Egypt is a useful semi-extreme (but functioning, not Venezuela-level) case study of energy-constrained debasement: over a decade its per-capita energy consumption topped out and declined—at roughly one-eighth the US level rather than after meeting needs—while money supply grew 15-20% per year, producing summer rolling blackouts, lackluster telecom, more work-hours required to buy a car or laptop, and mal-investment in pre-built ghost-city real estate as people seek a store of value beyond the depreciating local currency.