Egypt on the brink of revolution? Inflation the culprit.
Demonstrators have poured onto the streets of Cairo and brought the city to a stand still. Reports suggest that hundreds of protesters have clashed with police over mounting concerns of corruption. Several fascinating things have happened over the past few days. First, two days ago a giant gold shipment was intercepted at the Egyptian airport. This raised speculation that the ruling class is preparing for an exit strategy a-la Tunisian president Ben Ali. Secondly, there have been online calls of solidarity for an Egyptian revolt organized on Facebook/Twitter . The protests coincided with a national holiday honoring the country's much-feared police. In another parallel with the Tunisia protests, the calls for rallies went out on Facebook and Twitter, with 90,000 saying they would attend As of today, we have learned that the Egyptian government has taken steps to snuff out organization by restricting online communication. According to Zero Hedg...