US wants SWIFT war on Iran by Pepe Escobar
Iran supplies 500,000 barrels of oil a day to the EU. The mere threat of an Iranian embargo has already provoked an oil price spike.
And anyone who's ever done business with an oil company knows those spikes in the price of oil will soon be seen at gas pumps. In our global markets, it doesn't matter if the embargo is aimed at Europe, or even if the embargo is real or fictional. But you can count on increases in the price of oil being passed along to the consumers at the gas pump.
Add this to demand crashing in Europe because of Obama's banker backers demanding their pound of flesh in "austerity measures", and US policies that put those "austerity measures" (known as "deficit reduction" in America) into place here, also pushing down the already weak demand of the world economy, and the future does not look very bright. Under these policies, if you see our economic future wearing shades, its to cover up its black eye.