zerohedge‏@zerohedge Quoting: Luisport
Egypt stocks down another 4%, with yesterday biggest drop since Arab Spring
Why do I get the feeling that Egypt is going to fall apart and take the cease fire with it?
Think about what a 13% drop - 9% yesterday and 4% more today ---in Egyptian stock market represents.
Literally BILLIONS of dollars lost by their economy. Remember all this drama over whether or not Obama/EU will approve a 4.5 billion dollar loan or whatever..... Now Egypt lost TWICE that in just 2 days in the stock market.
Their tourism is only going to get worse. The brain & investment drain will accelerate. Mind you, Mubarak's plutocrats already took a ton of gold & treasure out of the country as the revolution commenced in early 2011.
Egypt also doesn't get Israel's money for gas because of the blown pipeline. In fact, Israeli and American energy companies have an 8 billion dollar LAWSUIT waiting in the wings for Egypt's violation of the gas contract in question. I think Israel only held off on filing it because they wanted to give Peace with Egypt a chace -- likely at the strong urging of Obama & EU.
Maybe now average Egyptians will see the RUIN that Muslim Brotherhood has brought upon the country in only 6 months of official rule.
Then again, the people who STARTED the revolution -- secular liberals -- are dumbasses who are allergic to learning. Just like Liberal Idealists collapsed the Monarchy and brought hard-core Communists in power in the Russian Revolution in 1917. Just like Liberal-Idealists collapsed the Shah in Iran -- and brought the psychotic Apocalyptic Twelver Ayatollahs.
Same with Egypt, it seems. LOL totalitarian forces -- whether Communists, Fascist or Islamists -- are nothing if not OPPORTUNISTIC. Kinda like viruses or bacteria only attacking the weakened immune system. Same with Muslim Brotherhood.