Saudi Arabia's Worst Financial Crisis in Decades

[ronwagn + 6,290]

Not only is Saudi Arabia in economic trouble, the whole world is, but those countries with the most dependence on high oil prices are in the worst shape.

RCW

https://wwwtelegraph.com/news/article/Saudi-Arabia-s-worst-financial-crisis-in-decades-15269299.php

Saudi Arabia's worst financial crisis in decades threatens prince's ambitions

Kareem Fahim, The Washington Post

 Published 5:12 am CDT, Thursday, May 14, 2020

[0R0 + 6,251]

It would be great for Saudis if their welfare programs were switched to technical and business education and seed money for business. Otherwise, their country simply has no future. 

 

[Jason Martin + 58]

Somehow I'm reminded of this. 

 

[BradleyPNW + 282]

Russia is in worse shape than KSA. We know because they cried uncle in the oil price war. Donald, fool that he is, bragged about creating a supply cut deal. But oil prices got Hulk smashed by a demand shock not supply. Thus, if Donald wanted to take care of his oil buddies he would have worked to manage a looming global pandemic starting way back in January. 

Of course, we all know Donald is a bumbling idiot so there was never any chance he could respond appropriately in the first place. Even though US intelligence agencies were warning Disaster Donald about the pandemic he only cared about refueling his narcissism with red hat rallies.