Daily Alert Archives

As Economy Stumbles in Iran, Tension Grows between Rich and Poor

(Christian Science Monitor) Scott Peterson - Decades ago, money in Iran was a well-hidden secret, rarely flaunted, in keeping with the socialist ideals of Iran's 1979 Islamic revolution. But today, Ferrari, Porsche, and Lamborghini sports cars navigate through Tehran's traffic. Rich Iranian youth post photos online of themselves at parties and poolside, in their cars and mansions, and spending money at shimmering luxury malls. Even well-heeled Iranians grouse about how sanctions and economic volatility are raising prices. Yet Botox treatment centers are still packed with clients, for example - even as most ordinary Iranians brace for new medical shortages. As prices have soared, hundreds of economic protests have swept across the country this year. And in their midst, resentment has grown at the wide gap between Iran's very rich who flaunt their wealth and the majority of Iranians, whose struggle to get by has become more daunting by the day. Many of the very rich are part of the regime or are offspring of the well-connected.
2018-10-12 00:00:00
Full Article