Tuesday, February 15, 2011

Egypt just deposed a leader...BUT will they be able to depose the REAL LEADERS in Egypt (oh, you thought they got the main guy, did ya'...)

Their authoritian leader has stepped down and the military has taken charge, but will anything really change?  He, or who, controls the nations productive resources is really in charge. I did not realize the extent the military in Egypt controlled the economy.  Those who are profiting from the status quo will not go down easy. This is an additional facet, and to me, a more complicated one than the political one that just took place. 

Egypt's military, an economic giant, now in charge

""It owns companies that sell everything from fire extinguishers and medical equipment to laptops, televisions, sewing machines, refrigerators, pots and pans, butane gas bottles, bottled water and olive oil.

Its holdings include vast tracts of land, including the Sharm el-Sheikh resort, where ex-President Hosni Mubarak now resides in one of his seaside pala-ces. Bread from its bakeries has helped head off food riots.

"It's a business conglomerate, like General Electric," said Robert Springborg, professor of national security affairs at the Naval Postgraduate School in Monterey, referring to the Egyptian military. "It's represented in virtually every sector of the economy."

So is what's good for Egypt's GE good for the country, now that the military is, at least temporarily, in formal control?

In a September 2008 classified cable recently released by WikiLeaks, U.S. Ambassador to Egypt Margaret Scobey wrote, "We see the military's role in the economy as a force that generally stifles free market reform by increasing direct government involvement in the markets."

The cable noted "the military's strong influence in Egypt's economy," with military-owned companies, often run by retired generals, "particularly active in the water, olive oil, cement, construction, hotel and gasoline industries." ""
Read the rest of the article HERE
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