EGYPT in Deep Trouble - Bread Prices Quadruple as $8 Billion IMF Loan Conditions are Implemented

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Egypt is one of the largest consumers of bread in the world and it is a key source of nutrition for the poorest parts of the population. Egypt has been in FINANCIAL CRISIS since Russia's invasion of Ukraine resulted in the price of commodities such as Oil & Wheat to Skyrocket. Egypt is a NET IMPORTER and has a negative Balance of Trade. The country is short of US DOLARS and imports recently stopped as the country was unable to pay meaning that it was facing potential BANKRUPTCY. Egypt recently agreed an additional $8 Billion Loan with the IMF however this loan comes with associated conditions and the government has now increased the price of subsidized bread by 300%. In this video I provide more details of the situation and discuss what is likely to happen to Egypt.
For specific details please check out the CHAPTER list below.
Thanks for watching and please LIKE and SUBSCRIBE.
Chapters:
0:00 Intro
2:50 BREAD
6:15 BREAD SUBSIDY
7:44 WHEAT PRICES
8:31 IMPORTS
9:06 BALANCE OF TRADE
10:34 EGYPTIAN POUND
13:02 INFLATION
15:36 IMF DEBT
16:41 SUMMARY & CONCLUSION
#egypt
#ukraine
#russia
#imf
#uae
#GLOBALFINANCIALCRISIS
#RUBLE
#SWIFT
#RECESSION
#CHINA
#USA
#NATO
#WW3
#WORLDWAR3

[@EricaWaters-lr6zw]

Our economy is struggling with uncertainties, housing issues, foreclosures, global fluctuations, and the pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

[@BrianAlbert-hh3pi]

With the US dollar losing value to inflation and other currencies gaining traction, uncertainty looms. Yet, many still trust in the dollar's perceived safety. Worried about my $420,000 retirement savings losing value, I seek alternative security for my money.

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[@ChloeCarter-kd7gz]

This is definitely considerable! Do you think you could suggest any professionals or advisors I can get on the phone with? I'm in dire need of proper portfolio allocation.

[@BufordTGleason]

The days of growth benefiting enough of the population to raise the standard of living is over and has been since 2008. As things progress fewer and fewer people will benefit. Low unemployment is good, but it’s hard to see that when similar type jobs of today can’t afford what they did five years ago like an apartment and a vehicle. Most of the rise of the stock market has been due to Covid money funneled to businesses that were then used to buy back their own stock, Not used to help employees and not reinvested. All this helps keep the stock artificially inflated….for now

[@karlgrimm3027]

Mabey should not have spent billions on a new capitol city in the middle of the desert.

[@PortsladeBySea]

It was an utterly crazy decision 🐫☀️🥴

[@damocles8417]

You know what this is? It’s sand! You know what it’s going to be 100 years from now? It gonna be sand!

[@RazielDeTam]

That's okayish decision. The population is going up every year, every big city is overpopulated and they need new homes. Build new city or send couple millions people to EU😅 Egypt choose first

[@Iskandar64]

For much of the past 5000 years Egypt was the literal breadbasket of the Mediterranean as a net exporter. For that reason it became so important to the Roman Empire and one of its wealthiest provinces. Now they are a net importer. Nothing good can come of this.

[@LOUNGELIQ]

Yes, but the population of Egypt at the time of the Roman Empire was 4 million, today it's 104 million.

[@llamaboss1434]

They 30x their population last century so whatever. They need to lie in the bed they've chosen to make for themselves.

[@williamdavis9562]

Obviously they are a net importer of food. They simply don't have anywhere near the amount of arable land needed to feed 104 million people. Math.

[@sargepent9815]

Last time this happened, it triggered the "Arab spring"

[@mido3ds]

Last time it was the police that supported the regime. Now it's the military. Plus egyptians are super divided politically, very low trust. We're doomed.

[@MrEddieLomax]

The root cause of Egyptian economic problems has not been mentioned here. I would describe the problem as population growth, every 30-odd years their population doubles, therefore the economy must double too. If the economy does not double then Egypt will collapse.

[@nathanruben-tv5lf]

Population is power if it is managed. Sisi is thief, it is as simple as that.

[@JayBee-hk7ej]

Also their patriarchal structures, they switched off 50% of their population (women) to contribute to the economy while screwing babies into the existence which they then can't feed.

[@annemoore4461]

I was a stay at Home mom with no money in my IRA or any savings of my own, which was scary at 53 years of age. Three years ago I got a part time job and save everything I make. After 3 years, I am 56 yo and have put $9,000 in an IRA and $40,000 in my portfolio with CFA, Abby Joseph Cohen. Since the goal of getting a job was to invest for retirement and NOT up my lifestyle, I was able to scale this quickly to $150,000. If I can do this in a year, anyone can.

[@ellaaysun6181]

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[@NaomiVardy-oe5rk]

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[@ellaaysun6181]

Her name is 'ABBY JOSEPH COHEN SERVICES'. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.

[@emmabeyza6036]

Been debt free for two years thanks to Abby Joseph Cohen Services. So sad to see my friends in their 40s with car loans, mortgages and credit card debt.

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[@rlocone]

Also, Egypt is getting fewer shipping/port fees due to the Hoothie attacks.

[@jrgentobies2510]

I wunder what the Egyptian government had said to there Arabic brothers in Yemen due to the attack on ships in the red sea

[@sallywilton2236]

@@jrgentobies2510 they are shias. Egyptians are Sunni

[@FrozenOxy101]

And the Hoothies are a proxy of Iran, Iran is amassing a sizable legion of proxies, Hamas, Hizbolah and now the Hoothies. It's just Muslims fighting each other all over again. The middle east will not be settling down anytime soon.

[@williamdavis9562]

@@jrgentobies2510 The Egyptian dictator and his gang won't utter one word without permission from their handlers in Tel Aviv and Washington.

[@RyanHellyer]

I was in Egypt last year, and was really surprised at how incredibly cheap everything was (for me). It was also obvious, that the country has a lot of endemic problems which won't go away any time soon. I suspect the biggest change they need in the country, is just to improve the education system.

[@ZontarDow]

American soldiers deployed to the base the US has in Egypt have consistently noted that American field rations are better then what Egyptian soldiers get served in their mess halls.

[@sallywilton2236]

It’s corrupt, it’s a dictatorship, it’s a police state, it’s a military coup state, there are NO opportunities for anyone The problems of Egypt are too too many to list. Lack of education is not especially important in comparison with the horrors of Egypt.

[@mitchelgreen891]

There’s simply too many people in a country too small to support them all. This will only end in a dramatic catastrophe

[@fernandoalegria4240]

Religion

[@fernandoalegria4240]

CORRUPTION!

[@bryanhewson7870]

Egypt, once known as the bread basket of the Roman Empire …

[@stevenschwartz-vf2lg]

Yes. But the Romans knew how to run an empire then and used a huge amount of slave labor.

[@2livenoob]

Then the Arabs came, erased its identity, language, and policies with Islam and it hasn't useful since.

[@jamegumb7298]

@@stevenschwartz-vf2lg Back then they were not yet known as slaves though, not enough Slavs serving yet.

[@donaldkasper8346]

The Empire was quite small in terms of population. Did not take a lot to feed it. Then over in Islam polygamy, 8 kids per family, yeah, shortly in a few generations, starvation controls the population.

[@Bareego]

The main issue here is just the sheer increase of the population outstripped any kind of food production along the nile and it's delta.

[@efilhgih]

Egypt is not a poor country it is a failed state.

[@sallywilton2236]

It’s poor and a failed state

[@andrewallen9993]

Well it is Islamic and has no oil.

[@mitchelgreen891]

@@andrewallen9993the problem is that 110 million people live in a country the size of Colorado, who only live on the Nile river and a few oasis

[@andrewallen9993]

@@mitchelgreen891 So away better off than Singapore then in terms of population density/resources?

[@sialababamak537]

​@mitchelgreen891 And whos fault is it?

[@Astronist]

Three words missing from this otherwise illuminating post: New Administrative Capital. Apparently this construction project explains a lot about Egypt's current problems.

[@sallywilton2236]

It’s part of the problem but you need to look at who and why it was built. There is a vain dictator in charge who is beholden to numerous generals and cronies who want their cut. It won’t change without external forces coming in. They have lots of tanks, planes and guns to keep the people in fear of coming onto the streets. The IMF should stop supporting them

[@cheninblanc8208]

jacking up bread prices is an excellent way to cause street riots...... 🤔

[@markusgorelli5278]

This isn't jacking up. This is allowing the bread prices to rise to the current market rate as it had been artificially held down with subsidies for ... maybe decades? It has reached a stage where the government can't afford it anymore and then you get a rip the band-aid off situation which is very painful.

[@ursodermatt8809]

once you subsidize food, it will not have a happy ending, period.

[@alexandru5369]

yep subsidizing food, especially , staples like bread is the ultimate example of kicking a can down the road It prolongs and increases a problem albeit slowly

[@allanchapman7986]

Where were the other BRICs nations to help them out?

[@howiescott5865]

They're too busy dethroning the US Dollar... 😂😂😂😂

[@odenat3701]

At the same place where EU countries were when Greek economy collapsed.

[@maggotman2024]

The world’s tallest flagpole and biggest flag come at a price.

[@missinglinq]

I've have a huge pig on my dresser I feed my pocket change. It must have $400 by now (40,000 pennies). The fact I could buy 40,000 Egyptian families a loaf of bread, with my piggy bank, is shocking.

[@drewsachs6238]

Its what they mean when they say a single billionaire could end poverty

[@mfallen2023]

Until you've traveled to poorer parts of the world it's almost impossible to understand just how good we have it in the west. Even the poorest areas of the US live well compared to wold poverty standards... We have overweight homeless people in the west for god's sake.

[@Anonymos321]

​@@drewsachs6238: Which would work only theory.

[@lenaisx]

The true price is probably 1,500 loaves of bread for your $400. Creditors pay the difference.

[@Muzakman37]

@@mfallen2023 Absolutely concur with this. I lived in Egypt for some years and the country would completely collapse without these unaffordable subsidies (certainly on food staples). Nearly every damn thing is imported to feed and sustain a country with an utterly unsustainable population of well over 100 million (who all live in about 5% of the largely uninhabitable country). The fact there *hasn't* been an epic collapse of Egypt as any kind of entity is a miracle.

[@kennethramlal8558]

They used money to build a new city.wasting money.why gave them money

[@sallywilton2236]

Exactly

[@user-dv2no2kz1x]

The reduction of shipping through the Suez canal must be hitting hard as transit cost for a large container vessel is around half a million dollars .Wasting money billions spent on building the new Cairo city and Egyptian pharaonic theme park.

[@sallywilton2236]

The bottom of their list is feeding the population. They have to provide first for the billionaire elites

[@user-yd8dw4js6s]

Water is being shut off for 5 hours a day, electricity is being shut off for 5 hours a day, wages have been decreased, internet is being cut, prices for everything is being jacked up 300%. Please do a video on this! We need to spread the news. My girlfriend is out there and all the stores are out for water and they have to put water in buckets. They let Sudan immigrants move in and they basically evicted Egyptian residents for Sudan immigrants. All the trees have been cut down. It's horrible. #freegypt

[@kieranh2005]

So it's not just western countries that's happening in. Interesting.

[@TheRst2001]

Egypt food subsidy should be on condition of birth control in the country . Its like giving a gambler un unlimited credit loan

[@nanonano2595]

thats like the least of their current problems

[@milesinnz]

birth rates are falling but the damage has already been done...

[@sallywilton2236]

Don’t blame Egyptians. They are victims of a terrible dictatorship

[@milesinnz]

@@sallywilton2236 whose dictatorship is then .???

[@mido3ds]

​@@sallywilton2236Millions of egyptians supported Elsisi, especially during like his first 7 years. And publicly called against democracy and said we need a strong leader that uses force. Some even went to streets to dance to support him. Yes we show support by belly dancing. And many of his opponents did some stupid shit-ass-fuckery during 2011-2014 that resulted in him seizing power. I'm egyptian and can say many of us totally deserve this.

[@KuriosDiogenesJar]

Egypt looks like a country that could do well from solar energy replacing oil.

[@sallywilton2236]

Irrelevant

[@KuriosDiogenesJar]

@@sallywilton2236 Not importing oil would improve the balance of payments in a country that has too much Sun and heat. It might do more for the standard of living than a new Capital city and an over armed military. Joe Bloggs mentioned oil imports.

[@sallywilton2236]

@@KuriosDiogenesJar Egypts problems are absolutely nothing to do with these small issues. It’s a military junta government that is crushing the people. I wish folk would stop looking for things to tinker with like bread or oil and consider how to get rid of a military dictatorship instead. Because the longer it continues the bigger the problem when it all collapses.

[@sallywilton2236]

@@KuriosDiogenesJar who decided to build a new city? Do you think there was a vote on it?

[@KuriosDiogenesJar]

@@sallywilton2236 Sally Wilton for President of Egypt.

[@gerardvanwilgen9917]

"We just rely on God". Perhaps that is part of the problem.

[@DrMarkyMark]

Egypt is building a new city with China. Egypt is also close to Russia. It should reach out to these wonderful BRIC countries. Maybe they and also ask South Africa for help.

[@madarah8533]

​@@DrMarkyMark yeah just give suez canal to china

[@mfallen2023]

@@DrMarkyMark Oh man, Egypt accepted the Belt & Road debt trap?! They're doomed... How the US didn't step in to stop this is beyond me. Just gonna let China have major influence in the country where the Suez is located... So dumb

[@markusgorelli5278]

But Moses told the people, “Do not be afraid. Stand firm and you will see the LORD’s salvation, which He will accomplish for you today; for the Egyptians you see today, you will never see again. The LORD will fight for you; you need only to be still.” Then the LORD said to Moses, “Why are you crying out to Me? Tell the Israelites to go forward. - Exodus 14:13-15 lol.

[@Sir_Godz]

@@DrMarkyMark lol but yes actually

[@nikolay5269]

Look at the population growth over the last 100 years, it’s mindblowing. No idea how this will end, not good probably. They will try to export people, who will take them? Maybe they should try to reduce this increase?

[@flyhi2773]

Well, that’s global. A mere 250 million or so for thousands of years up until 1600, when wood, cow dung and wind accounted for most of our energy consumption. By 1900 it had grown to 1.5 billion, coal now being the greatest source of energy. 2.5 billion by 1950, oil now very much contributing to energy consumption the population explodes, 6 billion by 2000, 8 plus billion today but we’re now consuming resources, especially oil, at an unsustainable rate with no viable replacement. It spells collapse, over shoot, and soon.

[@jasonnugent963]

Great video. I stream KZbin through out my day to keep up on a variety of different world events,. ,and JoeBlogs is 1 of my "daily views". Always appreciate the thoroughness you put into the data and information.

[@stevefanslow3530]

I feel the same way , also like he covers current events not always in the news.

[@davidc1878]

16:23 I think the knee-jerk criticism of the IMF is really just by uninformed people who don't really understand the role it has played in a globalized world. I'd love to see what those critics would say if the IMF suddenly just stopped lending money as many countries' economy would instantly implode under hyperinflation. Love the channel!

[@xman7695]

Yeah, but some rules like opening business sectors or reducing tariffs and so on did hurt the domestic industry in these countries and crippled their industries. It's not wrong per se but some of these countries didn't have much of an economy to begin with leaving them at the mercy of the IMF for years.

[@fulconerra3055]

There are too many people living in the area, even if IMF would loan 800B they would have to hold up their hand again. IMF should demand a maximum number of children per capita to make the region viable again.

[@chelseaananda2831]

I hate to tell you, but those small round loaves are full of air…. They have just been cooked and flatten into a bread like Roti.

[@Digmen1]

Tell Egypt to pay back the money they owe the IMF already!

[@tallskin]

the population of egypt was 111 million people in 2022. It has 4.03 million hectares of agricultural land. By comparison the UK has a population of 60 million and an agricultural area 17.0 million hectares. Time to use contraception boys and girls

[@cantiaci]

Your conclusion is sound but your stats are not. UK population is almost 68 million and in the 2 years since the 2022 figure Egypt's population has grown by another 3 million people to 114 million.Whether that increase is purely attributed to natural childbirth and increasing longevity or whether an influx of refugees are included in that figure I don't know. Either way that is an awful lot more bread to bake every day.

[@PortsladeBySea]

Is free contraception available and encouraged in Egypt? 🇪🇬👶🍼

[@kieranh2005]

Actual population in the UK by food purchases, nhs use and sewerage flows is closer to 90 million. There's a lot of illegal aliens on that little island.

[@cantiaci]

@@PortsladeBySea There are heavily subsidised contraceptives available in Egypt but if the poorest in society are struggling to find 20 piastres for bread they are unlikely to be able to afford 10 piastres for a single condom. More permanent solutions like the coil cost around 2 Egyptian pounds that would have been 40 days worth of bread before the increase, now 10 days worth.

[@JayBee-hk7ej]

I'm baffled how everyone meticulously avoids to mention the patriarchy and its religions as a direct cause for overpopulation with inadequately fed and educated children. Who do you think calls the shots in a Muslim family on s*x and child planning, contraception included?

[@kentvaske5213]

s of June 14, 2024, the Canadian government advises exercising a high degree of caution when traveling to Egypt due to the threat of terrorism

[@KNByam]

What's shocking is there's a stat for bread consumption.

[@bobhill-ol7wp]

Why?

[@johngibson3837]

The bread in Egypt is extremely nice a lot better than here

[@susannehartl3067]

No really. Generally, bread is quite important in the region's cuisine.

[@morrispowell1524]

The pyramids were built on Beer and Bread.

[@guiwhiz]

It is a key metric for the United Nations, et. al. to gauge the poverty in a populace. Bread (the original 'processed' food) is what the poorest can afford that provides the most calories. Tracking consumption is key particularly for countries whose economy has a large 'shadow economy' aspect (meaning transactions are all cash or even barter) denying good data on incomes.

[@chrischristenson4547]

Is the paying back of the IMF loan just a delusion. What project could Egypt develop that could grow its economy.

[@sallywilton2236]

Get rid of its military junta government. That’s a good project

[@chrischristenson4547]

@@sallywilton2236 military juntas are usually a bad idea. In Egypt's case, they need revenue 1/2 of the Suez Canal income is gone thanks to the terrorist attacks in the Red Sea. They only grow 1/2 of the wheat required to feed the public and Russia increased the price of wheat with it Ukraine mess. They are making noise about the GERD dam Ethiopia, that hasn't cost them water as a distraction. They have high inflation and buy more than they sell. It is not clear what government could fix any of this

[@sallywilton2236]

@@chrischristenson4547 there are over 100 million people in Egypt, many of whom are industrious, energetic, imaginative , entrepreneurial and highly intelligent but are all stifled by the dictatorship who only think of making money for its cronies, with forced military service, imprisonment and torture if anyone else dares to start any enterprise that could compete with government monopolies . You really think the whole country can only survive on the proceeds of the Suez Canal???? Most countries don’t have a Suez Canal. How did the US and every other successful country ever manage without owning a canal one must wonder? There are lots of opportunities in the world, not least as a hub for trade through the world, they have gold and gas reserves and many other sources of wealth but all are owned by government crony billionaires . BTW I used to live in Egypt and I can assure you that they are not total,dumbos who have to be led by an idiot dictator, and Sisi really is stupid . They are suppressed by an army with guns and tanks that do not allow the smallest dissent. Egyptians are imprisoned, tortured and killed regularly. Sisi builds more prisons than hospitals. It is way way worse than you can ever imagine there. There are no simple ‘answers’ to very complex intransigent issues brought on by 80 years of military rule. But the first all the west should think of is how to rid Egypt of its dictatorship. Until they do the country cannot move ahead.

[@guiwhiz]

For those bashing the IMF let's be VERY clear about something. Their charter is to provide loans to countries that REQUIRE those countries to restore economic balance and keep them from becoming so desperate they invade neighboring countries for assets/resources. They OFFER loans no one is required or forced to take them. The 'payback' terms aren't really that daunting. The daunting piece for these countries governments is they MUST make changes that the IMF requires to stabilize and balance their economy. No concern is shown for what that means for that particular government's continuance in power. Governments (particular authoritarian/dictatorial types) really don't like that. "Who are you to tell us we can't debase our currency, print money however we want, have massive corruption in our government, etc." ....they're the IMF that is who they are....

[@kenthanna]

If only there was a way to generate energy from the sun.

[@ambessaseway5594]

Egypt & Nigeria need a immediate birth control policy

[@JayBee-hk7ej]

And a secular culture.

[@billotto602]

I don't see any problem with the IMF. Where else would these countries turn for help in desperate times ?

[@sallywilton2236]

They could free up the ecinimy instead of the army owning everything. The IMF has repeatedly told them that but they ignore it

[@billotto602]

@sallywilton2236 who's army ?

[@sallywilton2236]

@@billotto602 Egypts army

[@fulconerra3055]

To China, in exchange for vassalship.

[@Digmen1]

China ? Saudi Arabia ? Russia?

[@John-cc9my]

Thank you Mr blogs

[@nataneliasschwenk9308]

What is NOT higher than it was in 2020? I sympathize. But if they cut way back on military expenditures they would be in much better shape. Plus they are wasting billions on a new capitol. Like always, the poor suffer due to mismanagement and corruption. And the US and IMF dole out cash which will never be repaid because it perpetuates the basic situation. 8 million? Or billion?

[@sallywilton2236]

You make it sound as though the leaders actually care. They don’t. They milk the system and become billionaires while the people starve. They can’t demonstrate because they get gunned down by tanks

[@zapfanzapfan]

Getting less money for Suez transits won't help either... they can thank the Huthies for that.

[@markfitzpatrick7186]

I was in Egypt quite often in the 2000’s and 2010’s. Shortly before the Arab Spring, people complained to me about the cost of bread. This was happening all across North Africa as the Dollar fell precipitously. The self-immolation in Tunisia was only a spark (no pun here) in a dry field. This timely news you’ve reported is certainly concerning when we consider how dry that field is with a raging genocide on the border.

[@BoydXplorer]

Great upload. Well narrated and edited. Tnx4sharing. Watching from DUBAI

[@EgyptConqueror]

"I swear to God I went 10 years with nothing in my fridge but water, water only!" - President El Sissi

[@sallywilton2236]

What a liar

[@centerfield6339]

The water was then used to cool the massive drinks cabinet.

[@user-kq3hj1xn9d]

Ein ganz und gar verdorbener Mensch !

[@liberty_and_justice67]

Long term trade deficits can not occur without foreign long term support of the Egyptian currency

[@DiggyT]

Over population, it's really that simple.

[@badjuju2721]

It really isn't. If there wasn't enough food to feed the people they never would have been born. The problem is incompetent government and prioritization of cash crops over food in the agricultural sector.

[@danielandersson1139]

​@@badjuju2721no, the basic problem is overpopulation. Look at how much Egypt(and other poor countries) have increased since 1945. Here in Sweden we are 10 million(and 2 of those are recent immigrants from MENA).....If we were 50 million instead, don't you think there would be massive unemployment and poverty here as well?

[@HaNsWiDjAjA]

​@@badjuju2721The tradeoff of food for cash crop was what allowed the Egyptian population to balloon off in the first place. Egyptian farmers found it more profitable to grow citrus fruit and cotton for export, and import cheap grain in return. If they now all switch back to wheat, there simply wouldnt be enough arable land in the country to feed the current population.

[@j.obrien4990]

Honestly their birthrates aren't that high (~3 children/woman), albiet they waited too long to deal with their birthrates. The bigger issue is that they have mismanaged their economy, under-invested in education, and wasted their money on vanity projects.

[@HaNsWiDjAjA]

@@j.obrien4990 Three children per women is definitely above the current global average of 2.3. The huge majority of the world population - 80% - now live in countries with a fertility rate below 3 children per woman. On the other end of the spectrum there are a few countries - home to around 10% of the world population - where the average women still have more than 5 children. But I agree, Egypt's birthrate wouldnt be an issue if they have managed their economy properly. Israel has the same birth rate, and is certainly doing very well economically.

[@MrDayna39]

Whenever the IMF gets involve in a country's financial debt relief programs a person can expect a lot of financial pain for that country's population. The same hardships are happening in Kenya at the moment, that's why they are having protest and violence at present

[@GordonDivine7]

Imagine another 2 million Palestinians walking in to the country with no money or assets.

[@georgeburns7251]

Egypt build a big fence to keep them out.

[@GordonDivine7]

@@georgeburns7251 Give them Sinai. Best option

[@marial8415]

@GordonDiving7 Well at least they have the same religion and cultural mores. Perhaps the Palestinians would be less of a problem there, ie the Egyptians would not put up with their shenanigans as readily as the gullible West.

[@It.s-just-me]

A three times increase nets a four times price. If you ADD 300 percent (a three times increase) you wind up with four TIMES the previous price...NOT a four times increase. Advertisers in America have been taking advantage of...no ...I should say CREATING this kind of confusion of terms for dishonest purposes, and it's disheartening to see the "error" reinforced by serious people. One times more, which is a one hundred percent increase, amounts to a net of twice as much (the initial one hundred percent, plus the added one hundred percent). Twice as much is two times as much. A marketer will tell his advertiser (or be told by his advertiser) to make "two times as much" sound like even more, by calling it "two times more". When, in reality, two times MORE would equal THREE times as much...and so on. If you have one, and then ADD one, you now have one MORE than the the original amount. And you see that it is twice as much...or, two times as much. Though it is only ONE time MORE.

[@RolandStenutz]

I still think that "90% fat free yoghurt" beats "two times as much" when it comes to dishonesty. Naturally, I don't eat the last 10% of the yoghurt :-)

[@mitchelgreen891]

@@RolandStenutzI couldn’t imagine actually eating reduced fat yogurt, why take the flavor away?

[@RolandStenutz]

@@mitchelgreen891 They put the flavor in the same 10% as the fat? That's stupid! ;-) (I think 10% fat is just about regular yoghurt. Butter is 20% "fat free")

[@McspaddenRaschko]

*Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires*

[@Michaelfloud2333]

Hello , I am very interested. As you know, there are tons of investments out there and without solid knowledge, I can't decide what is best. Can you explain further how you invest and earn?

[@Dewiregoonchoff]

Same, I operate a wide- range of Investments with help from My Financial Adviser. My advice is to get a professional who will help you, plan and enhance your management skills. For the record, working with Ann Marie strunk, has been an amazing experience.

[@ElveyBoddie]

Hello how do you make such monthly?? I'm a born Christian and sometimes I feel so down 🤦‍♀️of myself because of low finance but I still believe in God.

[@DebeaumontCadiz]

I'm favoured, $90K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,, all thanks to Ms Ann Marie strunk 😊🎉

[@LysterCushard]

Good day all👍🏻 from Australia 🇦🇺. I have read a lot of posts that people are very happy with the financial guidance she is giving them ! What way can I get to her exactly ?

[@theallseeingeye9388]

Any nation, empire or otherwise seems to have begun building grandious monuments as the final phase of its existence.

[@danielslubski1028]

and still ,they are building bases like there's no tomorrow, if i remember right 11 military ports for example,a vanity failing new capital city and more and more..... and too many babies.

[@sallywilton2236]

Yep. Glory to their most hated President.

[@frankstollar8492]

The birth rate actually dropped in the last years to 3 children per woman which is almost parity with the increased death rate compared to developed countries. But yeah, the population they have already is unsustainable in these conditions.

[@Pitollie]

Great update. Thank you.

[@nealkelly9757]

So sick of the IMF bailing out these freeloading countries

[@GordonDivine7]

100% increase = double 200% increase = treble 300% Increase = quadruple

[@johnmcculloch4009]

I cannot understand why the IMF bails out all these countries with massive debts and a negative balance of trade, which is very unlikely to change because huge investment is needed to improve the infrastructure. Even with improved infrastructure uneducated people are unlikely to make the difference. Perhaps the reason is to discourage massive flows of immigration ?

[@sallywilton2236]

The problems are soooo numerous but mostly because it’s a terrible military dictatorships

[@mitchelgreen891]

You’re exactly right, they’d just rather avoid a refugee crisis, but it’s going to happen anyway, Egypt simply cannot support the number of people living inside of it

[@Anne-LiseH]

It’s easier to get a country to do what you want if they are indebted to you.

[@sallywilton2236]

@@Anne-LiseH Egypt has billion of debt with dozens of countries/organisations. They rarely pay anything back. Sisi is always looking for more loans, that’s why he’s called The Pimp and he really doesn’t care to pay any off. He’s caused horrors in Egypt.

[@justinbarker4813]

The amount of trade that goes through the canal is WAYYY more important to the countries that are paying the IMF bills than the $11bil owed by Egypt. The instability of Egypt would be way more costly to the US and Europe than injecting a couple billion every few years.

[@barracuda008l4]

Subsidies are the most stupid thing ever

[@user-jj9eh9vf7u]

It's not a failed state, it's a failed region of the world. The important part for Europe is that we dont get another migrant crisis, Syrian style.

[@vincentyeo88]

Yes, a failed region. It seems that Mediterranean region of the ancient Roman empire is collapsing into ashes.

[@2011Matz]

What about BRICS? Didn't Egypt just join up for better econimics?

[@Weptek911]

The houthis screwing up their canal passage fee business has got to hurt too.

[@CalinGilea]

And again & again IMF “helps” the common people live a tough life, because obviously the Egyptian elite have enough money, influence and whatever to maintain their standard of living.

[@karlgrimm3027]

This is the same country that spent billions to build a new capital city in the middle of the desert.

[@CalinGilea]

@@karlgrimm3027 That was the decision of the elite, not the common people who will bear the brunt of the IMF "help".

[@ryansauchuk7290]

And why should the IMF pay to subsidize peoples bread and Gas?

[@mitchelgreen891]

@@ryansauchuk7290because of they don’t, the government falls apart and tens of millions of people go hungry, which triggers a refugee crisis that would be at least 5 times worse then the Syrian refugee crisis in 2015. The calculus is that it is literally easier to feed a overpopulated country then deal with the aftermath of it failing, which will happen anyway

[@sallywilton2236]

@@karlgrimm3027 that was their presidents idea. He is hated and rigs elections

[@JayBee-hk7ej]

"Without the IMF, Egypt would be up the creek without a paddle." With the IMF, Egypt is still up the creek without a paddle, but has now impounded the boat to the IMF, renting it back to Egypt at a high interest, and the paddle will cost Egypt the shirt off their backs. How you cannot see this is a mystery to me since your other parts of information are well researched.

[@yuvalru]

Very interesting!

[@andrewdavis6917]

My memory is foggy, but the thing I recall is that the Arab Spring and the issues that caused it was something to the effect of a large economic impact to the poor people in Egypt.

[@sallywilton2236]

Egypt was impoverished before the Arab spring. It’s had 80 years of military rule. They had one year of democracy and the current government/ dictatorship uses that as the biggest excuse to have a massive army suppressing the people. They have destroyed every possible opportunity and ignored all that the IMF demands. Only the ousting of the military junta can help Egypt

[@vincentyeo88]

Arab Spring first started in Tunisia.

[@vascodesena]

"Business" is "cutthroat"-- it doesn't care what it slices through to amass its fortune.

[@normathomas1356]

Thanks very informative keep it going

[@marial8415]

Thank you, the beautiful clever creature did put a big smile on my face.

[@gambocco]

Bread prices raise was the first reasons for the Arab spring happened in the early 2010s and destroyed many middle eastern countries... omg what will happen with the world this time since all over the world things is getting crazy

[@jefferywise1906]

With an increase of population, more mouths to feed, and no increase in arable land the issue of food security has become a problem. The fact that things like cotton having higher value than wheat and is grown rather than wheat as an export crop does not help. Add Ukraine wheat has been interrupted by the war with Russia creating a deficit in wheat availability has exacerbated this situation. Corn and soybeans are grown more as well here in the USA decreased the amount of wheat cultivation…. It’s not just money it’s the supply and demand balance becoming tipped by decreasing availability of commodities like wheat, rice and other cereals. If all the available farmlands of Egypt were dedicated to wheat, Egypt still could not feed itself.

[@haroldwilson4152]

I really like that 5 minutes in Joe reminded viewers that the money is relative. I am amazed at how often people don't get the concept of relative economies. $1-US will buy 1/4 loaf of bread but in Egypt $1-US would fill the boot of a small car. 👍joe

[@kuatofkuat2838]

Thanks! These vids keep me economically informed on our planet. Thanks again. Yo, man: keep'em coming.

[@KenFisher-oi5xf]

Yes that put a smile on my face.

[@user-yd8dw4js6s]

Finally I've been.looking all over for this

[@dewaard3301]

Peoples of the Earth, be careful what sort of goverment you accept to run your country.

[@govinda102000]

Israel is running Egypt

[@sarimento1]

So, think what Cuba, Egypt, Venezuela, Pakistan, Syria, Lebanon, Turkey all share in common! Not rocket science!

[@anthonymorris1360]

Bless those IMF subs, keep on giving down that hole. Total incompetence, corruption, daft subsidence leading to laziness, reliance on the system from the greedy leaders. All those ancient farming irrigation systems they are famous for means nothing? The number 1 for a state is to feed, warm and shelter the people, oh well .

[@pedrolopes3542]

Egypt has lots of money, the problem is that the Egyptian government is not intelligent enough to direct the investment in the right direction. Egypt is building a new pharaonic capital city east of Cairo. They are going to spend more than 70$ billion. But they have water shortages and really 100% on the Nile for their water... Couldn't they use 20$ billion to build desalination stations plus irrigation pipelines in order to kick-start their greenhouse agricultural sector? 90% of the territory of Egypt is empty, that is a huge advantage that they do not use. They have 365 days of sun per year, they have no ecosystem to protect because it is all desert. Those are the perfect conditions for a massive agricultural business sector to develop... But they are not smart enough to pull it out.

[@johnc2438]

Desalination plants require tremendous amounts of energy -- and the energy infrastructure -- to produce meaningful amounts of water. Egypt has plenty of sunlit, arid land, but it takes economic and technical know-how and planning (good planning!) to get a major desalination project moving, and one that doesn't gobble up incredible amounts of non-renewable energy.

[@THEFORBIDDENMAN-lk7of]

IV BEEN TALKING ABOUT THIS ALMOST 50 YEARS, BUT THE ARABS JUST DON`T GET IT THE WHOLE OF AFRICA SHOULD HAVE A THRIVING FOOD ECONOMY ECT AND ALL THAT WOULD BRING, BETTER SCHOOLING ECT, ECT, INSTEAD THESE NATIONS WANT TO STAY KEEP THEIR POOR WERE THEY ARE, I WOULD GIVE EGYPT A PENNY HAVE YOU SEEN THE SIZE OF THE UNDER GROUND TUNNELS FROM EGYPT INTO GAZA, YOU CAN TELL ME THEY KNEW NOTHING ABOUT THEN.

[@markusgorelli5278]

The Mediterranean is a somewhat enclosed body of water. A by-product of desalination is brine which would get pumped right back out into the Med. There is some concern if too many desal plants get built around there, it could make the Med too salty and upset the ecosystem i.e. the fisheries. A similar problem exists on the Red Sea side.

[@Bareego]

yeah 365 days of sun isn't great for farming, you end up with salty soil. But what it would be great for is solar energy. They could become a large solar power producer, reduce their dependence on fossil fuels and create an income from exporting power either through transmission lines or through exporting ammonia.

[@sallywilton2236]

@@BareegoEgyptians are excellent farmers and have 2 harvests a year. Unfortunately the land is mostly owned by the army or police and the ordinary folk get almost nothing for their hard work.

[@thomasnesmith5426]

Hey Joe!

[@stefanweilhartner4415]

having so much sunshine for solar energy an importing oil is stupid. they should make a local solar panel factory with panels that still let 15...20% of sunshine through. with this, they have enough shade and sun for plants and get electricity as well. every country has it's resources, egypt has more than enough sunshine. use it to your advantage! produce cheap electric motors. they don't need to be super efficient but super cheap. use aluminium wires for the motors instead of copper. e-bikes, electrified 3-wheel transporters with a solar panel on top. and build nice premium tourist options on a scientific level. melt desert sand with sun energy into bricks. make a tv station that shows how things can be done to be efficient. agrivoltaic is a cool thing.

[@annamaria-pv1fw]

Thx

[@GordonDivine7]

Could they sell the pyramids? Maybe that will generate some revenue?

[@cesaravegah3787]

Egyptians must really love bread, when I heard bad news about the country usually there is a mention about how expensive it has became at the time.

[@I46718]

Lack of food and water is what causes revolutions

[@dancoffey4293]

Really good stuff Joe. It's good to get snap shot of of the differing world economies. I'd love to hear about Nigeria, Mauritius, Libya, Rwanda, Thailand, Vietnam etc

[@markdsm-5157]

increase subsidies then accept IMF terms, lower subsidies by a percentage. Looks like they've learned a thing or two from sellers on Amazon right before a sale.

[@dglass2008]

EGYPT needs to export tourism again.

[@dewaard3301]

It's 40+ degrees from May until September. No thanks.

[@Virginija658]

I would never travel to country, I, as woman, can not safely go alone.

[@jondurr]

Suez Canal toll fees can range from between US$400,000 to US$700,000 per vessel.

[@alexanderthegreatoz5945]

Damn. Really?

[@PortsladeBySea]

I rarely meet anybody who now goes to Egypt for their holiday, which must be having a big impact on their economy. My wife and I decided never to go back after being totally harassed and bullied by street sellers and beggars. The Egyptian government must take action to protect tourists from these people 🐫🇪🇬📉☹️

[@ssruiimxwaeeayezbbttirvorg9372]

I bet, at least half of this bread is being fed to chickens/pigs/etc.

[@keithbajema2358]

Probably goats instead of pigs.

[@chrischristenson4547]

we had a Lab who would dive down and pick up a rock from the bottom of the swimming pool

[@charlesbeaudry3263]

What a basket-case!

[@JohnTovar-ks8dp]

I thought Egyptians would be starving by now, and leaving the country if they could.

[@goldgeologist5320]

I remember when Egyptian cotton was highly desired and valued. Is it a thing anymore?

[@sallywilton2236]

Yes but poor wages and monopolised by generals from the army

[@georgedoolittle9015]

Wasn't Egypt the only Roman Province to complain about constant debasement of the Dinaari?

[@ideas-matter]

Just watching the intro... I bet it's doing great, is it doing great Joe?

[@cheaserceaser]

Bread prices will decrease if government gives out free bread or force companies to sell bread cheaply.

[@daniellarson3068]

Yeh and maybe some folks starve if they don't do that stuff.

[@emperorfancypants2512]

There is no free

[@JanBruunAndersen]

Then the private companies will shut down instead of loosing money and the government will be forced to give away more free bread. Which the tax payers must finance, meaning the tax payers have less money and need more free bread. You see where this is going? There is no such thing as free bread. It is just someone else paying.

[@markusgorelli5278]

If they force companies/farmers to sell below the cost to actually grow the wheat, process it and make the bread one will end up with shortages as companies won't be able to pay workers a living wage to do the work. If you want a return of slavery then you should just say so. Or maybe you want to government to confiscate farmer wheat crops so they can give out "free bread." Instead the Government steps in to pay subsidies. This is how they can "force companies to sell bread cheaply." This is no longer sustainable as the government is broke now, and they can't afford to make those subsidies. It's all well to blame the IMF but they were going to have to do this anyway i.e. reduce/remove subsidies and allow the prices to meet market rates.

[@sallywilton2236]

The price is way less than it costs to make

[@donEvans27]

Gee, I wonder who benefits from these conditions.

[@E3ECO]

Politicians want to remain in power, so they pander to their people in hopes their house of cards doesn't fall on their watch.

[@floxy20]

That's a lot of Wonder Bread.

[@xman7695]

Wouldn't it have been cheaper to just stop building their new capital?

[@user-xh2yg4uv9q]

Egypt needs to reform its state controlled economy.

[@paulwalker1238]

A blanket,a bowl and a stick.

[@user-tx5vr7jl3q]

Thank you so much for the information. Big Fan

[@user-pp1ni2jy3f]

Egypt has nothing to offer, that's why this economy is doomed. Tourism cannot make up this deficit.

[@richdobbs6595]

It could provide cannon fodder for wars. There is a large population of surplus young men.

[@ameritoast5174]

It actually does which is the Suez canal.

[@richdobbs6595]

@@ameritoast5174 The value gained from the Suez canal is already factored into its economy. Especially with the Houthi attacks, this isn't a very good opportunity for growth.

[@tenglim4406]

Or more accurately, it's more of economic mismanagement, corruption, neopotism, and lack of economic planning etc.?!

[@stevev238]

They cannot guarantee the safety of tourists which is a fundamental limiting factor on the number of people willing to travel there.

[@mikeseigle5560]

Unrest in Gaza and Yemen cannot be helping any.

[@brendanmarriott5949]

I truly appreciate your very, I always thought Egypt was a rich country