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Iran will waste four more years

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The landslide victory of current president Mahmoud Ahmadinejad and the announcement of same, only hours after the voting polls closed, even though paper ballots had to be hand counted, has cast serious doubts about the election results.

Last week I wrote of Iran's great potential but today much of that potential has evaporated for the time being, and perhaps for another four years. The rulers of Iran have decided that the devil they know is better than the one they don't. Unfortunately, as far as politicians go, they may have gotten exactly that.

Ahmadinejad will not advance the well being of the people and is likely to wreck the Iranian economy further. Unfortunately on that point he may not be alone. Our leaders have done a pretty good job of wrecking the entire world economy.

That said, there are two very noteworthy differences; even the most feeble of national economies is more resilient than the Iranian economy under its present rule; and we regularly "throw the bums out"! We will see improvement while Iran will be stuck in the mud.

Throwing the bums out every so often is good for the system. Now Iran will further ally themselves with the likes of Cuba (which may be on the mend), Venezuela, which is on the decline, and North Korea, which is an economic basket case.

The Iranians have "chosen" to associate with the worst company, so their economy, despite their oil riches, has a high probability of impoverishing more people. It is no wonder that those that did actually vote for Mr. Ahmadinejad are reported to be the least educated of the population.

Forever the optimist, I would like to think that the rulers of Iran will gain some greater insight into the abyss that awaits them if they stay on their present course for four more years. If they do not, it would seem the tension that has been building up in the country will only get worse. For some in Iran change is a bad thing for others it is an imperative.

Sheldon Liber is the CEO of a small private investment company and the principal for design and research at an architecture & planning firm. He writes the columns Chasing Value and Serious Money.

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Last updated: November 22, 2009: 11:12 PM

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