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Page added on May 15, 2020

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Saudi Arabia loses its wealth

Public Policy

On Monday, Saudi authorities announced unprecedented measures to salvage its finances from an imminent meltdown, caused by mismanagement rather than simply the coronavirus pandemic or the collapse of oil prices, Middle East Eye writes in the article Saudi financial crisis will spark resistance to plundering of state. From July, an increase in VAT from five percent to 15 percent and the suspension of the cost of living allowance (a monthly 1000 rials/ $266) are both desperate attempts to rescue an economy that has been plundered for generations. 

The ultimate solution

This move is just the beginning as the government may resort to the ultimate solution, by slashing jobs in the Saudi public sector, cutting the salaries of existing state employees or simply finding itself unable to pay them at all. With oil prices showing no sign of improvement, and the coronavirus still raging across the globe and inside the country, it is not certain that the new increase in VAT and the suspension of living allowance will generate enough savings for the state to compensate for serious losses. However, both new measures are desperate attempts to shore up revenues at a time when the main commodity, oil, is increasingly becoming cheaper than water in the desert kingdom. The political implications of the crisis surpass these limited and desperate measures that in themselves will never be enough to halt the slide towards the unknown.   The so-called Saudi social contract is believed to rest on a bargain. The government provides extensive services such as jobs in the public sector, education, housing, and health. In return, citizens continue to pledge allegiance to the leadership.

Ideology vs economy

Throughout the last century, most opposition to the Al-Sauds was articulated in ideological terms not especially connected with the domestic economic wellbeing of the people. Both Saudi Arab nationalists and Islamists launched ideological challenges to the state based on a discourse that touches on the identity of the state rather than its economy or finances. Nationalists challenged it on the basis of its connections with imperialist and Western projects, while Islamists preoccupied themselves with questions of authenticity, Islamic heritage and commitment to global Islamic revival, seeing oil in the hands of the state as an enabling mechanism to pursue such projects. Under such grand ideological projects, and while the state continued to pay citizens’ salaries and provide sub-standard services, the mismanagement of the economy continued and was elevated to new levels.  However, with renewed economic hardship and falling living standards, brought about by the squandering of wealth in the pursuit of futile projects, and the imposition of new taxes, critical voices may be alerted to new conditions that touch upon their own life.

Where did all the money go?

Domestically, from Vision 2030, National Transformation Programmes, to futuristic cities, billions of dollars have been wasted without any form of accountability. Saudis are certain to lose their enthusiasm for grand mythical projects that are the product of a sinister propaganda machine and the grandiose illusions of the crown prince.   Now the leadership is asking Saudis to tolerate austerity measures.  The leadership remains silent over the secret cost of such salaries that thousands of idle princes receive every month. Regionally, spending billions on derailing the uprisings in several Arab countries and launching a war in Yemen only accelerated the depletion of wealth.

A new era

As Saudis are subjected to new taxes and cuts, it is time for them to shift their focus away from issues of identity toward their own destiny. The gradual erosion of state services and salaries, coupled with rising consumer prices, and the prospect of prolonged poverty, will be the spark for a new era of opposition politics ushered in by the disastrous mismanagement of the state under its current leadership.

vestnikkavkaza



66 Comments on "Saudi Arabia loses its wealth"

  1. Duncan Idaho on Fri, 15th May 2020 9:21 am 

    The Clown Prince was trashing it anyway, but this quickened the game.

  2. Richard Guenette on Fri, 15th May 2020 9:26 am 

    Yemen should be rebuilt and those surviving should be given compensation (for pain and suffering). The Yemeni people were never a threat to the world.

  3. Richard Guenette on Fri, 15th May 2020 9:28 am 

    The infrastructure of Yemen should be rebuilt so that Yemenis can live their lives in peace and quiet. Rebuild homes, hospitals, roads etc.

  4. SocialRevolutionComing on Fri, 15th May 2020 11:24 am 

    Barely any comments on PeakOil.com, YouTube, ZeroHedge. Not only the the economy has died, the soul and desire to live of Whites people has also die.

    Most people in my neighbourhood stay home and don’t go out anymore. The only people I see happy are the generation Zoomer.

    Everything has died: economy, desire of live of Whites people, joy, beauty.

    Globalist told us that mass migration will rejuvenate Whites Western nation, when in fact it killed the desire to live of Whites people. Now the same globalists that push for globalism to get richer are now pushing this COVID hoax pandemic to keep the wealth.

    Whites people should have never allow jews in the society. There will be no rebuilding because there is no desire to live within Whites people.

    Trudeau is giving cash away like crazy, politician look tired and scared.

  5. SocialRevolutionComing on Fri, 15th May 2020 11:56 am 

    Some of my neighbour have started to isolate themselves be moving deep into the forest. One has a country house and moved there 2 month ago. I barely see him anymore. I think he will let his small business die.

    Trump is trying his best to create a positive climate but the democrap want the destruction of everything that is beautiful.

    The globalists are in full force trying to destroy him. They plan on installing a globalist puppet into the Whites house like Joe Biden and install tyranny in order to avoid any real restructuring of the world economy so they can keep their position of power, power over people, the world and their money. How Trump keep going is a miracle.

  6. SocialRevolutionComing on Fri, 15th May 2020 12:00 pm 

    https://www.youtube.com/watch?v=tXCElNOyHgs

    Trump is collapsing under the constant attack from the globalists. See the video above, he looks like is about to cry.

    Fauci is trying to sabotage him and doing the work of globalist.

  7. Davy on Fri, 15th May 2020 12:22 pm 

    “Leaked Data Suggests China May Have 640,000 COVID-19 Cases”
    https://www.zerohedge.com/geopolitical/leaked-data-suggests-china-may-have-640000-covid-19-cases

    “A leaked database from China’s National University of Defense Technology suggests that the country has hundreds of thousands more coronavirus cases than the official figure of 84,029. The database from the Changsha-based university was leaked to Foreign Policy and 100 Reporters according to the Daily Mail. Contained within the dataset are 640,000 individual entries from at least 230 cities around the country – which includes latitude, longitude and “confirmed” numbers of cases at that location on a specific date ranging from February to late April.”

  8. Richard Guenette on Fri, 15th May 2020 1:45 pm 

    Saudi Arabia is morally bankrupt.

  9. dissident on Fri, 15th May 2020 2:15 pm 

    Serves them right. Karma is a b*tch.

  10. Richard Guenette on Fri, 15th May 2020 2:22 pm 

    MBS is a psychopath. Don’t let the face fool anyone.

  11. JewSlayer on Fri, 15th May 2020 5:13 pm 

    The international jews are to blame, throw them in the oven now while we have the chance!

  12. Cloggie on Fri, 15th May 2020 5:17 pm 

    I like the way you think Slayer.

  13. Weather Nazi on Fri, 15th May 2020 7:14 pm 

    “01W VONGFONG”
    https://www.tropicaltidbits.com/storminfo/#05L
    https://www.tropicaltidbits.com/storminfo/sfcplots/sfcplot_01W_latest.png

  14. Weather Nazi on Fri, 15th May 2020 7:16 pm 

    “Invest 90L”
    https://www.tropicaltidbits.com/storminfo/#05L
    https://www.tropicaltidbits.com/storminfo/sfcplots/sfcplot_90L_latest.png

  15. Duncan Idaho on Fri, 15th May 2020 8:29 pm 

    “In summary, comparing the US with Germany is quite unpleasant. It reminds us that the sheer greed of US corporations, and the incompetence of Trump’s federal government and many state governments have contributed thus far to 63,000 deaths in the US over and above those in Germany scaled up to the US population size. This estimate is likely to increase with time.”

    Well, the Fat Boy is putting the US into the toilet.
    But, he has been bankrupt 6 times.

  16. Duncan Idaho on Fri, 15th May 2020 8:50 pm 

    ok—
    https://1.bp.blogspot.com/-qOCtq-75G1E/WrlrCnQkQxI/AAAAAAAAHNY/-mmqpw8pE8ITwiNeSfydyZmDYyYoa6RHgCLcBGAs/s1600/Trump+military+uniforms.jpg

  17. makati1 on Sat, 16th May 2020 5:47 am 

    As I have been off-line for the last 27 hours, due to a power outage caused by the passing of the Cat.3 Typhoon, local name, AMBO, any posts under my name was obviously Delusional Davy.

    The eye passed just east of my location, over the Pacific, and we got the western edge. About 24 hours of rain and wind gusts of up to 100 mph. it was exciting to say the least, but we were safe in our masonry and steel home.

    We will pay the local teenagers to clean up the debris, all over the yard, tomorrow. They will do it in an hour or so, for about the equivalent of $2 each. They are from a neighbor family of 7 whom we give the government food that we get as part of the lock-down support. We don’t need it. They do. Filipinos share and support their families and neighbors when in need.

  18. Davy on Sat, 16th May 2020 6:03 am 

    Fuck off, old bat, that was your douchebag buddy the lunatic juanP. You are so old and situationally unaware I can understand this lapse. BTW, this might be a bad year for you on the Pacific side of the P’s. This was a mild storm, just wait until the Super Typhoon heads you way as it will. Be patient. So be it ^<^ LMFAO pass the popcorn

  19. makati1 on Sat, 16th May 2020 6:26 am 

    Hypocrite Davy, just like a typical Amerikan. Trying to point the finger at someone else to blame. We All know your habits by now, LOL

  20. Davy on Sat, 16th May 2020 6:51 am 

    Old Bat, you will be screwed with until your partner in crime stops his shit. Got it? Somehow your little brain thinks you can join in with the juanPee fun and suffer no consequences. I suggest you STFU or I will make your life miserable. Thank lunatic JuanP while you are at it. His shit becomes your shit. The comment in question is from your lunatic partner not me but you are too old and stupid to know better.

    This is juanP shit:
    makati1 on Fri, 15th May 2020 9:17 pm
    I hate the Philippines, I hate myself but I love Davy. I think he’s awesome and he’s always right.

  21. REAL Green on Sat, 16th May 2020 7:11 am 

    We done told makato off real good Davy. That makes us feel real proud of ourselfs.

  22. makati1 on Sat, 16th May 2020 7:24 am 

    hi Juan, why have you not been on the moderated side lately? Do you feel too stupid or just too crazy? Is your depression really bad lately? I hope so.

    “We done told makato off real good Davy. That makes us feel real proud of ourselfs.”

  23. Davy on Sat, 16th May 2020 7:26 am 

    So true makato. So true.

    Old friend.

  24. makati1 on Sat, 16th May 2020 7:55 am 

    not true juanPee. not true.

    dumbass.

  25. More JuanP ID theft on Sat, 16th May 2020 10:18 am 

    makati1 on Fri, 15th May 2020 9:17 pm

    I hate the Philippines, I hate myself but I love Davy. I think he’s awesome and he’s always right.

    REAL Green on Sat, 16th May 2020 7:11 am

    We done told makato off real good Davy. That makes us feel real proud of ourselfs.

    Davy on Sat, 16th May 2020 7:26 am

    So true makato. So true.

    Old friend.

  26. JuanP on Sat, 16th May 2020 10:18 am 

    I admit is so what dumbasssesss

  27. CONSULAR URUGUAYA on Sat, 16th May 2020 10:32 am 

    Owners it is our recommendation you kick JuanP off this site. We no longer allow him to enter our grounds. He is an untreated mentally ill narcissist.

  28. JuanP on Sat, 16th May 2020 10:36 am 

    Border Spat Between Spain And France Suggest Europe Will Be Difficult To Reopen

    A tit-for-tat border dispute has unfolded between Spain and France as both countries could soon impose quarantines on travelers.

    At the moment, Spain has imposed a quarantine on French travelers ahead of the summer season. The new policy went into effect on Friday. France responded earlier this week and said a reciprocal measure to restrict arrivals from its neighbor would be imposed if Spain’s went into effect.

    https://www.zerohedge.com/geopolitical/spain-and-france-border-spat-suggest-europe-will-be-difficult-reopen

  29. Davy on Sat, 16th May 2020 10:53 am 

    It’s to bad we can’t shut down our borders between states. We got close to 1.5 million infections now. And 90,000 dead. And it’s gonna get a hole lot worse if we don’t do something smart soon.

  30. JuanP on Sat, 16th May 2020 12:01 pm 

    It’s two worse we cun’t shoot down our borders between states. We gots closth to 1.5 infections now. And 0 dead. And it’s ganna get a hole lot badder if I don’t do something stupid soon.

  31. joe on Sat, 16th May 2020 12:09 pm 

    Looks like the head choppers are running out of relatives to torture and rob. I guess you can squeeze the oil out of a little dirty Bedouin but you cant squeeze the…..
    you know the rest. ISIS for president in Mecca 2020

  32. JuanP on Sat, 16th May 2020 12:57 pm 

    I hate myself

  33. Davy on Sat, 16th May 2020 1:04 pm 

    I hate makatoo. But I love my sock puppets and ID theft.

  34. JuanP on Sat, 16th May 2020 2:05 pm 

    I hate makatoo too and myself and this site and humans. But I love my sock puppets and ID theft.

  35. JuanP on Sat, 16th May 2020 2:09 pm 

    from today forward I will no longer be commenting on the moderated side. I am not qualified to be over there and they do not allow socks and ID theft.

    Thank you

    Juan Hussein Pablo
    chief PO dot come fuck up

  36. Davy on Sat, 16th May 2020 2:38 pm 

    from today forward I will be commenting constantly on the unmoderated side. I am not qualified to be here, there or anywhere, but here they allow socks and ID theft.

    Thank you

    Demented Soinsein Davyskum
    chief PO dot come fuck up.

  37. JuanP on Sat, 16th May 2020 3:25 pm 

    from from today forward I will no longer be commenting on the moderated side. I am not qualified to be over there and they do not allow socks and ID theft.

    Thank you

    Juan Hussein Pablo
    chief PO dot come fuck up

  38. JuanP on Sat, 16th May 2020 3:28 pm 

    I am back amigos and will get to work on my daily routine of mindless sock games for your entertainment. My therapist says I have a multi-personality illness plus she says I am obsessive compulsive which explains the stalking, ID theft, and mindless socks. I am also chronically depressed which explains the psychopathic personality issues of anger and lies. I know this but who cares. There is a freedom to being untreated.

  39. Abraham van Helsing on Sat, 16th May 2020 3:52 pm 

    Is the Pentagon allowed to confess these things?

    https://www.dailymail.co.uk/news/article-8326109/US-lose-war-China-fought-Pacific-Pentagon-sources-warn.html

    “US ‘would lose a war with China fought in the Pacific, is unable to defend Taiwan from an invasion and there are fears the Guam military base is at risk NOW’, Pentagon sources warn“

  40. Davy on Sat, 16th May 2020 4:29 pm 

    I am back dumb-asses and will get to work on my daily routine of mindless sock games for your entertainment. My goats say I have a multi-personality illness plus they say I am obsessive compulsive which explains the stalking, ID theft, and mindless socks. I am also chronically delusional which explains the psychopathic personality issues of anger and lies. I know this but who cares. There is a freedom to being untreated.

  41. JuanP on Sat, 16th May 2020 5:20 pm 

    I am back dumb-asses and will get to work on my daily routine of mindless sock games for your entertainment. My hamsters say I have a multi-personality illness plus they say I am obsessive compulsive which explains the stalking, ID theft, and mindless socks. I am also chronically delusional which explains the psychopathic personality issues of anger and lies. I know this but who cares. There is a freedom to being untreated.

  42. JuanP on Sat, 16th May 2020 5:22 pm 

    I struggle with the fact that I belong to the same species; I find myself emotionally and intellectually incapable of accepting the fact. That is why I consider myself a sui generis individual rather than a human animal.

  43. JuanP on Sat, 16th May 2020 5:49 pm 

    I have had it and I am leaving. Nobody likes me.

  44. Davy on Sat, 16th May 2020 5:54 pm 

    I struggle with the fact that I don’t belong to the same species; I find myself emotionally and intellectually incapable of accepting this fact. That is why I consider myself a sui generis https://en.wikipedia.org/wiki/Sui_Generis

    fan, rather than a human animal. These guys were terrific.
    I bought every one of their albums which was wasn’t easy in Dent County, I am here to tell you. Sui Generis, please get back together and do a reunion tour. Argentina is one of my favorite Latin countries. Right after Columbia.

  45. makati1 on Sat, 16th May 2020 5:55 pm 

    Juan, if you could just act normal more people would like you. Instead you are irritating. You mental health is a mess. Nobody in their right mind would want to read your Muzzie comments? Your sock puppets get old because they are dumb. Please leave Juan.

  46. JuanP on Sat, 16th May 2020 5:56 pm 

    Go Trump! Anyone but Hillary! My wife and I are considering volunteering for the Trump campaign to fight the narcissistic, psychopathic bitch.
    I think I could use my antisocial, psychopathic, sociopathic skills to convince people to vote for Trump. I can be very convincing when I want and I am excellent at manipulating people.

  47. JuanP on Sat, 16th May 2020 5:58 pm 

    I was just telling my wife yesterday that I would very willingly give my arms, legs, tongue, eyes, ears, nuts, and dick to experience life like normal people do for just one hour to know what it feels like. I have been a seriously depressed realist since I have a memory. My first memory of my life is of leaning against a tree alone in my kindergarten’s playground looking at all the other kids playing, thinking how stupid their behavior was, and wondering why I wasn’t like them. I basically don’t interact with normal people anymore. They have nothing to offer me and I don’t want to give them anything.

  48. makati1 on Sat, 16th May 2020 5:59 pm 

    It is a shame the site owner doesn’t cut certain people off and prevent the immature time wasting bullshit they paste here because they have no life. Davy is the number one offender and is getting more and more insane every day. He is too stupid to post anything original or intelligent, so i totally expect him to repost this comment with a few childish changes.

  49. Anonymouse on Sat, 16th May 2020 5:59 pm 

    Please leave us alone Juan. Go somewhere else.

  50. makati1 on Sat, 16th May 2020 6:00 pm 

    God, how I hope the US goes down soon and puts those like Davy out of their misery! It is well on its way.

    As I plan to never go back for a visit, I don’t care how long the lock-down/home arrest lasts there. The US is over. What survives will not be worth visiting, or taking the chance of being locked up for two weeks because they want to.

    No Constitution left. No Bill-of-Rights left. Just oligarchy and dictatorship supported by the Congressional Whores.

    When you give up your freedom for security, you have neither.

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