4 Comments on “Egypt: the nub of the issue”

1. Yes, it did occur to me among other things. The Dutch media explained soberly how, when shops, services and banks are looted and closed, and no protection of private property exists, Egyptian people would suffer a lot. Risk-premiums would increase, upping costs. Stock market trading-volumes and stock prices would suffer. Oil prices would rise very significantly. On the other side, market volatility is the life of the arbitrage market; large speculative gains could be had from strong price fluctuations if you are quick enough. The moral of the story: the revolt is admirable and courageous, but it will fizzle out when people run out of the wherewithal of life, come to their senses and allow order to be restored for the sake of collective survival (the military could potentially trounce the protestors, but bide their time, until the masses are exhausted and bereft of everything).

2. Well, that and “Will it hurt Israel?” are the always the first question re anything in the Middle East. While on the treadmill at the gym (the only time I watch TV), I saw the coverage on MSNBC and laughed so hard, I nearly fell off. According to MSNBC, Egypt’s revolts will lead to: (1) terrorist training camps and insecurity for Israel, (2) the end of the “peace process” and insecurity for Israel, and (3) more power to Hamas and insecurity for Israel.

   No word on how Egyptians might actually be affected. You may have heard of Egypt: it’s the country to the west of Israel that has 12 times more people.

   Meanwhile, there’s been a slight change in USgov/corpmedia talk on Egypt. Now it’s ElBaradei who seems to be parachuting in. And Sec Clinton says she wants an “orderly transition.” NPR is beating the drums for him. And the BBC reports of his arrival show that he’s been well-protected by the Egyptian military. What CNN was reporting as a “leaderless riot” now has a responsible “reformer” at the helm, duly appointed by our betters.

   So instead of a Chavez, Egypt will get a Havel. Hip hip zzzzzz….

3. I can already hear a liberaltarian defense of the headline: it was a subtle appeal to doux commerce!

   http://delong.typepad.com/sdj/2010/03/a-few-notes-on-the-doux-commerce-thesis.html

4. ptolemaic parochialism of liberal capitalist logic

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