Bread riots or bankruptcy: Egypt faces stark economic choices

Wow maybe someone in Egypt should think about maybe trying to get Western tourists to come and admire the ancient artifacts left over from when the people of Egypt did stuff. I bet that money would go a long way to buying food from people who grow stuff.

Let us hope that Canada and other food producing nations do not make the same mistake with Egypt that we all did with North Korea and give them food so that they can continue to implement horrible policies and divert resources towards trying to destroy us rather than feed their own and develop civilization. Something about, ‘destroying them in their own house with their own miserable hands’ I think it went.

Had the last several presidents not submitted to NORK blackmail they would never have developed the bomb.

H/T Red

CSMonitor:

Egypt needs IMF money to stay afloat, but the international lender is demanding tough subsidy cuts from an already-embattled government.

By , Staff writer / April 3, 2013

A woman with a tray of bread buys vegetables near a bakery in Cairo. Steep food price inflation is a particular worry for Egyptian President Mohamed Morsi.

Mohamed Abd El Ghany/Reuters

Cairo

It was a perilous time for Egypt. The International Monetary Fund (IMF) was demanding subsidy cuts in exchange for a loan Egypt’s leaders desperately wanted. So they complied, cutting subsidies on the bread, cooking fuel, and gasoline average citizens relied on to live.

Click to continue:

 

About Eeyore

Canadian artist and counter-jihad and freedom of speech activist as well as devout Schrödinger's catholic

11 Replies to “Bread riots or bankruptcy: Egypt faces stark economic choices”

  1. I was on a ship taking possibly foreign aid in both cases to Egypt & Israel in 1982.

    – In Egypt we delivered M113 armored personnel carriers and wheat.
    – In Israel we offloaded farm tractors

    The ship docked ahead of us in Egypt was a NORK ship carrying ammo.

    Give a man a fish, feed him for a day. Teach a man to fish & he will feed himself for the rest of his life.

    I gave a real life true example of the parable or saying. Here endeth the lesson.

  2. “Japan’s Secret War”
    “Japan’s Race Against Time to Build Its Own Atomic Bomb”
    by Robert K Wilcox

    The Japanese nuclear bomb effort was based at Hungnam, Korea, which is now in North Korea.
    North Korea had the Hydroelectric power needed to run centrifuges.This is the same set up that the U.S. had. Hanford is close to the Columbia river dams.

    The Russians invaded at the end of the war & took the equipment, material & any paperwork they could law hand on.

    Abdul Qadeer Khan (AQ Khan) certainly had a hand in North Korea’s nuke program. The good ole USSR might have taken anything not nailed down, but the dam providing hydro power & the uranium mines were still there. AQ Khan was like a bee pollinating flowers flitting from North Korea to Pakistan to Iran.

    But I won’t disagree that President Clinton & Madeleine Albright helped by giving North Korea an economic stimulus (food, oil & 2 light water reactors) to carry them thru economic mismanagement. We actually started to build the reactors.

    Will we really know how very, very happy Madeliene Albright made Kim Jong Il?

    Successfully extracting tribute from the enemy buys a lot of loyalty at home among the elite.

  3. Since the left controls every nation by Germany it is safe to say they will send food and what money they can steal or print to Egypt, not that this is going to do much good.

  4. I am guessing the end of the summer a the latest. My window is June to August. Of course the results of the IMF talks will change that somewhat.

    http://www.tradingeconomics.com/egypt/foreign-exchange-reserves

    This will interact with event in Syria as well. A big Muslims Brotherhood win will make Morsi feel his oats. Of course while they are in the ascendancy they might hold off on striking Israel until they get their ducks ion a row.

  5. Be sure and factor in the European economic mess into your calculations, they are in bad shape, probably in worse shape then reported. Slovenia, is being mentioned as the next to need a bailout but be sure and keep an eye on Spain, Portugal and Italy any one of them could be next despite the predictions and warnings. Another national collapse will make it harder for anyone to help Egypt or Syria.

  6. Obama gave outright or loaned the Egyptians 250 million dollars because he is stupid or the MB are his kind. Okay I looked it up as I was posting. I was wrong. It is much worse. As long as he floats them they do not have to do things the right way. As long as he cleans up their messes, they will continue to run the Egyptian economy into the ground.

    Egypt can lose $1 billion in a month. Obama floated them 2 months. He can’t float them anymore during the sequester without riots here.

    I cited a Chines News Agency. They are not exactly friendly to the U.S. or U.S. oligarchs. they have their own oligarchy to protect.

    “Obama relieves debt, guarantees loan for Egypt

    2011-05-20

    WASHINGTON, May 19 (Xinhua) — U.S. President Barack Obama said on Thursday that the U.S. will relieve up to 1- billion-U.S.- dollar debt and guarantee another 1 billion dollars in loan for Egypt.

    In his major speech on the Middle East policy, Obama said U.S. does not want Egypt to be “saddled by the debts of its past,” and the loan will help Egypt on finance infrastructure and job creation.

    He also said the U.S. has asked the World Bank and the International Monetary Fund to present a plan at next week’s G-8 summit on how to “stabilize and modernize” the economies of Tunisia and Egypt.”

    http://news.xinhuanet.com/english2010/world/2011-05/20/c_13884161.htm

    http://www.nytimes.com/2012/09/29/world/middleeast/white-house-move-to-give-egypt-450-million-in-aid-meets-resistance.html

    http://www.nytimes.com/2012/09/04/world/middleeast/us-prepares-economic-aid-to-bolster-democracy-in-egypt.html?pagewanted=all&_r=0

  7. @ Richard

    Funny that you mention Slovenia. I did not hear about them until I read ZeroHedge yesterday.

    But you are right.

  8. I read about them day before yesterday and had to think about why they would be next, from what I read they are like Cyprus and attracting deposits with low taxes but have very few other means of bringing in money.

  9. That explains it. I had hopes for Slovenia. The broke away from Yugoslavia in 1991. It was a short 2 week war with little action & few casualties. I think it was too far from Serbia & with intervening hostile territory, Croatia, for the Serbs to come to grips with the Slovenes. I would have hoped economically things would have gone as 1991.

    As a side note 1st it was Slovenia. Then Croatia & yet NATO & others just sat on their hands? Why?

    I mean there was an obvious sequence going here!

  10. That was because the US had no dog in the fight and with the exception of Britain Europe doesn’t have any military that is worth much. Their spec ops types are world class and the Foreign Legion is still a lean mean fighting machine but the rest of their military units are politically correct. Which is sad in the 60s their Armies were small but real good.

Leave a Reply

Your email address will not be published. Required fields are marked *

*