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Senior Advisor

Arab spring reality


The big story, however, is capital flight. Egyptian businessmen complain of soaring crime in the cities, the difficulty of carrying out normal transactions, and, above all, nerve-racking political uncertainty. Rich Arabs do not trust this revolution. Since January they have been rushing to get their cash into safe havens, some arriving in London or Zurich with suitcases full of cash. According to Reuters, the country's foreign-exchange reserves fell by as much as a third in the first three months of the year. Al-Hayat newspaper estimates that $30 billion has left Egypt since the onset of the Arab Spring. ...

... The bottom line is that economic conditions have gotten worse, not better, as a result of the Arab Spring. Inflation is now above 12 percent in Egypt. Unemployment is up, too.

None of this should surprise us. Such is the life cycle of revolutions. What begins with euphoric crowds soon slides into a second phase of economic paralysis. The same happened in France after the initial "bliss" of 1789 and in Russia after 1917. In each case, exuberance at the overthrow of the old regime was swiftly succeeded by exasperation at the decline in living standards. And that was what gave the political extremists their opportunity to peddle their radical ideology of war against internal and external foes. Yesterday, the Jacobins and Bolsheviks. Tomorrow, I fear, the Muslim Brotherhood and Al Qaeda.

3 Replies
Senior Contributor

Re: Arab spring reality

Part of the problem that many fear in America. 


The Sky is Falling, again

  The Sky is Falling another time?   Relax Henny Penny, this rash of fear propaganda is zionocon preparations for the UN vote on the legal status of Palestine.   Fascists always attempt to rule by keeping their subjects scared of the scapegoat.


 This is zionocon propaganda cranked up to hysteria mode, preparing for the Palestine UN votes, this parrot feed is so full of outright lies and distortion aimed at those who haven't been reading the world media instead of the spin from some dedicated hasbara orifice. 

Senior Advisor

Re: The Sky is Falling, again

snip-"We've borne witness to the beginning of new chapter in the history of a great country and a longtime partner of the United States," said Obama as the Mubarak regime fell.  At the same time, he signaled his willingness to open talks with the Muslim Brotherhood, and gave every indication that he would not oppose the establishment of an Islamic state in Egypt.  The storming of the Israeli embassy, however, is only the latest indication that such a state would not remotely uphold “the rights of peaceful assembly” and “free speech” that Obama has hailed as a goal of the Middle Eastern uprisings.

The Egyptian protesters who showed such disregard for international law regarding the sanctity and inviolability of embassies, and the Egyptian authorities who stood by and did nothing to stop them, are the ideological children and heirs of the Islamic supremacists who stormed the American embassy in Tehran in 1979.  Like them, they want to establish a hard-line Islamic state that is certain to be no friend of the United States and will pursue a course of open hostility, and probably eventual open war, with Israel.  Also like the Iranian hostage takers, the Egyptian protesters have friends in high places who share their ideological and religious perspectives, and are eager to help them attain their goals.

This is the Egypt, and this is the Middle East, that Barack Obama is giving us. And in the coming days and weeks, he will find that the forces he has helped unleash will be impossible to contain.