Thursday, June 03, 2010

Trash Economics!

Hossaini the Iranian Minister for economnic affairs claimed that economic risk in Iran is " zero" for all investors, effectively, there is no risk. I wish he did really understand the meaning and implications of this, because if he did, he would not have made this rather stupid statement. Because,
- As there is no riskless economies in the world, then, owners of capital from the rest of the world should have been sending their capital to Iran.
- As Iran has a dismal record in attracting foreign capital, as confirmed by UNCTAD, we can safely conclude that the minister is talking trash....