Israeli Strike On Iran Would Pose Risk For US Economy, Obama -- The Hill
A military strike by Israel against Iran’s nuclear facilities has emerged as one of the biggest threats to the U.S. economic recovery and could roil the November elections.
The Obama administration and economic experts have warned a pre-emptive attack by Israel could send the economy into a slump, which would change the trajectory of campaigns for the White House and Congress.
Economic and energy experts say an attack could cause an oil shock, which sent the United States into recession in the late 1970s. In the early '90s, a similar shock occurred when the OPEC oil embargo and the Iraq invasion of Kuwait sent prices soaring.
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Update: High gas prices pose risk to economy, White House -- CBS
My Comment: These fears are justified. An Israeli military strike on Iran's nuclear facilities will result in Iranian retaliation and a shock to the oil markets. $150 to $200 a barrel oil will be enough to put the world's economy into another recession .... a crisis that will be compounded further with the debt crisis in Europe (and in the U.S.) becoming worse .... and critical .... as economic activity declines and needed revenues to cover government debt obligations dry up.