Home About Archives RSS Feed

The Independent Investor: Rebellion in the Mideast — The Internet Strikes Back

Bill Schmick

For my ally is the Force, and a powerful ally it is. Life creates it, makes it grow. Its energy surrounds us and binds us.

— Yoda, "Star Wars: The Empire Strikes Back"

Thousands, if not millions, of demonstrators are protesting their unhappiness from one end of the Middle East to the other. Demonstrators in Iran, Bahrain, Yemen, Iraq, Algeria, even Libya, have followed the leads of Tunisia and Egypt in taking their grievances to the streets. At the center of this revolutionary movement is the Internet.

You may have seen the young marketing manager of Google, the Egyptian Wael Ghonim, on television or the Internet recently. He is credited with starting the Facebook page that helped spark the revolution that ended in the demise of Hosni Mubarak, the autocrat who ruled Egypt with an iron fist for the last 30 years.

"This is the revolution of the youth of the Internet and now the revolution of all Egyptians," this hero of Egypt's revolution said in an interview with the Associated Press.

What struck me most was his sincerity, his matter-of-fact trust in the Internet and its members as opposed to his government. He believes that the Egyptian regime's biggest mistake was cutting off the country's access to the internet. I agree.

By its actions, the Mubarak government acknowledged its greatest fear and confirmed that they no longer had control of the dissemination of information. Middle Eastern regimes (among other repressive societies) have realized full well the value of propaganda and the tight control of communications. Up until the introduction of the Internet, it was a fairly easy job to control the main outlets of communication; namely print, television and radio.

Since these regimes controlled the media, only their special brand of the "facts" were allowed to be disseminated to the populace. The internet changed all that. Those who feel oppressed have access to alternative views of the facts and can decide for themselves whether they are being manipulated and exactly how that manipulation is unfolding. Since information is the foundation of any and all governments, the Internet has made it impossible for oppressive regimes to continue their monopoly on information dissemination.

Internet penetration in the Middle East remains modest at 29.8 percent, according to Internet World Stats, while Asia boasts a 21.5 percent penetration. Africa overall has only a 10.9 percent penetration compared to the U.S. at 77.4 percent. However, as in the rest of the world, penetration is growing by leaps and bounds in the Middle East (over 1,800 percent in the last 10 years). As computers and cell phones proliferate, governmental control of the traditional sources of information becomes much less effective.

Demographics are also aiding and abetting the Internet as a world force for change. In just about every country presently impacted by growing rebellion, the age of the population has been a contributing factor. The region is facing a demographic bulge in age with youth aged 15 to 29 comprising the largest proportion of the population.

At the same time, this segment of the population is bearing the brunt of the region's high jobless rates and skyrocketing costs of food. The traditional and growing disparity between the "haves" and the "have-nots" within their societies has not been lost on these young people who, for the most part, are highly educated. Generally speaking, patience is not a strong point with the youth and, in my opinion, has lost what little patience they had with the political, social, economic and religious oppression of their governments.

Let's face it, most of the Middle East is ruled by religious fanatics, dictators or corrupt kings. None of these regimes are fertile grounds for economic opportunity, the empowerment of women, or equitable access to resources and education. Unfortunately, these are all necessary ingredients if the region's leaders intend to harness the youth, a key human resource, in growing their economies.

What they (and other governments) are only now beginning to realize is that their youth is the Internet generation. It has become a part of their everyday experience, unlike those of us who have not grown up with this phenomenon. As such, the Internet has become the conscience of all societies.

Its adoption has facilitated a meeting ground where the world's angry and disenfranchised youth can band together, gather en masse, if need be, and deliver thousands, if not millions, of protestors into the streets with a simple tweet or the creation of a Facebook page. I expect unrest, rebellion and unfortunately, repression to continue so fasten your seat belts.

Bill Schmick is an independent investor with Berkshire Money Management. (See "About" for more information.) None of the information presented in any of these articles is intended to be and should not be construed as an endorsement of BMM or a solicitation to become a client of BMM. The reader should not assume that any strategies, or specific investments discussed are employed, bought, sold or held by BMM. Direct your inquiries to Bill at 1-888-232-6072 (toll free) or e-mail him at wschmick@fairpoint.net. Visit www.afewdollarsmore.com for more of Bill's insights.

Tags: Internet, revolution      

Support Local News

We show up at hurricanes, budget meetings, high school games, accidents, fires and community events. We show up at celebrations and tragedies and everything in between. We show up so our readers can learn about pivotal events that affect their communities and their lives.

How important is local news to you? You can support independent, unbiased journalism and help iBerkshires grow for as a little as the cost of a cup of coffee a week.

News Headlines
Big Lots to Close Pittsfield Store
McCann and Taconic Awarded CTI Grants
Guest Column: An Honor to Serve
Puppeteer To Present 'Little Red Riding Hood' At Ventfort Hall
MSBA Greenlights Pittsfield's Crosby/Conte Proposal
Tri-Town Health Department Relocation
Clark Art Airs Live Production of 'The Magic Flute'
Drury Recognized Among Nation's Best for College Readiness, Curriculum Excellence
North Adams Chops Notch Forest Plan
Williamstown Planning Board Hears Results of Sidewalk Analysis
 
 


Categories:
@theMarket (512)
Independent Investor (452)
Retired Investor (221)
Archives:
December 2024 (5)
December 2023 (4)
November 2024 (8)
October 2024 (9)
September 2024 (7)
August 2024 (9)
July 2024 (8)
June 2024 (7)
May 2024 (10)
April 2024 (6)
March 2024 (7)
February 2024 (8)
January 2024 (8)
Tags:
Economy Europe Japan Bailout Congress Qeii Crisis Oil Banks Election Taxes Metals Stocks Unemployment Commodities Deficit Energy Greece Recession Debt Ceiling Interest Rates Stock Market Retirement Debt Fiscal Cliff Selloff President Jobs Currency Markets Rally Stimulus Pullback Euro Federal Reserve
Popular Entries:
The Independent Investor: Don't Fight the Fed
Independent Investor: Europe's Banking Crisis
@theMarket: Let the Good Times Roll
The Independent Investor: Japan — The Sun Is Beginning to Rise
Independent Investor: Enough Already!
@theMarket: Let Silver Be A Lesson
Independent Investor: What To Expect After a Waterfall Decline
@theMarket: One Down, One to Go
@theMarket: 707 Days
The Independent Investor: And Now For That Deficit
Recent Entries:
The Retired Investor: Trump's 21st Century Mercantilism
@theMarket: Stocks Shrug Off Rising Inflation
The Retired Investor: Is Mercantilism the Answer to Our Trade Imbalance?
@theMarket: The Santa Claus Rally and Money Flows
The Retired Investor: The Future of Weight Loss
@theMarket: Holiday Cheer Lead Stocks Higher
The Retired Investor: Cost of College Pulls Students South
@theMarket: Stocks Should Climb into Thanksgiving
The Retired Investor: Thanksgiving Dinner May Be Slightly Cheaper This Year
@theMarket: Profit-Taking Trims Post-Election Gains