Saturday, October 08, 2005
Iranian Stock Market Plunges Over Nuke Controversy
It appears that the Iranian economy, built on burqa production and blowing shit up in other countries, is about to take a fall because the UN is likely - if it ever gets off its antiquated ass - to issue sanctions against the terrorist regime for their building of a nuclear weapon. The country's stock market (a real economic powerhouse) is taking a hit because it knows what is coming.
Traders shun Iran bourse as atomic crisis deepens
Here's wishing that 1) the UN imposes sanctions, and 2) that the Iranian economy falls through the floor, and 3) there is a revolution which overthrows the fucking lunatics running Iran. Then the sanctions regime will have been a greater benefit than usual.
It appears that the Iranian economy, built on burqa production and blowing shit up in other countries, is about to take a fall because the UN is likely - if it ever gets off its antiquated ass - to issue sanctions against the terrorist regime for their building of a nuclear weapon. The country's stock market (a real economic powerhouse) is taking a hit because it knows what is coming.
Traders shun Iran bourse as atomic crisis deepens
TEHRAN, Oct 2 (Reuters) - Investors are bailing out of Iran's stock market, preferring gold and foreign bourses while international pressure ratchets up against Tehran's disputed atomic programme, traders said on Sunday.
The total bourse capitalisation had dropped to $38.2 billion dollars on Sunday, down from $45 billion in late June when conservative Mahmoud Ahmadinejad won a landslide presidential election victory.
The TEPIX all-share index stood at 10,151 points on Sunday, down 27 percent in the 14 months from August 2004, when it stood at 13,880.
"Everything depends on the nuclear negotiations, and the market really craves good news," said Akbar Zarganinejad, the head of a leading brokerage.
Iran stands on the brink of referral to the U.N. Security Council for possible sanctions after failing to convince the world its atomic ambitions are peaceful. Iran insists it needs atomic technology to fuel power stations.
"Unfortunately, the small stockholders' fears can affect the share indices dramatically," Zarganinejad said.
Here's wishing that 1) the UN imposes sanctions, and 2) that the Iranian economy falls through the floor, and 3) there is a revolution which overthrows the fucking lunatics running Iran. Then the sanctions regime will have been a greater benefit than usual.
