Insana: Iran's a Time Bomb

This post appeared yesterday on RealMoney. Ron Insana writes the popular "Market Movers" newsletter and posts a daily column on RealMoney. Click here for a free trial, and enjoy incisive commentary all day, every day.

After writing about the growing threat emanating from Iran for weeks, it is shocking to me that the markets remain unusually complacent about the imminent deadline that Tehran faces for halting its nuclear enrichment program.

U.S. Says Iran Could Expedite Nuclear Bomb
By David E. Sanger
This article was reported by William J. Broad, Mark Mazzetti and David E. Sanger and written by Mr. Sanger.

WASHINGTON -- American intelligence agencies have concluded in recent months that Iran has created enough nuclear fuel to make a rapid, if risky, sprint for a nuclear weapon. But new intelligence reports delivered to the White House say that the country has deliberately stopped short of the critical last steps to make a bomb.

The New York Times put out this report late Wednesday night, but upon reading the entirety of the article, it looks like press action has been planted by various interests from Washington to Tel Aviv to raise the pressure on Iran, not actually recognize or confront the problem as described.

A PR offensive will not deter Iranian President Mahmoud Ahmadinejad from continuing work on a bomb, which is why some intelligence experts believe only a real offensive will do the trick.