Spengler: Disaster Looms

David P. Goldman who writes for the Asia Times under the nom-de-plume of "Spengler," says Egypt, Tunisia, and Syria, plus any other Arab countries which import oil, are headed for the economic toilet. Their governments are not stable enough to survive the deprivation.

Goldman says the foreign aid they'll need to stay afloat won't be forthcoming and the "Arab spring" unrest has seriously damaged the tourist trade upon which at least Egypt and Tunisia relied. If you do business or travel for pleasure in that part of the world you might choose to be cautious.

Spengler tends to be pessimistic, but is always interesting to read and knows his economics very well.