Economic consequences of a war with Iran

If you thought the wars in Iraq and Afghanistan were expensive, a quagmire in Iran would almost completely destroy the U.S economy. From Chris Hedges of Truthdig:

An attack on Iran, which Israeli and Bush

administration officials appear set to carry out if Iranian uranium

enrichment is not halted, would ignite a regional war in the Middle

East and lead to economic collapse and political upheaval in the United

States.

“In short and simple terms, we would be

plunged into a depression that would make the Great Depression of the

1930s in which I spent my childhood look like boom times,” said William R. Polk,

former professor of history at the University of Chicago and a member

of the Policy Planning Council under President Kennedy. “Industries

would fail, banks would collapse, government revenues would dry up,

universities would have to close, health care, even as limited as it

now is for roughly 75 million Americans, would virtually cease. In

short, something like [what] the South suffered at the end of the Civil

War would plague the country.” Continue reading…

Ben Cohen is the editor and founder of The Daily Banter. He lives in Washington DC where he does podcasts, teaches Martial Arts, and tries to be a good father. He would be extremely disturbed if you took him too seriously.