The American Empire in a Changing World


Monday, November 26, 2012

''Egypt's Market Plunge, US Food Bank Drought, & Turkish Gold Trade w/Michael Krieger''

From'' Egypt's President Mohamed Morsi struggles to resolve a political crisis created after he granted himself new powers by decree on Thursday. The edicts sent tens of thousands of protesters and supporters into the streets, and today Morsi may have prolonged the showdown as he told the country's top judges he stands within his rights. This turmoil has also sent the Egyptian stock market plunging, with the largest drop since the Arab Spring uprisings in Egypt began. The benchmark stock market index plunged 9.6 percent, according to Bloomberg. Until recent events, the Egyptian market was the world's best performing exchange this year. We talk to Mohamed Hawary, a managing director at an Egyptian investment firm, about how instability in Egypt has affected foreign investment.

And is there any connection between protests in Egypt and a secession movement in Catalonia? The Catalan drive for independence from Spain grew as separatists saw gains in regional elections over the weekend. Is there a common economic theme underpinning unrest in Egypt, Spain, and the US? We ask Michael Krieger of Liberty Blitzkrieg if we are going to see more of this unrest in 2013.''

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