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|Subject: Egypt Investment Collapsing...||Date: 5/8/2013 9:04 AM|
|Author: tjscott0||Number: 681223 of 737099|
as Citizens Turn Into Vigilantes.
In a dimly lit Cairo workshop, Hussein spins a metal pipe on a lathe, sending sparks flying. In a few minutes, it’ll become the barrel of a gun. Sometime after that it will join the growing arsenal of illegal weapons on the streets of Egypt.
Artisans who make machine parts by day are turning into bootleg gunmakers at night, says Hussein, 54, who asked not to be identified by his full name for fear of prosecution. He only sells to a middleman because “trust the wrong person and you’re going to jail.” He can make as much as 3,000 pounds ($435) per gun -- about 20 percent of what a legally licensed one costs.
“Fear is big business nowadays,” Hussein said. “People buy the guns because they’re afraid. People buy the guns because they want to scare others. We’re in a jungle now.”
More than two years after the fall of President Hosni Mubarak, the proliferation of weapons and a spate of vigilante killings, violence and sexual attacks are eclipsing the hope born from the revolt.
Egyptians who had expressed hope for food and jobs during the uprising, are instead confronted with unemployment and rising prices. Lines for subsidized fuel have triggered protests and strikes, as well as brawls.
Net foreign direct investment was negative for the first time in 2011
The vigilantism is tied to what Egyptians describe as a loss of faith in the security forces, which are seen as either embracing the old Mubarak-era brutality or simply refusing to do their jobs.
The White House is working with the Egyptian government on several options to address the uprising that started in Cairo over a week ago. One of the options involves Mubarak stepping down immediately and relinquishing power to a transitional government. U.S Secretary of State Hillary Clinton urged the Egyptian government and "a broad and credible representation of Egypt's opposition, civil society and political factions to begin immediately serious negotiations on a peaceful and orderly transition." Since the protests broke out in Cairo 10 day ago, the Obama administration has moved from embracing Mubarak to urging him to go.
Well that decision is working well....NOT!
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