Egypt's economic policy has been in a virtual holding pattern since the end of last year and the government finds itself in exactly the same situation today as it was nearly six months ago: having to implement tough but unavoidable reforms in the face of deep political division and with elections just around the corner.

Morsi's Egypt is very similar to Mubarak's Egypt. Morsi can enact laws without the legislature, he is in control of the police, in control of the army and in control of foreign affairs and he signs all treaties. There are no checks and balances in the new Egypt -- all power is centralized in the office of the president.

When Sudan was debating the terms of its independence, many Arab Sudanese argued for a union with Egypt, their fellow sons of the Nile. And now, it seems, each is holding what may be its most important demonstrations to date.

The current political situation in Egypt is a complex weave of shifting alliances, jostling for power, democratic aspirations, and fear -- fear of losing long-held privileges, of skeletons in closets, and of what tomorrow could bring.

Again and again we heard that said, that Egyptians hope Obama understands the Middle East situation better than his predecessor.