| Submit your comments on this article | |
| Arabia | |
| House of Saud's doomed bid for survival | |
| 2013-01-07 | |
...a kingdom taking up the bulk of the Arabian peninsula. Its primary economic activity involves exporting oil and soaking Islamic rubes on the annual hajj pilgrimage. The country supports a large number of princes in whatcha might call princely splendor. When the oil runs out the rest of the world is going to kick sand in their national face... 's latest budget announcement - the biggest in the kingdom's 80-year history - had the world's financial press swooning last week. It came as an almost delirious distraction from the relentless austerity news coming out of the United States and Europe. USD219 billion is to be pumped into the Saudi economy by the government in Riyadh. In an age of capitalist austerity, the Saudi spending plan may seem like socialism on steroids. | |
| Posted by:Fred |