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Hosni Mubarak's Economic Achievements
Daily Finance ^ | 02/10/11 | JONATHAN BERR

Posted on 02/13/2011 7:47:03 AM PST by Ernest_at_the_Beach

Hosni Mubarak, who ruled Egypt with an iron fist since 1981, became synonymous with despotism and corruption. Despite weeks of recent protests, he refused to hand over power. But on Friday, Egypt's vice president announced that Mubarak was stepping down and turning power over to the military. While much of the attention has focused on Mubarak's dictatorship, most Americans don't realize that he'd actually won international kudos for his handling of the economy.

(Excerpt) Read more at dailyfinance.com ...


TOPICS: Business/Economy; Editorial; Extended News; Foreign Affairs
KEYWORDS: egypt
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1 posted on 02/13/2011 7:47:10 AM PST by Ernest_at_the_Beach
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To: Ernest_at_the_Beach

Yes, he handled the economy so well, that he gets to walk away a multi-billionaire, while most of Egypt dwells in tenth century squalor.

The pedophile pirate, Mohammed, owns much of the blame for this. As Winston Churchill said, “no greater retrograde force” exists on Earth.


2 posted on 02/13/2011 7:53:09 AM PST by Westbrook (Having children does not divide your love, it multiplies it.)
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To: Ernest_at_the_Beach
I'll make a flat statement: Mubarak was the best leader Egypt ever had. They were lucky to have him for 30 years. Whatever follows is going to be worse.

Like the Shah of Iran, the media has convinced us that this guy was a terrible, oppressive dictator. Well, what preceded him was worse, and what follows him will be worse. So maybe neither Mubarak nor the Shah were really bad.

The democratic revolution in Egypt? Look at the demographics: 90% of the women in Egypt have gone through female genital cutting. It is a radical, fundamentalist Islamic population. They have been held in check by Mubarak for 30 years.

Here comes the flood.

3 posted on 02/13/2011 7:54:49 AM PST by ClearCase_guy (BO + MB = BOMB -- The One will make sure they get one.)
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To: Ernest_at_the_Beach
Inflation was an astounding 12.8% in 2010. Corruption is rampant, and sweetheart deals are common. The country's education system has been such as disaster that businesses often hire foreigners, claiming that they are better trained than Egyptians.

Also, I don't think even these numbers would be this good if it were not for massive aid from the US and other nations. As to education, it seems to me that Islam does not want an educated population. Thinkers and Islam seems to be an oil-water thingie to me.

4 posted on 02/13/2011 7:57:41 AM PST by econjack (Some people are as dumb as soup.)
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To: ClearCase_guy
I agree. The Brits used to say that Arabs were either under your boot or at your throat, and I'll update it to say they are either under a dictator/king, or implementing the draconian Islamic agenda. Those seem to be the choices.

Something is terribly wrong with that whole culture.

5 posted on 02/13/2011 8:08:10 AM PST by A_perfect_lady (Islam is as Islam does.)
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To: econjack
From what I understand, a large part of the problem in Egypt is the fact that 92% of the people hold their property without legal property rights. It's worse than that, though, there are no real legal contracts, either, because the people don't own anything. Egypt's Economic Apartheid
6 posted on 02/13/2011 8:13:43 AM PST by Eva
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To: ClearCase_guy
Here comes the flood.

Correct.

I wonder if they will eventually blow up historical non-muslim cultural sites like the Taliban did. They see anything non-muslim as a religious threat that must be erased.

7 posted on 02/13/2011 8:23:43 AM PST by SteamShovel ("Does the noise in my head bother you?")
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To: Ernest_at_the_Beach

Just wondering- Where is Mubarak now or will he be found alive in dirt hole in the ground.


8 posted on 02/13/2011 8:31:43 AM PST by chainsaw
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To: ClearCase_guy

Exactly. Good post, and right on the mark.


9 posted on 02/13/2011 8:37:39 AM PST by rockinqsranch (Dems, Libs, Socialists, call 'em what you will, they ALL have fairies livin' in their trees.)
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To: ClearCase_guy
The U.S. gave Mubarak, that fat little mobster dictator $70,000,000,000 of our tax dollars....He's stuffed Swiss accounts with our tax dollars and is living like a God...

Our government's idea of foreign aid is to take from the poor in a rich country and give it the rich in a poor country...This has all but left America dead on the floor.

Our government is gang raping us!

Enough!

The world is not a homeowners associations and we are not the association president.

10 posted on 02/13/2011 8:46:14 AM PST by dragnet2 (Diversion and evasion are tools of deceit)
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To: Westbrook

All ME rulers are billionaires from their stints in office.

Mubarak actually was attempting to modernize and de-socialize the Egyptian economy, and his son was expected to do so much more aggressively.


11 posted on 02/13/2011 9:14:57 AM PST by livius
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To: Eva

The lack of clear title to property in Egypt (and probably many traditional societies) is indeed one of its biggest problems. There was some suggestion of creating a massive legal project to aid people in getting title to “their” property, or possibly even some sort of government declaration awarding title to certain lands as a starting point.

One of the other problems is that we are seeing only Cairo and hearing only about its problems; most of the rest of the Egyptian population is rural or lives in smaller population centers, and these problems are even more acute there.


12 posted on 02/13/2011 9:19:16 AM PST by livius
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To: livius
and his son was expected to do so much more aggressively.

I have no knowledge of that, so I cannot exactly agree (or disagree), but I will say that if Egypt were possibly transitioning to an even better, more enlightened, more Western leader, and if THAT was a contributing factor to the "democratic" uprising, it probably tells us a lot about what the "man in the street" was trying to avoid.

The Muslim Brotherhood may have switched into high gear because they saw Mubarak's son as a powerful foe. Isn't that a lovely thought?

13 posted on 02/13/2011 9:26:14 AM PST by ClearCase_guy (BO + MB = BOMB -- The One will make sure they get one.)
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To: livius

> All ME rulers are billionaires from their stints in office.

Agreed.

The next tyrant to occupy the presidential palace will likewise enrich himself.

However, I surmise that the new tyrant will be a Mohammedan fanatic and will turn the entire country back a thousand years, besides ramping up the unspeakably cruel treatment of Christians and Jews.


14 posted on 02/13/2011 9:26:26 AM PST by Westbrook (Having children does not divide your love, it multiplies it.)
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To: Eva

That is a problem around the world. We are blessed to live in the west where private property laws were established centuries ago.


15 posted on 02/13/2011 9:37:38 AM PST by Straight Vermonter (Posting from deep behind the Maple Curtain)
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To: livius

Thank you for recognizing his son Gamal. Gamal was western educated and believed that the government owned too much and wanted to see more capitalism!!! In fact, under his leadership in the NDP, Egypt was finally seeing a middle class being built within the private sector. This kind of thinking ruffled many feathers, especially those within the military.

Oh and don’t forget, if you want to talk about poverty.......Egypt is a socialist country! Wherever their is socialism there is a high rate of poverty!


16 posted on 02/13/2011 9:38:26 AM PST by panthermom
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To: SteamShovel

Well, the cult of demons called Islam will be irradicated lickidy split...after Jesus does his works upon his return.


17 posted on 02/13/2011 9:41:30 AM PST by fabian (" And a new day will dawn for those who stand long, and the forests will echo in laughter")
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To: panthermom
Egypt is a socialist country! Wherever their is socialism there is a high rate of poverty!

Exactly. And wherever there is socialism, there are political leaders who have accumulated way, way too much money. This is because all wealth passes through the government in a socialist society.

18 posted on 02/13/2011 9:49:58 AM PST by livius
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To: Westbrook

I fear you are right. I hope the Egyptians are enjoying their brief respite before true darkness falls.


19 posted on 02/13/2011 9:51:04 AM PST by livius
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To: livius

> I fear you are right. I hope the Egyptians are enjoying
> their brief respite before true darkness falls.

I pray that I’m wrong.

The people in Iran rejoiced to see the Shah leave, and they looked forward to a democratic republic, with freedoms for all.

But their joy was short-lived, for what they got in place of the Shah was a much, much worse tyranny, with repression and torture and murder and executions orders of magnitude greater than anything the Shah ever did.


20 posted on 02/13/2011 10:06:39 AM PST by Westbrook (Having children does not divide your love, it multiplies it.)
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