Who lost money in the Egyptian stock market crash?

Egypt always complains that the middle class is disappearing - which, by pure logic, is completely dumb: there will always be a middle! The middle has just changed, that's all...

I was struck when I read that these two people died because they lost a lot of money in the recent stock market crash:

The first is a man who killed himself, after he lost a lot of money in the stock market AND had 40,000 EGP stolen from his car.

The second died of a heart attack upon realising that he lost a lot of money in market crash.

Here’s the thing though. The first guy is an electrician who owns a small shop. The other one owns a dairy shop (labbaan, ya3ni).

People like these generally lack formal education and are considered to be generally among the lower classes of the population.

Only the fact is, such people are quite rich. Richer than my family, for instance. Their incomes are, however, undeclared, they pay no taxes, contribute nothing to the society’s common pool.

Yet they still ask the white-collars for their bakshish, and expect to receive alms for the holiday seasons, so they can buy that beach house on the north coast :)

Egypt has evolved and changed far more rapidly than it wants to acknowledge; the concentration of wealth has shifted classes. I’ll try to develop that in a further post... :)

I almost feel nothing towards the poor bastards who died of financial sadness. At least, if they won’t pay taxes, they won’t breathe my air.