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Monday, January 31, 2011

How 'Money Junkies' view Egypt

Today is Day 7 of the Egyptian protests.  The death toll is now over 100.  There's been wide reports of looting, over 60 rapes reported and at times, utter anarchy in the country, as politically there's still a lot of uncertainty as to what will happen next and how it will effect the people of Egypt and rest of that region.

The situation in Egypt is complex.  And if one was inclined to think about Egypt currently, there's many angles one could approach to better understand- the social angle, the historical angle, the religious angle,  even the political/geopolitical angle

To sociopath money junkies, only one 'angle' matters...

Egypt Shows that Risk is Alive & Well (CNN/Money) -- "Was Egypt only a one-day story for Wall Street?... so far Monday, it looks like traders are giving a collective sigh and going back to focusing on more mundane things like earnings and economic data."

Egypt Unrest Cast Dark Cloud over Investments (AP) -- "A week of growing upheaval in Egypt with no quick end in sight enflamed investor concerns, as a leading ratings agency cut the country's sovereign rating and warned other downgrades were possible. Some international companies suspended their operations"

Unrest in Egypt Unsettles Global Markets (NY Times) -- "On Wall Street, it is what is known as an exogenous event — a sudden political or economic jolt that cannot be predicted or modeled but sends shockwaves rippling through global markets.  Investors have largely shrugged off several of these unexpected developments recently, including the sovereign debt crisis in Europe, but the situation in Egypt has the potential to cause more widespread uncertainty..."

On & On & On... We could have posted dozens of similar headlines..

But This one was among the worst:

Five Ways Investors Can Play the Turmoil in the Middle East (CNBC)

Think about that..  how to 'play' or financially benefit off the turmoil and suffering of others.  This was written by Jeff Cox (appropriate name) and he basically decides that 7 days of chaos and instability in Egypt and its ripple effects throughout the Middle East and rest of the world, is a great profit making opportunity. So he gives 5 tips for navigating one's precious 'portfolio' to maximize profit during this unrest.

When you look at what has happened in the world over the last 12 months- the European Union's debt crisis, the protests/demonstrations in Greece, Italy, Spain, France, England, Tunisia and now Egypt, etc,  most people only are concerned if it affects the stock market; their investment portfolio.  If a world event doesn't affect their finances, people shrug.  And if it does affect them economically, the goal is to figure how to financially benefit from it.

Wall St. decided today that Egypt was to be ignored- it went up 68 pts...

Some people are good.   Some are evil.

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