{"id":5109,"date":"2012-07-08T09:00:37","date_gmt":"2012-07-08T13:00:37","guid":{"rendered":"http:\/\/www.Centives.net\/S\/?p=5109"},"modified":"2012-07-08T03:22:53","modified_gmt":"2012-07-08T07:22:53","slug":"irans-eroding-economy","status":"publish","type":"post","link":"http:\/\/www.Centives.net\/S\/2012\/irans-eroding-economy\/","title":{"rendered":"Iran\u2019s Eroding Economy"},"content":{"rendered":"<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.Centives.net\/S\/wp-content\/uploads\/2012\/07\/070712_0112_IransErodin1.jpg\" alt=\"\" width=\"640\" height=\"479\" \/><\/p>\n<p>Thomas Erdbrink took a look at Iran&#8217;s rapidly declining economy:<\/p>\n<ul>\n<li>Iran&#8217;s currency last lost 50% of its value compared to other currencies in the past year.<\/li>\n<li>This has caused runaway inflation \u2013 the government estimates it at 25%, while economists say it&#8217;s much higher.<\/li>\n<li>Iranians now live by speculation, not by production. They convert their money into American dollars and watch it rise in value, or use the money to buy land and cars.<\/li>\n<li>Meanwhile the value of people&#8217;s savings erode overnight.<\/li>\n<li>Oil sanctions are a part of the reason for the economy&#8217;s failing state.<\/li>\n<li>However policies pursued by the government have also contributed to the problem. The government used oil revenues to ramp up imports, putting domestic producers out of business.<\/li>\n<li>State subsidies for food and gas have also encouraged over-consumption and hurt the economy.<\/li>\n<\/ul>\n<p>To read more including why factory-owners are now seen as losers in Iran, how those employed by the state have been faring, why Iran&#8217;s economy is like a casino, the role that Ahmadinejad played, what the sophisticated Iranian investors are doing, why shuttering domestic production was bad for Iran, and what Iranians have to say about it, click <a href=\"http:\/\/www.nytimes.com\/2012\/07\/02\/world\/middleeast\/inflation-plagued-iran-prepares-for-worse.html?_r=1&amp;pagewanted=all\">here<\/a>.<\/p>\n<p>Source: <a href=\"http:\/\/www.nytimes.com\/2012\/07\/02\/world\/middleeast\/inflation-plagued-iran-prepares-for-worse.html?_r=1&amp;pagewanted=all\">New York Times<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Thomas Erdbrink took a look at Iran&#8217;s rapidly declining economy: Iran&#8217;s currency last lost 50% of its value compared to other currencies in the past year. This has caused runaway inflation \u2013 the government estimates it at 25%, while economists say it&#8217;s much higher. Iranians now live by speculation, not by production. They convert their [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5108,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5109","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-bulletin"],"jetpack_featured_media_url":"http:\/\/www.Centives.net\/S\/wp-content\/uploads\/2012\/07\/070712_0112_IransErodin1.jpg","_links":{"self":[{"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/5109","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/comments?post=5109"}],"version-history":[{"count":3,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/5109\/revisions"}],"predecessor-version":[{"id":5129,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/5109\/revisions\/5129"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/media\/5108"}],"wp:attachment":[{"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/media?parent=5109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/categories?post=5109"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/tags?post=5109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}