Joschka Fischer, former German Foreign Minister, is writing that he expects an Israeli military strike on Iran.

It was linked to on Nouriel Roubini’s blog, and he goes into the potential economic/political implications:

• Oil Spiking to well over $200/bbl.
• Iran setting their dogs loose in Iraq.
• Hesbollah going postal in Lebanon.
• Hamas going postal in Gaza.
• Difficulties in transiting the Persian Gulf, which might further increase oil prices.

While I agree that these consequences are likely, I disagree with Roubini on one point though, thinks that such an attack would guarantee a McCain victory, because he believes that, “Such October surprise by Israel would also certainly lead to the election of McCain and defeat of Obama as a national security crisis of such an extent would doom the chances of Democrats to win the White House.”

There are two problems, the first is that if the Israelis act after the conventions, it will be explicitly seen as meddling in US partisan politics, and the blow back later will be too intense, and the Israelis understand the ebb and flow of party politics, and the second is that $200/bbl oil would do immediate damage at the gas pump.

Further, I think that Republicans no longer have the confidence of the American people on anything including national security.

Then again, maybe I am an optimist.