But I Thought The "Arab Spring" Was Good?
The Market Ticker ® - Commentary on The Capital Markets
Posted 2012-11-25 20:25
by Karl Denninger
in International
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But I Thought The "Arab Spring" Was Good?
 

Whadda 'ya mean we just traded one dictator for another?

Egypt's stock index fell by  nearly 10 percent Sunday in the first trading since President Mohammed Morsi  issued decrees to assume sweeping new powers, while a 15-year-old boy was killed  in an attack on the Muslim Brotherhood's headquarters and police in central  Cairo fired tear gas at protesters.

"Sweeping new powers"?

Uh, no.

He effectively declared himself Pharaoh, which is of course what dictators do.  Just like Mubarak did, if you remember.

The judiciary is understandably unimpressed with this move, and so is the Egyptian stock market, which immediately dropped 10%.

Of course this begs the question of what an asset is worth when the King can steal it? 

The obvious answer, of course, is zero.

The concept of a secular government seems to elude all of the nations in that part of the world.  Even Israel calls itself The Jewish State, which of course is utterly inconsistent with a secular, religion-blind government that respects all religious paths as a matter of conscience but gives neither fear or favor to any of them.

We don't do such a great job here in this country either, despite the formal statement in our Bill of Rights that such adherence is verboten.  It's still common to hear politicians appeal to a Christian God; while many of us (your author included) do believe in same, that's not the point -- the point is that I can't know if I'm right and neither can anyone else (that's why it's called "faith" folks!) and none of us will until we're dead, at which point it's a bit late to change your mind.

The problem with using faith as justification for a government's decisions is that it places review of those decisions beyond the boundaries of the people making them.  That's always bad, as review and debate are an inherent part of good government.

It would be nice to believe that the governments of the Middle East could figure this out on their own, but sadly history since WWII (and well before that) demonstrates that we're simply ignorant -- or worse -- if we believe that helping one group to depose another will lead to that laudable outcome.

Indeed, history shows that the vast majority of the time when you have an uprising, whether it be formally called a "Revolution" or otherwise, you get a result that looks much more like Hitler or Pol Pot than you do George Washington.

For those who pine for such a thing, whether it be there or here, this is the latest object lesson in what usually comes about when that path is chosen.

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User Info But I Thought The "Arab Spring" Was Good? in forum [Market-Ticker]
Gamma
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I recall when Egypt went "springy" a year or so ago...I never had the slightest suspicion or hope that a democratic revolution was in the cards. No, I suspected that all of these nations were in effect a pinball machine with a tilted table. Sure, you can keep the ball in play for some length of time but sooner or later, down through the flippers it will go, and that result was clearly and inevitably Islamist.

I don't mind saying that I think the same is true for the US, only in a socialist direction. Everything on the way from here to there is little more than a delaying event.

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This stuff we're going through, this is nothing compared to the Middle Ages.
They told me if I voted for John McCain, an idiot would be a heartbeat away from the presidency. Sure enough...
Frat
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Remember during the last few year of the "W" administration, when the libtards were all freaking out the Georgie would basically declare himself emperor and do away with elections and such?

I had no such delusion, and while there are several things I won't forgive W for during his 8 years (NOT finishing A-stan before going into Iraq being at the forefront), I could tell - he was ****ing GLAD to get the hell out of there. The fears were unfounded. Fast-forward to 2015/6 .... how many of those who worship the current resident of the Oval Office will be THRILLED if he were to do the same? I had no worries about Bush, because enough people REALLY wanted him gone - from all political persuasions.

But what about Obama?

ETA: More importantly... what about Obama's FOLLOWERS?

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We're ****ed. Where's Henry Bowman when you need him?

Gamma
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My recollection was that, regardless of party affiliation, people were dog dirt tired of Clinton after 8 years, dog dirt tired of GWB after 8 years, and if history is any guide, will be dog dirt tired of 0bama after 8 years. The difference in this case, as far as I'm concerned, is the prospect of having such tiny shards of a shattered Constitutional republic left that there won't be anything left to put back together.

inline


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This stuff we're going through, this is nothing compared to the Middle Ages.
They told me if I voted for John McCain, an idiot would be a heartbeat away from the presidency. Sure enough...
Jymm
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Frat - Even the Liberals will want Obama gone after 8 years. I saw an article that said the Conservatives finally rebelled against GWB with the Tea Party, and asked how long will it take the Liberals to rebel against Obama. My guess is the same as Bush, 7 years and 10 months.

Most Arabs want a Islamic theocracy, not Democracy. Remember Czarist Russia? When the Czar fell, the people WANTED a dictatorship. They got Lenin and Stalin. People, you never know, they want to be led,not to be free. Go figure.
Markgoldman
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So is this strongman pro-IMF, World Bank, Federal Reserve and the US $?

If no I don't like his chances.

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Consent Withdrawn.
Heisenberg
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From the Pravda:
Quote:
Recently, Obama has been re-elected for a 2nd term by an illiterate society and he is ready to continue his lies of less taxes while he raises them. He gives speeches of peace and love in the world while he promotes wars as he did in Egypt, Libya and Syria. He plans his next war is with Iran as he fires or demotes his generals who get in the way.

http://english.pravda.ru/opinion/columni....
Would 50% of Obama's voters be able to find Egypt on a globe?
Morla
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And the hat doesn't even look good on him..

Inline

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Fear of govt IS the government.. Statism is a pack of unbacked threats; If govt gets out of control, ignore it and go about life as you see fit. Where's your crown, King Nothing?
Etz
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New bankster puppet.

Same as the old bankster puppet.

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Grumpygirl
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Quote:
Recently, Obama has been re-elected for a 2nd term by an illiterate society and he is ready to continue his lies of less taxes while he raises them. He gives speeches of peace and love in the world while he promotes wars as he did in Egypt, Libya and Syria. He plans his next war is with Iran as he fires or demotes his generals who get in the way.

That's basically what my husband thinks of Obama & the United States, Heisenberg. He's Canadian.

Crzymorse
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Arafat died with close to $1B in net worth. Mubarak was worth about $1B as well. This is about plundering foreign aid not religion. The payday is huge if you become el hefe in these countries.

So they keep the peace by oppressing their own people with our money. That keeps Israel safe and keeps the oil flowing. Apparently the people over there are stupid as they fall for the same setup time after time. I guess I can apply that same stupidity to our populace and our two party monopoly that funnels hundreds of millions of dollars to similar scumbags.

Obama supporters couldn't find egypt with turn by turn navigation on their free phones.
Peterm99
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Yet another instance where Pravda seems to be much more accurate and truthful than the US MSM.

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Cvdoc
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Post-WW II, The US went around with the CIA and placed numerous military leaders in power. Perhaps our model of control has changed. We recognize the latent force of fundamentalist Islam and are turning it to our own purposes. Isn't that what we've done in Saudi Arabia.

The Christian world has a tradition arising out of its European history of a division between Church and State. Nothing of the kind exists in Islam and their limited exposure to the hedonistic West hasn't helped.

It wouldn't surprise me if post-Colby CIA thought that helping Islam expand would be a great weapon against the expansion of Russia and China hegemony. But they forgot the Law of Unintended Consequences.

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Landshark
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Quote:
New bankster puppet.

Same as the old bankster puppet.


Etz, thank you for getting it.

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Nomullet
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Arab spring was about 1000 years ago.

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Bertdilbert
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Instability sells military hardware. I think it is called customer creation.

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Is there now any question whether or not the O administraton WANTS the muslim brotherhood in charge of Egypt?

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Andysvw
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Maybe people should spend some time looking at the revolutions that made things actually better. Was Egypt a revolution or just self inflicted austerity?
Fedwatcher
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After the “Arab Spring” you get a new power structure. It is often not what you want. That is what happens. Most “Revolutions” end badly, that is what you can expect. The examples in history are too numerous to list here.

The sad fact is that we in the US are often on the wrong side and often have to deal with the blowback.

There is the short term (which we often take) and the long term (which we seldom take).

Egypt is no different. It is a mess. And now we have another mess to deal with. SNAFU stands for Situation Normal All Fu**** Up..

We have a number of political changes in Egypt to go through before we get to a stable government the West can deal with. History teaches us that that is always the case.
Mo
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No, Fedwatcher, history doesn't teach that.

There are many cases where revolution leads to a government that destabilizes an entire region. Russia, c. 1917, Germany, c. 1933, France c. 1789, China, c. 1949, Indochina, post WWII, Iran, 1979... are but a few examples.


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Stonedog
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Karl - awesome ticker. You got to the root of the issue in a way that the mainstream media could never do...

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I have no doubt that there's a line-up of American diplomats in Cairo a block long just waiting to lock their lips onto Morsi's ass as tight as they used to lip-lock Murbarak's ass. The American government will ***** itself out to any joker who currently holds the keys to the King's palace. If we would sell American military hardware to Al-Queda terrorists in Libya the sky's the limit.

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Landshark
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Quote:
After the “Arab Spring” you get a new power structure. It is often not what you want. That is what happens. Most “Revolutions” end badly, that is what you can expect. The examples in history are too numerous to list here.

The sad fact is that we in the US are often on the wrong side and often have to deal with the blowback.


In this case, it's exactly what the west wants. What you call "blowback" the west calls business as usual.

The Washington/London axis has been in the business of regime change for many decades. What you're seeing is nothing but a refresh. Mafia on a grand scale.

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Success in life is a matter not so much of talent and opportunity as of concentration and perseverance.

– C. W. Wendte
Morla
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Who says the Egyptian revolution is over? Let's not rush to judgement just yet..

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Fear of govt IS the government.. Statism is a pack of unbacked threats; If govt gets out of control, ignore it and go about life as you see fit. Where's your crown, King Nothing?
Landshark
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Ah, to be young and naive again.

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Success in life is a matter not so much of talent and opportunity as of concentration and perseverance.

– C. W. Wendte
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