Egyptian “Facebook” Revolution: U.S. Foreign Policy Fail – All WTF, All The Time.
Congratulations to the U.S.A. for their deft handling of the Egyptian problem. And who is Nobel laureate, ElBaradei? Globalist? Islamist? Secularist? Saviour? Opportunist? Sorry. Colour me sceptical when it comes to this guy.
Update: Feb. 1, 2011 ……
“For every complex problem there is an answer that is clear, simple, and wrong.” ~ H. L. Mencken
I decided that I would update this post with a little less ‘knee-jerk’ and a little more chin-scratching. I decided to take down a video spoofing U.S. Secretary of State Hillary Clinton … a little too anti-American and, frankly, I just don’t believe much of it’s message. I still wanted to express my frustration with the U.S. for exacerbating the situation in Egypt and elsewhere in the world. It is my contention that the unwillingness of the U.S. Government to change its’ monetary policy to something approaching rational and prosecute the perpetrators of widespread banking fraud has led to inflation around the world. This inflation and shrinking of opportunity has hit the poor and less-advantaged hard and it is little wonder that people in these nations are taking to the streets. It’s not all America’s fault. For the most part, it is the repressive and regressive nature of their ruling regimes that have left these people vulnerable – whether those regimes are arrayed against Israel and America or not.
The Ticker Guy, Karl Denninger, puts hammer to nail here:
It’s always amazing to watch our government play patty-cake with tin-pot dictators when it suits us, even though they have a habit of torturing and otherwise abusing their citizens. They hold fraudulent elections or no elections at all, they refuse to bend to the will of the people, and they claim a right to perpetual rule.
Mubarak has a brutal and long history. Coming to power after Anwar Sadat was assassinated in 1981, he has been an effective dictator since ascending, as the nation has been under an Emergency Law since 1967. This state of emergency has provided the government with the excuse to take virtually all rights and bin them, including freedom of the press, assembly, and others. Unlimited imprisonment without charge or trial is permitted and reports of torture of prisoners are common.
Thaddeus may be well-intentioned but ex-post-facto analysis usually is. The United States has a history of supporting this thug that goes well beyond the last few weeks and days.
In addition since 2005 the Egyptian Pound has been pegged to the United States dollar, and the nation has undergone a cumulative 45% inflation rate in the last three years imposed on it by our Central Bank and profligate Federal spending, which Bernanke has been all too eager to monetize.
With a per-capita GDP of about $2,700 it’s people are 1/17th as capable of producing income as those of The United States on average and well-below other nations such as China ($4,300) and Belize ($4,500) that are commonly regarded as quite poor.
The nation’s people are clearly incapable of absorbing a 45% increase in their cost of living and this has largely played into the causes of the current uprising.
(read the rest)
Update: The Wall Street Journal has an interesting graphic comparing global inflation rates. Note where Egypt sits.