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One last point and I'll drop it. The argument "their economy is based on natural resources so it's weak" often gets made, but how is this type of economy intri
by mythrwy 10y ago
One last point and I'll drop it.
The argument "their economy is based on natural resources so it's weak" often gets made, but how is this type of economy intrinsically weaker or more susceptible to collapse than economies based on financial shell games? Never understood.
- leroy_masochist 10y agoBecause their tax revenue is closely tied to the price of oil, so when you budget the next 10 years on a forecasted price of $85/barrel and prices go down to 40-50 for a sustained period, you start getting a lot of starving pensioners freezing to death and/or freezing pensioners starving to death. Friends in provincial cities report it has been a really, really bad winter.