Sunday, October 30, 2005

Iranian Econonics

Iran's President Ahmadinejad has an interesting solution to the "rapidly deteriorating situation at the Tehran Stock Exchange:"
Frustrated with the inability of his economic advisers and experts to come up with any solution, Ahmadinejad told them that the only way out of the current stock exchange and financial market problems was to “frighten” speculators by hanging two or three of them.
I had to laugh when I read this article. I guess Ahmadinejad thinks taking risk is bad, but if he starts killing people for taking risk (i.e., taking speculative positions in the stock market), investment will dry up fast. Sounds like a sure-fire recipe for a market-crash to me. If I were a floor-trader at the Tehran Stock Exchange, I'd resign. Fast.

People might not revolt when their rights and freedoms are restricted, but they will revolt when they cannot feed their families due to self inflicted economic collapse.


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