CAIRO - Egypt´s benchmark stock index has plunged 9.5 percent halfway through the first trading session since the country´s Islamist president issued decrees to assume near absolute powers. Sunday´s losses on the Egyptian Exchange´s EGX30 index are among the biggest since the turbulent days and weeks after the ouster of authoritarian leader Hosni Mubarak last year. The fall follows the announcement Thursday by President Mohammed Morsi of a package of decrees that place him above any oversight, including judicial, and extend the same protection to two Islamist-dominated bodies:
Comments: The Director of the Exchange predicts bankruptcy in 3 months. Guess who will bail them out.
Question to be answered is whether the Egyptian military remains on the side lines so that Morsi & his Muslim Bros can impose a complete dictatorship. If military moves to seize power, Morsi´s fanatics may wage civil war, similar to slaughter in Syria. Obama´s primary role in uprising will be to denounce all criticism of Susan Rice as racist & sexist.
Has anyone noticed how Syria, Libya and Afghanistan have disappeared from media coverage? Sure sign of pending Obama policy failures.
If Obama hadn´t been so eager to send Hilliary rushing off to Egypt to end the Hamas-Israel war, they´d still be fighting, and the world would still be preoccupied with hating Israel while watching photo-shopped images of Palestinian urchins being carried away on stretchers.
Which would have given Mohamed Morsi some privacy away from the world´s stage to consolidate his totalitarian dictatorship by eliminating his antagonists. But with the whole world watching, Egyptian security forces have only managed to kill one protestor so far.
And where are Obama and Hillary now when their friend Mohamed so desperately needs them?
Any sensible person would head for Iceland or Thailand or Sri Lanka before the Middle East. And the turmoil and violence there isn´t going to end any time soon either! If Obama keeps his hand in, the situation stands to worsen and take forever to resolve itself.
I heard a story about a Buddhist Monk who was being questioned about his pacifist views. "What", he was asked, "would you do if you walked around a corner and were confronted by a gang of thieves?" He said that "I just wouldn´t go around that corner!" So a prudent person, just like that Buddhist Monk, would stay away from those corners in the Middle East.
Their stock market investors are departing from that corner as fast as their sell orders are executed.
DAMASCUS, Syria — Syrian government forces backed by Lebanese Hezbollah militants forged ahead with their assault on a key rebel district in the central city of Homs Sunday, activists said, as President Bashar Assad’s forces try to crush resistance in the few remaining opposition-held neighborhoods in the city known as the ‘‘capital of the revolution.’’ The push on Homs is part of a broader government offensive on rebel-held areas that has seen regime troops retake some of the territory they have lost to opposition fighters in Syria’s more than 2-year-old conflict.
Egyptian military officials said Saturday that the army has prohibited ?fishing boats from operating off the coast of the Sinai peninsula near the Gaza Strip until further notice. According to the officials, the purpose of the move, which has been implemented since Thursday, is to prevent Palestinian Jihad terrorists from infiltrating Egypt via the Mediterranean Sea. According to a source in the Egyptian army, Ynet reported, the success in the closing off of smuggling tunnels on the Egypt-Gaza border has lead to infiltration attempts ??by boat. Recently, the source added,
Cairo - Egypt´s high command said on Wednesday the army was ready to die to defend Egypt´s people against terrorists and fools, in a response to Islamist President Mohamed Mursi that was headlined "The Final Hours". The post on the official Facebook page of the Supreme Council of the Armed Forces (SCAF), headed by armed forces chief General Abdel Fattah al-Sisi, said: "We swear to God that we will sacrifice even our blood for Egypt and its people, to defend them against any terrorist, radical or fool." Issued three hours after Mursi appeared on television to reject an ultimatum from
(NICOSIA) - The president of Cyprus assured his people a bailout deal he struck with the European Union was in their best interests, but banks will remain closed until Thursday - and even then subject to capital controls to prevent a run on deposits. Returned from fraught negotiations in Brussels, President Nicos Anastasiades said late on Monday the 10-billion euro ($13 billion) rescue plan agreed there in the early hours of the morning was "painful" but essential to avoid economic meltdown. He agreed to close down the second-largest bank, Cyprus Popular, and inflict heavy losses on big
The United Nations will launch an investigation into Syrian claims that rebels used chemical weapons against its troops, even as U.S. officials told CNN Thursday that initial intelligence reports suggest no such weapons were used. The announcement follows days of claims by the Syrian government and rebel that the each used chemical weapons against the other side, allegations that have raised concern the ongoing civil war had entered a new, more deadly phase. U.S. President Barack Obama and other American officials have said in recent days there was no evidence to substantiate the reports that
Stocks turned lower in choppy trading Tuesday, with the euro tumbling to its lowest level since November, amid worries that Cyprus will reject its bailout plan. The Dow Jones Industrial Average turned lower, dragged by Caterpillar. If the blue-chip index closes lower, it will log its first three-day losing streak this year. The S&P 500 and the Nasdaq also tilted lower. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, jumped near 15. Among key S&P sectors, consumer staples held modest gains, while energy slumped.
Cyprus´ embattled president was on Sunday in talks with Brussels and political rivals to ease the terms of a planned levy on smaller deposit holders as he tried to scrape together a parliamentary majority for a €10 billion bailout for the debt-laden island. President Nicos Anastasiades is still intending to raise €5.8 billion from Cypriot bank accounts to help fund the bailout, an unprecedented move by the eurozone that could yet spark wider concern about the safety of bank deposits in the bloc. Cypriot authorities were weighing an additional bank holiday on Tuesday pending emergency parliamentary ratification of the deal which would
President Assad Bashar is running out of government troops to fight off rebels, a new report detailing the Syrian leader’s recruitment effort suggests. A Sunni cleric close to Mr. Assad — grand mufti Sheik Ahmad Badr al Deen Hassoun — has issued a decree for more military recruits, The Guardian reports. The decree suggests a dire need; if volunteers don’t step up, the government may start enforcing its compulsory service authorities, The Guardian says.
JERUSALEM — An influential Republican senator has called Jerusalem the capital of Israel, taking a stand on an explosive issue between Israel and the Palestinians. The fate of Jerusalem is one of the most intractable issues in the Mideast conflict with both Israelis and Palestinians claiming rights to the city. In his first official visit to the country, Florida Sen. Marco Rubio told Israel’s president on Wednesday that Jerusalem is “of course the capital of your country.” He reiterated America’s bipartisan support for Israel.
Iran and Hezbollah, its Lebanese proxy, are building a network of militias inside Syria to preserve and protect their interests in the event that President Bashar al-Assad’s government falls or is forced to retreat from Damascus, according to U.S. and Middle Eastern officials. The militias are fighting alongside Syrian government forces to keep Assad in power. But officials believe Iran’s long-term goal is to have reliable operatives in place in the event that Syria fractures into separate ethnic and sectarian enclaves. A senior Obama administration official cited Iranian claims that Tehran was backing as many as 50,000 militiamen in Syria.
The main purpose of US President Barack Obama´s visit to Israel in the spring is to warn Prime Minister Binyamin Netanyahu against attacking Iran, unnamed officials told Army Radio on Sunday. According to the officials, the urgency of the trip is because in his speech to the United Nations in September, Netanyahu had flagged the spring of 2013 as a significant time in the context of the Iranian nuclear threat. Therefore, they said, Obama is concerned that the prime minister will decide to attack Iran now when he is backed by
(Jerusalem) - A research center that Syria said had been hit by an Israeli air strike last week appears to have remained unscathed in the attack, according to satellite images broadcast by Israeli television on Wednesday. Diplomats, Syrian rebels and security sources said Israeli jets had bombed a convoy near the Lebanese border last week, apparently hitting weapons destined for the Lebanese militant group Hezbollah, which fought a 34-day war with Israel in 2006. Syria denied the assertions, saying the target was the Jamraya military research complex on the northwestern fringes of Damascus, 8 miles from the border.
I have never been much of a conspiracy theorist. For me it was always Oswald by himself from the Texas School Book Depository and nothing in the intervening fifty years has disabused me of this notion. For the most part, I’m an Occam’s Razor kind of guy — the most obvious explanation is likely to be true. (Snip) To put it bluntly, Occam’s Razor has moved. Things that were once possibilities now seem almost certainties to me. Principal among those is that Obama’s academic records are perpetually unavailable for a reason — and that reason is most likely that they reveal
One of President Obama´s chief political assets has been his ability to excite young people like almost no politician in history. But the days of America´s youth fawning over the president are over. A new Harvard University Institute of Politics poll released Wednesday confirms what other surveys have shown in recent months: Millennials have soured on Obama so much this year that their opinion of him largely mirrors the American public´s. Even though Obama does not ever have to face another election, he should be worried about the findings for a couple of reasons, which we will dive into momentarily.
President Obama will cast growing income inequality and a decline in economic mobility as a “fundamental threat to the American dream” during a speech Wednesday in Washington. The speech will serve as an early preview for next year’s State of the Union address, according to a White House official, who said Obama would focus much of his energy over the next three years on the issue. “The decisions we make over the next few years will determine whether or not our children will grow up in an America where, if you work hard, you can get ahead,” the official said.
Good stuff from Jonathan Turley at today’s House hearing on executive power, although I regret that I couldn’t find a more user-friendly format for you to watch. There’s no compilation clip; you’ll have to make do with the C-SPAN embed by fast-forwarding to the time cues I give you and being patient while the vid buffers (and buffers, and buffers).(Snip)That brings us to point two: Even if Congress can’t stop Obama, the courts can. The problem there, though, says Turley, is that O and the DOJ have argued successfully in many cases that no one has standing to sue him
During a presentation at the White House in which President Barack Obama touted the benefits of the Affordable Care Act, the president declared that his signature health care reform law was not going to be repealed. This assertion led his administration members, his staff, and audience members to rise from their seats and give the president a standing ovation. Obama said that ACA opponents’ alternative to the health care reform law is to champion repeal and going back to the health care delivery system status quo ante. He specifically cited Sen. Mitch McConnell (R-KY) who he said was asked directly for
A woman has revealed how difficult it is to eat healthily and stay full when living off an average food stamp budget. Melinda Moulton, from Huntington, Vermont, was one of 200 people to take part in the 3Squares Challenge, which saw her living for a week on just $36 worth of food, or around $1.71 a meal. Opting to try and eat as healthily as possible, Ms Moulton resorted to cheap foods like yogurt for breakfast, two handfuls of peanuts for lunch and lentil stew for dinner, all of which left her unsatisfied.´I don´t know how people do it,´ said
[Video] President Obama on Wednesday declared that addressing income inequality would be the focus of “all” of the White House’s efforts “for the rest of my presidency.” In a sweeping address that touched on raising the minimum wage, investing in infrastructure and ending tax breaks for the wealthy, Obama warned that the American economy has become “profoundly unequal,” declaring economic mobility the “challenge of our time.” “The combined trends of increasing inequality and decreasing mobility pose a fundamental threat to the American dream, our way of life, and what we stand for around the globe,” he said in an hour-long
Just over two weeks ago, MSNBC host Martin Bashir delivered a harsh piece of commentary that culminated in the suggestion that someone should “s-h-i-t” in former Alaska Governor Sarah Palin‘s (R-AK) mouth. Bashir offered an abject apology on his next broadcast, but a chorus of critics continued to demand action against the host. After a reported “vacation” for the host earlier this week, Bashir announced, Wednesday afternoon, that MSNBC and Martin Bashir are parting ways. Here’s the statement from Martin Bashir, via email: After making an on-air apology, I asked for permission to take some additional time out around the Thanksgiving holiday. Upon
A stunning new study unveiled on Fox News´ Hannity finds that President Barack Obama’s White House calendar records just one face-to-face meeting between Obama and his Health and Human Services (HHS) Secretary Kathleen Sebelius in the more than three-and-a-half years leading up to the disastrous Obamacare launch. The startling statistic comes from a new Government Accountability Institute (GAI) analysis of Obama’s own official White House calendar, as well as the Politico presidential calendar, and raises new questions about Obama’s executive leadership and management throughout the implementation of his singular legislative achievement. More alarming still, the president’s schedule lists 277 private
Nineteen people stood behind President Obama on stage in the Executive Office Building Tuesday as the president kicked off a new campaign to promote Obamacare. One of those people, a young Florida woman named Monica Weeks, introduced Obama after telling the story of being struck with Crohn´s Disease at age 19 and receiving expensive treatments for several years that were covered by her parents´ health care plan — because Obamacare allowed her to remain on that plan until age 26. Now, Weeks said, she has coverage through a job. "The Affordable Care Act gives young adults who are just starting
MSNBC has announced that Chris Matthews, Barack Obama´s most excitable fan, will be interviewing the President on Thursday´s Hardball. Fawning over the liberal politician is incredibly common among journalists, but Matthews has taken it to a whole new level. According to the network host, Obama is a "perfect," "cool," brilliant figure who is comparable to Jesus, Abraham Lincoln and John F. Kennedy. The verbose Matthews has no filter when it comes to the Democrat, even once bizarrely blurting out that an Obama speech made him "forget" that the commander in chief "was black." To prepare you for the likely love-fest
Continued global warming poses a risk of rapid, drastic changes in some human and natural systems, a scientific panel warned Tuesday, citing the possible collapse of polar sea ice, the potential for a mass extinction of plant and animal life and the threat of immense dead zones in the ocean. At the same time, some worst-case fears about climate change that have entered the popular imagination can be ruled out as unlikely, at least over the next century, the panel found. These include a sudden belch of methane from the ocean or the Arctic that would fry the planet, as