Here We Go: Suez Canal Workers Go On Strike

Tyler Durden's picture

And here we go:

Suez Canal Company workers from the cities of Suez, Port Said, and
Ismailia began an open-ended sit in today. Disruptions to shipping
movements, as well as disasterous econmic losses, are expected if the
strike continues. Over 6000 protesters have agreed that they will not go
home today once their shift is over and will continue their in front of
the company's headquarters until their demands are met. They are
protesting against poor wages and deteriorating health and working

And just to make sure that there is complete confusion, here's Bloomberg with an earlier comment:

Egypt’s Suez Canal shipping traffic is operating normally, Mohamed Motair, director of companies at the Suez Canal Authority, said by telephone today.

Update from Reuters:

According to a senior canal official, Egypt's Suez Canal operating normally, strikes by companies owned by Suez Authority are not involved in Canal operations

Keep an eye on oil, which jumped on the news:

Source: AhramOnline

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slow_roast's picture

It would be awesome if they demanded payment in SILVER!


Jason T's picture

Like India did to the romans after the roman debased their money to base metals.  ..basemetals. better than paper.  

tmosley's picture

To my knowledge, India always demanded gold as payment for goods going to Rome.  This is likely the main reason that they never adulterated the solidus (their gold coin).  Since Rome never produced anything that was wanted in India except gold, those coins rapidly disappeared from Rome.

LowProfile's picture

No, he just knows more than you.

tmosley's picture

Yes, a real man spends much of his time in study, and on diverse subjects.  It keeps the mind sharp, and leads one to new avenues of understanding.

But you wouldn't know anything about that.

william the bastard's picture

You spend all your time posting about gold.

EscapeKey's picture

I must be in the fucking twilight zone. All I ever see is you doing is parade about your uninformed opinion with regards to gold, and yet you accuse tmosley?

quasimodo's picture

Give him a break, it's not easy when all you know how to do is post mind numbing drivel between sessions of jacking off. Don't forget wtb, mum needs to pick up more Lubriderm for you when she goes out for more Kools and Jim Beam.

Things that go bump's picture

Yeah, but you'd think with a handle like that he would know a little history.  

tmosley's picture

You must have a lot of trouble composing messages, which I suppose explains the brevity of your drive by troll posts.  Some of us are able to type quite quickly.  I spend maybe an hour a day composing posts at maximum (when composing a series of long posts during a debate), normally more like 15 minutes.  Zerohedge is a source for much of my study of economics.

But then, you wouldn't know much about study.

william the bastard's picture

Your anal retentive about always having the last word. You smug, self-righteous, pompous ass.

Dr. Porkchop's picture

If only your mind were as retentive, then perhaps you might be able to form a proper contraction.

tmosley's picture

You sure you aren't talking about yourself there?  You are the one who continues to reply with empty insults.

Groucho's picture

i think pee wee herman said it best "i know you are but what am i?"

Goldenballs's picture

tmosley is a Top bloke in my book,unlike the troll.

Jason T's picture

I checked where I read about india taking gold.. you are correct, they always demanded gold as payment during roman empire.

dearth vader's picture

Well, I wonder. What sources did you find? As far as I know, scarce direct contacts are known of between the Imperium Romanum and India, as "India" didn't exist in those days, apart from different kingdoms in the Indus valley. Trade depended on caravan trails, mostly.

New_Meat's picture

Asiatic Annual Register, 1801.  CHAP. II, 2nd page.

"Thus, it appears, the commercial intercourse between Rome and India was extensive and splendid; though the profits arising from it were certainly in favour of the latter nation.  For, as the Romans gave nothing but specie in exchange for articles of mere luxury, and as that specie could never flow back to them through any other channel.  It follows as a necessary consequence, that this trade must in some degree have operated as a drain on the national resources.  At the same time it would appear, from a variety of circumstances stated by Pliny, that the general wealth of the empire suffered little diminution from this branch of commerce.  And though it might have contributed to accelerate the progress of corruption among a degenerate people, yet, in a philosophical point of view it was ultimately productive of considerable benefit to mankind. ..."

- Ned

(them 50% off coupons at Borders pay off somehow or another)


Buck Johnson's picture

Sounds familiar doesn't it "Rome never poduced anything that was wanted except...", in the US case it would be debt, weapons and more debt.

the not so mighty maximiza's picture

The marines will take of it, in the name of Bernank.

Nepenthe's picture

google "operation brightstar"

We have been prepping for this for a long time....

Cleanclog's picture

Enterprise air craft carrier already in east Mediterranean and another "rescue"/attack ship en route.

LowProfile's picture

You meant "Operation Bright Star"

Try actually Googling your Google recommendations next time, mmmkay?

LFMayor's picture

You sure that's not Brave Star?  You know, fighting injustice on the planet of New Texas, through the might of the power of fire water.  Or something like that.


Pladizow's picture

Ssssshhhhh, Uncle Ben will make it all better.

tao400's picture

how can i get a blown up picture of your rack?

cougar_w's picture

I hope I can get a cut on their ad income today.

Rodent Freikorps's picture

If they are willing to die, they might actually accomplish something. Otherwise, they are just screwing the pooch.

gwar5's picture

Seen in the Suez:  "Will work for food"

In Fed We Trust's picture

Let me guess,


Organized by none other than Halburtan.

EscapeKey's picture

I hedge by buying NFLX.

hedgeless_horseman's picture

Brent back over $100 on the news.

H. Perowne's picture

TD already updated the post with this info. If you can't keep up with the conversation it's best not to speak at all.

hugovanderbubble's picture


I will load some GOOG for hedging SUEZ block¡


braveneweconomy's picture

Not a bad idea with the way this market is running. Now that the protest has broken up the market seems to have lit another fuse. 

StychoKiller's picture

New "twist" for the "death-spiral" fries:

US stocks posted gains on Tuesday on strong sales from McDonald's and other retailers, overshadowing the Chinese central bank's decision to raise interest rates. McDonald's shares gained more than 2 per cent after the fast-food giant said sales were up in January.


dick cheneys ghost's picture

reports of hosni mubarak going to germany for "medical reasons", more like exile

tmosley's picture

Does "not getting torn to shreds by an angry mob" count as a medical reason?

AnAnonymous's picture

reports of hosni mubarak going to germany for "medical reasons", more like exile


Well, well, the Egyptian tyrant might be on a different course.


Lets see: all these guys are paid to allow extraction of resources from their countries so these resources are allocated to building the West.

As a consequence, as those dictators work to empoverish their side of the world to enrich another side of the world (smithian economics), they do not invest their money in their country ( a place increasingly poorer and poorer) but mostly on assets based in the West (a place increasingly richer and richer). Dictators follow the logical course.


Trouble is that when they flee, it might be interpretated as they failed the West in the mission they were assigned to and as a payback, the West seizes the assets the dictators have located in the West, the place they contributed to improve.

Not sure that the Egyptian tyrant was to be punished by the West the same way the Tunisian Tyrant was and let a life of hard work go to the gutter just like that.

trav7777's picture

Nein.  It's all well and good to blame the west for income inequality in the 3rd world, but at what point does the fault lie with the dictators there who all retire megabillionaires?

I mean, shit, look at Hariri's kids...some of the youngest multibillionaires in the world.  The populace of those areas simply need to demand a share of the loot.  Why haven't Norway or Australia seen the same fate?

The US had its heyday when ordinary labor demanded a larger share of the profits of industry.  That trend has reversed...the west isn't really getting richer, it's getting hollowed out as we begin to resemble the 3rd world's income distribution

AnAnonymous's picture

Dictators in the 3rd world have income inequality with the West? That is a first piece of news.

They get very well paid to allow the transfer of wealth from their countries to the West.

In general, they are richer than the average person in the West.


randocalrissian's picture

Looks like I picked the right week to top off the 10,000 gallon underground gas tank in my back yard.

In Fed We Trust's picture

Can I buy a forward contract on some of that gas in your back yard?

DaveyJones's picture

we'll have to declare your yard a terrorist breeding ground