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Iran's Economy Runs Out Of Steam
by Michael RubinAs markets floundered amid the credit crunch, Iran's leadership celebrated the West's economic crisis. On Oct. 11, Iranian President Mahmoud Ahmadinejad declared, "The claim that the free market manages all things is a huge lie and benefits only thieves and criminals." Two days later, Supreme Leader Ali Khamenei decreed that the West's financial crisis was a sign of "the ineffectiveness of liberal democracy-based policies." The Iranian leadership may rue their words. Ahmadinejad has run Iran's economy into the ground. On Oct. 11, just a day after Ahmadinejad declared prices in decline, the Central Bank reported inflation above 30%. Such figures are still likely low. Both Shahab News and Aftab-e Yazd have noted the tendency of Iranian officials to pull numbers from thin air. Posted by: Steve White 2008-10-18 |
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