Saturday, June 21, 2014

World News - Iraq

The newest twist in the tale of Iraq is that the U.S. is now pushing for the current Iraqi Prime Minister (who was installed with a blessing from the U.S.) to resign. Now I don't understand how this will help things in the embattled country. I thought the current government were out friends and allies? To make this tale even stranger, Russia has come out and said they fully support the current government of Iraq. So how does this play out? Russia backs the current governments of Syria and Iran. The U.S. backs anyone who is against them. Iran (and possibly Syria) also back the current Iraqi government (and so does Russia). So are we eventually going to side with the militants who are threatening the current government? I am so confused. What have we done? This is such a mess. This is what happens when you do not have a clear foreign policy and you show weakness and indecision to those who are your enemies. The big question is what will happen with the oil? If production is disrupted in any way, the price of oil will rise substantially. If that happens the world economy will contract and what little recovery (if any) we are enjoying will cease and a recession will start once again. This time we have no reserves of any kind and we have borrowed to the hilt. The world and the U.S. is in no position to endure another recession (and one that will be worse than the last one). This could get ugly and it sure is quite interesting.

What do you think?