British and European investors are having a bad case of the jitters since it has become clear (well not explicit but I think clear nonetheless) that the US, UK & possibly France are going to get themselves involved in another Mid-East conflict. The FTSE100 fell 51 points on Tuesday 27th Aug. & a further 38 points on Wednesday 28th Aug. European markets also took a dip at the same time and the Dow fell 0.9%. All because the politicians just love a war.
The escalating tensions between those countries who want a military strike against the Assad regime and those opposed is being blamed for the stock markets unrest. Traders are concerned about the international free flow of goods and services and how any conflict might interrupt the flow. But spare a thought for the Mid-East markets, the Dubai general index fell 7% on the back of conflict fears.
All those pensions!
And anyone who thinks conflict offers an opportunity, think again. Oil production in Libya has fallen by over 60% since liberation! And the reason, continuing tensions and rivalries in country, strikes and increase security issues. Yup that was a worthwhile conflict. No peace, massively reduced economic activity, a generation lost to education, and the rest of the world will end up propping up a fallen nation.
So the lesson to be learnt surely is avoid the conflict. At least from an economic perspective.
So what might the other effects might be?
Well I suppose a military strike made without firm evidence of who might be responsible for any chemical attack within Syria could just confirm the view held in certain areas of the world that the West are without principal or resolve to do the right thing. They just don’t follow their own rules, yes that’s right the ones they expect everyone else to follow, the very same.
The real worry is the driving force behind this latest rattling of sabers is one David Cameron, UK PM. Yes, leader of the conservatives, that political party who are pro-business? Not only that but he does seem to dragging US President Obama along with him on the ‘need to do something’ train.
And the military strategy; surprise perhaps? No, press release after press release telling the world at large what they are thinking (planning) on doing. The military logic is astonishing. And what might happen, maybe the targets might move away from the targeted areas? I’ll leave you to figure it out.
So do I think that these threats might make Mr. Assad step down from office? No.
I’ve no doubt that the atrocities taking place daily in Syria will horrify most but, the duty to take action to stop such atrocities is qualified by the duty to ensure that any such action does not make matters even worse, that there is a clear strategic goal in mind and that such action is most likely to be in the best interests of those undertaking it. But this proposed strike at Syria meets not one of these conditions for responsible military action.
I wonder, are we to honestly believe that the proposed action is in any way to the benefit of the Syrian people, to the benefit of the Mid-East generally and to the benefit of international trade?
- Bombing Syria would make US pilots ‘Al-Qaeda’s air force’ – Kucinich (rt.com)
- How action over Syria risks unsettling fragile balance of power in the Middle East (independent.co.uk)
- UK PM Backs Down on ‘Urgent’ Syria Strikes Amid Growing Revolt (goldenageofgaia.com)
- UK political wrangling delays key vote on Syria strike (worldnews.nbcnews.com)
- U.S. Preparing for Syria Intervention (intlaffair.wordpress.com)