"Anti-government protests in Egypt have affected world financial markets, with US stocks suffering the biggest one-day loss in six months." Egyptian Unrest Has Repercussions in Global Economy Wall Street Journal (WSJ), January 30
The specific fear of oil price increases appears. Somehow, we're asked to believe that a new government might say, all of a sudden, no more United States ships in the Suez Canal.
"In the short term, the biggest global economic worry remains oil prices. Egypt itself isn't a big energy producer. But significant shipments of oil and petroleum products pass through Egypt each day on their way from the Mideast to European and U.S. markets." WSJ 01/30
There is absolutely no basis for this. Therefore, the fabrication is deliberate and ill intended.
Then the Journal trots out an expert who draws a conclusion based on the unproven hypothetical. Once again, there is no basis for saying that there would be any shipping disruptions. Why would a new Egyptian government give up that income or pick a fight with a White House with a record of military aggression?
"If oil shipments through Egypt were disrupted, European supply--and global prices--would be affected tremendously, said Dalton Garis, an associate professor in petroleum-market behavior at the Petroleum Institute, an energy-research center in Abu Dhabi." WSJ 01/30
The media is like a dog on point. They just can't give up the notion that we're headed for an oil shock.
"Apart from Egypt's role as an energy transporter, fear that unrest could spread to bigger oil producers could exacerbate worries." WSJ 01/30
Where is the information that would justify this fear?
Where is the explanation that accounts for this remarkable mass uprising?
Where are the questions about the three decades of neglect by several U.S. administrations?
When you support a tyrant who oppresses his/her people, you risk the antipathy of the people when they gain control.
Apparently, our ruling class hasn't paid any attention to recent history. For years, successive US regimes supported dictatorial rule in South America. The dictators are gone, left leaning governments are in place, and no one is lining up to punish the United States.
The real concern about change in Egypt is all about control. The elite of the US and Europe may encounter a leader who isn't in their pocket, doesn't care whether or not he or she is invited to Davos, and actually seeks the benefit of the vast majority of citizens rather than the crony capitalist network also known as the global economy.
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