Peak Oil is You
Donate Bitcoins ;-) or Paypal :-)
Page added on October 11, 2019
Saudi Arabia’s economic realities after oil attacks
The attacks on Saudi oil facilities at Khurais and Abqaiq last month revealed devastating weaknesses of domestic defense and leadership on the Saudi side, fissures within the Saudi-US relationship and an abdication of the US security umbrella. An act of war and an attack on global energy infrastructure has been met with a muted response from global oil markets. But we should not measure the severity of the attacks in oil prices. That is the wrong metric. Oil prices reflect a short-term view based on weakening demand and oversupply; geopolitical risk seems hardly factored in.
Analysts at Standard Chartered find that September was the third consecutive month of year-on-year oil demand decline, the first time since 2009. Over the past 10 years, oil demand has risen in 113 months and fallen in just seven, but five of those seven declines have been in the last eight months. There is evidence of a growing threat to overall global growth, stymied by the US-China trade war and exacerbated by the systematic undermining of American credibility to defend the Persian Gulf region and act as the steward of an open global economy. The muted reaction to the attacks sets a precedent, increasing the risk environment in the Persian Gulf and the Red Sea corridor among allies and partnerships from NATO to Asia. It is very dangerous, as the CEO of Aramco, Amin Nasser, argued that the risk of another attack is increased by failure to respond.
What the attacks mean for the Saudi economy
While the attacks pierced a veneer of stability in the global economy, they also expose the extreme domestic economic vulnerability of the kingdom. Now, perhaps more than ever, the Saudi economy is dependent on oil revenues to fund public spending, and public expenditure is the lifeblood of the Saudi economy. The rise in oil prices in 2018 gave some hope that the government had more cash to spend. The pipeline of planned and underway projects in the kingdom stands at roughly a trillion dollars in value, but absent foreign direct investment, the plans are largely dependent on government spending for completion.
The largest development projects underway are mostly in the construction sector, rather than major investments in the oil and gas sector, power and water infrastructure or the industrial sector. Investments in the oil and gas and petrochemicals sector have also been relatively sluggish, despite their centrality to economic survival. The oil and gas and petrochemical sectors in Saudi Arabia have not been able to accelerate investment or contract awards for new projects in line with previous periods of growth, as contract awards are down 50% from their peak in 2009-2012, according to MEED.
Where there are new projects that link oil production to petrochemicals, we also see the extension of new political partnerships, as in the expansion of Chinese investment at Yanbu. There are new, closer links to Russia, including the Russian Direct Investment Fund’s announcement to open an office for the sovereign wealth fund in Riyadh along with the “consideration” of a joint venture with Aramco in domestic oil services projects. The new partnerships are a natural reaction to a perception of vulnerability and a logical extension of shared economic interests, but they are an insufficient defense of regional stability.
Projects in newer, more experimental areas like tourism and entertainment have priority, while industrialization and growth in the diversified petrochemicals sector ranks second. The megaprojects (and most of these are not off the ground) are dependent on a favorable investment and political risk climate. They will require new international visitors as tourists, those who may think twice about visiting a resort in the sightlines of Iranian drones and missiles. Moreover, the Red Sea resort of Amala and futuristic Neom are vulnerable to climate change in the medium and longer term.
Diversification by hollowing out Aramco
Moreover, we are seeing the transformation of Aramco (and subsequent hollowing out of Aramco) as it is no longer a preferred developer in the kingdom. For example, the Public Investment Fund has taken a 40% stake in the Jasara Program Management Company, a shared venture with an international project consultancy and Aramco, to develop new megaprojects and become a recipient of contract awards and state spending. Aramco’s role is now more a source of investment and revenue to fund these domestic projects.
The plan to list 1% of Aramco on the local Tadawul stock market will likely raise about $15 billion for the government (or $20 billion, with a more optimistic $2 trillion valuation of Aramco), hardly a sum that will make a dent in the trillion dollar project pipeline, or even foot the bill for the $80 billion planned investment in nuclear power production. Higher government spending is creating some growth in non-oil GDP (up nearly 3% year on year), but this is driven by the state, not FDI or private sector growth. FDI has been in a decadelong declining curve, from a high in 2008 of nearly $40 billion to a low in 2017 of just over $1 billion, recovering slightly in 2018 to $3 billion of inflows.
Green shoots in finance
As a growth area of non-oil GDP, there is some positive movement in the financial sector. Banks are some of the largest firms on the Tadawul, but they also find it hard to grow and be profitable, as interest rates are low and most banks’ income is derived from interest rate margins. But there is room to grow in the offering of financial products. Some expectation of growth is in an expanding domestic debt market for mortgages, but also the domestic debt market will be a source of finance for the government as it continues to use debt financing for its fiscal outlays, perhaps relying more on domestic sukuk issuance than international capital markets.
There is a noted increase in portfolio inflows, thanks to a new classification under emerging market index inclusion. Saudi Arabia now has 31 Tadawul-listed companies (many of them partially state-owned) included in the MSCI index, with a weight of 2.8% of the index. The shift in the regulatory framework is more important, as foreigners (and institutional investors) have traded more than $65 billion in Saudi stocks and been net buyers of more than $20 billion in Tadawul listed shares in 2019. But, moving more privatizations onto the Tadawul has been slow to progress, with the key focus on the listing of Aramco shares next year. In October, the government announced foreign firms have the option to list on the Tadawul.
Growth depends on favorable investment climate, planning for future generations
All of these initiatives are linked to the vulnerability of the country’s political risk profile, and the long-term challenge of demographics and intergenerational equity. And the latter is the key to sustainable growth. There is a generational equity gap in Saudi Arabia that will be nearly impossible to close without a serious shift in fiscal policy. There is a cliff edge as far as oil revenues are concerned, either because of declining oil demand or eventual depletion of reserves. And the current preference for domestic spending as a drawdown on foreign reserves, borrowing to fund domestic development, and a lack of coordination or attraction of FDI to fund major national development projects, along with the continued difficulty of the labor market, all point to a burden on the state.
Saudi Arabia needs to reduce public spending to preserve and invest that wealth to provide for future generations — this is their generational equity gap. Unlike in Norway or Kuwait, where a portion of oil revenues are mandated by law to be saved or invested, Saudi Arabia’s national wealth is more and more fungible and at the disposal of the leadership. Interestingly, between 2014-2017 spending was curbed sharply, by 10% of GDP in that period, but has since increased as fiscal stimulus, absent major foreign (or private and local) investment. Current oil production can continue for 60 years, but oil price stability (especially at an over $70 break-even price) and demands of demographics challenge how far those revenues can stretch.
The current youth bulge will age, and it will not be replaced with a younger working population to support it as the birthrate declines. This generation is also likely to be a burden on public health expenses given the trajectory of increases in diseases like diabetes, as well as rising costs of social welfare provisions, especially given the current track record of a skills-mismatch for private sector job growth. The labor market challenges are documented clearly in a report by the Kennedy School for the Saudi Ministry of Labor. According to World Bank data, over 25% of young people (age 15-24) are unemployed, yet more than 40% of those seeking work have a college degree.
The key conclusion is that Saudi Arabia’s vulnerability and lifeline remains its energy sector, which is less protected by the United States, and more frequently used as honey pot of current domestic spending needs, rather than a resource for future development and future generations. And even if it can be leveraged to invest in longer-term investment needs, it is not clear that the priority spending in domestic construction projects and “megaprojects” is the right choice to resolve the intergenerational equity gap.
57 Comments on "Saudi Arabia’s economic realities after oil attacks"
Fly Boy on Fri, 11th Oct 2019 4:18 pm
Drones are cool.
Cloggie on Fri, 11th Oct 2019 5:07 pm
It looks like multicult died a sudden death tonight:
https://nos.nl/l/t/2164443
Erdogan launched a scathing attack against Europeans in general and Dutch and Germans in particular. He accused Europe of being “racist, fascist and cruel”. He predicted that Europeans would nowhere be safe anymore if they continued with their criticism (Kurds treatment).
Difficult to imagine continuation of Turkish EU ascession talks.
#FortressEurope
makati1 on Fri, 11th Oct 2019 5:25 pm
Doesn’t the West realize that their time is over? That the unipolar world is history? That the new world is multi-polar and the East is the new center? Ah well, ignorance is bliss, I guess.
Cloggie on Fri, 11th Oct 2019 5:36 pm
“Doesn’t the West realize that their time is over? That the unipolar world is history? That the new world is multi-polar and the East is the new center? Ah well, ignorance is bliss, I guess.”
The West knows very well that western global dominance is over, except perhaps a few fools in Washington.
The official policy of the EU is btw multipolar world. Their imperial days ended in 1945, to be replaced by the US empire, that in its turn died with the retreat of DJT from Syria.
Turkey feels strong and is encouraged unintentionally by Trump to expand southwards.
We in Europe should overthrow the US-leaning globalist left, team up with Russia and install Fortress Europe and rearm.
makati1 on Fri, 11th Oct 2019 5:58 pm
“We in Europe…” are part of the failing West, Cloggie. “Europe” will be lucky to survive the next crash…which seems to be happening in slow motion. The EU’s days are numbered.
Debt is killing it just as debt is killing the US. DEBT is the new enemy of the West and cannot be avoided as it already exists in huge amounts that can never be repaid. Even Germany, the main support for the European economy is dying.
The future is not going to be what you want or expect. perhaps I am wrong, but all of the signs point to a total collapse of the West and a strong, growing, East. I hope you are preparing for it.
Duncan Idaho on Fri, 11th Oct 2019 6:10 pm
“William Faulkner writes about how bemused American Indians were to see White men chopping down forests and doing field work, despite the abundance of game. “They love to sweat” was one theory.”
Sissyfuss on Fri, 11th Oct 2019 6:22 pm
Duncan, if the natives were really astute they would have noticed that the Europeans also believed in acquiring as much property and resources as possible irregardless of who was occupying said property.
Duncan Idaho on Fri, 11th Oct 2019 6:25 pm
kakistocracy (plural kakistocracies)
Government under the control of a nation’s worst or least-qualified citizens.
Davy on Fri, 11th Oct 2019 6:44 pm
“National Geographic Admits Billions Of People Will “Face Shortages Of Food And Clean Water” Over The Next 30 Years”
https://tinyurl.com/y5ho9842 economic collapse blog
“National Geographic is admitting that up to five billion people could soon be facing “shortages of food and clean water”…As many as five billion people, particularly in Africa and South Asia, are likely to face shortages of food and clean water in the coming decades as nature declines. Hundreds of millions more could be vulnerable to increased risks of severe coastal storms, according to the first-ever model examining how nature and humans can survive together. “I hope no one is shocked that billions of people could be impacted by 2050,” says Rebecca Chaplin-Kramer a landscape ecologist at Stanford University. “We know we are dependent on nature for many things,” says Chaplin-Kramer, lead author of the paper “Global Modeling Of Nature’s Contributions To People” published in Science.”
supremacist muzzies jerk on Fri, 11th Oct 2019 9:13 pm
Davy on Fri, 11th Oct 2019 6:44 pm
supertard, you have all the cool links and all i have is a lousy link like the following
https://www.newsweek.com/plastic-pollution-inaccessible-island-south-atlantic-chinese-ships-1462642
please accept my meager offer in return. i hope it will be an enjoyable reading for you.
DerHundistLos on Fri, 11th Oct 2019 9:31 pm
Mak-
Your analysis fails to consider the state of the environment in Asia, which is in terrible condition except for Japan.
The once bountiful fish stocks of Asia have been replaced with an invasion of jellyfish.
Virtually all of the virgin forests of Vietnam and Philippines are now history. Vietnam is now cleaning out Laos and Cambodia.
The Chinese are traveling as far as South America for wildlife to “feed” their insatiable demand for Chinese medicine and bush meat. Recently, a tribe of natives caught a group of twenty something Chinese poachers in Colombia who had set up an elaborate network of traps. Big, big error. The Chinese trespassed on a native tribe of highly aggressive warriors who also worship the earth. The result: The heads of the Chinese were delivered to the Chinese consulate office in Cali.
Cloggie on Fri, 11th Oct 2019 9:45 pm
“The result: The heads of the Chinese were delivered to the Chinese consulate office in Cali.”
…and probably directly processed in one of the many delicious Chinese dishes.
Cloggie on Fri, 11th Oct 2019 10:06 pm
“PETER OBORNE: Not since Disraeli has a PM made such a cunning U-turn as Boris accepts that a deal must be struck with Brussels despite bluster”
https://www.dailymail.co.uk/debate/article-7564523/PETER-OBORNE-Not-Disraeli-PM-cunning-U-turn.html
“ As a result, the deal he now proposes is based on the one agreed by Theresa May a year ago and fashioned by her EU negotiator Sir Olly Robbins.
Their work has not been wasted. Quite the opposite.”
Exactly, mrs May, the present day Chamberlain and “reluctant European”, dutifully did the real work, where this punk, imposter and embezzler of “pubic funds” makes a lot of noise, refuses to support her, gets PM himself as a result… only to sign the same deal. The cynicism knows no bounds.
“Yes. We are talking about the document supported consistently by this newspaper earlier this year but knocked back by die-hard anti-EU Tory MPs and by a mindless Labour Party.”
That’s why I have been quoting this newspaper all along for many months as one of the more reasonable ones in the entire UK, a landscape of vicious press bloodhounds.
While the rest of this board kept being impressed by the non-issue of “peakoil”, I meanwhile preferred keeping to document the initial stages of the dismemberment of the shitpile aka the West, that is Brexit.
As I have said numerous times before: just sign at the cross Boris, take your hat and mind the step on your way out of the white world, you arch-globalist. Good riddance to you and don’t forget to wipe that sperm of your trousers. Mrs May was always one of the few decent people left in Westminster and we’ll keep her in honor. She was right all along, and so was the EU, your new senior. Now the road is clear for an EU army, improve relations with Russia.
Cloggie on Fri, 11th Oct 2019 10:23 pm
The true Brexiteers in the comment section hate it.lol:
“Boris has been all bluster and no substance. He is just another politician who promised so much and then delivered so little. This Deal is just the May vassal Deal with a change to the backstop that keeps us under EU control and makes us pay a vast amount of money for the privelidge. We have been duped folks.”
Pro: 634
Con: 60
ROFL
Michael Barnier, the hero of the day.
The UK is NOT going to be the 51st US state after all, against the preference of the commoner Brexiteers…
https://documents1940.wordpress.com/2019/10/06/eu-get-serious-with-your-army/
…while Moscow-oriented neo-Gaullists like myself get the UK out of the way, the eternal saboteur of Europe (WW1, WW2) and can begin to repair the white world from the immense damage inflicted by Anglo-Zionism, get the upper hand over the Anglos and restore European power and grandeur and reinstall the natural hierarchy of the Mozart-society over the Johnny Cash-society.
makati1 on Fri, 11th Oct 2019 10:43 pm
I have posted two replies to above comments, but they do not show up here? Censorship or glitch in the site?
joe on Fri, 11th Oct 2019 10:46 pm
dude, if you think that for one second that the irish loyalist community will accept Mays deal then you have no idea whats hitting you. Who will appoint Northern Irelands commissioner? Will they even have one? No taxation without representation. Consent of the governed is the principle. Will Merkel pay for Irish reunion and maintain that unity forever? Irelands economy is entirely based on the fact that its a tax haven as John Mc Cain once correctly noted. The EUSSR will shut down Irelands tax operations, and Ireland has no other major incomes outside of agriculture and tourism. Ive never seen a study (though im sure somone has) showing how much the entire island of ireland benefits from UK cash injections annually into Northern Ireland. Theres also the concept that with Northern Ireland half in and half out that the whole Island of Ireland would be suspect in trade terms and third party countries would be right to impose customs checks, as in a reality where the border actually develops not in the Irish sea but in Rotterdam and Calais etc as it would be clear to anyone with eyes that work. The true impact of this deal would be to in effect take the whole island of Ireland out of the customs union under the fiction that northern irelands goods must be checked. Mays deal was shot down three times before because of this. The half in half out idea was deemed unworkable. The border will be in the Channel and North Sea, despite any ‘deal’.
majece majece on Fri, 11th Oct 2019 10:47 pm
I think that on https://bestparentalcontrolapps.com you can read more about Parental Controls. I had such experience recently
Davy on Fri, 11th Oct 2019 11:12 pm
You know majece, I think we need parental controls around here myself in a big way. If we had those, I would have been locked out of here years ago and PO.com, as much as I hate to admit this, would have been a far better place for it.
Sign me up!
Davy on Sat, 12th Oct 2019 2:04 am
“Davy Admits Billions Of his Brain cells Will “Face Shortages Of rational thought and even common courtesy” Over The Next 30 Years”
https://tinyurl.com/davydfumbass\asdsad2 f3r3ercsfewfwe
“Davy is admitting that up to five billion of his brain cells could soon be facing “shortages of oxygen and vital nutrients”…As many as five billion cells, particularly in his prefrontal cortex and cerebellum, are likely to face shortages of rational thought in the coming decades as his mean-spirited nature rears its exceptional head. Hundreds of millions more could be vulnerable to increased risks of random spastic bouts of neural activity, according to the first-ever model examining how a freak of nature like davy can even survive. “I hope no one is shocked that davy could be alive in 2050,” says JuanP a frequent poster at PO.com . “We know we are dependent on internet for many things but davy worthless opinions are not one of them,” says JuanP, lead author of the paper “Global Modeling Of this loudmouth Prick-faces Contributions To the decline of PO.coms unmoderated comments are” published in PO.com.”
Cloggie on Sat, 12th Oct 2019 3:32 am
“I have posted two replies to above comments, but they do not show up here? Censorship or glitch in the site?”
Glitch.
I have it all the time.
Cloggie on Sat, 12th Oct 2019 3:42 am
Turks attack Americans, probably on purpose:
https://www.dailymail.co.uk/news/article-7564421/Explosion-near-U-S-military-outpost-northern-Syria-U-S-official.html
“‘The Turks KNEW we were present’: Pentagon counters Turkish claim that attack on US troops in Syria was ‘a mistake’, as it reveals American soldiers have NOT withdrawn from Syria despite Trump’s orders”
The Turks are determined to ruthlessly solve their Kurd-problems, by outright ethnic-cleansing of at least 30 km deep into Syria and stretching for hundreds of km along the Turkish-Syrian border and replace them with these 3.6 million Arab-Syrian refugees, currently in Turkey. This move will end any Greater Kurdish aspiration of founding a Kurdish state, based on Kurds living in Turkey, Syria, Iraq and Iran.
This kind of determined behavior, defying US threats of “bringing down the Turkish economy”, could be explained by Turkey and Iran having a secret agreement about dividing the Middle-East between them, most of all KSA.
US influence is in a tail-spin, world-wide.
The EU URGENTLY needs to set up an army and organize the largest military parade in world history, just to make a point. Do it in Paris.
Cloggie on Sat, 12th Oct 2019 4:04 am
“if you think that for one second that the irish loyalist community will accept Mays deal then you have no idea whats hitting you.”
The DUP can be outvoted by defectors from Labour and even LibDems.
https://www.independent.co.uk/news/uk/politics/boris-johnson-news-latest-brexit-deal-talks-eu-barnier-tunnel-a9151946.html
It can be made clear to the Loyalists that the alternative, a no-deal Brexit and reinstallation of a hard border could, prompt renewed IRA-violence and a drive for Irish reunification (that is long overdue anyway).
https://www.dailymail.co.uk/news/article-7564833/Boris-Brexit-boost-deal-possible-days-green-light-weekend-negotiations.html
“Boris Brexit boost as Brussels says deal is ‘possible in days’ with green light for a weekend of negotiations ‘as PM agrees to a customs border in the Irish Sea’ and the DUP do not torpedo the plan”
These Ulsterners can and should be arm-twisted, in their own long-term interest.
Democratic Unionist Party leader Arlene Foster, whose support will be key to getting a deal through Parliament, fired a warning shot at the Prime Minister last night when she insisted she would block anything that ‘traps Northern Ireland in the European Union, whether single market or customs union, as the rest of the UK leaves’.
But crucially she also said she was willing to be ‘flexible’ and indicated she could support proposals that see Northern Ireland treated differently to the rest of the UK if they have the backing of people in the province.
Hardline Eurosceptic Tory MPs provided further optimism that there might finally be the numbers to get an agreement through the Commons when they said they were not ruling out supporting the suggested changes.
The DUP can be bought with a bridge or an offshore wind park or something.
Cloggie on Sat, 12th Oct 2019 7:50 am
Real estate prices in Europe are on average booming:
https://www.spiegel.de/wirtschaft/unternehmen/immobilienboom-in-europa-deutschland-nur-im-mittelfeld-a-1291058.html
Top of the bill Eastern Europe, Netherlands, Portugal. Germany and France in the middle, UK and Italy at the bottom.
Cloggie on Sat, 12th Oct 2019 7:56 am
Growing chances that conservative Merz could succeed Merkel, rather than her clone Kramp-Karrenbauer:
https://www.spiegel.de/politik/deutschland/friedrich-merz-laesst-sich-bei-der-jungen-union-feiern-a-1291232.html
Davy on Sat, 12th Oct 2019 8:00 am
Clogo’s euroland has huge dangers ahead from an inflated property bubble and failing banks. Cloggo thinks this is great
“Which Cities Have The Highest Risk Of A Housing Bubble?”
https://tinyurl.com/y2xz48zj statista
https://tinyurl.com/y3qwdu9k zero hedge
“Munich was deemed the city with the highest risk of a housing bubble developing in a recent survey released by investment bank UBS. Other cities at risk include Amsterdam, Toronto, Vancouver and Frankfurt, placing two Canadian and two German cities in the top 7. Statista’s Katharina Buchholz notes UBS determined their risk index by looking at the ratios of housing prices to rent, housing prices to income, the increase in mortgage payments to the increase of GDP, the increase in construction spending to the increase of GDP and, finally, the ratio of housing prices in the city and the surrounding areas.”
Davy on Sat, 12th Oct 2019 8:05 am
Did I mention I’m moving to Italy when the SHTF hear in the US?
I think I might of.
Davy on Sat, 12th Oct 2019 8:12 am
Hay wait a minute. Isn’t Italy in euroland?
I’m not sure but I think it might be.
Cloggie on Sat, 12th Oct 2019 8:18 am
“ Did I mention I’m moving to Italy when the SHTF hear in the US?
I think I might of.”
Great plan.Italy has real estate prices even goat farmers can afford:
https://www.italianfix.com/italy-giving-away-houses/
https://1eurohouses.com/
Davy on Sat, 12th Oct 2019 8:56 am
LOL, I might move to Italy might not. Does that trigger you two failed examples of humans that much? What a couple of dumb fucks. JuanP acts like that matters. Not sure why? He just thinks it sounds good. cloggo acts like that makes euroland special because I might move there. You two should worry about where you live. cloggo lives in the most densely packed part of the world heading for the bottom of the ocean and juanpee is in south Florida hell hole heading for the bottom of the ocean. juanp thinks he will bob on out when SHTF but it is more like he will be stranded. I doubt he has the opportunity to go home anyway considering his family has kicked him out. He says he is rich but I imagine that is more of his phony self-aggrandizement.
Dredd on Sat, 12th Oct 2019 9:26 am
When will the peak of the oil wars happen (The Peak Of The Oil Wars – 15)?
Is Saudi Arabia part of it?
Cloggie on Sat, 12th Oct 2019 9:41 am
“cloggo acts like that makes euroland special because I might move there. You two should worry about where you live. cloggo lives in the most densely packed part of the world heading for the bottom of the ocean”
You will be in Italy way before I’ll be at the bottom of the ocean (currently I’m living at +17 meter.lol). You will be telling everybody how much you love Europe and Italy in particular and how glad you are you have managed to escape ZOG-USA and that DNA-tests have shown how much Italian DNA you have and that Mussolini wasn’t that bad after all.
Cloggie on Sat, 12th Oct 2019 9:55 am
“As Went the British, So Will Go America’s Empire”
https://www.theamericanconservative.com/articles/as-went-the-british-so-will-go-americas-empire/
Cloggie on Sat, 12th Oct 2019 9:58 am
“China is a sleeping giant. Let her sleep, for when she wakes she will move the world.” Napoleon Bonaparte
https://ericmargolis.com/2019/10/making-china-great-again/
“Making China Great Again”
JuanP on Sat, 12th Oct 2019 10:41 am
The most important reality that the Saudis need to understand is that all those billions spent on weapons made in the USA were a huge waste. Saudi Arabia can’t protect itself from cave dwellers wearing flip flops! The most important lesson learned from this attack is that all US defense systems are completely useless and the USA has absolutely no way to defend itself from its enemies. I am sure that the Chinese and the Russians got the message loud and clear, and are very happy about it.
Duncan Idaho on Sat, 12th Oct 2019 10:45 am
“Margolis identifies his politics as “Eisenhower Republican”. Though his domestic political persuasion is moderately conservative (he is a staunch anti-communist and a supporter of capitalism)”
In other words, a clueless idiot..
Cloggie on Sat, 12th Oct 2019 11:12 am
The New America latest:
“(he is a staunch anti-communist and a supporter of capitalism)”
In other words, a clueless idiot..”
Our Duncan is yet another Dems fanatic, like our Apneaman/I AM THE MOB of former fame.
The number of people in the US who agree and oppose the opinion, encapsulated in the quote above, hold each other roughly in the balance, with no reconciliation in sight. Au contraire…
This is extremely good news (for Eurasia, that is). The Anglo-Zionist problem is solving itself. Expect considerably more firework than in 1989-1991.
#393MillionGuns
Davy on Sat, 12th Oct 2019 11:23 am
“The most important reality that the Saudis need to understand is that all those billions spent on weapons made in the USA were a huge waste.”
Fuck nut, the same is true for most of other nations so what is your point? OH, I know you hate the KSA and the US. No shit so can’t you be intelligent and balanced with something more or just tell us you hate them up front? IMA Hate the US until that check comes in from your ill-gotten gains.
“Saudi Arabia can’t protect itself from cave dwellers wearing flip flops! The most important lesson learned from this attack is that all US defense systems are completely useless and the USA has absolutely no way to defend itself from its enemies.”
Sure they can stupid they just have not mustered the will to go after them with extreme prejudice. All you said there is the same thing above. You hate the KSA and the US. BTW, you know absolutely nothing about military maters as the above comment attest to. What a GED LOW IQ 3rd world idiot.
“I am sure that the Chinese and the Russians got the message loud and clear, and are very happy about it.”
WTF do you know what the Chinese and Russians are thinking, stupid. Russians like KSA and want to befriend them as does the Chinese. Don’t let that stop you being a blind binary idiot you are. BTW, why did you decide to come out of your troll mask. Where is spuremio muzzle jerkoff and his nonsense?
Davy on Sat, 12th Oct 2019 11:28 am
“Our Duncan is yet another Dems fanatic, like our Apneaman/I AM THE MOB of former fame.”
Idaho is one of those hypocritical rich extremist liberals that thinks is shit smells like perfume. He is the kind of guy supporting all kinds of extremist liberal shit except where it hits his pocket book or his favorite destinations. I knew he was a worthless shit when he was talking to GregT (another worthless shit) about fly fishing on the copper. These types of people are deranged Trump haters and that believe anything goes including destroying the fabric of the nation. He would in burn up the constitution and bill of rights in a heart beat if he could get his way
Davy on Sat, 12th Oct 2019 11:32 am
“You will be telling everybody how much you love Europe and Italy”
dumbshit, when did I say otherwise? What I don’t like is your card carrying asshole attitude about how wonderful your place is and how bad mine is. You have the most disgusting attitude of nearly anyone on this board except makato and dumbass 3rd worlder juanpee. You talk yourself up endlessly and my people down endlessly.
Cloggie on Sat, 12th Oct 2019 11:33 am
“End of the West saga”
https://www.youtube.com/watch?v=63hvBqfa5kE
Westminster outside live.
#SuperSaturday
Davy on Sat, 12th Oct 2019 11:33 am
“China is a sleeping giant. Let her sleep, for when she wakes she will move the world.” Napoleon Bonaparte”
china is a dead man walking and taking the world with her…Davy
Duncan Idaho on Sat, 12th Oct 2019 11:34 am
Phil Ochs – Love Me I’m A Liberal
https://www.youtube.com/watch?v=0nFvhhCulaw
Duncan Idaho on Sat, 12th Oct 2019 11:44 am
A more contemporary liberal:
https://www.youtube.com/watch?v=F7-FMI3Y25I
Cloggie on Sat, 12th Oct 2019 11:57 am
The Brexit disco album is out:
https://www.indy100.com/article/brexit-disco-concept-album-listen-the-hustle-9151671
Pump up the volume and feet off the floor!
Sissyfuss on Sat, 12th Oct 2019 12:13 pm
Clobotomy, China may be a sleeping giant but that didn’t stop it from soiling it’s own nest. As trade slows down is the behemoth going to stir when its increasing oil imports makes it impossible to drag its ubiquitous peasants into the middle class? Or will it to continue to pick on the Lilliputians around the globe to keep its larder full? Limits to Growth includes all, both the rich and the poor. And most especially the bullies.
Robert Inget on Sat, 12th Oct 2019 2:28 pm
END Mid East Wars (says Trump)
Trump says he’s ending the US role in Middle East wars. He’s sending 1800 troops to Saudi Arabia.
Vox
Trump says he’s ending the US role in Middle East wars. … It’s also seen Iran bomb oil tankers in strategic waterways and oil fields in Saudi Arabia, …
Unless KSA can talk Trump into sending tens of thousands of American Troops, KSA is a dead letter of world history.
But wait.
Even if Saudi Arabia changes hands, it still needs to sell its chief export.
supremacist muzzies jerk on Sat, 12th Oct 2019 2:43 pm
Davy on Sat, 12th Oct 2019 11:33 am
napoleon doomed lack of knowledge of muzzies
supertard loves muzzies
same outcome
Cloggie on Sat, 12th Oct 2019 3:02 pm
“China may be a sleeping giant but that didn’t stop it from soiling it’s own nest. As trade slows down is the behemoth going to stir when its increasing oil imports makes it impossible to drag its ubiquitous peasants into the middle class? Or will it to continue to pick on the Lilliputians around the globe to keep its larder full? Limits to Growth includes all, both the rich and the poor. And most especially the bullies.”
Makati is he China fan here, not me.
I consider China to be the long term threat for the Glorious Aryan Man, not you.
Don’t take it personal.
joe on Sat, 12th Oct 2019 3:06 pm
DUPs deputy leader Nigel Dodds pours cold water on Brexit deal.
“https://news.google.com/articles/CBMiQ2h0dHBzOi8vd3d3LnJ0ZS5pZS9uZXdzL2JyZXhpdC8yMDE5LzEwMTIvMTA4MzAwNC1kb2Rkcy1icmV4aXQtZGVhbC_SAR9odHRwczovL3d3dy5ydGUuaWUvYW1wLzEwODMwMDQv?hl=en-IE&gl=IE&ceid=IE%3Aen”
There possibly might be enough rebel Tory votes to run a deal close, afterall the third go at Mays deal very nearly passed and even BoJo voted FOR that deal. However if you take away the existing tory majority of minus 43 votes and also dump the ten DUP votes, then Boris Johnson is looking to flip allot of Labour votes, and now that Corbyn is a reVoter post general election (watch out for flip on that too) so he can stop hemoraging remoaner votes to lib dems, then it seems as if Corbyn understands somthing is going to happen next Saturday that nobody has offically acknowledged, that this ‘deal’ is doomed to fail, it is in fact designed to do so and its certain that there is no way that a real deal can be accorded and passed into law by Oct31, therfore an extension is required. However in my opinion the EUSSR will not extend without extracting certain assurances from the UK such as ending the current impasse and securing a majority (they wont be so bold as to demand a rerun). The only way forward then is for John
Bercow to approve another standing order 24 emergency debate (more rule bending) and permit the coalition of Labour, Lib Dems, SNP and Plaid Cumru to revoke Art 50, which would be nothing less than a coup. Anything less will not allow the EU to offer any further extension imho. The Benn Surrender act must be carried out on Oct 19th, the day parliament sits. This will be the day that the coup will happen and its gonna happen all over the BBC and CNN and Fox News, for whole world to see. Even if they revoke or rerun a referrendum, nobody will vote in it and in the following General Election any party who swears to invoke Art50 and leave immediately will be a sure thing. The remoaner s position is in fact hopeless but they are too blind to see it. Mrs Merkel and Mr Macron will not want be associated with such a coup and will back down and let the UK leave.
Cloggie on Sat, 12th Oct 2019 5:11 pm
That’s a fascinating scenario, joe esquire!
Pity though you made it unreadable because of that stupid long google link, you included. Now we will never know how smart it was what you wrote up there.
Or stupid.