“The Warmongers: Not Looking Out For Us” is the current column, now on WND. An excerpt:
To listen to U.S. government officials there is only an upside to the punitive sanctions imposed on Iran by the United States and a reluctant European Union. Consequently, the emphasis is forever on how to toughen the punishment; never on whether to lift economic sanctions on the long-suffering people of Iran.
But what about the effects of trade boycotts on American businesses?
Chris Harmer of The Institute for the Study of War estimates that the Boeing Company alone forfeits a minimum of $25 billion in business every year because of U.S.-imposed sanctions on Iran, a niche market that is filled by the Russians. Overall, Harmer puts the value to U.S. business of trade lost due to the economic embargo on Iran at approximately $50 billion per annum.
For example, Iran imports $1.5 billion worth of cars a year, the beneficiaries of which are companies like Nissan, Toyota and Peugeot (when they might have been General Motors and Chrysler). Peugeot does an added half a billion dollars’ worth of commerce with Iran just in car parts.
The Iranian economy, moreover, has diversified and is adapting to life without the U.S. The rest of the world—pockets in Europe and most of Asia—has not isolated Iran, with the result that the country has many trading partners other than the U.S. And while Iran has lost petroleum revenue due to sanctions, the trend will not endure. China, Japan and South Korea are hungry for the country’s crude.
Not to be overlooked are the costs to Americans of sanction enforcement, avers Harmer. In addition to the opportunity costs—the missed business aforementioned—there are “direct costs.” The Office of Foreign Asset Control in the U.S. Treasury Department squanders around $1 billion a year in developing lists of “financial institutions that are subject to sanctions,” and then infringing on the rights of individuals and companies to freely exchange privately owned property.
“Indirect costs” are incurred in the course of cultivating a massive U.S. intelligent infrastructure—a veritable alphabet soup of agencies—upon which the Treasury draws in enforcing a regimen of sanctions.
So too are the “deterrent costs” borne by the American taxpayer who pays for patrolling the Persian Gulf, the Northern Arabian Sea, and the Strait of Hormuz. …
… As a general rule, state-enforced boycotts harm honest, hard-working Americans who use the economic means to earn their keep. …”
Read the entire column. “The Warmongers: Not Looking Out For Us” is now on WND.
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