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Generational Dynamics Web Log for 12-May-2011
12-May-11 World View -- Austerity riots in Greece

Web Log - May, 2011

12-May-11 World View -- Austerity riots in Greece

Egypt faces starvation as economy collapses

This morning's key headlines from GenerationalDynamics.com.

Austerity protesters clash with police in Athens, Greece, during nationwide strike

Exploding petrol bombs during clashes with riot police in Athens on Wednesday

Exploding petrol bombs during clashes with riot police in Athens on Wednesday

Police clashed with protesters in Athens and Thessaloniki in Greece on Wednesday as 20,000 people participated in street protests against a new wave of austerity cuts. When Greece received a bailout one year ago, Greek Prime Minister George Papandreou confidently assured the people that the austerity measures announced at that time, in combination with the bailout, would solve Greece's debt problem, and no further austerity would be required. It's now evident that (a) Greece's debt problem is NOT solved; (b) Greece needs another bailout; (c) Greece will have to impose additional harsh austerity measures; but (d) the new bailout and new austerity measures will STILL not solve Greece's debt problem. Reuters

With protests continuing, Syria threatens Israel

With large protests continuing in cities around Syria, president Bashar al-Assad is considering two strategic choices to remove the pressure from his administration: Going to war against Israel, and/or sending weapons to Palestinians and Israeli Arabs for use in terrorist attacks against Israel, to foment an armed uprising against both Israel and Palestinian Authority president Mahmoud Abbas. Hamas' political leader Khaled Meshaal is relocating from Damascus to Gada, providing Egypt with the opportunity to play a more active role in the Palestinian arena, and providing Assad with a conduit for weapons transfers. Debka

Egypt faces starvation as economy collapses

Cairo stocks, 11-May-2011

Cairo stocks, 11-May-2011

Egypt is the most populous country in the Arab world, and imports half its wheat. But the country is showing all the symptoms of national bankruptcy and hyperinflation, and distribution of food supplies is being disrupted. The Ministry of Solidarity and Social Justice is already forming "revolutionary committees" to mete out street justice to bakeries, propane dealers and street vendors who "charge more than the price prescribed by law," as if that will work. Half of Egyptians live on $2 a day, and that $2 is about to collapse along with the national currency. At the rate Egypt is losing foreign exchange reserves, the country will be broke by September. Asia Times

Proposed defense bill authorizes clandestine cyberspace operations

A version of the fiscal 2012 defense authorization bill contains language expressly permitting the Defense Department to conduct clandestine cyberspace operations outside of the United States in support of military operations. Fierce Government IT

U.S. Postal Service to go bankrupt by September

The U.S. Postal Service lost $2.2 billion in the most recent quarter. "Snail mail" has been getting less popular, as mail volume has spread to e-mail. Total mail volume in the last quarter fell to 41 billion pieces, from 42.3 billion in the same period last year. However, expenses have been rising as well, especially prepaid retiree health benefits. The service will run out of money by September. CNN

(Comments: For reader comments, questions and discussion, see the 12-May-11 News -- Raj Rajaratnam conviction raises hopes of Pecora Commission revival thread of the Generational Dynamics forum. Comments may be posted anonymously.) (12-May-2011) Permanent Link
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Generational Dynamics Web Log for 12-May-2011 12-May-11 World View -- Austerity riots in Greece

Austerity protesters clash with police in Athens, Greece, during nationwide strike

With protests continuing, Syria threatens Israel

Egypt faces starvation as economy collapses

Proposed defense bill authorizes clandestine cyberspace operations

U.S. Postal Service to go bankrupt by September

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Generational Dynamics Web Log for 12-May-2011
12-May-11 World View -- Austerity riots in Greece