January 18, 2013
HOW’S THAT “ARAB SPRING” WORKIN’ OUT FOR YA? (CONT’D): Egypt Turning Into Arab Version of Haiti. “The cumulative effect is that Egypt is fast becoming a Middle Eastern version of Haiti: a country without meaningful tourism, minimal foreign investment, massive capital flight, and eventually an exodus of its best and brightest. That, of course, will inevitably become a crisis for Egypt’s neighbors, who will be forced to shoulder the political and security burdens of its implosion. But most of all, it is a tragedy for Egyptians themselves, who, having once dreamed of greater political liberalism after Mubarak, have woken up to an economic nightmare presided over by the Muslim Brotherhood.”
Actually, this is what a lot of them wanted. Now they’re getting it fast and hard.