This is the only must-read article for the day. Link to Simon Watkins. Sometime ago I mentioned that this analyst is my favorite or may be my favorite. I forget exactly what I wrote. But his contribution today over at oilprice is spot on. I will re-post this later. I don't want it to get lost in the clutter.
If you want more proof of another blunder by Saudi Arabia, see this post.
The Simon Watkins link above archived here.
I see social unrest on the horizon. Folks there will not be happy trading in the Chevy Suburban for a Chevy Spark. Or a Lexus for a Corolla. Who is going to do the manual labor that the folks from central Asia used to do?
ReplyDeleteAgree 1000%. There are two issues here: first, the social unrest you mention, and the Asians that will go back home if not paid. Second, those rich princes -- some of whom were put under house arrest -- have a long memory, and won't appreciate their monthly stipends being cut significantly.
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