Nations Bordering Israel Seem To Collapse: Lebanon Hyperinflation, Power Outages

[G.L.R.]

Lebanon's Economy Quickly Collapsing Amid Hyperinflation, Power Outages

August 8, 2021

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An analysis from the Wall Street Journal places at least some of the blame on the massive explosion that rocked Beirut about a year ago in August of last year. In the capital, power outages are commonplace and have forced restaurants, for example, to use portable generators to generate electricity.  The blast killed at least 200 people and triggered as much as $15 billion in damage, according to Beirut's governor. The government of Lebanon also was forced to resign after widespread pressure from protesters. "I set out to combat corruption, but I discovered that corruption is bigger than the state," said Lebanese Prime Minister Hassan Diab widespread resignations. "I declare today the resignation of this government. God bless Lebanon."

There have also been fights in supermarkets as people try to buy bread, sugar, oil, and other goods before they run out, with inflation 400 percent, the report said. Murder rates and other crimes are also rapidly rising. The economic collapse could reduce the country into a failed state, experts have warned.  "Not only do we have an absence of government and a political vacuum, but we're going to have a severe problem with the function of the state of Lebanon," Lebanese American University political scientist Imad Salamey told The Wall Street Journal. "We are heading toward the unknown."

https://www.theepochtimes.com/mkt_morningbrief/lebanons-economy-quickly-collapsing-amid-hyperinflation-power-outages_3939156.html?utm_source=Morningbrief&utm_medium=email&utm_campaign=mb-2021-08-09&mktids=3ca0ebf0d7581c4e571985b5d8f82de1&est=HEeCKgx2Zlp0IUZT6cdXbOuS6GN%2FgqfMtQBlegFa08nDhprZ2UBFrMT9w5Y5N%2BumvZqTJhMq