"We're hearin about #Lebanon's economic situation.
Vs.
We're seein a crazy clubbin nightlife on social media.
How r people goin out & spendin given the disastrous Lebanese situation?" @TheRealTahinis
Ali asked me this Q yesterday on Clubhouse, and I answered briefly:
⫸Thread⫷
- Lebanon's post-war era (1990-Present) vs. the three main sectors of the economy (Agriculture, Manufacturing & Services) that haven't been built neither for self-sufficiency nor for export.
- How lively Lebanese are by nature.
- How luxurious cars in Leb are bought on credit.
- How Lebanese like to enjoy life at the expense of being realistic sometimes.
- How most Lebanese families in Lebanon have family members that are abroad working as expats worldwide. These Lebanese expats do send hard currencies to their families.
- As well as these expats go to spend holidays in Lebanon.
- Because the currency devaluation (1USD = 1500LBP in 2019 to 1USD = 17,000LBP 30/6/2021) made Lebanon cheap for expats, they are going overboard with the partying, especially as a way to decompress!
✱What is NOT shown on social media:✱
- Pharmacies do not have enough medication.
- Infant milk can not be easily found in the Lebanese market. Some medicinal brands disappeared completely.
@TheRealTahinis thanks for your Q. It's true. More awareness needs to be raised for the West to know what is happening in Leb.
What you guys see on Lebanese social media, from extravagant beach parties to crazy nightlife, does not reflect most Lebanese people's livelihood.
Today you have 156,000 Lebanese in the UAE (Wikipedia) alone. And this is how it looks for them to spend their holidays in Lebanon today. This is just a tiny sample of what changed.
#Bitcoin fixes this
#inflation
#Lebanon Calls In Military Amid Violence Gas Price Protests | OilPrice.com oilprice.com/Latest-Energy-… #oilprice
"#Lebanon is suffering from an acute shortage of imported drugs, particularly for chronic diseases, amid a lack of foreign exchange in the country, Lebanese pharmaceutical importers warned on Sunday"
middleeastmonitor.com/20210704-leban…
The #WorldBank said the financial crisis could rank among the world’s three worst since the mid-1800s. The currency has lost more than 90 percent of its value and unemployment has skyrocketed. @nytimes
nytimes.com/2021/07/05/wor…
Lebanese Minimum wage is only $38!
Study shows 72% of the Lebanese will struggle to secure their food!
الحد الأدنى للأجور باتي يوازي 38 دولارًا فقط! دراسة: 72% من اللبنانيين سيعانون في تأمين طعامهم!
bit.ly/3xoA31u
🇱🇧💥
#LEBANON ELECTRICITY = 0
GRID IS - COMPLETELY - OFF for the past 4h.
#LEBANON EMERGENCY RESPONSE EFFICIENCY = 0
#LEBANON IS A TIME BOMB waiting to 💥
“Lebanon on the Brink”
news.gallup.com/poll/352214/le…
Government raises the price of staple BREAD once more in #Lebanon
news.yahoo.com/government-rai…
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