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Message
re: Saudi posts record $98 bn deficit in 2015
Posted on 12/28/15 at 2:29 pm to stevengtiger
Posted on 12/28/15 at 2:29 pm to stevengtiger
quote:
Exactly. They can run a deficit without borrowing money and paying interest for at least another 4-5 years. They are currently doing what they wanted to do.
This is true but the question really is will they continue or actually how much longer are they willing to continue? 30 oil is going to hurt everyone with possible 20 not far away. It is going to be some interesting times ahead for all.
1
Posted on 12/28/15 at 2:31 pm to Martini
The whores and drug dealers in Beverly Hills will not be please to hear this.
Posted on 12/28/15 at 2:32 pm to The Boat
quote:
Now they'll have to postpone funding the next 9/11.
They are no better than those other loon-tune tablecloth wearing numbnuts.
We should just take the oil, give them some bread and water, pat them on their heads and send them on their way.
Posted on 12/28/15 at 2:33 pm to Dire Wolf
That really isn't bad at all. The debt per capita is only a few thousand while in the U.S., it's around $58,000 per person.
Posted on 12/28/15 at 2:36 pm to sleepytime
quote:
That really isn't bad at all. The debt per capita is only a few thousand while in the U.S., it's around $58,000 per person.
It's not even debt. Its just a deficit for the year. That makes it 100x's worse than the US current situation. They have a surplus which it would take years for us to get back to, if ever.
Posted on 12/28/15 at 2:44 pm to Dire Wolf
(no message)
This post was edited on 12/28/15 at 2:51 pm
Posted on 12/28/15 at 2:51 pm to Dire Wolf
quote:
Saudi posts record $98 bn deficit in 2015
That's probably their defense budget for 2015. They spent $80 billion last year which was a 17% increase over 2013. And you know where all that money is going.
Posted on 12/28/15 at 3:01 pm to colorchangintiger
Oil is down becaus of Saudis, oil is down because the US has flooded the market. Saudi has produced roughly the same amount over the last decade. The US has has sky rocketed production and hasn't stopped hardly any.
Posted on 12/28/15 at 3:05 pm to barry
How can the US "flood the market" when only last week Congress voted to lift the ban on exports?
Global use is down. Global production hasn't matched the use trend. End of discussion.
Global use is down. Global production hasn't matched the use trend. End of discussion.
Posted on 12/28/15 at 3:14 pm to bamarep
quote:
How can the US "flood the market" when only last week Congress voted to lift the ban on exports?
it's zero sum
every drop produced here is one less that has to be imported
Posted on 12/28/15 at 3:17 pm to Dire Wolf
They should drive a Prius.
Posted on 12/28/15 at 3:49 pm to Sao
Just put all of my Roth IRA in shares of USO and TRKNT
Posted on 12/28/15 at 3:52 pm to Dire Wolf
The Saudi's are the fricking worse group of people in the world, and we worry about Iran.
Posted on 12/28/15 at 4:07 pm to stevengtiger
quote:
It's not even debt. Its just a deficit for the year. That makes it 100x's worse than the US current situation. They have a surplus which it would take years for us to get back to, if ever.
You do realize the last time the US was debt free was 200 years ago right? Been running debt since 1835. And since 1838 people have been tearing their clothes, weeping and wailing: "think of the kids!" "how will our children ever repay this burden?".
LINK
This post was edited on 12/28/15 at 4:11 pm
Posted on 12/28/15 at 4:11 pm to Jack Daniel
quote:
I wonder if they will continue to give oil away?
they have to. they must capture whatever revenue they can.
Posted on 12/28/15 at 4:13 pm to Old Hellen Yeller
quote:
it's zero sum
every drop produced here is one less that has to be imported
Posted on 12/28/15 at 4:13 pm to jose canseco
quote:
How does this compare to the US deficit?
U.S. deficit for 2015 was 439 billion
But our GDP is about 25 x their GDP so there's that.
Posted on 12/28/15 at 4:16 pm to Sidicous
quote:
You do realize the last time the US was debt free was 200 years ago right?
I do understand that. My point was that the Saudi's aren't hurting even though they are showing a deficit for 2015.
Posted on 12/28/15 at 4:18 pm to stevengtiger
quote:
I do understand that. My point was that the Saudi's aren't hurting even though they are showing a deficit for 2015.
They might not be doing that bad fiscally but their economic outlook the next few years is pretty awful
Posted on 12/28/15 at 4:40 pm to Dire Wolf
I am sure Obama has paid them more than their deficit to try and kill or O & G industry.
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