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KSA Economy About To Collapse?

KSA Economy About To Collapse?

Old Aug 6th 2015, 4:56 am
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Default KSA Economy About To Collapse?

https://uk.finance.yahoo.com/news/sa...215923665.html
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Old Aug 6th 2015, 10:25 am
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Default Re: KSA Economy About To Collapse?

One can only hope.

And good (I think) definition of rentier state here: https://en.wikipedia.org/wiki/Rentier_state

This exerpt is defining:
"According to Douglas Yates, the economic behavior of a rentier state:
embodies a break in the work-reward causation ... [r]ewards of income and wealth for the rentier do not come as the result of work but rather are the result of chance or situation."

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Old Aug 6th 2015, 11:08 am
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Default Re: KSA Economy About To Collapse?

Saudis, Russians, Iranians what a nice bunch, no tears shed with 98% of the world I wouldn't imagine.
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Old Aug 6th 2015, 11:36 am
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Default Re: KSA Economy About To Collapse?

Is everyone forgetting that the Saudis discovered Huge GOLD reserves and these have yet to be exploited. Saudi will not go bust.
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Old Aug 6th 2015, 12:03 pm
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Default Re: KSA Economy About To Collapse?

Originally Posted by themajor View Post
Is everyone forgetting that the Saudis discovered Huge GOLD reserves and these have yet to be exploited. Saudi will not go bust.
My first international project was on the Goldfields Madh Adh Dhahab goldmine, back in the 80's. Worked in an office in London, with an Ozzie QS called Bruce who was travelling/working the world with his girlfriend Sheila.
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Old Aug 6th 2015, 4:10 pm
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Default Re: KSA Economy About To Collapse?

Originally Posted by themajor View Post
Is everyone forgetting that the Saudis discovered Huge GOLD reserves and these have yet to be exploited. Saudi will not go bust.
gold is suffering the same fate as the oil right now. but just like the oil, it will bounce back.

44.22 USD a barrel at this very minute.
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Old Aug 6th 2015, 4:14 pm
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Default Re: KSA Economy About To Collapse?

Originally Posted by Millhouse View Post
gold is suffering the same fate as the oil right now. but just like the oil, it will bounce back.

44.22 USD a barrel at this very minute.
Not bad for a barrel of gold. I'll take 2, please.

What's oil going to bounce back to? $75 or more? And is that because shale not all it's fracked up to be?

And gold? If the events in the ME turn into major economic dislocation for the region, is that why gold will recover its attraction?

Bit brief, I know...
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Old Aug 6th 2015, 4:20 pm
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Default Re: KSA Economy About To Collapse?

Originally Posted by Bahtatboy View Post
Not bad for a barrel of gold. I'll take 2, please.

What's oil going to bounce back to? $75 or more? And is that because shale not all it's fracked up to be?

And gold? If the events in the ME turn into major economic dislocation for the region, is that why gold will recover its attraction?

Bit brief, I know...
actually, I don't believe in gold. it has no real use. given the shit everything is in and deflation all around, gold will be in trouble a while.

Oil, i've always thought it was a demand problem not a supply one - turns out it really is both now. All that said, the world needs oil (it does not need gold) and we will be burning it for many more years to come. I think the environmental issues on fracking will be what kills it eventually, but not until some massive disaster has unfolded.

We are at 44 USD now... It may touch something very low, but a long-term price has to be something about 60. That price is sustainable for the industry and consumer.
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Old Aug 6th 2015, 4:28 pm
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Default Re: KSA Economy About To Collapse?

Originally Posted by Millhouse View Post
actually, I don't believe in gold. it has no real use. given the shit everything is in and deflation all around, gold will be in trouble a while.

Oil, i've always thought it was a demand problem not a supply one - turns out it really is both now. All that said, the world needs oil (it does not need gold) and we will be burning it for many more years to come. I think the environmental issues on fracking will be what kills it eventually, but not until some massive disaster has unfolded.

We are at 44 USD now... It may touch something very low, but a long-term price has to be something about 60. That price is sustainable for the industry and consumer.
Very logical. Conventional oil recovery has had its fair share of disasters, but I guess because most of those have been offshore the NIMBY factor has been limited.

Gold just seems to be purely demand-driven, and given its lack of utility for most owners it will always remain a whimsical investment.

Having said that, as someone fairly well-known once said, "The markets can stay irrational far longer than you can stay solvent."
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Old Aug 7th 2015, 6:10 am
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Default Re: KSA Economy About To Collapse?

Originally Posted by Bahtatboy View Post
Very logical. Conventional oil recovery has had its fair share of disasters, but I guess because most of those have been offshore the NIMBY factor has been limited.

Gold just seems to be purely demand-driven, and given its lack of utility for most owners it will always remain a whimsical investment.

Having said that, as someone fairly well-known once said, "The markets can stay irrational far longer than you can stay solvent."
I can't see fracking really taking off in Europe as our environmental laws are much stronger than the U.S. when the U.S. finally frack under the water supply to NY or DC and pollute it then hell will break loose for the industry. Did you know that the water supply for DC is managed and operated by the military?

Of course. Short term, they are going to frack everything.
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Old Aug 7th 2015, 5:16 pm
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Default Re: KSA Economy About To Collapse?

Economic problems are the biggest driver of political unrest. Would really not want to be living in small nations next door if it all kicks off in Saudi. Definitely time to run before the bearded men on pickup trucks arrive.

Regardless, I am sure Dubai will still sell itself as a place of safety and stability, and some suckers will buy it.
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