5 ms·

Looking forward to the world no longer giving the Saudi goverenment / royal family a free pass on everything. It's ridiculous at this point.

by kevwil 6y ago

dunefox 6y ago
> a free pass It's not free, it costs them a lot of money.
- deleted 6y ago
  [deleted]
- ur-whale 6y ago
  >it costs them a lot of money Which they happen to sit on a bottomless pit of.
  - wp381640 6y ago
    Their wealth is overrated - they run huge deficits and the writing is on the wall for ARAMCO
    - ur-whale 6y ago
      Very happy to hear this and hope that is indeed the case, but the world's thirst for oil is still huge and will take a long time before it's finally quenched. Also, these days, running huge, never-to-be-repaid debt seems to be the standard way to run a country, as exemplified by the US and most of the EU ... the other shoe seems to have a gravity belt, so ARAMCO might just be safe for a long time.
      - lotsofpulp 6y ago
        Never to be repaid debt only works if the market thinks the country will continue produce something worth buying. That’s why Somalia can’t print its way out of poverty. Once Saudi Arabia runs out of oil, I’m not sure the country produces anything of equivalent value.
    - dillondoyle 6y ago
      They've invested such huge amounts of money that they might be relevant for a long time? But they might kill (pun intended) that too. Didn't MBS punish and bring back the head of their fund? I can't find his name quickly if someone else knows the facts - I remember reading an article about him being western in dress & manner, being openly critical as a family member can be. It might be Amr al-Dabbagh? Was successfully growing their money and power until he was 'Ritz-Carlton-ed'
  - ilstormcloud 6y ago
    In their own words, "the stone age didn't end due to a lack of stone". The world will move on from oil, and they'll be left behind.
- emilsedgh 6y ago
  To them it's pretty much free money.
- stjohnswarts 6y ago
  With Biden it's also costing them a military supplier (along with the atrocities happening to poor Yemen)

Looking forward to the world no longer giving the Saudi goverenment / royal family a free pass on everything. It's ridiculous at this point.

by kevwil 6y ago

Looking forward to the world no longer giving the Saudi goverenment / royal family a free pass on everything. It's ridiculous at this point.

dunefox 6y ago

> a free pass It's not free, it costs them a lot of money.

deleted 6y ago
[deleted]
ur-whale 6y ago
>it costs them a lot of money Which they happen to sit on a bottomless pit of.
- wp381640 6y ago
  Their wealth is overrated - they run huge deficits and the writing is on the wall for ARAMCO
  - ur-whale 6y ago
    Very happy to hear this and hope that is indeed the case, but the world's thirst for oil is still huge and will take a long time before it's finally quenched. Also, these days, running huge, never-to-be-repaid debt seems to be the standard way to run a country, as exemplified by the US and most of the EU ... the other shoe seems to have a gravity belt, so ARAMCO might just be safe for a long time.
    - lotsofpulp 6y ago
      Never to be repaid debt only works if the market thinks the country will continue produce something worth buying. That’s why Somalia can’t print its way out of poverty. Once Saudi Arabia runs out of oil, I’m not sure the country produces anything of equivalent value.
  - dillondoyle 6y ago
    They've invested such huge amounts of money that they might be relevant for a long time? But they might kill (pun intended) that too. Didn't MBS punish and bring back the head of their fund? I can't find his name quickly if someone else knows the facts - I remember reading an article about him being western in dress & manner, being openly critical as a family member can be. It might be Amr al-Dabbagh? Was successfully growing their money and power until he was 'Ritz-Carlton-ed'
- ilstormcloud 6y ago
  In their own words, "the stone age didn't end due to a lack of stone". The world will move on from oil, and they'll be left behind.
emilsedgh 6y ago
To them it's pretty much free money.
stjohnswarts 6y ago
With Biden it's also costing them a military supplier (along with the atrocities happening to poor Yemen)