Something's Going Seriously Wrong in Saudi Arabia

Comments · 1.6K

• SE

  @seekingdeen-i4o · 1 year ago

  I don’t understand them. Why would you spend trillions on stupid projects when you could transform your cities into walkable Arabian style cities for tourism switch to a mineral based system and try and diversify with REAL staples? Not a line in the middle of nowhere.

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• CI

  @ciroalberto397 · 1 year ago

  Saudi&apos;s oligarchy economic plan be like:<br>1) Spend money<br>2) Bring Cristiano Ronaldo<br>3) Profit 🤑

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• AM

  @amcluesent · 1 year ago (edited)

  “My father rode a camel, I drive a Bugatti, my son drives a Range Rover, and my grandson will ride a camel.”

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• OM

  @omarm-510 · 1 year ago

  Saudi is in the middle of the desert just to keep the land habitable must cost a fortune

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• AR

  @ArcanePath360 · 1 year ago

  Saw this coming about 10 years ago. All these grand designs were debunked at the time and were laughed at, yet they went full steam ahead

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• RO

  @Roderick1978 · 11 months ago

  You mean to tell me that spoiled princes were poor at financial management?

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• AD

  @adamkhattab4575 · 10 months ago

  Loving the random videos on the Dubai skyline talking about Saudi Arabia

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• GE

  @gedalyahreback2133 · 1 year ago

  Calling crypto a smart investment is a red flag

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• JU

  @Just4Kixs · 1 year ago

  Culturally too, Middle Eastern people LOVE to be fancy and show off wealth rather than living below their means in a modest life. Norway did it right as the Saudi way of living is very unsustainable by having luxury and expenses all the time. Eventually, if you invest in people and their welfare and meaningful economic reforms, you&apos;ll eventually turn into an international prestige country.

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• BA

  @bapzishere · 1 year ago

  Venezuela is a great case study of an oil rich country which didn&apos;t diversify , now all they have is oil.

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• GU

  @GuardianOfTranquility · 1 year ago

  Some narratives need correcting here:<br><br><a href="https://www.youtube.com/watch?v=fixObjhJQ3A&amp;t=215">3:35</a> - GDP/capita increased by 10x between 1967-77, not 2x as implied by the video (trading economics)<br><br> <a href="https://www.youtube.com/watch?v=fixObjhJQ3A&amp;t=370">6:10</a> - your metric of choice (essentially adjusted GNI) is a measure of output, not income. So it’s a stretch to say that incomes fell by 20% just because output did, especially for the Saudi economy.<br><br><a href="https://www.youtube.com/watch?v=fixObjhJQ3A&amp;t=510">8:30</a> - equating Russia invading Ukraine and falling oil prices is disingenuous and kind of the opposite of what actually happened. Oil prices were below $75 prior to the invasion and then spiked to &gt;$100 in the immediate aftermath - this actually benefitted Saudi Arabia, and the fall since is a market recovery from the invasion, not a direct result of it.<br><br><a href="https://www.youtube.com/watch?v=fixObjhJQ3A&amp;t=612">10:12</a> - interest on credit default swaps temporarily peaked in April and quickly fell again - they are back at c. $60 today, so it’s very misleading to end the chart in April.<br><br><a href="https://www.youtube.com/watch?v=fixObjhJQ3A&amp;t=630">10:30</a> - I think you calculate that Saudi has c. $300bn of debt so an extra $10bn a year would require a 3.5% rise in debt costs (the ‘few % rise’ you mention). However, only 20% of Saudi’s debt is variable - 80% is fixed - so really this would need to be an unprecedented 15-20% rise.<br><br>I’m all for an economic discussion on Saudi Arabia but this seems to be finding data to pedal a narrative instead of the other way around.

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• NE

  @nevad34 · 1 year ago

  their problem is lack of critical thinking they never had to work for money just had to pump it

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