From: "Miss Moneypenny" <[EMAIL PROTECTED]>
Subject: [ParanoidTimes] What a Mid-East War Would Mean to the U.S.

What a Mid-East War Would Mean to the U.S.

 

The vast majority of the population in the United States were too young to remember the 6 day (1967 war) and the 1973 Yom Kippur War in the Mid-East. The Yom Kippur war resulted in the Arab oil embargo which devastated the U.S. economy for a decade.

 

Gasoline went from .20 wholesale to over .80 cents. If supplies were available, there was an odd-even day scheme imposed by the government when you could get gas and you were often limited to 10 gallons. Thermostats were mandated to be set at 68 degrees in the winter and 78 in the summer. The speed limit was reduced from 70mph to 55 mph to conserve energy.

 

Twenty-seven years later we stand on the precipice of a new war with the possibility of the use of tactical, land based, and submarine based nuclear weapons in the region. The consequences of such a conflagration are unimaginable.

 

The U.S. has failed miserably in formulating a energy-independent policy. Eventhough our import from the mid-east have stabilized around 30%, we still import more oil than ever, the difference being closed by imports from Venezuela and Nigeria - both countries  that are inherently unstable.

 

Given a best case scenario, a war in the mid-east without the use of nuclear weapons would drive wholesale gas to at least $4.00 per gallon and electricity would triple. This would effectively cripple the U.S. economy since we are so heavily dependent on all types of imports - not just energy, but manufactured goods as well. Inflation could easily rise to 25 to 30% per annum which would devastate the stock and bond markets into which investors are now being herded.

 

If the war should go 'hot' (nuclear) then it would be TEOTWAWKI (The End of the World as We Know It.) Global markets would completely crash and you would see the largest liquidity scramble in history. Japan would in all likelihood pull all of it T-Bills and Bonds out of the U.S. just to meet it oil costs. This would bring the global economy to a standstill.

 

You would see concomitant chaos in the U.S. as the federal deficit would balloon to keep social programs afloat. Unemployment would skyrocket to over 30% with the social problems that high unemployment brings.

 

Cities and counties would have to cut back on services and at the very least, your garbage pick up would be once a week. These are the things we take for granted.

 

There is currently a program on UPN called FREEDOM, in which the U.S. is turned into a police state after a mid-east war. Could this be another case of art imitating life?

 

 

RJ Lewis

Director

Agence Internationale de Presse Libre

The International Free Press

 

Agence Internationale de Presse Libre (AIPL) - North America
International Free Press Agency
10878 Westheimer #293
Houston, Texas 77042

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