There has been a considerable amount of attention on the new Muslim Brotherhood regime in Egypt. Some of that attention–not enough–has been focused on the inevitable decline of the Egyptian economy with the onset of Islamization. (Without enormous amounts of oil for foreigners of superior capability and intellect to exploit, every Islamist nation falls on hard times.)
In August, and again yesterday, we have reported on Egypt’s plans to borrow $4.8 billion from the IMF.
Of course, no one will ever get the Muslim Brotherhood to admit that the decline of Egypt’s economy may have coincided with their ascendency to power, which is in fact the case. Given time, we have no doubt that the Muslim Brotherhood can work the same magic in Egypt that the Taliban did in Afghanistan and Zia ul Haq did in Pakistan in the 1970s. Nevertheless, the Muslim Brotherhood has found a way to blame it all on…well, you know…”those Jews.”
Egypt has filed a report with the UN claiming that Israel owes it $500 billion for damage it inflicted on the Sinai Peninsula after the 1973 Yom Kippur War–a war, incidentally, that Egypt started and claims to this day that it won!
Among the absurd claims: Israel stole $50 billion worth of sand from Sinai…These are the reasonable people that Barack Obama lauds and supports?