October 10, 2011

“ARAB SPRING:” Egyptian Army Vehicles Run Over Coptic Protesters in Cairo.

UPDATE: Islamists Storm Tunisian University.

ANOTHER UPDATE: Egypt Descends Into Chaos. “No-one appears in charge. Central bank foreign exchange reserves are down to just $19 billion, or four months’ imports, the Financial Times reported last week. . . . Egypt literally will run out of food. It imports half its caloric consumption, mainly wheat (although Egyptians eat less wheat than Iranians, Moroccans, Canadians, Turks and Russians). Egypt spends $5.5 billion a year on food subsidies. Its social solidarity minister wants to change the system (which subsidizes some people who can afford to pay more than the penny a loaf the government charges), but seems deeply confused. ‘We need to change consumer habits so that we are not consuming so much bread. In Mexico, for example, they rely more on potatoes. Why can’t we start shifting toward that?’ said Saad Nassar, adviser to the agriculture minister. Mr. Nassar seems unaware that Mexicans eat more corn than wheat or potatoes. This discussion would be comical if not for the fact that Egypt is about to run out of money to pay for any sort of food.”

As Roger Simon noted yesterday, the Arab Spring is a horror show.

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