UnThreaded | Threaded | Whole Thread (1) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: tjscott0 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 756381  
Subject: Egypt Investment Collapsing... Date: 5/8/2013 9:04 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 1
as Citizens Turn Into Vigilantes.

http://www.bloomberg.com/news/2013-05-07/egypt-investment-co...

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.


http://www.usnews.com/news/articles/2011/02/04/obama-adminis...

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!
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (1) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Macro Economics

Russia Collapsing Again?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement