Egyptian Stocks Plunge 9.6% As 'Islamofascism' Rises; Clashes Escalate

Tyler Durden's picture

Egyptian stocks cliff-dived by their most since the Arab Spring in January 2011 as Morsi's reach-for-omnipotence sends concerned ripples through the nation that they have replaced 'military fascism' with so-called 'islamofascism'. Tensions are rising once again in Tahrir Square, but as Russia Today notes in this clip, the new regime is somewhat more heavy-handed than the previous one in its control of protesters. Critically, the Musilm Brotherhood's opposition forces, who have been quite divided recently, are joining to fight the common enemy as clashes between pro-Morsi and anti-Morsi forces are erupting. Perhaps just as worrisome as the social unrest is the fact that Egypt's Stock Exchange Director Said Hisham Tawfiq fears "Egypt announces bankruptcy within 3 months in the case of the continuation of the current situation," though we note Egypt CDS are near 16-month lows.

The EGX50 dropped a massive 9.5% today as markets are stunned my Morsi's move...


and from Russia Today:

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Yellowhoard's picture

Choose your brand of fascism.

The whole world is Balkinizing into fascist camps.

Soon, we'll get to see who is the toughest fascist on the globe.

knukles's picture

How's that Arab Springie thingie workin' out for ya'll?
Go ahead, make my revolution....

LoneStarHog's picture

Y'all ... not ... Ya'll ... Contraction of You All

knukles's picture

Don't wish for what you might not want, etc....

Congrats PTB, ya'll got your Permanent Enemy for the "Long War"

strannick's picture

'Islamo facism' is redundant

Earl of Chiswick's picture

No no no no

Mo is only doing this according to the MSM propagandists to help isolate Iran, he is actually a nice fellow and the President is confident that this is only temporary.  It's all about Iran.

Rathmullan's picture

"Viva Hate" was replete with some edgy and violent lyrics but I didn't think Steve the violent dicktater type

moonstears's picture

I think knukles' post at 13:09 was a subtle "fuck you, Hog". I love this place!

midtowng's picture

It was a leftist revolution in a very conservative country. Naturally the majority of people, who never worked to get rid of the dictator, voted in another dictator.

That doesn't mean the revolution was wrong. Just that many people don't deserve, or want, freedom.

Incubus's picture

That doesn't mean the revolution was wrong. Just that many people don't deserve, or want, freedom.


The same thing will happen here, or in any other country, given the poor state of the general population and their overall inability to make proper decisions regarding matters that directly influence their lives;  try to talk politics with anyone and they're all offensed that you should even bring up such a matter.  Nevermind the fact that politics and philosophy are at the very core of everything in our lives. 

Be polite, smile, make small talk, and get bent over and fucked by your "leaders & bosses."


People are reactionary animals.  They'll vie for some great change and haven't a fucking clue about what it is they want to change to. 

Get drunk on your revolution rhetoric.  It's more of the same shit.  The thing you'd do well to realize is that society is a joke.

Silver Bug's picture

Hold on to your seats boys and girls. Were in for a bumpy ride.

Chuck Walla's picture

Obama did it and not a whimper!



DosZap's picture

Egyptian Stocks Plunge 9.6% As 'Islamofascism' Rises; Clashes Escalate

Just what "THEY WANTED", and HE got it.

One more down, Libia, Egypt, who's next?.

13thWarrior's picture

Iran, Pakistan, Indonesia, Malaysia

CheapBastard's picture

Morsi's Motto:

"Never let a crisis go to waste."


Morsi is a Rahm devotee.

davidsmith's picture

Lincoln waited and had Congress ratify everything he had done, but it's the same theory: facing an emergency, the President has emergency powers.  Interestingly, Lincoln also faced subversive judges, always the last bastion of the ancien regime.  Roger Taney caused him all kinds of problems, and he wound up simply ignoring Taney's orders and any court orders obviously sympathetic to the Confederacy.  However, Morsi should say that his actions pursuant to the decree will be put up for ratification by whatever legislative body emerges.  Without a legislative resolution of support, you have problems.  That's why the Supreme Court refused to ratify Truman's seizure of the steel mills: Congress condemned it.  If Congress had ratified it, the Court would have upheld it.

WTFx10's picture

WHO fucking cares! stfu

Eireann go Brach's picture

Can we please send the members of congress into Tahir Square for a few days, because what a sight it would be to see Pelosi and Boehner etc being chased by savages wearing tin hats looking to beat them to pulp with their rocks and bats!


Everyone in America

tooriskytoinvest's picture


BREAKING: Israel may Strike Ship with Iran Missiles En Route to Gaza. US Carriers Position off Iran Coast. Nex-Gen Iron Dome Tests Underway

Rat Patrol's picture

Iran knows they have nothing to fear until they see us suddenly pull our carriers out of the gulf.

Ima anal sphincter's picture

The report cites Israeli intelligence sources who surmised that the cargo....

And you believe this crap?????? Pure frickin propaganda. Please man...... see it for what it is and break from the herd.
Imminent Collapse's picture

Not to worry. All rights will be restored after terrorism is defeated.

Seize Mars's picture

Strange. The locals are ungrateful for America's next installed dictator.

knukles's picture

Think they own their own country or somthin'...

A Nanny Moose's picture

They will have Demockracy. They will like it, and they will beg for more.

Rainman's picture

Looks like the gubmint masters really fukked up when they ended 30 years of emergency powers ( 5/31/12 )

knukles's picture

My oh my, them emerging MENA stocks sure look cheap....
Time to back up the camel...


(throw in an additional 100 shares of Omar the Tent Maker for good luck.... who brought the books to burn?)

DanDaley's picture

If you're backing up the camel, be sure not to load up on straw...that can be dicey.

Joebloinvestor's picture

Get elected and then with the help of the US, declare yourself KING.

The joke was definitly on the "Brotherhood" and Egypt.

I am waiting for "dissidents" to start vanishing.

williambanzai7's picture

I think that guy is Hilary.

disabledvet's picture

I thought it was "twitter square" now? anywho this is a THEOCRACY not an "islamo fascism" anti-God thing. these actions are done IN THE NAME OF GOD...not in spite of Him. (plumb the depths to secure advantage if you like. I would argue a Christian faith says ALL OF IT is wrong.) the propaganda not relating to the seriousness of it all reminds my of Hitler's "phantom divisions" if the lie somehow creates a "greater truth." i do find it interesting that the latest b.s. concerns "Egypt being the great peace maker" actually. I'm sure President Morsi finds this rather humorous at a certain level...though certainly he is being made a winner either way. When the goal is to create a story line first folks don't be surprised if the facts come up in surprising ways as well folks. Needless to say the "whitewash" doesn't work too well over there. We'll see if we're heading into "Intifada 3.0" or not relativey soon. Here's an historical primer which i am sure the Egyptian Cabinet has been reviewing for some time: These folks aren't stupid people. I remember playing chess with "some third world types" and they used to beat me ROUTINELY in 25 moves or less. (it was rather frustrating i must i don't consider myself a stupid person.) "the dumbest person is the one who doesn't take the threat seriously" of course. i would say a...."cease fire" process has started...which is more than can be said of the last four years. i will be watching closely to see what comes of it.

BlackholeDivestment's picture

People that accepted the Vote 2 Party 666 in the United States and in Egypt are antichrist Hell Bound scumbags. On their way down, to realize their graven image, we all get to suffer.

lakecity55's picture

Hey! I read all about this. I think it was a book called "Reveal."

No, Revelations. Yeah. That's it.  Got to find a copy.


O'Twinkie looks up from his Sports Page:  "Who... who are you."

(Hank Kissinger voice: "I am the one you have prepared the way for. Prepare to be assimilated."

O'Twinkie: "Uh, what? (offers pack of Kools and lighter). "Light? Smoke?"

"Not yet."

vote_libertarian_party's picture

Whew, good thing that Egypt thingy is fixed.


buy buy buy

disabledvet's picture

well...sure, "cease fire process" is a far cry from a peace process...i agree. still...believe it or not "it is an improvement over the last four years." in case you were wondering what that was:
ah the fool who tries to separate personal ambition from the goals of the organization in general...

q99x2's picture

That seemed pretty peaceful to me. There were US demonstrations a lot worse than that. But then the US outlawed demonstrations.

Banksters's picture



Being hit with made in the Usa tear canisters should help with the government's image. Usa!

Urban Redneck's picture

The old Chinese models were more effective for crowd control, they used high explosive as a propellant.

Seize Mars's picture

Regarding the Anglo-American Empire, I do believe this is absolutely unprecedented: that is, the Empire that isn't aware that it's an Empire, and the sheer number of British and American serfs and slaves who are unaware that they are serfs and slaves. ("What? America installed that new guy in Egypt? That sounds pretty far-fetched.")

More and more people are waking up, that's for sure, but many don't even know.


Atomizer's picture

Amanpour speaks with Secretary of State Hillary Clinton about Egypt.


Ring, ring

Hello, Hillary speaking

Good evening Mrs. Clinton, why has our specific press release briefing gone so wrong?

I did my best in presenting your press release bullshit, why don’t you tell me how it fucking failed?

I don’t like your tone Mrs. Clinton. As you know, it’s been the Bush, Clinton, Bush dynasty. Perhaps you should just shut the fuck up. Tell everyone your just tired. Jeb Bush will be running against you in 2016.

Just remember the long term Central Banking plans, your fate in helping us excel the doctrine may decide your 2016 Presidential outcome.

[Click] Disconnected call

Hillary, Hello - Hello 

This is how they think & behave under public servant euphoria drugs. When bullets rain down, they will declare their actions were performed under blackmail and family death threats. Neither excuses will be found to be true.

Banksters's picture

A 9.6 percent drop means they've lost $178.00.

loveyajimbo's picture

Hopefully they will give this guy a vicious beating everyday for a month, then wrap him in a freshly slaughtered swine skin and hang him upside down... would be a good warning for other delusional pocket dictators who usurp a nations Constitution, coverup crimes and lie like thieves.  Anyone come to mind???

virgilcaine's picture

Truce = Timeout to reload.

virgilcaine's picture

I believe the Morsi regime forgot to tell the Mubarak holdovers they were in charge. Could be a problem.