Icewolf
ELITE MEMBER
- Joined
- Jan 28, 2012
- Messages
- 10,503
- Reaction score
- -11
- Country
- Location
Lol supply and demand... They can't sell that much without making gold rubbish
IMF: Saudi going bankrupt in 5 years
- Thread starter Lux de Veritas
- Start date
Lol supply and demand... They can't sell that much without making gold rubbish
Enver Paşa
BANNED
New Recruit
- Joined
- Oct 14, 2015
- Messages
- 93
- Reaction score
- -12
- Country
- Location
Gold is not a chinese junk product. Did you ever had any gold moron?
My-Analogous
SENIOR MEMBER
- Joined
- Feb 9, 2009
- Messages
- 7,013
- Reaction score
- 2
- Country
- Location
Now they are focusing on that and they are making industrial cities and projects
Industrial Development in Saudi Arabia
somebozo
ELITE MEMBER
- Joined
- Jul 11, 2010
- Messages
- 18,872
- Reaction score
- -4
- Country
- Location
When many people think of Saudi Arabia they only think oil...they forget large reserves of Aluminum, Zinc, Phosphates, etc...Phosphate is another major industry after oil...
Shotgunner51
RETIRED INTL MOD
- Joined
- Jan 6, 2015
- Messages
- 7,165
- Reaction score
- 48
- Country
- Location
AZADPAKISTAN2009
ELITE MEMBER
- Joined
- Sep 8, 2009
- Messages
- 37,669
- Reaction score
- 68
- Country
- Location
We support our friends Saudia in this difficult times
Saif al-Arab
BANNED
- Joined
- Mar 26, 2015
- Messages
- 8,873
- Reaction score
- 5
- Country
- Location
There are no difficult times in KSA at all. The non-oil/gas/natural resource based economy is growing quickly, necessary economic reforms are slowly initiated, the youth gets better educated for each month, the same youth which has the highest capita in the world of students at US universities (outside of locals obviously). Not to say that KSA is home to some of the biggest current-day infrastructural etc. projects on the planet.
All this while there are a tons of idiotic laws in place that could easily be removed, no taxation, no real tourism industry (enormous potential) outside of Hajj and Umrah and with one of the youngest populations out there.
Yeah, we are crying ourselves to sleep. Soon we will start migrating to every corner of the world like our ancestors once did.
------------
I am not the least surprised that IMF has now followed suit alongside the British tabloids who are on a pathetic crusade of late.
The real world looks differently though and I won't even waste my time explaining why such a thing (bankruptcy) will not occur in KSA.
The Reports of Saudi Arabia’s Death Have Been Greatly Exaggerated | Foreign Policy
That's not the only grudge that those people have.
There are grudges such as "why have they been blessed by numerous Prophets", "why does Makkah and Madinah lie in their lands", "why has their lands been blessed with almost endless oil, gas and mineral resources", "why are they living in one of the most wealthy and stable lands", "why did their ancestors create so many empires and why has their religion (s), culture, language, civilizations played such an important role in world history" etc. The list is as long as the ignorance. I would not waste more time than necessary on such people. Let them have their delusions.
You must understand that many of such people's homeland's are never talked about in the media and few people show any interest for them which is totally opposite for KSA. Even the outright haters of KSA are secretly curious about the country and people. I have discovered this myself. Of course they won't admit it here. Why the hell would some short VICE report on Saudi Arabian women have almost 10 million views on Youtube? Countless of such examples and others that are better not to be mentioned on a forum with kids around, lol.
Obviously since KSA has not been guilty of any war crimes, genocides in history or anything of that short, the only arsenal they have in their store are a few hundred teenagers turned militants/terrorists and OBL who in reality was half Yemeni and half Syrian. That and some domestic laws in KSA that do not apply to them and occasionally some Saudi Arabian beating up a migrant. Migrants that originate from countries home to the largest number of actual slaves and murders of employees. Oh, the irony. Not to forget "Wahhabism" that does not exist (Hanbali fiqh) which less than 30% of the population follows. Also it's deliberately forgotten that all Islamic sects (major) originate from the same KSA and that the same KSA has native populations that belong to all of those sects as the only nation on the planet. All having lived in complete peace since 1932 outside of 3-4 recent ISIS attacks in a country that apparently is home to 30 million ISIS members, lol. Lastly they have their "Bedouins" and "Afro-Arab" speeches like we are ashamed by our Afro-Arabs (Arabs of African origin and some of the nicest people out there) or Bedouins who are one of the most ancient people in the world and real survivors famous for their hospitality, poetry, handcrafts, military history, development of the Arabian Horse, Arabian coffee, creation of numerous World UNESCO Heritage Sites etc.
Careful guys. Let's not get too factual here!
Also another quick comment. LONG before the oil/gas runs out (let alone the other numerous riches that KSA has been blessed with), KSA will be a fully developed high-tech nation. Even with at times catastrophic internal policies there have been constant but slow progress.
I guess the logic of morons dictates that people cannot adapt or evolve depending on the circumstances despite this being an inherit human feature.
Lastly what a surprise that the Muslim-obssed Singaporean created this thread. BTW Arabs from the Arabian Peninsula owned almost all of Singapore less than 150 years ago and helped put it on a world map as a trade destination as Arabs controlled the Arab Sea/Indian Ocean trade for millenniums. The Arab Quarter is to date the oldest (if my memory serves me right) part of Singapore. Of course he won't be aware of this. Only good Muslims for him is a "bad" one.
Last edited:
ganesh623
BANNED
- Joined
- Jan 22, 2012
- Messages
- 717
- Reaction score
- -6
- Country
- Location
With what ?
Chinese-Dragon
RETIRED TTA
- Joined
- Jul 9, 2010
- Messages
- 33,932
- Reaction score
- 52
- Country
- Location
Frankly, Saudi Arabia would be the last country in the world that I would worry about in terms of Government budget.
Most countries in the world, tax their citizens through various means (income/sales/etc.) and they STILL run budget deficits every year. Which they finance by borrowing money from overseas.
Saudi doesn't tax their citizens, and they don't take loans, yet this is the first time in recent history in which they have had a budget deficit.
Any country in the world would be envious of Saudi's government budget.Anyway it's a part of Saudi's long-term game plan to flood the market and drive global oil prices down, in order to seize greater market share. Saudi can certainly afford it (with more than half a trillion in currency reserves), and I certainly can't complain, low oil prices are great for consumers worldwide.
After year of pain, OPEC is about to crush the U.S. shale oil boom | Financial Post
Saif al-Arab
BANNED
- Joined
- Mar 26, 2015
- Messages
- 8,873
- Reaction score
- 5
- Country
- Location
Frankly, Saudi Arabia would be the last country in the world that I would worry about in terms of Government budget.
Most countries in the world, tax their citizens through various means (income/sales/etc.) and they STILL run budget deficits every year. Which they finance by borrowing money from overseas.
Saudi doesn't tax their citizens, and they don't take loans, yet this is the first time in recent history in which they have had a budget deficit.
Anyway it's a part of Saudi's long-term game plan to flood the market and drive global oil prices down, in order to seize greater market share. Saudi can certainly afford it (with more than half a trillion in currency reserves), and I certainly can't complain, low oil prices are great for consumers worldwide.
After year of pain, OPEC is about to crush the U.S. shale oil boom | Financial Post
Exactly my friend. Most users that have commented in this thread have sadly no clue about the topic yet they feel a need to have their few seconds of fame. In such environments there can be no sensible or interesting discussions that you could learn something from.
Quite frankly continuous low oil prices will force KSA, the GCC and other resource rich countries to take the diversification of their economies more seriously as well as quicken the process of necessary economic and legal reforms.
Although it's worth noticing that low oil prices will probably lower the prices of alternative energy sources such as solar and wind energy which are other potential huge magnets for income for KSA and likewise China btw. Not to forget shale.
Last edited:
Sky lord
SENIOR MEMBER
- Joined
- Mar 20, 2015
- Messages
- 3,149
- Reaction score
- 1
- Country
- Location
Now that we have shale technology the price of oil will never go back to former heights, it can increase again from the current low, but once it reaches a point , shale becomes economical, so price won't go much higher than that.
Also technology keeps moving, who knows what comes next.
Also technology keeps moving, who knows what comes next.
Madali
SENIOR MEMBER
- Joined
- Mar 28, 2015
- Messages
- 2,717
- Reaction score
- 23
- Country
- Location
Frankly, Saudi Arabia would be the last country in the world that I would worry about in terms of Government budget.
Most countries in the world, tax their citizens through various means (income/sales/etc.) and they STILL run budget deficits every year. Which they finance by borrowing money from overseas.
Saudi doesn't tax their citizens, and they don't take loans, yet this is the first time in recent history in which they have had a budget deficit.
Anyway it's a part of Saudi's long-term game plan to flood the market and drive global oil prices down, in order to seize greater market share. Saudi can certainly afford it (with more than half a trillion in currency reserves), and I certainly can't complain, low oil prices are great for consumers worldwide.
After year of pain, OPEC is about to crush the U.S. shale oil boom | Financial Post
That might be true, but I think one of the reason that such reports exist is because there needs to be. a change (such as you mentioned, adding taxes) and change is always an unknown factor. What happens if KSA reduces subsidies? What happens if monthly allowance to the princes are reduced? What will happen if taxes are introduced?
Most economic reports claim that KSA will go bankrupt if nothing changes. This doesn't mean that KSA will go bankrupt but that KSA will be forced to make some changes. The question is then, how will these changes affect KSA and the region?
cirr
ELITE MEMBER
- Joined
- Jun 28, 2012
- Messages
- 17,049
- Reaction score
- 18
- Country
- Location
lol。
Russia isn't just rich in oil。
Russia is rich in everything，including human capital。Russian scientists are among the best in the world。
The Russians can live comfy if they just let the Chinese grow grains，fruits、veggies and livestocks for them。
Saif al-Arab
BANNED
- Joined
- Mar 26, 2015
- Messages
- 8,873
- Reaction score
- 5
- Country
- Location
KSA is extremely well-positioned to take advantage of future sources of alternative energy such as solar and wind. No further explanation is needed to why that is the case. Same with shale.
Anyway for all the talk about alternative energy sources etc. oil and gas is there to stay for the forceable future. Especially for the emerging economies which are getting bigger and richer all the time as the populations and thus middle classes in those country become stronger.
In any case KSA is very well positioned. KSA/GCC has 3 trillion dollars of assets just when it comes to sovereign wealth funds not to mention the numerous other investments. Or being the biggest "surplus-nation" on the planet. What is more important, the non-oil/gas sectors in KSA are constantly growing even despite obstacles such as the lack of privatization and legal stumble blocks.
Not to mention some unfavorable rules for business or the complete lack of TAXATION. Can you imagine any ordinary Western state with KSA's population not apply taxation to its 30 million or so citizens. Unthinkable. Of course that will one day end too in KSA and other GCC states as it is not economically foreseeable. Let alone the diversification. So for all I care, let the oil prices remain on this level for 1-2 years. This should force necessary reforms to occur quicker and eventually this will benefit KSA, GCC and other oil/gas producing countries if they can use the situation to their advantage.
Similar threads
