In the lead-up to the 2016 election, the liberal media in America repeatedly warned that, should President-elect Donald Trump be elected, the U.S. economy would immediately crash, the value of the dollar would plummet precipitously and America’s enemies would be greatly strengthened economically and emboldened militarily.
Instead, in the 45 days since Trump’s election, the U.S. stock market has soared and the dollar has strengthened due to increased optimism and greater expectations of a good business economy, while it is America’s enemies and rivals that are struggling to keep up with the economic surge.
Take for example the Islamic Republic of Iran, which expected its own economy to take off following the lifting of economic sanctions as part of the nuclear deal reached with President Barack Obama, but instead has seen its economy remain stagnant while its currency has plunged to record low values, according to Reuters.
Currency traders in Tehran are reporting that the Iranian rial is trading at the astronomical rate of 41,500 per one U.S. dollar, down significantly from the 35,570 rate seen in mid-September before the election. The previous record low for the rial was set in 2012 at 40,000 rials per dollar.
While Iranian economists and the government have come up with a slew of excuses to explain the extreme devaluation — some valid, others not — left largely unsaid is the effect that Trump’s election has had on the Iranian economy.
There are very real fears in Tehran that Trump could rip up or severely curtail the nuclear agreement, perhaps reimposing sanctions in the process.
This concern has likely prompted some international businesses to reconsider investing in Iran, given the potential for future legal issues if the situation changes. The fact that businesses were already more hesitant to invest in Iran than expected also hasn’t helped.
Furthermore, the Associated Press reported that Iran has been manipulating their currency supply and exchange rates in a bid to earn as much as possible from oil sales and other exports, though that plan may have backfired as the expected flood of new investments in the Islamic nation never fully materialized.
Though the media and the Iranian government are loath to admit it, Donald Trump’s election is already paying dividends before he has even been sworn into office.
Between Trump’s plans to boost the American economy and his hard-line stance against America’s enemies and rivals, it is no surprise that the Iranians are witnessing an utter collapse of their economy and currency, as their outlook for the future under Trump is vastly different from what they enjoyed under Obama and expected under a hypothetical Hillary Clinton presidency.
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