Tuesday, November 8, 2016

Saudi Implodia

The world's largest terrorist sponsor, I mean U.S. ally, just cancelled infrastructure projects equating to 40% of GDP so they can focus on funding ISIS, and otherwise prevent riots at home. Unfortunately, they've never heard of the reverse Keynesian economic multiplier...

"We were only off by 93%"
"Saudi Arabia’s governing economic body has cancelled $266.7 billion in projects...The cancellations were first considered in September, but at the time, it was noted that only $20 billion in projects would be considered to put on the chopping block."

"While Saudi Arabia has so far managed to tread financial water throughout the 2015 and 2016 oil price slump, many analysts feel that 2017 brings dimmer prospects to the state’s finances, despite all the efforts by OPEC members to stabilize the oil markets."

"We're going to save the budget by killing GDP"

Budget deficit -15% of GDP:

Two things that go great together...