intention to reduce their nuclear ambitions, and they know if they get a nuclear weapon, then the entire global balance changes. Israel knows that far better than Obama and is not going to wait for Obama to realize the world, and especially Israel is faced with an existential threat that is not going to be mitigated by talking and an “open hand” policy. We are now counting down in months, not years to when something major has to happen.

Oil prices are unlikely to come back down for quite awhile. The rebuff of the IAEA has confirmed Iran has no intention to cooperate, and every intention to race ahead before the US is ready to see reality. With oil going up and up, the economic recovery is in jeopardy, and industrial strength is more and more in question.  Higher gas prices will harm the hospitality industry and it will mean higher transport costs for food and other products. That crimps consumer spending on things other than food and gasoline and that reduces hiring.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.