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22 January 2012


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Joseph Moroco

Thank God it's all going swimmingly in Libya.


Sir, what your opinion on Syria? Would we be better off with a weaker Assad (like Saddam) or simply allow the game of thrones to continue? IMHO, there is more bad blood in Syria than Iraq (tribes can be mix of Sunnis, Shiites and even Kurds).



Nobody here is willing to do anything. pl

Charles I

For the eco-determinists among us:

Failed treasury auction
portends Egyptian disaster



"Egypt faces a disaster of biblical proportions, and the world will do nothing about it. Officially, Egypt's foreign exchange reserves fell by half during 2011, including a $2.4 billion decline during December - from $36 billion to $18 billion, or about four months of imports.

But the situation almost certainly is worse than that. More than $4 billion left the country during December, estimates Royal Bank of Scotland economist Raza Agha, noting that the December drop in reserves was cushioned by a $1 billion loan from the Egyptian army and a $1 billion sale of dollar-denominated treasury bills.

The rush out of the Egyptian pound is so rapid that Egyptian investors refuse to hold debt in their own national currency, even at a 16% yield. After Islamist parties won more three-quarters of the seats in recent parliamentary elections - 47% for the Muslim Brotherhood and 25% for the even more extreme al-Nour Party - the business elite that prospered under military rule is counting the days before exile.

The first reports of actual hunger in provincial Egyptian towns, meanwhile, are starting to trickle in through Arab-language press and blog reports. A shortage of gasoline accompanied by long queues at filling stations and panic buying was widely reported last week. "

Morocco Bama

****the business elite that prospered under military rule is counting the days before exile.*****

Wonderful, just what the U.S. needs. Some more hopelessly corrupt and overly-privileged, aristocratic emigres to further poison its well, as if it didn't have its share of them already....the list is seemingly endless and it just keeps getting larger and larger. You couple that form of immigration with desperate peasants from around the globe looking favorably upon meager working conditions and pay, and you quickly realize this isn't a Melting Pot, if it once was, it's a Chamber Pot. Before long, this new home will soon look like their old home.....and then to where do they run? Another planet? Don't laugh. They're considering it.

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