• pagett.communications

  Jul 2 2013, 10:11

  Report Abuse

  Egypt’s economy is sliding into the abyss because the country can no longer afford to subsidise it’s own people. This is resource depletion happening on our TV screens right now, not some theory of our future, Egypt is our future. They are rioting because of a future they recognize as hopeless. They have enjoyed a period of delusion (just like the rest of us) where they had cheap food and fuel, and the jobs derived from it. They saw the country falling apart under Mubarak—so they got rid of him. Morsi was equally powerless, so the mob wants his head too. This is not a political problem, it’s resource problem. People with jobs and full bellies don’t riot What is happening in Egypt right now is the world in microcosm (though not so micro maybe). Their current population stands at 80 million, in 35 years time it will be twice that number. Their land produces enough food for 55 million at most. This is the real frightener than no one dare mention, yet they scream at elected leaders, and demand change' as if prosperity can be voted for. Much the same thing is happening throughout the middle east, and by definition the rest of the world. It has nothing to do with politics or religion, the Egyptian economy is subsidized at a rate of 30%, fuel is sold at about 20% of its real market value, some basic foodstuffs at a seventh of real cost. This is unsustainable, and there is no answer to it. Jobs also depend on cheap fuel. One way or another we are all living on subsidized food and fuel. If food and fuel don’t appear at these prices, then people riot. when our food and fuel goes into short supply, we will riot, just like the Egyptians. The truth is the Egyptian government has an annual trade deficit of $20 billion, and can no longer afford to subsidise bread and fuel, and they have no more to offer. Things are going to get a whole lot worse, Egypt is just the start of it, The civil war in Syria is driven by resource shortage, where farmers have been forced off the land and into cities because of drought. Saudi can only hold itself together so long as they have oil to exchange for food. When their oil runs out, Saudi will collapse too. Morsi is no doubt aware that this really is the end of the oilparty, whoever takes over from him faces the same catastrophe. http://www.endofmore.com/

• paulhunterjones

  Jul 3 2013, 22:11

  Report Abuse

  As promised the coup took place at the end of the countdown. The challenge for the country is where it goes from here. Will the next leader face the same divergent political forces that plagued President Morsi? It is possible that Morsi abandoned too soon his efforts to rule by consensus.

See All Comments