Meet The New Boss

17 Dead, More than 200 Injured As Morsi Supporters Rally To Reject ‘Coup’

"It seems the turmoil in Egypt is far from over as hundreds of thousands (if not more than a million) protesters rallied on Friday to reject the military's removal and arrest of President Mohamed Morsi and other Muslim Brotherhood leaders. Egypt's health ministry reports that 17 people were killed and more 200 were injured in clashes between pro- and anti-Morsi protesters on Friday. You can watch live feeds from the protests here, and Business Insider has a correspondent on the ground. Some of the most intense clashes came on the October 6th bridge in Cairo, where gun shots were heard and a car has been set ablaze." Continue reading →

Continue Reading17 Dead, More than 200 Injured As Morsi Supporters Rally To Reject ‘Coup’

Military Plans to Maintain Power in Egypt after Coup

"Behind the scenes, the military, led by General Abdel-Fattah el-Sissi, plans to continue running the show. Since it took power in a coup in 1952, the military has remained the most important political player in Egypt. Neither Mubarak's fall in 2011, nor the short rule by Morsi, a member of the Muslim Brotherhood, have changed this. At 58, el-Sissi is the country's youngest general. He has never fought in a war, and only knows about conflicts with Israel from the stories of others. He belongs to a generation that was invited to receive military training in the West. In 1992 he was in Britain, and in 2006, the United States." Continue reading →

Continue ReadingMilitary Plans to Maintain Power in Egypt after Coup

Wall Street Journal says Egypt needs a Pinochet

"Presumably, the WSJ thinks the Egyptians now have 17 years in which to think themselves lucky when any who dissent are tortured with electricity, raped, thrown from planes or – if they’re really lucky – just shot. That’s what happened in Chile after 1973, causing the deaths of between 1,000 and 3,000 people. Around 30,000 were tortured. Presumably, the WSJ hopes a general in the mold of Pinochet (or generals, as they didn’t break the mold when they made him) will preside over all this with the assistance of Britain and America. Perhaps he (or they) will return the favour by helping one of them win a small war." Continue reading →

Continue ReadingWall Street Journal says Egypt needs a Pinochet

Kicking The Iraqis When They’re Down

"Yes, the Hamiltonians are moving in, and they're bearing the gifts of 'Modern Banking'. Those gifts include: Inflation, Credit Expansion, Business Cycles (Booms/Busts), bailouts, and broken financial lives. Iraqis can probably expect to see ads for some sweet and exotic loan packages in their future. And if they're lucky, perhaps some American mathematical 'economists' will fly over to teach them about the advantages of a 4% inflation rate over a 2% rate. If Iraqis are really lucky, they'll learn the time-tested secrets that 'deficits don't matter' and 'debts never have to be repaid'. Yes, the corrupt days in Iraq are about to wind down for sure." Continue reading →

Continue ReadingKicking The Iraqis When They’re Down

Boots on the ground in Egypt: trading one dictator for another [2011]

"Sure, Hosni Mubarak is now standing trial after 3-decades of looting and pillaging his country’s wealth. For most Egyptians, this is viewed as a major victory; there is a feeling of intense optimism here on the streets of Cairo, and even though nothing is fundamentally different, expectations are high. Mubarak was a symbol of tyranny, and a great deal of blood was shed to topple his regime. Unfortunately, Egyptians have essentially replaced one form of dictatorship with another. There is now one person in charge of Egypt– military Supreme Commander Mohamed Hussein Tantawi." Continue reading →

Continue ReadingBoots on the ground in Egypt: trading one dictator for another [2011]

Clashes erupt as Islamists push back in Egypt

"Enraged Islamists pushed back Friday against the toppling of President Mohammed Morsi, as tens of thousands of his supporters took to the streets vowing to win his reinstatement and clashed with their opponents in violence that killed 30 and drove the divided nation toward an increasingly dangerous showdown. The clashes accelerated after the supreme leader of Morsi's Muslim Brotherhood defiantly proclaimed that his followers would not give up street action until the return of the country's first freely elected president, swept out of power days earlier by the military. Morsi opponents called out the public to defend against the Brotherhood." Continue reading →

Continue ReadingClashes erupt as Islamists push back in Egypt

Egypt army opens fire on pro-Morsi protesters

"At least three supporters of deposed Egyptian President Mohamed Morsi were killed by gunfire as a crowd of several hundred tried to march towards the military barracks in Cairo where he is believed to be held. Al Jazeera's Matthew Cassel, reporting from near the military barracks, said several dozen people were also injured by shotgun pellets fired by the army. Security forces were cordoning the Republican Guard barracks but it was not immediately clear who had opened fire. Also on Friday, Adly Mansour, the newly appointed interim head of state, dissolved parliament by decree, state television said." Continue reading →

Continue ReadingEgypt army opens fire on pro-Morsi protesters

US’s Man ElBaradei May Head Egypt

"So perhaps it will be ElBaradei after all ... He's been waiting in the wings and the failure of the Muslim Brotherhood's regime may now bring him to the fore. It also became clear to us over time that the West's surreptitious efforts in the Middle East were emplacing Islamic regimes. This became evident and obvious in Tunisia, The Ivory Coast, Libya, etc. But for whatever reason, Mohammed Mursi didn't work out. Now perhaps a technocrat will enter. ElBaradei is in favor of installing a US$5 billion IMF package, with its attendant austerity, according to this Reuters article. Was this the reason for Mursi's ouster? His lack of cooperation with the IMF?" Continue reading →

Continue ReadingUS’s Man ElBaradei May Head Egypt

What’s Happening in Egypt?

"Former US Ambassador and neocon John Bolton has endorsed the Egyptian coup and the insightful libertarian Lew Rockwell believes nothing good can come of it for Egyptians. Below, we ask whether this is one of the greatest diplomatic reversals for the US in modern times ... then add in our conclusion that 'we don't know.' What seems fairly certain is that the Muslim Brotherhood would not have obtained power without US backing and now they are out of power. What takes place over the next few days and weeks should clarify this tale. We hope whatever happens will benefit Egyptians, who have seen nothing but bloody turmoil and despotism for decades." Continue reading →

Continue ReadingWhat’s Happening in Egypt?

When is a coup not a coup?

"Republicans also voiced strong support for Egypt’s military, whose close ties to Washington stretch back to the 1979 Israeli-Egypt peace accords. 'The Egyptian military has long been a key partner of the United States and a stabilizing force in the region, and is perhaps the only trusted national institution in Egypt today,' said U.S. Representative Eric Cantor, the No. 2 Republican in the House. 'Democracy is about more than elections,' he said." Continue reading →

Continue ReadingWhen is a coup not a coup?