In a previous blog I expressed the hope that the Egyptian General's ouster of President Morsi would be a similar event to that which happened in Chile forty years ago. Hope in the sense that a military coup would hold the population in abeyance while a clean free market capitalist system similar to the what the "Chicago Boys" promoted in Chile would take root in Egypt. Apparently this hope came from ignorance. After reviewing a PBS Frontline hour on the recent turnover in Egypt it is apparent that the Army is the crony capitalist in charge and that there is no possibility of a change over to a subsidy free economy.
Abdul-Fattah el-Sisi, the future Egyptian President for life represents a stays quo that will devolve into a civil war. The pox on both the house of the generals and the Islamist is that they are not answering the economic issue bedeviling Egypt.
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