MASSIVE explosions in Beirut, Lebanon

[dutch777]

13. Lebanon is ready to unravel into another civil war

Their finances are in a shambles....bankrupt really...Covid not helping of course...and the IMF says unless there is real governmental reorganization and end to the graft and corruption that syphoned off last bailout there will be no more help. The levers of government were divided up after the last civil war along ethnic and religious lines to the elites within each group and it just served to institute cronyism and bad government. And each group wants the other groups to take the economic and political hits, not them. Terrible for the people in the streets and the region.

And they are not the only country going down the financial drain under Covid. Turkey is in bad shape as is Venezuela and others. Given tourism hit to Greece and other places that rely on that cash stream I wouldn't be surprised to see them follow. We certainly have our own issues with the 33% drop in GDP but it could well be these other second and third tier countries defaulting that starts a domino affect that we all get hit with. France and Spain hold a lot of sovereign debt for Turkey as an example. Just what we need with Trump unable to lead even the heavy coffee drinkers to the bathroom let alone coalesce national and international forces to prevent an economic implosion.