My Comment: Last week I reposted an article about gas reaching $4 per gallon by May. How about $6 per gallon by the end of this year? Ouch indeed! This article will explain why.

And for you and me, the larger question remains: How will this affect the world economies, both in the short and long term, and by extension, the money we are accumulating for college and/or retirement. What steps should we take to protect ourselves?

By Thomas P.M. Barnett | 13 Feb 2012

While the debate over whether Israel will strike Iran ebbs and flows on an almost weekly basis now, a larger collision-course trajectory is undeniably emerging. To put it most succinctly, Iran won’t back down, while Israel won’t back off, and America will back up its two regional allies — Israel and Saudi Arabia — when the shooting finally starts. There are no other credible paths in sight: There will be no diplomatic miracles, and Iran will not be permitted to achieve a genuine nuclear deterrence. But let us also be clear about what this coming war will ultimately target: regime change in Tehran, because that is the only plausible solution.

Read the rest HERE…