This morning's key headlines from GenerationalDynamics.com
- Four protesters killed in clashes at the U.S. Embassy in Yemen
- Has the fuse been lit?
- The role of blasphemy in jihadist movements
- Egypt facing 'million man protest' after Friday prayers
- Stocks surge again after Fed announces QE3
Four protesters killed in clashes at the U.S. Embassy in Yemen
Pan-Arab nationalist demonstrations at U.S. embassies spread
to numerous countries throughout the Mideast and beyond on Thursday.
There were small protests in Morocco, Sudan, Tunisia, Bangladesh
and Iraq, and continuing demonstrations in Egypt and Libya.
The biggest protest on Thursday was at the U.S. embassy
in Sanaa, the capital of Yemen, where anti-American and
anti-Israeli protesters stormed the embassy, chanting "death
to America" and "death to Israel." Four protesters were
killed and dozens injured by police gunfire, but no embassy
personnel were killed.
Yemen's president, Libya's president and Egypt's president all
apologized for the embassy attacks. The Libyan government says that
it's arrested four men involved in the killing of U.S. ambassador
Chris Stevens, but that hasn't been confirmed. National Yemen and CNN
Has the fuse been lit?
There's been a lot of talk about a lit fuse that's leading to a huge
explosion in the Mideast, similar to the 1979 Great Islamic
Revolution. Perhaps that's true, and the Generational Dynamics
prediction is for a major sectarian Sunni vs Shia war, but I see
little signs of it so far. The 2005 Danish cartoon protests looked
they would explode, but they fizzled within a few weeks. The "Arab
Spring" protests have been going on for almost 20 months, and the
protests we've been seeing this week have not, so far, been as big as
those. So it's possible that the situation will explode in the next
couple of weeks, but it's at least equally likely that the current
round of anti-American protests will fizzle, at least for now. I
would suggest to everyone that you not go too far out on a limb
predicting a new revolution.
The role of blasphemy in jihadist movements
I continue to be impressed with the role of charges of blasphemy as a
common theme in the jihadist movement. The protesters in Cairo and
Benghazi were not protesting America's support for Israel, or for
drone strikes, or for Guantanamo or against Christians. They were
protesting blasphemy. The Danish cartoon protests were for
blasphemy. In Pakistan, jihadists groups kill Shia and Sufi
worshippers almost on a daily basis, and the reason given is always
blasphemy, as I described in "26-Apr-12 World View -- New report examines terrorism and religious extremism in Pakistan."
For some reason, charges of blasphemy seem to be able to stir up
extremely angry passions among Sunni Muslims. In Pakistan, there have
been numerous examples where the population simply didn't care if some
perfectly innocent person was murdered or jailed, if there were
fatuous charges of blasphemy involved. Charges of blasphemy have
targeted far more Muslims than non-Muslims.
From the point of view of Generational Dynamics, this is a mass
phenomenon that's typical of generational hatreds. In the past, I've
hypothesized that this behavior in Pakistan is similar to the refusal
of American prosecutors to investigate and prosecute banksters for
massive incidents of fraud. And as I explained in "The Legacy of World War I and the Holocaust", this is also the same behavior that led to the
1930s Holocaust. This kind of mass generational hatred only leads to
one place: catastrophe.
My interpretation of the situation is as follows: Sunni jihadists have
been trying for years to repeat the success of the Iran's 1979 Great
(Shia) Islamic Revolution, but to do so in a Sunni Islam country, and
they've failed over and over and over. This is just another try
that's likely to fail, but the one thing they use repeatedly to stir
up mass fury in Sunni crowds is charges of blasphemy.
Egypt facing 'million man protest' after Friday prayers
Friday has always been a big day in the Arab Spring protests, because
the mosques fill up for midday prayers on Fridays. After the midday
prayers are over, people pour out of the mosques into the streets for
protests. Protests have been non-stop since Tuesday in Cairo Egypt
near the U.S. embassy. The Muslim Brotherhood and the Salafist Nour
Party have called for a "million man protest" on Friday after midday
prayers, with the protest once again motivated by charges of
blasphemy. Al-Ahram (Cairo)
Stocks surge again after Fed announces QE3
The Federal Reserve announced a new quantitative easing program on
Thursday. In the QE3 program, the Fed will "print" $40 billion per
month, and use it to purchase an equal amount of mortgage debt. This
will theoretically lower mortgage interest rates, possibly to below 3%
on a 30-year fixed mortgage, which will theoretically spur economic
growth. All the previous programs have been failures, but
theoretically "this time it's different" because the program is
open-ended, and the mortgage debt purchases can continue indefinitely.
Stocks surged on Wall Street as excited as banksters and traders
looked for ways that they could get their cuts of the new outlays.
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