A coup has taken place in Egypt with the military now in charge


Mubarak is gone, and a military council is in charge.  The senior leaders of the military now have the challenge to move the country from a military dictatorship under 31 years of military rule towards some type of democratic government.  There are many questions concerning political aspects, but it does not seem clear that the region, including Suez & Israel can expect some continuation of local peace treaties and inter country stability. Mubarak Resigns, Military is in Charge | Stratfor Egyptian Vice President Omar Suleiman delivered the following statement Feb. 11: “In the name of God the merciful, the compassionate, … Continue reading A coup has taken place in Egypt with the military now in charge

The value of banks to people


There are some amazing books out recently that question how we think about economics.  I am now into “The Price of Everything” by Eduardo Porter.  I recently read the New Capitalist Manifesto by Umair Haque, which in retrospect was at the opposite end of the valuation of price chain. Umair’s book looked at price considering all costs both immediate and future.  Porters book looks at price as how people interact in the here and now. How do people react to gas prices; how do people react to the availability of plastic bottles in garbage dumps in Delhi; how do people … Continue reading The value of banks to people

Damascus Syria – situation normal


I was curious to see what the results of the predicted day of rage in Damascus, Syria would be.  Well we appear to have the answer in this translated version of the syria-news.com which I am assuming is a State approved media source (confirmation would be useful).  Note the relevant photo indicating cars travelling as normal and zero pedestrians.  The language, presumed disinformation by State Media and constant blaming of others is something that leaps out.  Or maybe not. Turns out no-one showed up and according to multiple news sources. Situation normal. Translated version of http://www.syria-news.com/readnews.php?sy_seq=128283 On Syria-news.com (emphasis mine) … Continue reading Damascus Syria – situation normal

Can this be the United States? | ‘forced into a position of defaulting on its debt’


When you read this, if you ignore the words ‘United States’ this could be an African failed country. Bernanke warns of catastrophe if debt limit not raised (Reuters) – Federal Reserve Chairman Ben Bernanke on Thursday issued a stern warning to Republican lawmakers that delays in raising the United States’ $14.3 trillion debt limit could have "catastrophic" consequences. "Beyond a certain point … the United States would be forced into a position of defaulting on its debt. And the implications of that on our financial system, our fiscal policy and our economy would be catastrophic," he told the National Press … Continue reading Can this be the United States? | ‘forced into a position of defaulting on its debt’

Todays developments – Dep Head of State TV quits #Egypt


Shahira Amin (deputy head – worked since 1989) resigned from Nile TV and joined protest in Tahrir Sq.   Other developments today: Army retaking control against pro-Mubarak supporters Minister of Interior had travel privileges revoked and assets seized Prime Minister apologized for shootings and violence Wednesday, promised to investigate but purposely blamed extremists and took no blame.  Incredibly said that business people from the Pyramids were angry at having their business disrupted and that was the reason for the people on camels and horses charging the anti-Mubarak protesters. Al Jazeera is back up again Continue reading Todays developments – Dep Head of State TV quits #Egypt

What is the likelihood of genuine secular outcomes in the ‘Dominoes’ | Egypt could be the bellweather


This chart from the BBC.  Some revealing and counterintuitive information.  Three other countries that leap out here are Algeria, Morocco, and Libya.  However it is also interesting that Libya is the lowest in internet users.  Does this mean they will be less likely to resist Ghadafi? For that matter as pointed out today by Roubini in a piece in the FT we do need to be careful in what is wished for.  He notes the history of populous uprisings to date within the middle east has almost always resulted in greater Muslim extremist views and not the hoped for secular … Continue reading What is the likelihood of genuine secular outcomes in the ‘Dominoes’ | Egypt could be the bellweather