Zero Hedge: Two weeks ago, when the world was still transfixed by the historic US foreign policy failure which allowed the Taliban to overrun Afghanistan in a matter of hours which has made the Biden administration the laughing stock of both the developing and developed worlds, we said that “for all the focus on the humanitarian crisis unfolding at an unprecedented pace in Afghanistan, many are forgetting that an even worse economic disaster awaits the “Islamic Emirate” of Afghanistan now that the Taliban are in charge.”
“You have sown much, and bring in little; You eat, but do not have enough; You drink, but you are not filled with drink; You clothe yourselves, but no one is warm; And he who earns wages, Earns wages to put into a bag with holes.” Haggai 1:6
So today, as the Taliban were celebrating and parading in their brand new US military hardware, behind the scenes a far more catastrophic scene was unfolding: the economic disaster we warned would happen within weeks.
As Reuters reports, now that the initial adrenaline rush is gone, Afghanistan’s new Taliban rulers are struggling to keep the country functioning after the final withdrawal of U.S. forces, with foreign donors alarmed about an impending humanitarian crisis. Indeed, two weeks since the Taliban’s sweep into Kabul brought a chaotic end to 20 years of warfare, the Islamist militants have yet to name a new government or reveal how they intend to rule.
In the administrative vacuum, prices have soared, the currency has crashed, commerce has ground to a halt, and crowds have gathered at banks to withdraw cash. Meanwhile, as heavily armed fighters imposed control on the capital, Taliban officials were grappling with keeping hospitals and government machinery running following the end of a huge airlift of foreigners and Afghans who had helped Western forces. Read More