Lebanon's Economic Crisis Deepens

 

France 24: 'Hell on earth': Lebanon unlivable as crisis deepens 

It wasn't a late-night craving that brought Ayla to a Beirut cafe but the air-conditioning that let her children, slouched in a sofa next to her, get some proper rest. 

Lebanon's energy crisis is dragging people to unlikely places in their desperate quest for life's essentials, be it fresh air, electricity, a working fridge or petrol for their cars.

"For two days, we have not had a single minute of power at home. The children can no longer sleep," said Ayla, a woman in her 30s.  

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WNU Editor: The suffering is going to get worst .... Lebanon to raise fuel prices in bid to ease crippling shortages (Al Jazeera). But for those who have American dollars, life is good .... In Lebanon, dollars shield some from economic crisis (Frontline). 

 I can relate to the Frontline story on the power of the US dollar in my own personal life. 

When the Soviet Union fractured and Russia was put into an economic crisis that mirrors Lebanon today, to help my family in Russia and Ukraine I would make money in Canada through my regular job, part time work, business deals, and side hustles. Every six months or so I would then fly back to Moscow for a few days with all of the money I made to help the family pay bills and start ventures in real estate. 

I still remember vividly having a full course meal (booze included) at one of St. Petersburg's best restaurants with a dozen members of my family that cost less than $30 US. 

Building a new home for one of my uncles for $5,000 US, or buying my condo not far from Red Square at a price that is a fraction of what it is worth today. 

I know there is a lot of suffering in Lebanon today. I experienced it too. But there is also a lot of opportunity, and with time life does get better.