“Free Egypt” asks IMF for $4 billion emergency loan

Posted on May 18, 2011 by Fred Stiening

http://blogs.ft.com/rachmanblog/2011/05/egypts-economic-crisis/

Egypt has something along the order of a $12 billion government revenue shortfall. It’s much easier to topple a government than to run one.

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7 Responses to “Free Egypt” asks IMF for $4 billion emergency loan

  1. foyle says:
    May 18, 2011 at 10:38 am

    “Meet the new boss, same as the old boss”

    • Art Stone says:
      May 18, 2011 at 2:04 pm

      The 20,000 Egyptians not currently working in Libya add to the problems…. I read there is now a problem growing of refugees being denied entry into Egypt trying to flee Libya. Maybe Egypt should run a Benghazi to Italy ferry service

  2. Parrott says:
    May 20, 2011 at 2:01 pm

    Geesh, If Barack, cut me a check for a couple ‘mil’, he wouldn’t hear from me again : ) .

    • Art Stone says:
      May 21, 2011 at 8:08 am

      If he wrote every one of us a check for a million, everyone would be rich.

      • foyle says:
        May 21, 2011 at 9:39 am

        So believe millions and millions of public schooled Americans. They vote as if that were true every election.

        • TheChairman says:
          May 21, 2011 at 1:13 pm

          I wonder how many people can even write the figure of four billion (or trillion) with the proper number of zeros… or would understand the expression: 4.0 x 10^9

          • foyle says:
            May 21, 2011 at 3:36 pm

            I got lambasted on a self-described ‘conservative’ discussion forum a few years back because I pointed out that if the government gave everyone $1 million we would NOT be rich.

            I was shocked at how clueless people who actually work and pay taxes (and some who own businesses) were about how the monetary system works and the source of all government funds (i.e. taxes and/or debt [a/k/a future taxes]).

            Apparently even many “conservative” folks believe the government has a magic money tree.

            If working folks in the US are that ignorant of the financial system, then no wonder we are in such a mess and our “leaders” are able to continue to play bread and circuses with the masses.

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