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Iranian rial dropped 6% today. Figure is 28,500 to 1
29-Sep-2012
That is the latest figure from Enduring America, which also reports that the currency has falled 20% in just a week.
OTHER ECONOMIC NEWS FROM EA
--Iran has suffered another serious blow to its efforts to move oil and other exports, as the last big company doing classification work on Iranian ships, key to securing insurance and ports access, has halted the work.
--Jahan-e San'at reports that car sales have been stopped because of a quarrel with the government over prices. The stoppage would affect two million employees.
--Iranian media have reported a 30 to 50 percent drop in car and component production in the past six months (see 0955 GMT).
--About 3000 workers from Qazvin have written an open letter to the Minister of Economy, demanding that their wages be adjusted for inflation. (Fat chance!!!)
FROM NBC: 'Our money is becoming more and more worthless every day.'
EXCERPT:
The financial situation is affecting people from all classes. Thousands of workers have been laid off and have not been paid back wages because companies have simply run out of money. Majid, a 32-year-old mechanic who used to work for a large car company was recently laid off and is owed six months’ salary.
“They are laying off people left, right and center. I doubt there will be a company left by the New Year,” he said, giving just his first name because of the sensitivity of the issue in Iran. Persian New Year will be on March 21, 2013.
The car industry, one of the biggest manufacturing sectors in Iran and a massive employer, has been affected dramatically; Iranian media have reported a 30 to 50 percent drop in car and component production in the past six months. Iran was the 13th-largest auto maker in the world in 2011, producing 1.6 million vehicles....
The oil sector has been hit hard too. The Iranian Labor News Agency reported that a letter on behalf of 20,000 oil workers from across the country was sent to Labor Minister Abdolreza Sheikholeslami complaining that they had not been paid in months. The letter demanded an increase to the worker’s salaries of $120 to $285 a month, adding that at the current rate they were "way below the poverty line.”
Mohammad Reza Bahonar, a prominent Iranian member of parliament, said oil exports in June-July had dropped to "around 800,000 barrels per day," according to a report by ISNA news agency. That’s a low not seen in more than two decades, and less than half the 2.3 million barrels per day exported just a year ago....
Mehdi is a young entrepreneur who imports computers and accessories who also spoke on the condition of anonymity. He said people are just not buying in Iran right now. His biggest wish was that the value of the rial would just stay fixed against dollar – even if it was at an unfavorable rate – just so consumers would know how much things would cost in a weeks’ time, a day or even in the next few hours....
Britain, France and Germany are urging their European Union partners "to further step up the pressure" on Iran. Further sanctions targeting the Islamic Republic's energy, finance, trade and transportation sectors are expected to be formally adopted on Oct. 15.
OBSERVATIONS:
The policy of buying cheap imports from China in order to keep prices down is surely intended to pacify the population since prices might be even higher otherwise. The catch is that those cheap imports are driving Iranian manufacturers and agriculture out of businesss. The only way to prevent that would be to stop the cheap imports. But with so much production already destroyed the effect would be to add to inflationary forces and increase the pressure on the rial.
QUESTIONS READERS SHOULD PONDER
1. How many Iranian workers wish they could turn back the clock and joined students and the middle class in protesting the rigged election of 2009 when the regime was on the verge of toppling?
(Had they done so economic conditions would be vastly better today as they have come to realize far too late).
2. Of those who did vote for Ahmadinejad, how many bitterly resent it now?
3. Can the Iranian regime afford war with Israel on top of all this?
(War would accelerate both inflation and consumer goods shortages while decreasing oil sales further).
4. Soldiers come from the people. Are current conditions rapidly eroding support for the regime among rank and file troops?
(If so, time works against the regime, eroding support as the rial continues to fall and the econom continues to worsen).
5. When Khamenei dies, will most Iranians cheer his death?
6. After the regime falls, should Khamenei's grave be designated as a public toilet?
| Recently by FG | Comments | Date |
|---|---|---|
| MORSI’S “KHOUMEINI ACT” MAY SAVE SYRIANS FROM AN IRAN-STYLE FATE | 1 | Dec 02, 2012 |
| Dec. 1st roundup: Turkey-IRI tensions grow/ Assad's troubles mount | 4 | Dec 01, 2012 |
| EA analyst: REGIME'S FALL COULD BE IMMINENT!" | 5 | Nov 29, 2012 |
RECENT COMMENTS
IRANIANS OF THE DAY
| Person | About | Day |
|---|---|---|
| نسرین ستوده: زندانی روز | Dec 04 | |
| Saeed Malekpour: Prisoner of the day | Lawyer says death sentence suspended | Dec 03 |
| Majid Tavakoli: Prisoner of the day | Iterview with mother | Dec 02 |
| احسان نراقی: جامعه شناس و نویسنده ۱۳۰۵-۱۳۹۱ | Dec 02 | |
| Nasrin Sotoudeh: Prisoner of the day | 46 days on hunger strike | Dec 01 |
| Nasrin Sotoudeh: Graffiti | In Barcelona | Nov 30 |
| گوهر عشقی: مادر ستار بهشتی | Nov 30 | |
| Abdollah Momeni: Prisoner of the day | Activist denied leave and family visits for 1.5 years | Nov 30 |
| محمد کلالی: یکی از حمله کنندگان به سفارت ایران در برلین | Nov 29 | |
| Habibollah Golparipour: Prisoner of the day | Kurdish Activist on Death Row | Nov 28 |
Surah al-Dollar
by Fesenjoon2 on Mon Oct 01, 2012 01:09 AM PDTالدلار (۱) و الدلار (۲) و ما ادرئک الدلار (۳) التی تا نیم ساعت پیش بود سه هزار (۴) و هذا من فضل المحمود الحمار (۵) رجل ز دیار گرمسار (۶) الذی جعل کل آمار (۷) و پیشتاز فی کل امور عین چاپار (۸) نمونه اش همین نرخ ساعتی دلار (۹) انا ارسلنا المحمود لخنده الحضار (۱۰) یا ایهاالذین آمنوا با این اوضاع عمرا اگر بتونید بخورید و بیاشامید (۱۱) زياد هم حرف بزني سرت ميره بالاي دار (۱۲)
That's old news
by azadi5 on Sun Sep 30, 2012 07:51 AM PDTToday it's at 3000 toman.
Answers To Author
by amirparvizforsecularmonarchy on Sat Sep 29, 2012 07:03 PM PDTQUESTIONS READERS SHOULD PONDER
1. How many Iranian workers wish they could turn back the clock and
joined students and the middle class in protesting the rigged election
of 2009 when the regime was on the verge of toppling?
MOST WORKERS WERE OPPOSING IRI IN 2009 AND DO OPPOSE IRI NOW
(Had they done so economic conditions would be vastly better today as they have come to realize far too late).
2. Of those who did vote for Ahmadinejad, how many bitterly resent it now?
NONE, AN GOT SO FEW VOTES IN REALITY LESS THAN THE PEOPLE IN THE REGIME, IF YOU VOTED FOR HIM THEN, YOU WON'T HAVE GAINED MORE BRAIN CELLS SINE THEN.
3. Can the Iranian regime afford war with Israel on top of all this?
(War would accelerate both inflation and consumer goods shortages while decreasing oil sales further).
THERE WILL BE NO WAR, USA WILL NEVER ALLOW ITS CREATION TO BE THREATENED
4. Soldiers come from the people. Are current conditions rapidly eroding support for the regime among rank and file troops? YES REGIME SUPPORT IS LOW, BUT THAT IS NOT WHAT KEEPS THE IRI IN POWER, SO IT MAKES LITTLE DIFFERENCE TO THE REGIME OF THEFT, DEATH AND MURDER.
(If so, time works against the regime, eroding support as the rial continues to fall and the econom continues to worsen).
5. When Khamenei dies, will most Iranians cheer his death? YES, JUST LIKE WHEN KHOMEINI DIED AND EVERYONE WENT TO EACH OTHERS HOMES AND POPPED OPEN A CHAMPAIGN AND CELEBRATED GOOD RIDDENCE TO EVIL AND BAD PEOPLE.
6. After the regime falls, should Khamenei's grave be designated as a public toilet?
KHOMEINI'S SHRINE ALREADY IS A PUBLIC TOILET, IT IS GOING TO BE IMPOSSIBLE FOR THE REGIME TO OUT LAW PEOPLES NATURAL COMPULSIONS, LIKE FEELING THE URGE TO GO AT THE THOUGHT OF KHOMEINI/KHAMENEI/SHARIATI/MOUSAVI/RAFSANJANI/KHATAMI, PUBLIC TOILETS ARE ONE AREA IRAN WILL DEFINETLY BEAT CHINA IN FOR THE FUTURE, THIS IS AN ACCOMPLISHMENT OF THE REGIME AND CAN NOT BE MADE FUN OF AS IT IS ONE OF THE FEW ACCOMPLIHMENTS LEFT.
As the late shah said : NO
by maziar 58 on Sat Sep 29, 2012 06:25 PM PDTAs the late shah said : NO MORE OF YOU BLUE EYES TELLING US WHAT TO DO !
Maziar
Sanctions, which sanctions?
by alimostofi on Sat Sep 29, 2012 04:49 PM PDTMost of the economic activity of Iran is actually outside the control of the government. To that effect no one really knows what the state of Iran's economy is. Almost half of the trade in Iran is done in what is regarded as "Black Market".
The government may try to control the various smuggling routes, but it has failed. So in many respects the government is not actually functioning, and it is suffering from international sanctions.
Ironically, international sanctions are not effecting the people, as they are able to get what they want from the smuggling trade, and have bypassed worse sanctions placed on them by the regime for a long time.
The smugglers are keeping Iran alive against the wretched mullahs.
@alimostofi
FB: astrologer.alimostofi
More interesting items on Iran
by FG on Sat Sep 29, 2012 12:37 PM PDT//www.pbs.org/wgbh/pages/frontline/tehranbureau/2012/09/lifestyle-drinking-coffee-in-tehran.html
EXCERPT: The closing of coffee shops demonstrates the government's fear of the burgeoning counterculture they facilitate. As part of an officially sanctioned effort to reappropriate the coffeehouse from its identity as a hive of illicit and morally reprehensible activities, a café was opened in Tehran that for the first time sets aside one day a week exclusively for women. Countering the "Westernized culture" of the standard café, a strict Islamic dress code is enforced at Keraseh. During most of the week, both sexes are permitted, but women are expected to sit on the right side of the establishment at an "appropriate" distance from any male customers. This is yet another example of the ongoing effort to homogenize public space under the highly gendered laws and norms of the Islamic Republic, which manifested soon after the Revolution with the violent enforcement of compulsory hejab.
ITEM: Iran to give permission for spouse-finding websites
Iranian authorities, fearful of falling marriage rate, are taking the unusual step in order to promote matrimony
//www.guardian.co.uk/world/iran-blog/2012/sep/19/iran-spouse-finding-websites
OBSERVATION:
Unable to afford marriage and especially parenthood and living under a system which offers no hope of a better, more free and prosperous life, people are making rational decisions. Collectively such decision also constitute the most private form of protest and a massive "no confidence" vote for the regime.
Meanwhile the government has introduced laws designed to make birth control harder to get but where people hold views like the above, they'll find a way to avoid doing the regime's will.
FRom a subpost at EA:
80% of workers are living below the poverty line while the number of imported luxury cars for mullahs and IRGC commanders went up in the past months.