What we've learned about the "new" Egypt is that if the people don't like you, the military will step in and fire your ass!
The military informed President Mohamed Morsy, as of 7pm local time, that he was no longer the president of Egypt. Further, they dissolved the nation's parliament and suspended its constitution. According to reports, the military council has formed an interim civil government, until the specifics of the forward process can be hashed out.
I know the pharaohs are spinning in their tombs!