@@stian1236 people are watching on TV, tracking the numbers is hard as many just go to cafes/restaurants with TVs and watch there, or they'd get together with friends/family at someone's place. But probably just like for the stadiums, only the main events get attention
The Saudis might as well spend their petro $ wealth while it lasts. That´s going to crash in the near future, transforming the dessert into a sustainable economy is impossible.
Huh, lots of competition there though. Caligula once declared war on Poseidon and ordered his troops to go to the beach and stab the water and throw spears at the waves. Otherwise there's this asshole who thought it would be a good idea to release all the birds mentioned in Shakespeare's plays on American soil causing an ecological disaster still felt to this day. Oh yeah, what about the dimwit who thought that adding led to engine fuel would be a genius idea and who ended up being directly responsible for hundreds of thousand, if not millions of deaths. Humans have been holding each other's beer for a long time now... and we're not done by a long shot!
this type of insane projects happens when someone who's kinda smart but not intelligent and has a lot of power and resources tries to be innovative but they think crazy insane spectacular shit is somehow innovation when really they're just stupid and a waste
They even executed a few people who spoke out against it. Those people spoke out against it because they had their land seized as part of the construction of it.
King: we need to invest our money! Advisor: I suggest blue chip stocks and stable companies King: no, I want a thin ass city..... ......in the middle of the fcking dessert.
You don't get it do you? The building will be really really really big. Like bigger than other buildings. Like the biggest of all buildings. And then everyone will clap and MBS wins at politics.
@@JongeKroostyeah and that will replace oil money? Once the oil is done the entire Middle East economy is done. They'll be just like another African nation.
i can tell you one thing. if drugs are the only thing going for saudi arabia ; and no more oil is being used because everyone now is on electric instead of fossil fuels? saudi arabia will look like afghanistan in 10 years.
Well explained. Thanks for bringing up the video. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject…
Most people think, investing in crypto is all about buying coins and leaving it to rise, come on it takes much analysis to be a successful crypto trader.
Trading without professional guide...Huh I laugh you, because you will remain where you are or even make huge losses that will stop you from trading, this has been one of the biggest problem to new traders
You're right! I have lost a lot trading all by myself without a guide. It's been an uneasy ride for me. Who is your mentor please. how can i reach her i really need help in this bear market now?
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in Saudi Arabia.
Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over $150k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look.
Such market uncertainties are the reason I don’t base my market judgements and decisions on rumours and here-says, got the best of me 2020 and had me holding worthless position in the market, I had to revamp my entire portfolio through the aid of an advisor, before I started seeing any significant results happens in my portfolio, been using the same advisor and I’ve scaled up $450k within 2 years, whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Annette Marie Holt for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Who do you think is providing the consulting, logistics, market research, risk management, blue prints, etc.?, I'll give you a hint: McKinsey , BCG and their likes. PwC paid their London employees bonuses from the money they got from Saudi.
@@MrSpiderlionsif the king is a complete idiot, why waste time making a complex business plan? Just make so cool looking cgi with catchy words and that is all he cares
I mean who in their right mind would even think of building a linear city. It just shows that having money doesn't necessarily go with having common sense.
@@DeLorean4 don't worry, they are usually employed by western companies and make a lot of money. that's also the reason they would never tell them how stupid it is.
@@عبدالرحمنعبدالله-ز4م it's even funnier when you guys behave this arrogant despite never having achieved anything. bragging about things you have only announced seems to be a an important part of culture in these oil states
Who would've thought the guy who cuts critical journalists into tiny pieces is bad at listening to constructive criticism of his... let's call them economic development plans.
@gstrathmore194 most people don't know the truth. MBS is a stabilizing force in the region, modernizing a really backwards society. You think the US or the west can do better? No. It takes an authoritarian leader to do that for muslim societies that preach violence. MBS has some serious flaws but there's no better alternative.
@@MogauLephakaAgree…I am here for the narration and info, the images are a a filer and backdrop. And if the background for a story on future big cities is Dubai, which the Saudis seem to be emulating….I see no issue there.
Considering how cheap their subsidized energy prices are, they should be looking at diversifying into industry. The Arabian-Nubian shield geographic region is pretty well known to contain deposits of gold and many other critical metals and minerals; I feel like they should be looking at diversifying into the mining sector.
@@aritragupta4182 understandable. Though with most mining operations by far the biggest overhead comes from the cost of fuel. So Saudi Arabia is still in a unique position to make the industry profitable. 5300+ potential commercially viable deposits have been found on the Arabian peninsula side of the Arabian-Nubian shield alone.
@@عبدالرحمنعبدالله-ز4م There really isn't much left to be proven wrong about the line anymore. Everything that could have gone wrong already has. The design is nonsensical, the investment hasn't arrived and it's already been scaled back to 1% of its size.
This is a pretty standard outcome when attempting to boost a planned economy that has already maximized output. Planned economies like the USSR, North Korea, China, and many others often see a boom in productivity when starting from nothing, but then they hit a peak. As the economy grows it grows more complex. It eventually grows too complex for any single person to be able to handle it well. The country then either tightens down on authoritarian measures oppressing opposition and the economy stagnates similar to how the USSR stagnated for decades, or they loosen up restrictions and allow the economy to control itself in a more democratic way. South Korea is a good example of this. It started planned and loosened up and became more democratic. Japan too, though this happened in the 1800s. China is an interesting blend where it loosened up a bit but hasn't let go of authoritarian control and is now beginning to face the same stagnation issue today. Saudi Arabia is in a similar boat. It's economy is too controlled. The solution to growing and diversifying the economy up is not to play SimCity and build a bunch of industry. Instead the solution is to focus on education, stability, and an openness for businesses to function organically. The more educated the population the more profitable the businesses and its people will be, so in the end education becomes paramount. This is something the US could learn as it's public education has been going downhill over the last handful of decades. This leads to people in the US growing poorer over the generations. Saudi Arabia could copy a blend of both Singapore and Norway. This way it wouldn't need to reinvent the wheel. There are countries that have already gone down this path and have found success. Right now Saudi Arabia is mirroring the attempts from countries that saw their economy stagnate. It's not too late. MBS is smart. Maybe he'll figure it out.
I agree that market freedom is the most sustainable way of running an economy. But Norway had an economy before oil and even now it accounts for only 1/4 of GDP, even though their exports are 3/4 oil. The difference being that Norway is much less reliant on exports than Saudi. They have a home grown economy equivalent to any non oil European economy. And Singapore is a city state and reliant on trade which I personally think is an aberration that has thus far been much touted as a model by economists but has never really been successfully duplicated. The Saudis were camel herders that found oil and quickly became a nation used to little work for lots of compensation - probably just like any other would. Changing that, successfully, will be rough.
Glad to read a comment from someone with a broader view of economics. MBS is trying to modernize as fast as possible, but he is constrained by fundamentalists, lack of infrastructure, large entitled royal family and societal inertia.
@@raybod1775 I wouldn't say that he's constrained by those first three. Did fundamentalists tell him to spend billions on a handful of soccer players? I'd say not. Did lack of infrastructure stop him from attempting the line? Did a large entitled royal family tell him not to concentrate the country's economic power into the hands of the state and, ultimately, the royal family? Social inertia is definitely the problem. You have no idea how hard it is to get people to do things as simple as show up on time and do honest, transparent work.
I'm an amateur with a portfolio of 80K but it's hard for me to build confidence. I want to invest another 70k over a one month span, but I want to be strategic about doing it so I can grow more and not stay stagnant. Any stock suggestions?
Not offering any particular advice, but I can assure you that it's not as hard as many people think it is. Ordinary investors lack the requisite level of diligence, so having a financial advisor on board is usually highly beneficial. In the market, this is how people generate enormous profits.
That is logical. I have a six-figure diversified stock portfolio and have been using a financial market specialist for the past two years. However, this year I want to diversify even more.
That's really great. I've tried doing some research myself to hire a financial advisor, but it's really overwhelming. Could you recommend who you work with please?
Amber Michelle Smith has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
Thank you for sharing, I must say she appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled
Saudi Arabia is the scourge of Arab world.War in yemen,bending over to Isreal and the US,promping terrorist organisations all over the middleeast All those wealth and they decided to waste it on vanity projects and licking boots of the US instead of helping the so called "Arab World".
It would be nice if they actually build it because then everyone could see how stupid it is in real life and that might stop some other projects... And I would be glad if its the saudis money and not my own countries money...
@@timowagner1329 I’d say it’d be good if it reached an early stage of construction, proving the dumbness without wasting too much money, for the sake of the people in Saudi Arabia, who might need their state to have some money left over for, i dunno, welfare
@@Banter07 sure welfare would be nice for the average saudi citizen, but (at least for now) they are not that important in a political sense - who knows, maybe these money pits could spark some change in the political landscape in Saudi Arabia :)
@@timowagner1329 You guys sound like colonial administrators meeting to discuss some “lesser peoples” you control. Im a saudi myself, we DO have a welfare system and our utilities are heavily subsidized, our education and healthcare sectors are free, not sure why youd speak on my country if you didn’t bother to learn basic facts about it beforehand. And if you think people are going to “create political change” you definitely don’t know what you’re talking about, no one here is angry at the government or pissed off, theres independently-ran opinion polls which show that.
Financial ruin will underpin a different political problem as well. That of authoritarian repression. While it hasn't been reported in international media, but many of these projects and reforms came on the back of extremely cruel repression. The land of the line project was inhabited by an old tribe who were forced into eviction and when people protested, they were sentenced to decades in prison. The social reforms of women's rights came as the orignal advocates of the reforms were jailed and tortured. Imams who spoke against the concerts were thrown into jail as well. All of this was done with the hope that it will bring about economic greatness. And when that doesn't come, this entire house of cards comes tumbling down. On a related note, an ever expansive government bureaucracy and it's jobs, even when not needed is a problem with all GCC states. I wonder what happens when the state cannot afford to keep a useless bureaucracy on a payroll problem that can only be exacerbated by AI.
"Im gonna draw a line here"- some servant- "He wants to draw a line" - some drugdealer "- and he wants a line, long as a continent" - some architect " and its gonna be a city". Meanwhile, they could have all that for cheap, with a damn and a greenhouse- cover over for a wadi.
place that is a heaven for taxes and where population is not motivated to work is a perfect recipe for future disaster; not the most motivated and philantropic people living there
I'm middle eastern, you won't believe how saudis actually think they are a developed nation and that they are 500 years ahead of the world just because they are rich, we try to tell them that being rich dosent mean you live in a developed country and this richness is all of because of the oil and slave labor from south asia, once the world finds something better than oil and the workers stop being enslaved and go to their homeland you will go back to living in tents, their only response is always: "you are just jealous of our development".
it's to be expected. They aren't educated, therefore, it's not possible for them to know any better. They believe the government propaganda. All governments tell stories favorable to themselves. I agree, their ignorance will come back to bite them with a vengeance.
Egyptian. This is not a saudi problem, these kind of responses always happen with those that defend their leaders, its the same case with those that support sisi, anyone against him is just an ikhwani and a traitor to the nation and jealous of their development. The new capital is just another "The Line"
@@عبدالرحمنعبدالله-ز4م with what was that built? Saudi experience? Their expertise or education and knowledge? Or slave labor and skilled workers from the west?
you could do a version of the line that was much shorter, say 10 stories, with nodes around station stops going higher (perhaps at a later date once the concept was proven). the height of the thing doesn’t make sense. I mean the whole thing doesn’t make sense, but IF you were going to do it, the money would go further if you did it at a more modest scale, at least initially.
Hey TLDR ! I would love to see a video on Bahria Town, and DHA in Pakistan. These are private cities, in the country which further the wealth divide in country, which already has a huge wealth divide. I think it would be really interesting to know the exact numbers, as well as the environmental cost of these new dystopian private cities.
I am curious how much oil is actually left in their ground. They are very secret about it, unlike other oil countries. Also, their behaviour makes me think they don't have as much left as they would like us to believe. I could be wrong, but something isn't adding up.
@@Directlite664 Look up the list of countries by oil reserves and compare it to the list of countries by human development index as well as Freedom House's Global Freedom index list. Not only they don't match, there is practically an inverse correlation between the first and the last 2. Oil is a curse.
@@user-op8fg3ny3j Saudi citizens enjoy everything subsidised and rich government jobs while all your actual labour is done by poor migrant workers from the Indian subcontinent or SEA trapped in slave contracts.
I went to saudi for work for the first time in 12 years last month, and it was quite jarring to see so many women working in Riyadh. This was a country where you could never see a woman going anywhere without a chaperone to then see them working, and driving around is quite surprising to me. It shows the power that MBS wielded that even the whabbists succumb to his demands.
I honestly can't tell whether or not you think women shouldn't work, but if that is the case... I'm wondering where you have been in the last 12 years.
@Chrissy717 i used to commute to saudi once a month for years in the late naughties monitoring their water desalination plants. Working women is normal from our part of the world, and not seeing them anywhere when i first arrived there was quite alien, but after a while i got used to it. When i arrived in saudi last month, that part of my brain clicked back in, and I was ready not to see women anywhere alone. But when i first landed and saw them at the immigration checkpoint, stamping passports, i never thought i would see the day that someone could force the hardline clerics to change their ways.
He is indeed trying to reform the country and provide human right, but even he is under pressure from the religious nuts. Recently his government jailed a female human right activist for posting pics wearing gym clothes which they deemed "inappropriate". So, still miles to go.
I support womens rights, but I think pushing women into the workforce like that is done with capitalistic intentions to intensify competition and drive wages down to serve the interests of capitalists rather than to promote "equality". I think genuine support for women's rights is emancipating them from the grips of capitalism, granting them opportunities to pursue more education and self-exploration, and granting them more equal legal rights and more government program support.
may be not the next decade but yeah. And, first, there will be a dune 3-like humanitarian cataclysm that will make look Gaza like childplay. Because, when they were living in tents, Saudi Arabia had barely 2 millions inhabitants. Now it has 20 millions inhabitants (plus 10 millions slave-worker foreigners)....so yeah, it's going to be ugly....the infortune will be, their degenerate upper classes will probably flight to the West before it collapses....
@@user-op8fg3ny3j Maybe if it happened 50 years ago but now most will just wither away. I doubt any of them have any grit like the Palestinians after years of opulence and luxury.
I bet they have houses now they will not disappear just because oil money diminishes, they have a “small” population of 18,800,000, also they have a sovereign wealth fund so they will not lack money but instead of everyone spending money on vanity plates to flex , most will become like people in the west, richer than half the world but not so rich that everyone drives a Mercedes g wagon
Saudi would've done a lot better if it used its infinite money glitch on more normal projects like promoting businesses, investments, promoting real estate, tourism, making factories for stuff like car manufacturing, pharmaceuticals, and others in smaller provinces, etc in already existing huge cities such as Riyadh, Jeddah, Dammam, Medina instead of making THE LINE. Honestly, I used to (and to some extent still like) the Neom project as being this new techy super-urban city, but the Line was outright stupid.
Thats what the vision is about. The vision actually cares about all these aspects and there developments and contracts signed with many card companies to open industries here
Yes we diversified. I don’t what is your country but a commentor who is not a minister, CEO, investor, rich, and does not work for the highest job position in the government or private sector should not speak.
can you imagine if all that money spent in stupid things (what the hell, let's just say 10% of that) was well spent in things like investing in solar energy or studying how to try to gain terrain to the desert planting vegetation?
I think, that Vision 2030 was a mistake. Sure, the Saudi may be overdependent on oil, but I think, they should have doubled down on it. There is the argument of oil going down in price, hell, even being banned, but what is overlooked, is, that even completely banned substances are still in use, though not quite as extensively. When it comes to ban on oil, usually, that is not meant as complete ban on the entire substance, but rather on certain products from it or certain uses. The one most discussed recently is fuel and even further in the past had been and still are plastics. Here is the reason, why I think, they should have doubled down. Oil is source material for some 40 000 items ranging from fuel and plastics through fertilizers to medicaments. As the West keeps walking away from oil, the price will begin to fall and countries, that produce oil, but have higher production costs will begin to fold their operations. Saudi Arabia has the lowest extraction costs for crude oil on Earth. If they maintained their oil extraction plants and expanded properly into refining the oil into more advanced products (which they do to some extent), particularly eyeing the medical field, they could create virtual monopoly on production of some drugs and materials used in hospitals, greatly prolonging their revenues from oil and capturing greater share of money spent on these applications. You could argue, that nations on Earth would want to see lower emisions or impose carbon tax on these products, but let's face it. No politician would ever risk creating shortage of infusions and literal blood bags in their country by introducing carbon tax on the only practical container for life saving substances or the life saving substances them selves.
Remember folks.... The only way to make a ton of money with oil is when a war is going on, so financially, it is not convenient for Saudi Arabia or other OPEC countries to solve conflicts or wars. If a crisis lasts longer and affects the supply lines, it is better for them. Yes, it is not only the US and Russia that profit from war.
Come now, you know that's not true. Certainly, oil producers are incentivized to prefer wartime, but it's not like you can't make a shitload of money from selling oil in peacetime.
@@sino_diogenesthe times when oil was very profitable during peacetimes was during the oil embargoes spiking prices to the moon. If you artificially restrict supply now then other producers will fill the void.
That is geopolitics games and not about profit 😂 if oil prices increase the USA citizens will implode like in the 70s and they will blame Biden, in Europe we have higher fuel prices than USA and they still complain about it, if what happened in Europe after the wr, the USA world riot, we didn’t riot , we just complained about it😂
Keep in mind Saudi Arabia is mostly arid desert, has no rivers. The sand is not fit for building or growing crops. They really have nothing other than oil and natural gas and some mineral. So seeing kingdom go for extremes in trying to find alternatives is honestly understandable. What would you have done if you were in their shoes? Some people have to make hard decisions. Some just open their mouths and criticize.
Sounds like a classic case of pride goeth before the fall. They had every opportunity to spend their money wisely back while they were coasting on oil, but nope. And now here they are, unable to learn quickly enough as peak oil approaches.
Who do you mean by (They) Saudi Arabia is a tribal dictatorship state that inherits the people as you inherit real estate and furniture to your children and family!! There is no freedom of opinion or any regulatory bodies on how to spend the money and where
The more i see western especially American talking about country or president in a bad way is something nice which means they are going in the right way .
One has to question the true size of Saudi reserves. ARAMCO releases questionable data at best. The Saudis do have the infrastructure to increase and decrease their production at will like no other country but for how long. Would the changes be happening if the Saud family was not worried about their position?
Their reserves aren’t the problem. Even without concrete details one could estimate they have hundreds of years in reserves, but if history is any teacher, technology evolves at lightning pace, and 50-60 years from now if they haven’t gotten their ducks in a row they’ll be worse off than Venezuela
Such an odd plan. I can’t imagine many in the West seeing an ultra-conservative, strict religious dictatorship as a tourist or business destination, and these projects seem like they will not age well…..they are too trendy, and will be dated in 10 years.
First of all, you should change your channel name from Tlder to a toddler channel. Most of your pictures and videos are not from SA its more from Dubai which is misleading. I would highly recommend you to visit SA and see yourself. You could also ask and visit some International firms and companies why they are moving to SA it become the kaapa of investment. Last, we are moving very fast with confidence and giving a shit about such an argument.
When you don't invest your money in improving quality of human resources (education, cultural development ...) the money you spend is a waste... they are focusing on the wrong things.
They actually could have given Egypt a good run for their money! (Especially seeing Egypt being a garbage state) The location in North West Arabia, means that out of the whole country, that part is the most temperate. Then they went and messed it up! If they had invested in a circular city at the very least they would see return on investment.
The problem is for them is that by trying to cut oil production to push the price up, they are playing into the hands of the renewable energy sector that's getting better and cheaper all the time. It's very likely thanks to renewable energy that there's going to be constant downwards pressure on energy prices, and considering the EU, US and China are investing big in renewables, countries that are either too dependent on fossil fuels or get a lot of revenue from them need to adapt and adapt fast, because the good times are quickly coming to an end, especially since Putin invaded Ukraine and made a big push to have more energy security, which renewables can deliver. What countries like Saudi Arabia and others like them need is smart investment choices, which they seem to be wasting a lot of money on projects that don't deliver a good return. The irony is in all this is that countries that sell a lot of fossil fuels are going to have a major headache maintaining the economy without major reforms and changes, which are not going to be comfortable with the majority of the people in those countries, on the other side of the coin, the countries that benefit the most from this cheap clean energy are the ones that have very few fossil fuels and are already paying high energy prices, Europe and especially EU countries could be in a good position to benefit a lot from that, producing a lot of that energy internally, which means that money isn't being exported, and eventually, the cost of energy should be a lot lower, throw in booth together and EU countries could go through an economic boom, far more money to invest whiles energy bills are much lower, other countries like Japan could benefit a lot for the same reasons. I've always seen countries that have a lot of fossil fuels as being more of a curse than a blessing, most are not very good at taking advantage of it in a responsible way, Norway being the exception to the rule, whereas countries that don't have fossil fuels are forced to do the reforms to stay ahead and competitive, so imagine that these countries don't have to spend hundreds of billions in exports to buy energy and then energy prices come down a lot internally, it's got all the potential to do an economic boom. In any case, the likes of OPEC trying to cut production to push prices up is a fool's game, by doing so, they are making renewables far more competitive and giving countries a bigger incentive to move away from fossil fuels sooner rather than later, in that sense, Putin being a buffoon in Ukraine has done the world a favour by waking us up and pushing the renewable agenda up the ladder.
@@fnbstn32 Oil is like coal it has had it's time. In Canada, First Nations are pushing for the govt to stop drilling oil on their lands because it pollutes the water.
Reminder that SA has a gdp roughly equivalent to the US state of Pennsylvania. All the oil wealth, the wellfare state it enables, and the fabulous wealth of the royal family overshadow the simple fact they truly have practically nothing else going on.
Also important to remember that oil will always be used, even if demand does decrease over the coming decades. Saudi also has a sovereign wealth fund worth $925 billion. I do agree that Saudi is just a petrostate and most of the work is done by foreign exploited labour, but its important to not underestimate Saudi given the natural resources they have
"I’m tired of being told that out of “tolerance for other cultures” we must let Saudi Arabia use our oil money to fund mosques and madrassa Islamic schools to preach hate in America, while no American group is allowed to fund a church, synagogue or religious school in Saudi Arabia to teach love and tolerance." - Robert A. Hall 🇺🇲
well saudi is considered like the vatican, same way u cant build non christian sites in vatican, it goes the same for saudi arabia too, other muslim countries have and do build other religious sites different from islam
@@enceladus4900there’s a difference between the Vatican, a very small section in Rome directly controlled and operated by the church, and an entire nation of Saudi Arabia filled with cities, towns, villages, industries, and secular developments. Saying no non-Islamic sites in actual holy areas is understandable. Saying no non-Islamic sites in the country is intolerant.
Every nation is different , evry society has their own way of life and the way they see the worldI would not want a church or a mosque to be built in my natio. Because i see both of them as expansionist way of life so i dont desire going to a christian or a muslim nation i always say to my people let us industrialise but never take the way of life of those groups and let us fix our own problems.@dex6316
What you need to understand is that the increase in borrowing was communicated to the public in advance and it has been a government policy aimed at increasing the international markets’ connectivity with the Saudi economy. Furthermore the change in the stance on fundamentalism is aimed at unrooting the extremist ideology preached by the Muslim Brotherhood, and it is extremely popular due to the growing resentment against them and their motivations.
@@AizenIsKubo So you know all about me based on a question I asked? Please, tell me where I was born, where I have lived, where I've studied, and my entire life story. If you can do that, I'll take your comment seriously. Otherwise, you're just another internet troll who wasn't able to answer a sincere question I asked without any prejudice.
@@yahyazekeriyya2560 Yes, I did. If you have to ask that question you are so blinded by religion your head is firmly up the rear end of Islam, you won't see anything wrong with it. Did I stutter? I will keep repeating this over and over again.
@@AizenIsKubo Cool beans, kiddo. I bet you're not even a real person. More like a bot or something because that's how you're acting. You can have the last word if you want, engaging with pseudo-people like yourself is nothing but a waste of time.
When you want to change the economy at that pace, it’s normal to have hiccups along the way, hiccups that may cost billions. The world sees only the headlines but there is a lot of change throughout the whole society. It becomes a trend to criticise everything Saudi does but overall I think that they are on the right track👍🏼
wait, building a city in a narrow straight line.. is a colossally stupid waste of money? Next you're going to tell me that Building a bunch of islands in the vague shape of a small earth out of sand will also be a waste of billions.
Ok so: 1:33 the Saudi government oil revenue accounted for 62.2% of total revenue, with oil revenue down 12% yoy with a 2022 average of 10.6 Mbpd and a 2023 average of 9.6 Mbpd (a 9.4% decline in oil volumes production). Further, non-oil government government revenue rose 11%, from 410.9 to 457.7 billion riyals. 1:44 regarding private sector the number of Saudis working in the private sector has increased to 2.3 million, with the latest monthly data I could find being that 28.1k Saudis joined the private sector in March 2024, 18.1k in April. In total size, the private sector has grown from 10.8 million in Nov 2023 to 11.2 million by April 2024 (not a sign of a bad economy). The percentage of Saudis working in the public sector is 51.1%, not 66.6%. 1:51 "Well below market price" is a massive overstatement. The Saudis capped the internal cost of crude oil (and they do something else for nat gas but I'm not sure how that works) but for crude oil they capped it at $70 per barrel, with a production cost of under $10 per barrel, estimated at about $3-$7 per barrel. This cost of crude for internal use has been increased by Aramco since then, with cement and petrochemical companies being affected, I couldn't find the updated figure for this. 3:51 countries leave OPEC and rejoin, Angola, Ecuador, Indonesia, and Qatar have all left at one point, but they are either small producers or are net importers. 4:37 they didn't reduce the total size of the line, they simply changed the targeted population by 2030, the full length is still 170km. 4:55 the ministry of energy directed Aramco to put the plans on hold, that's because Aramco's spare capacity stands at 3 Mbpd, which is equivalent to the Canadian oil sands nearly. Aramco can still undergo the process of increasing capacity by 1Mbpd within ~4 years if asked to do so by the government. 5:18 the MoF has announced 2% yearly deficits as a share of GDP until 2026, with overall economic growth expected to be well above this, with 2024 expected at ~3%, and average to 2026 at ~4-5%, which is hard to predict and the ranges provided by the MoF on yearly deficits vary based on low to high income scenarios based on volatility in oil markets, but their deficits are a) very low as a share of GDP, b) sustainable and c) given their low base is completely affordable. When you stated non-oil economic growth, keep in mind interest rates have risen from ultra low 0.25% to nearly 6% in the kingdom, in line with Fed increases. These take 12 to 18 months to go through the economy, as such a slowdown in growth is to be expected. 6:37 ok no, not at all. The last time Saudi Arabia increased production to maximum levels, global prices fell by 30% in one day, so no it would not "comfortably offset decline in prices". The market needs to be balanced in the long term, and simply flooding the market would harm KSA far more than it would help. As a note on global oil demand, it is nearly impossible to predict the fortunes of Saudi Arabia, whether good or bad, today. That is because the largest issue they have faced in the past 15 years has been US shale, however the total size of US oil reserves stands equal to that of Algeria, yet the US produces 10x more, and the largest US field, the Permian, is the same size as Prudhoe Bay, which itself peaked at about 1.8 Mbpd, so it's hard to see how the Permiam (which pumps at 7 Mbpd) can possibly keep up this pace. A decline in Permian, and by extension US, oil production, would have dramatic effects on the oil markets. Another note needs to be taken that KSA has handled and come out of the covid pandemic extremely well, with the handling of the health and economic situations being extremely competent. Overall the Saudi economy, with a strong jobs creation, low debt levels across households, government, and non-financial businesses, low unemployment, and strong SME performance is in a good shape. The dual factors from rapidly rising interest rates in 2022 to mid 2023 and the cutbacks in oil productions are having an effect on the private sector and the public sector, but both are being handled very well, and the Saudi economy is still in a strong position to deal with future challenges and grow reasonably well. And I haven't even mentioned all the parts of Vision of 2030 that are either on progress, are outperforming, or have already met their 2030 goals. Things such as female participation (which plays into job creation and SMEs) has hit its target 7-8 years ahead of target. Tourism numbers are outperforming, non-oil government revenue are relatively on track, and many other aspects are as well.
Liked your comment except about U.S. oil. Horizontal drilling plus fracking has actually doubled the amount of potentially recoverable oil. The U.S. has used about about a third of the oil in the ground, which means U.S could produce an amount of oil equal to all oil its produced in the past. It’s all a matter of price.
@@raybod1775 While it's true that fracking has resulted in increased potential resources, it's equally true that all the tight oil fields outside the Permian have peaked, with Eagle Ford peaking in 2015, Bakken in 2012, and Niobrara having peaked in 2019, so this indicates that virtually all the growth can come from one field: the Permian. The Permian basin has seen rather consistent decline in legacy oil production, and only new wells are able to compensate, but the improvement in new well performance has only been able to marginally increase recent production volumes, with the Permian being effectively flat for the first time ever this past few months, largely due to less drilling activity, but also a decline from the peaks of new well production. If it takes prices of USD80 per barrel for oil producers to reduce the number of oil rigs in the field and begin tapping their DUC inventory, that really speaks to the quality of the wells they are drilling and the costs they incur just to maintain profitability.
@@raybod1775 Even taking into account the additional reserves that can be economically exploited with fracking, it's also the case that most US tight oil fields have already peaked, such as Bakken, Eagle Ford, and Niobrara. The Permian is the only tight oil field that hasn't peaked, yet, but it will. Its legacy wells decline very rapidly, their output has been on a steady and consistent decline for many years now. New oil wells have seen a more recent resurgence, but that is only barely able to make up for lost production of legacy wells. When WTI hit $80, most US frackers started pulling back on drilling and are still doing so, even with current prices around the $80 mark, which speaks volume to the kind of costs they incur to maintain production, much less grow it. The Permian's total estimated recoverable reserves are still estimated to be the same as Prudroe, but Permian production is much higher. Unless oil is continuously discovered, then US oil production will peak and will decline, and sooner rather than later given available data on total reserves of fields like Permian.
Good answers. Can you help me to understand why media be happy when talk about norway economy even most of their export is crude oil. What makes norway economy has brighter future than saudi economy?
@@Ls-ex4mw I am not an expert on Norway's economy but in general, media perception tends to be longstanding and highly superficial ie. not looking at the whole picture of things and choosing to fixate on certain topics. For Norway, I think that it's mostly centered around their SWF that has become the world's largest, which I think gives this kind of "penis envy" that many economists have. I believe that this view is superficial because it's important to note that while an SWF could act as a safety buffer, it cannot deal with an uncompromising demise in certain industries, such as oil and gas, at least not at current scale.
I may be biased but the projects never scaled down in terms of final delivery, it was only delayed due to “overheating” spending a lot in a short time impacts the economy of the world, so neom will still be delivered as originally promised like all other projects. You people who don’t live in Saudi may see what he is doing is dumb but we the saudi people are proud and can’t wait for it to deliver.
I just switched my energy supplier in germany, and i "only" pay 26ct/kwh... 40ct/kwh would be the line where the state would start subsidizing your electricity costs.
Hey kids, debt to GDP ratio is the single most useless measure of all time, since GDP bears absolutely no relationship to a nation's ability to meet outstanding treasury obligations; the money for treasuries comes from the same place as fiscal expenditure: thin air. Wise up
Nadhmi Al-Nasr, CEO of NEOM, expressed his enthusiasm about the opportunities NEOM presents to the global investment community, highlighting recent achievements such as the largest public-private partnership for accommodation worth over SR21 billion, and a SR37.5 billion logistics services joint venture with DSV.
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Someone mentioned that trading cryptocurrencies is much more beneficial than holding them long-term, but I don't know who to seek advice from or who could trade for me
i think the more safer approach would be to decrease the kingdom's expenditures from extravagant projects and the sustaining the royal family's lavish lifestyle then focuse on buyinh government bonds and stocks of big companies that pays dividend with hundreds of billions in profit if saudi arabia invested their money they'll eventually make more money on their investments than what they currently making with their oil exports
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Everyone told them that this would not be financially viable. That The Line is impossible and it is a HUGE WASTE OF MONEY. This is the reason why Democracy will ALWAYS BE SUPERIOR because the people can at least demand to stop these vanity projects!
It's crazy that they could have just built super nice efficient cities with good trains and trams, cycle lanes. Perfect dense urban planning to create some real wealth by promoting investment in some solid industries like finance or law etc. but instead they have blown so much money on bs mega projects.
Everyone is roasting the Saudis in the comments and I totally get it. But……if this guy were to lose power it would be a tragedy. He seems to be doing more to bring his country, and the Middle East in general, into the future, at least in terms of human rights.
I agree, MBS basically stripped power away from the clerics (who hold a a lot of sway). MBS might have some really bad ideas but these clerics offer the average Saudi citizen nothing more than prayers and suicide belts.
They could try to focus on a skill/production based economy. But that would affect them on a societal level - a population that is more productive demands a better quality of life and is generally better able to create trouble for a dictator in power. Thus, the the Saudi government not only has to navigate an economic overhaul, but a political one as well.
Ohh so spending billions to have elite athletes compete in empty stadiums is a waste of money???
Who would've thought
well if you combine that with no one watching the games on TV, giving you no marketing potential either. Then yes it is a massive waste of money.
@@stian1236 people are watching on TV, tracking the numbers is hard as many just go to cafes/restaurants with TVs and watch there, or they'd get together with friends/family at someone's place. But probably just like for the stadiums, only the main events get attention
Tbf the stadiums are pretty filled.
The Saudis might as well spend their petro $ wealth while it lasts. That´s going to crash in the near future, transforming the dessert into a sustainable economy is impossible.
That line city is the single dumbest idea in all of human history. And that is saying something
It's in tight competition with the Children's Crusade, at the very least.
Huh, lots of competition there though. Caligula once declared war on Poseidon and ordered his troops to go to the beach and stab the water and throw spears at the waves. Otherwise there's this asshole who thought it would be a good idea to release all the birds mentioned in Shakespeare's plays on American soil causing an ecological disaster still felt to this day. Oh yeah, what about the dimwit who thought that adding led to engine fuel would be a genius idea and who ended up being directly responsible for hundreds of thousand, if not millions of deaths. Humans have been holding each other's beer for a long time now... and we're not done by a long shot!
Any gobshite who played Sim City for more that 5 minutes could have told them how bad an idea it was
this type of insane projects happens when someone who's kinda smart but not intelligent and has a lot of power and resources tries to be innovative but they think crazy insane spectacular shit is somehow innovation when really they're just stupid and a waste
They even executed a few people who spoke out against it. Those people spoke out against it because they had their land seized as part of the construction of it.
The line sounded dumb at first, but now after hearing about it for a few years, it sounds even dumber
ngl, you had me in the first half 🙂
King: we need to invest our money!
Advisor: I suggest blue chip stocks and stable companies
King: no, I want a thin ass city.....
......in the middle of the fcking dessert.
SAUDIS STEAL THE OIL AND GIVE IT TO THE USA, WHO FUND ISRAEL TO GEN O CIDE PALESTINIANS, BOYCOTT THE SAUDI TRAITORS
He had us all in the first half 😅@@CatOfSchroedinger
Dumb people generate dumb ideas
Who would've guessed that wasting billions on useless megaprojects would result in financial deficits...
You don't get it do you? The building will be really really really big. Like bigger than other buildings. Like the biggest of all buildings. And then everyone will clap and MBS wins at politics.
@@JongeKroostyeah and that will replace oil money? Once the oil is done the entire Middle East economy is done. They'll be just like another African nation.
I think he's being sarcastic.
@@martin96991
He's clearly being sarcastic
Qatar will be fine, they got enough cash in their wealth fund to maintain a nice lifestyle for the next few decades without oil money
Just avoid any Saudi embassies in the next years, guys.
You pretended like there is going to be presidents watching.
Don't forget the consulate in Istanbul.
Like if your government agents did not assassinate anyone.
Sure
Especially when the wood chipper is delivered
The line is definitely made of pure white Columbian
Lolll
They’ll need it to march from one end to the other.
🤣😂🤣
i can tell you one thing. if drugs are the only thing going for saudi arabia ; and no more oil is being used because everyone now is on electric instead of fossil fuels? saudi arabia will look like afghanistan in 10 years.
@@ChickenMcThicckenmore like half of that time, never underestimate what the radicalized salafist clergy is capable of.
So the line got cut 99% to just 1%? ... Is that not the same as cancelled?!
It didn’t get cut, theyre doing it in phases
the dot
the dash XD
Just buy an island instead, expand eez
@@kp5602 they cancel it in phases? do they think it is less embarrassing?
Well explained. Thanks for bringing up the video. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject…
Most people think, investing in crypto is all about buying coins and leaving it to rise, come on it takes much analysis to be a successful crypto trader.
Trading without professional guide...Huh I laugh you, because you will remain where you are or even make huge losses that will stop you from trading, this has been one of the biggest problem to new traders
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I know someone who can help you Olivia Brown
What economy? Millions of third world slaves, Western skilled workers and a petrodollar-funded indigenous population
Exactly
Don't forget porta potty Instagram models
@@ramicollo they are in Dubai. for now...
@@samsadeniz for the longest time, I thought Dubai was in Saudi Arabia 🤯
@@ramicolloDubai is in UAE it's a different country
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in Saudi Arabia.
Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over $150k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look.
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MBS is the equivalent to a ego filled trust fund baby who thinks that market research and risk management is for losers.
MBS stands for "maximum bullshit"
Who do you think is providing the consulting, logistics, market research, risk management, blue prints, etc.?, I'll give you a hint: McKinsey , BCG and their likes. PwC paid their London employees bonuses from the money they got from Saudi.
Is he Saudi?
@@MrSpiderlionsif the king is a complete idiot, why waste time making a complex business plan? Just make so cool looking cgi with catchy words and that is all he cares
SAUDIS STEAL THE OIL AND GIVE IT TO THE USA, WHO FUND ISRAEL TO GEN O CIDE PALESTINIANS, BOYCOTT THE SAUDI TRAITORS
I mean who in their right mind would even think of building a linear city. It just shows that having money doesn't necessarily go with having common sense.
I feel bad for all the engineers who were forced to agree it was a good idea. I have a feeling you aren't allowed to disagree with the Saudi royals.
@@DeLorean4 don't worry, they are usually employed by western companies and make a lot of money. that's also the reason they would never tell them how stupid it is.
@@عبدالرحمنعبدالله-ز4م it's even funnier when you guys behave this arrogant despite never having achieved anything. bragging about things you have only announced seems to be a an important part of culture in these oil states
Who would've thought the guy who cuts critical journalists into tiny pieces is bad at listening to constructive criticism of his... let's call them economic development plans.
Yeah, it's shocking that people seem to have forgotten about that.
@gstrathmore194 most people don't know the truth. MBS is a stabilizing force in the region, modernizing a really backwards society. You think the US or the west can do better? No. It takes an authoritarian leader to do that for muslim societies that preach violence. MBS has some serious flaws but there's no better alternative.
He ID not and our economy is fine
You are using pictures and slides of Dubai when talking about Saudi, pretty poor journalism.
Who cares
@@MogauLephaka ok I will make a video about the US and will put pictures from the UK
(Typical british.)
@@MogauLephakaAgree…I am here for the narration and info, the images are a a filer and backdrop.
And if the background for a story on future big cities is Dubai, which the Saudis seem to be emulating….I see no issue there.
Both have the same vanity issue so...
Considering how cheap their subsidized energy prices are, they should be looking at diversifying into industry. The Arabian-Nubian shield geographic region is pretty well known to contain deposits of gold and many other critical metals and minerals; I feel like they should be looking at diversifying into the mining sector.
I think MBS wants to create an alternative to extractive industries.
@@aritragupta4182 understandable. Though with most mining operations by far the biggest overhead comes from the cost of fuel. So Saudi Arabia is still in a unique position to make the industry profitable. 5300+ potential commercially viable deposits have been found on the Arabian peninsula side of the Arabian-Nubian shield alone.
@@aritragupta4182they are already fighting for African resources with UAE. The sahel and horn of Africa is their battlefield.
@@Heegooatnonsense
Theyre currently doing this, you should check out their national mining company MAADEN
Does the Vision 2023 mention Saudis actually showing up to work for a whole day, every day, every week? Coz that seems like super duper important.
Will never happen. Nothing gets done in that country without some foreigner doing it. From the bottom to the top
Im a saudi and I show up for work all the time, so do most saudis
@@kp5602do people show up at Arab o'clock or on time? Jk lol
@@kp5602 but do you do any work? And if you do is it productive?
@@kevinbarry71not your business it's his private life 😊
Spending money on improving the country ❌
Spending money on vanity projects ❎
Allegedly
@@hydronpowers9014😅😅
Imagine if these gulf countries spent that on building a semi conductor industry to compete with Taiwan ?? They’d be minted - but nope too late now …
Saudi is literally spending money to improve the country
who said Saudi isn't trying to improve the country?
so we should stop calling The Line and start calling The Dot.
The line
@@عبدالرحمنعبدالله-ز4م
There really isn't much left to be proven wrong about the line anymore. Everything that could have gone wrong already has. The design is nonsensical, the investment hasn't arrived and it's already been scaled back to 1% of its size.
This is a pretty standard outcome when attempting to boost a planned economy that has already maximized output.
Planned economies like the USSR, North Korea, China, and many others often see a boom in productivity when starting from nothing, but then they hit a peak. As the economy grows it grows more complex. It eventually grows too complex for any single person to be able to handle it well. The country then either tightens down on authoritarian measures oppressing opposition and the economy stagnates similar to how the USSR stagnated for decades, or they loosen up restrictions and allow the economy to control itself in a more democratic way. South Korea is a good example of this. It started planned and loosened up and became more democratic. Japan too, though this happened in the 1800s. China is an interesting blend where it loosened up a bit but hasn't let go of authoritarian control and is now beginning to face the same stagnation issue today. Saudi Arabia is in a similar boat. It's economy is too controlled. The solution to growing and diversifying the economy up is not to play SimCity and build a bunch of industry. Instead the solution is to focus on education, stability, and an openness for businesses to function organically. The more educated the population the more profitable the businesses and its people will be, so in the end education becomes paramount. This is something the US could learn as it's public education has been going downhill over the last handful of decades. This leads to people in the US growing poorer over the generations.
Saudi Arabia could copy a blend of both Singapore and Norway. This way it wouldn't need to reinvent the wheel. There are countries that have already gone down this path and have found success. Right now Saudi Arabia is mirroring the attempts from countries that saw their economy stagnate. It's not too late. MBS is smart. Maybe he'll figure it out.
I agree that market freedom is the most sustainable way of running an economy. But Norway had an economy before oil and even now it accounts for only 1/4 of GDP, even though their exports are 3/4 oil. The difference being that Norway is much less reliant on exports than Saudi. They have a home grown economy equivalent to any non oil European economy. And Singapore is a city state and reliant on trade which I personally think is an aberration that has thus far been much touted as a model by economists but has never really been successfully duplicated.
The Saudis were camel herders that found oil and quickly became a nation used to little work for lots of compensation - probably just like any other would. Changing that, successfully, will be rough.
Saudi Arabia is far from planned economy
Glad to read a comment from someone with a broader view of economics. MBS is trying to modernize as fast as possible, but he is constrained by fundamentalists, lack of infrastructure, large entitled royal family and societal inertia.
@@raybod1775 I wouldn't say that he's constrained by those first three. Did fundamentalists tell him to spend billions on a handful of soccer players? I'd say not. Did lack of infrastructure stop him from attempting the line? Did a large entitled royal family tell him not to concentrate the country's economic power into the hands of the state and, ultimately, the royal family?
Social inertia is definitely the problem. You have no idea how hard it is to get people to do things as simple as show up on time and do honest, transparent work.
Is not a planned economy, your comment is off
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The problem is not the single industry. It's the single ruler.
You are telling me the Line and Octagon were terrible ideas for spending money. What a shock
I'm literally shocked 😮😂😅
Running a deficit after a whole producer is still cut from the global supply chain is impressively incompetent
I can feel the hate with hundreds of comments. Yall wanna see the arab world fall on its face instead of flourish.
Oh poor them. As soon as they ditch idolising their fake pdofile prophet then I might give a shit about their development.
I don´t think hate from others is doing that, aibel. It seems the arab world is pretty much taking care of that themselves...
Saudi Arabia is the scourge of Arab world.War in yemen,bending over to Isreal and the US,promping terrorist organisations all over the middleeast All those wealth and they decided to waste it on vanity projects and licking boots of the US instead of helping the so called "Arab World".
Please tell me that none of you ACTUALLY have any faith in that Line project
It would be nice if they actually build it because then everyone could see how stupid it is in real life and that might stop some other projects... And I would be glad if its the saudis money and not my own countries money...
All the budget went into marketing it, so I’d say the majority of the population haven’t really looked into it enough to see the holes perforating it.
@@timowagner1329 I’d say it’d be good if it reached an early stage of construction, proving the dumbness without wasting too much money, for the sake of the people in Saudi Arabia, who might need their state to have some money left over for, i dunno, welfare
@@Banter07 sure welfare would be nice for the average saudi citizen, but (at least for now) they are not that important in a political sense - who knows, maybe these money pits could spark some change in the political landscape in Saudi Arabia :)
@@timowagner1329
You guys sound like colonial administrators meeting to discuss some “lesser peoples” you control.
Im a saudi myself, we DO have a welfare system and our utilities are heavily subsidized, our education and healthcare sectors are free, not sure why youd speak on my country if you didn’t bother to learn basic facts about it beforehand.
And if you think people are going to “create political change” you definitely don’t know what you’re talking about, no one here is angry at the government or pissed off, theres independently-ran opinion polls which show that.
Financial ruin will underpin a different political problem as well.
That of authoritarian repression. While it hasn't been reported in international media, but many of these projects and reforms came on the back of extremely cruel repression. The land of the line project was inhabited by an old tribe who were forced into eviction and when people protested, they were sentenced to decades in prison. The social reforms of women's rights came as the orignal advocates of the reforms were jailed and tortured. Imams who spoke against the concerts were thrown into jail as well.
All of this was done with the hope that it will bring about economic greatness. And when that doesn't come, this entire house of cards comes tumbling down.
On a related note, an ever expansive government bureaucracy and it's jobs, even when not needed is a problem with all GCC states. I wonder what happens when the state cannot afford to keep a useless bureaucracy on a payroll problem that can only be exacerbated by AI.
"Im gonna draw a line here"- some servant- "He wants to draw a line" - some drugdealer "- and he wants a line, long as a continent" - some architect " and its gonna be a city". Meanwhile, they could have all that for cheap, with a damn and a greenhouse- cover over for a wadi.
place that is a heaven for taxes and where population is not motivated to work is a perfect recipe for future disaster; not the most motivated and philantropic people living there
MBS is desperate, because he knows oil wont last forever
The amount of hate in the comment section should tell you how much some westerns would die to see Saudi fails 😀
You see, Saudia betrayed Muslims in order to please the West, and despite this, the West was not satisfied with it
Saudi arabia is cringe
They hate kingdoms but still happy with norway kingdom.
I am glad you did touch on the social reforms MBS is making in addition to the economic stuff you normally discuss
Why
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Electricity in Germany is not 45 ct/kWh! You also have to be careful since househould, indistry and retail have different tariffs …
I'm middle eastern, you won't believe how saudis actually think they are a developed nation and that they are 500 years ahead of the world just because they are rich, we try to tell them that being rich dosent mean you live in a developed country and this richness is all of because of the oil and slave labor from south asia, once the world finds something better than oil and the workers stop being enslaved and go to their homeland you will go back to living in tents, their only response is always: "you are just jealous of our development".
it's to be expected. They aren't educated, therefore, it's not possible for them to know any better. They believe the government propaganda. All governments tell stories favorable to themselves. I agree, their ignorance will come back to bite them with a vengeance.
Egyptian.
This is not a saudi problem, these kind of responses always happen with those that defend their leaders, its the same case with those that support sisi, anyone against him is just an ikhwani and a traitor to the nation and jealous of their development.
The new capital is just another "The Line"
@@عبدالرحمنعبدالله-ز4م wow. That's all I gotta say.
@@عبدالرحمنعبدالله-ز4م with what was that built? Saudi experience? Their expertise or education and knowledge?
Or slave labor and skilled workers from the west?
liar 😂
6:34 why Venezuela production is always very low , even though they have the largest reserves
Apparently, building a futuristic miles long horizontal skyscraper apparently cost a lot of money.
you could do a version of the line that was much shorter, say 10 stories, with nodes around station stops going higher (perhaps at a later date once the concept was proven). the height of the thing doesn’t make sense. I mean the whole thing doesn’t make sense, but IF you were going to do it, the money would go further if you did it at a more modest scale, at least initially.
Norway just sitting in the corner, on top of a huge pile money. And still not getting ronaldo.
I mean, what Norway is doing is the smart way to manage oil money.
Hey TLDR ! I would love to see a video on Bahria Town, and DHA in Pakistan. These are private cities, in the country which further the wealth divide in country, which already has a huge wealth divide. I think it would be really interesting to know the exact numbers, as well as the environmental cost of these new dystopian private cities.
I am curious how much oil is actually left in their ground. They are very secret about it, unlike other oil countries. Also, their behaviour makes me think they don't have as much left as they would like us to believe.
I could be wrong, but something isn't adding up.
Don't they also have a lot of gas as well.
To quote former oil minister of Saudi Arabia Sheikh Ahmed Yamani: "All in all, I wish we had discovered water instead."
Yeah oil isnt a good resource as people think. Its like getting a free wish that comes with a catch.
If he actually said that then you know to never take him serious ever.
@@Directlite664 Look up the list of countries by oil reserves and compare it to the list of countries by human development index as well as Freedom House's Global Freedom index list. Not only they don't match, there is practically an inverse correlation between the first and the last 2.
Oil is a curse.
Now dial back Neom to 0.015 miles and they are almost there.
What they need to fix is laziness.
What makes you say that
@@user-op8fg3ny3j Saudi citizens enjoy everything subsidised and rich government jobs while all your actual labour is done by poor migrant workers from the Indian subcontinent or SEA trapped in slave contracts.
I
And you need to fix your ignorance for saying something so outdated and stupid.
Truth hurts. They are very lazy. Nothing comes out of that region that doesn't destroy this planet. May it be fossil fuel, plastic and it's cult.
I went to saudi for work for the first time in 12 years last month, and it was quite jarring to see so many women working in Riyadh. This was a country where you could never see a woman going anywhere without a chaperone to then see them working, and driving around is quite surprising to me. It shows the power that MBS wielded that even the whabbists succumb to his demands.
I honestly can't tell whether or not you think women shouldn't work, but if that is the case... I'm wondering where you have been in the last 12 years.
@Chrissy717 i used to commute to saudi once a month for years in the late naughties monitoring their water desalination plants. Working women is normal from our part of the world, and not seeing them anywhere when i first arrived there was quite alien, but after a while i got used to it. When i arrived in saudi last month, that part of my brain clicked back in, and I was ready not to see women anywhere alone. But when i first landed and saw them at the immigration checkpoint, stamping passports, i never thought i would see the day that someone could force the hardline clerics to change their ways.
He is indeed trying to reform the country and provide human right, but even he is under pressure from the religious nuts. Recently his government jailed a female human right activist for posting pics wearing gym clothes which they deemed "inappropriate". So, still miles to go.
@@ilovelimpfries mbs is worse than a wahabi, he's a madkhali
I support womens rights, but I think pushing women into the workforce like that is done with capitalistic intentions to intensify competition and drive wages down to serve the interests of capitalists rather than to promote "equality". I think genuine support for women's rights is emancipating them from the grips of capitalism, granting them opportunities to pursue more education and self-exploration, and granting them more equal legal rights and more government program support.
Unfortunately, without oil, these people will go back to living in tents in the desert within the next decade.
may be not the next decade but yeah. And, first, there will be a dune 3-like humanitarian cataclysm that will make look Gaza like childplay. Because, when they were living in tents, Saudi Arabia had barely 2 millions inhabitants. Now it has 20 millions inhabitants (plus 10 millions slave-worker foreigners)....so yeah, it's going to be ugly....the infortune will be, their degenerate upper classes will probably flight to the West before it collapses....
Thank god
You say that like they care. Arabs will survive
@@user-op8fg3ny3j Maybe if it happened 50 years ago but now most will just wither away. I doubt any of them have any grit like the Palestinians after years of opulence and luxury.
I bet they have houses now they will not disappear just because oil money diminishes, they have a “small” population of 18,800,000, also they have a sovereign wealth fund so they will not lack money but instead of everyone spending money on vanity plates to flex , most will become like people in the west, richer than half the world but not so rich that everyone drives a Mercedes g wagon
Saudi would've done a lot better if it used its infinite money glitch on more normal projects like promoting businesses, investments, promoting real estate, tourism, making factories for stuff like car manufacturing, pharmaceuticals, and others in smaller provinces, etc in already existing huge cities such as Riyadh, Jeddah, Dammam, Medina instead of making THE LINE. Honestly, I used to (and to some extent still like) the Neom project as being this new techy super-urban city, but the Line was outright stupid.
Thats what the vision is about. The vision actually cares about all these aspects and there developments and contracts signed with many card companies to open industries here
We actually investing in all of that you said. and we see it every day when going to school \ work in every big city
Diversify your economy kids, you don't wanna fall like the little petrol economy of Venezuela
Venezuela destroyed whatever diversified economy it had with price control, nationalization and bureaucracy.
@@shauncameron8390 This too, but they also were pretty dependent with oil
Yes we diversified. I don’t what is your country but a commentor who is not a minister, CEO, investor, rich, and does not work for the highest job position in the government or private sector should not speak.
To be fair, saudi is diversifying
Is that a report or a show of what you wish? Cuz it seems like that
can you imagine if all that money spent in stupid things (what the hell, let's just say 10% of that) was well spent in things like investing in solar energy or studying how to try to gain terrain to the desert planting vegetation?
The Elephant keeps walking as the Dogs keep barking 🇸🇦
The problem is elephant is dying and dogs are still live and healthy. 😂
I think, that Vision 2030 was a mistake. Sure, the Saudi may be overdependent on oil, but I think, they should have doubled down on it. There is the argument of oil going down in price, hell, even being banned, but what is overlooked, is, that even completely banned substances are still in use, though not quite as extensively. When it comes to ban on oil, usually, that is not meant as complete ban on the entire substance, but rather on certain products from it or certain uses. The one most discussed recently is fuel and even further in the past had been and still are plastics. Here is the reason, why I think, they should have doubled down. Oil is source material for some 40 000 items ranging from fuel and plastics through fertilizers to medicaments. As the West keeps walking away from oil, the price will begin to fall and countries, that produce oil, but have higher production costs will begin to fold their operations. Saudi Arabia has the lowest extraction costs for crude oil on Earth. If they maintained their oil extraction plants and expanded properly into refining the oil into more advanced products (which they do to some extent), particularly eyeing the medical field, they could create virtual monopoly on production of some drugs and materials used in hospitals, greatly prolonging their revenues from oil and capturing greater share of money spent on these applications. You could argue, that nations on Earth would want to see lower emisions or impose carbon tax on these products, but let's face it. No politician would ever risk creating shortage of infusions and literal blood bags in their country by introducing carbon tax on the only practical container for life saving substances or the life saving substances them selves.
Remember folks....
The only way to make a ton of money with oil is when a war is going on, so financially, it is not convenient for Saudi Arabia or other OPEC countries to solve conflicts or wars. If a crisis lasts longer and affects the supply lines, it is better for them.
Yes, it is not only the US and Russia that profit from war.
Forget this folks. It is cartoonish.
Come now, you know that's not true. Certainly, oil producers are incentivized to prefer wartime, but it's not like you can't make a shitload of money from selling oil in peacetime.
@@sino_diogenesthe times when oil was very profitable during peacetimes was during the oil embargoes spiking prices to the moon. If you artificially restrict supply now then other producers will fill the void.
Peacetime is extremely profitable unless you're an arms manufacturer.
That is geopolitics games and not about profit 😂
if oil prices increase the USA citizens will implode like in the 70s and they will blame Biden, in Europe we have higher fuel prices than USA and they still complain about it, if what happened in Europe after the wr, the USA world riot, we didn’t riot , we just complained about it😂
That’s great news!
the image used at 0:50 is of dubai, uae not saudi arabia
"Ultimately underpinning this video.." is the same sponsor as most of your other videos.
Keep in mind Saudi Arabia is mostly arid desert, has no rivers. The sand is not fit for building or growing crops. They really have nothing other than oil and natural gas and some mineral. So seeing kingdom go for extremes in trying to find alternatives is honestly understandable. What would you have done if you were in their shoes? Some people have to make hard decisions. Some just open their mouths and criticize.
Saudi Arabia has green mountains and it is not all desert.. abha, al baha, jizan the south of saudi is green.
I'd run a sovereign wealth fund and invest in other countries to make dividends so that wealth flows back once the oil reserves run out.
Turns out basing an entire economy on hard-limited ressources is unsustainable.... In other news, water is wet !
The lowering of oil demand is such an exciting thing, a future with lower reliance on these countries only has positives ❤❤
We’re gonna abruptly halt your battery production.
A lot of Saudi bots in these comments. Might as well use the money while you can it seems
R u sure we are bots 😂?!
bots?
found the bot guys lol
Sounds like a classic case of pride goeth before the fall. They had every opportunity to spend their money wisely back while they were coasting on oil, but nope. And now here they are, unable to learn quickly enough as peak oil approaches.
Who do you mean by (They) Saudi Arabia is a tribal dictatorship state that inherits the people as you inherit real estate and furniture to your children and family!! There is no freedom of opinion or any regulatory bodies on how to spend the money and where
@@mmgxoJesus Christ dude...
That's what happen when the ultra-pampered kids with no real business skills are handed insane amount of f-you money to manage.
I'm interested in investing, but I'm not sure where to start. Do you have any advice or contacts who can help me out?
Investing can be complex, so it's smart to get professional guidance when building your financial portfolio.
It's a great idea to have a conversation with financial advisors like Naomi Dean to reshape your portfolio.
I spread out my $25k portfolio across various markets to diversify my investments.
That's awesome! I ended up making a net profit of about $115k by investing in high dividend yield stocks, ETFs, and equity.
How can I reach her?
The more i see western especially American talking about country or president in a bad way is something nice which means they are going in the right way .
One has to question the true size of Saudi reserves. ARAMCO releases questionable data at best.
The Saudis do have the infrastructure to increase and decrease their production at will like no other country but for how long.
Would the changes be happening if the Saud family was not worried about their position?
Their reserves aren’t the problem. Even without concrete details one could estimate they have hundreds of years in reserves, but if history is any teacher, technology evolves at lightning pace, and 50-60 years from now if they haven’t gotten their ducks in a row they’ll be worse off than Venezuela
Such an odd plan. I can’t imagine many in the West seeing an ultra-conservative, strict religious dictatorship as a tourist or business destination, and these projects seem like they will not age well…..they are too trendy, and will be dated in 10 years.
What comes easy, goes easy
Why did those oil data end at 2016? Surely we have more recent data!
First of all, you should change your channel name from Tlder to a toddler channel. Most of your pictures and videos are not from SA its more from Dubai which is misleading. I would highly recommend you to visit SA and see yourself. You could also ask and visit some International firms and companies why they are moving to SA it become the kaapa of investment. Last, we are moving very fast with confidence and giving a shit about such an argument.
Ameen
When you don't invest your money in improving quality of human resources (education, cultural development ...) the money you spend is a waste... they are focusing on the wrong things.
I may not be the most financial savvy person, but spending billions on a line city through the desert probably wasn't a good investment.
They actually could have given Egypt a good run for their money! (Especially seeing Egypt being a garbage state)
The location in North West Arabia, means that out of the whole country, that part is the most temperate.
Then they went and messed it up! If they had invested in a circular city at the very least they would see return on investment.
The problem is for them is that by trying to cut oil production to push the price up, they are playing into the hands of the renewable energy sector that's getting better and cheaper all the time.
It's very likely thanks to renewable energy that there's going to be constant downwards pressure on energy prices, and considering the EU, US and China are investing big in renewables, countries that are either too dependent on fossil fuels or get a lot of revenue from them need to adapt and adapt fast, because the good times are quickly coming to an end, especially since Putin invaded Ukraine and made a big push to have more energy security, which renewables can deliver.
What countries like Saudi Arabia and others like them need is smart investment choices, which they seem to be wasting a lot of money on projects that don't deliver a good return.
The irony is in all this is that countries that sell a lot of fossil fuels are going to have a major headache maintaining the economy without major reforms and changes, which are not going to be comfortable with the majority of the people in those countries, on the other side of the coin, the countries that benefit the most from this cheap clean energy are the ones that have very few fossil fuels and are already paying high energy prices, Europe and especially EU countries could be in a good position to benefit a lot from that, producing a lot of that energy internally, which means that money isn't being exported, and eventually, the cost of energy should be a lot lower, throw in booth together and EU countries could go through an economic boom, far more money to invest whiles energy bills are much lower, other countries like Japan could benefit a lot for the same reasons.
I've always seen countries that have a lot of fossil fuels as being more of a curse than a blessing, most are not very good at taking advantage of it in a responsible way, Norway being the exception to the rule, whereas countries that don't have fossil fuels are forced to do the reforms to stay ahead and competitive, so imagine that these countries don't have to spend hundreds of billions in exports to buy energy and then energy prices come down a lot internally, it's got all the potential to do an economic boom.
In any case, the likes of OPEC trying to cut production to push prices up is a fool's game, by doing so, they are making renewables far more competitive and giving countries a bigger incentive to move away from fossil fuels sooner rather than later, in that sense, Putin being a buffoon in Ukraine has done the world a favour by waking us up and pushing the renewable agenda up the ladder.
The fact is that demand for oil is always increasing... Renewable Energy does not replace oil completely
@@fnbstn32 Oil is like coal it has had it's time. In Canada, First Nations are pushing for the govt to stop drilling oil on their lands because it pollutes the water.
Reminder that SA has a gdp roughly equivalent to the US state of Pennsylvania. All the oil wealth, the wellfare state it enables, and the fabulous wealth of the royal family overshadow the simple fact they truly have practically nothing else going on.
There is something going on
you are incredibly ignorant of the saudi economy
Also important to remember that oil will always be used, even if demand does decrease over the coming decades. Saudi also has a sovereign wealth fund worth $925 billion. I do agree that Saudi is just a petrostate and most of the work is done by foreign exploited labour, but its important to not underestimate Saudi given the natural resources they have
“Vision 2030” reminds me of the Trailer Park Boys’ “Freedom 35”
The 45ct/kWh price given for Germany is wrong. For consumers it's 30ct, for industry around 10-15. Still quite high, but no need to exaggerate.
Will be interesting to see this decline on a graph as opposed to the increase in revenue for McKinsey, EY, Accenture, etc in the region.
"I’m tired of being told that out of “tolerance for other cultures” we must let Saudi Arabia use our oil money to fund mosques and madrassa Islamic schools to preach hate in America, while no American group is allowed to fund a church, synagogue or religious school in Saudi Arabia to teach love and tolerance." - Robert A. Hall 🇺🇲
Majority of mosques are grassroot funded
Ahhh... from spreading democracy to spreading love and tolerance.
well saudi is considered like the vatican, same way u cant build non christian sites in vatican, it goes the same for saudi arabia too, other muslim countries have and do build other religious sites different from islam
@@enceladus4900there’s a difference between the Vatican, a very small section in Rome directly controlled and operated by the church, and an entire nation of Saudi Arabia filled with cities, towns, villages, industries, and secular developments. Saying no non-Islamic sites in actual holy areas is understandable. Saying no non-Islamic sites in the country is intolerant.
Every nation is different , evry society has their own way of life and the way they see the worldI would not want a church or a mosque to be built in my natio. Because i see both of them as expansionist way of life so i dont desire going to a christian or a muslim nation i always say to my people let us industrialise but never take the way of life of those groups and let us fix our own problems.@dex6316
The Line is now only A Point.
What you need to understand is that the increase in borrowing was communicated to the public in advance and it has been a government policy aimed at increasing the international markets’ connectivity with the Saudi economy. Furthermore the change in the stance on fundamentalism is aimed at unrooting the extremist ideology preached by the Muslim Brotherhood, and it is extremely popular due to the growing resentment against them and their motivations.
What exactly is extreme about the Muslim Brotherhood?
@yahya When you are so blinded by religion your head is firmly up the rear end of Islam, you won't see anything wrong with it.
@@AizenIsKubo So you know all about me based on a question I asked? Please, tell me where I was born, where I have lived, where I've studied, and my entire life story. If you can do that, I'll take your comment seriously. Otherwise, you're just another internet troll who wasn't able to answer a sincere question I asked without any prejudice.
@@yahyazekeriyya2560 Yes, I did. If you have to ask that question you are so blinded by religion your head is firmly up the rear end of Islam, you won't see anything wrong with it.
Did I stutter? I will keep repeating this over and over again.
@@AizenIsKubo Cool beans, kiddo. I bet you're not even a real person. More like a bot or something because that's how you're acting. You can have the last word if you want, engaging with pseudo-people like yourself is nothing but a waste of time.
When you want to change the economy at that pace, it’s normal to have hiccups along the way, hiccups that may cost billions. The world sees only the headlines but there is a lot of change throughout the whole society. It becomes a trend to criticise everything Saudi does but overall I think that they are on the right track👍🏼
wait, building a city in a narrow straight line.. is a colossally stupid waste of money? Next you're going to tell me that Building a bunch of islands in the vague shape of a small earth out of sand will also be a waste of billions.
Maybe they should build entire cities based on a straight line where no one will live
Ok so:
1:33 the Saudi government oil revenue accounted for 62.2% of total revenue, with oil revenue down 12% yoy with a 2022 average of 10.6 Mbpd and a 2023 average of 9.6 Mbpd (a 9.4% decline in oil volumes production). Further, non-oil government government revenue rose 11%, from 410.9 to 457.7 billion riyals.
1:44 regarding private sector the number of Saudis working in the private sector has increased to 2.3 million, with the latest monthly data I could find being that 28.1k Saudis joined the private sector in March 2024, 18.1k in April. In total size, the private sector has grown from 10.8 million in Nov 2023 to 11.2 million by April 2024 (not a sign of a bad economy). The percentage of Saudis working in the public sector is 51.1%, not 66.6%.
1:51 "Well below market price" is a massive overstatement. The Saudis capped the internal cost of crude oil (and they do something else for nat gas but I'm not sure how that works) but for crude oil they capped it at $70 per barrel, with a production cost of under $10 per barrel, estimated at about $3-$7 per barrel. This cost of crude for internal use has been increased by Aramco since then, with cement and petrochemical companies being affected, I couldn't find the updated figure for this.
3:51 countries leave OPEC and rejoin, Angola, Ecuador, Indonesia, and Qatar have all left at one point, but they are either small producers or are net importers.
4:37 they didn't reduce the total size of the line, they simply changed the targeted population by 2030, the full length is still 170km.
4:55 the ministry of energy directed Aramco to put the plans on hold, that's because Aramco's spare capacity stands at 3 Mbpd, which is equivalent to the Canadian oil sands nearly. Aramco can still undergo the process of increasing capacity by 1Mbpd within ~4 years if asked to do so by the government.
5:18 the MoF has announced 2% yearly deficits as a share of GDP until 2026, with overall economic growth expected to be well above this, with 2024 expected at ~3%, and average to 2026 at ~4-5%, which is hard to predict and the ranges provided by the MoF on yearly deficits vary based on low to high income scenarios based on volatility in oil markets, but their deficits are a) very low as a share of GDP, b) sustainable and c) given their low base is completely affordable.
When you stated non-oil economic growth, keep in mind interest rates have risen from ultra low 0.25% to nearly 6% in the kingdom, in line with Fed increases. These take 12 to 18 months to go through the economy, as such a slowdown in growth is to be expected.
6:37 ok no, not at all. The last time Saudi Arabia increased production to maximum levels, global prices fell by 30% in one day, so no it would not "comfortably offset decline in prices". The market needs to be balanced in the long term, and simply flooding the market would harm KSA far more than it would help.
As a note on global oil demand, it is nearly impossible to predict the fortunes of Saudi Arabia, whether good or bad, today. That is because the largest issue they have faced in the past 15 years has been US shale, however the total size of US oil reserves stands equal to that of Algeria, yet the US produces 10x more, and the largest US field, the Permian, is the same size as Prudhoe Bay, which itself peaked at about 1.8 Mbpd, so it's hard to see how the Permiam (which pumps at 7 Mbpd) can possibly keep up this pace. A decline in Permian, and by extension US, oil production, would have dramatic effects on the oil markets.
Another note needs to be taken that KSA has handled and come out of the covid pandemic extremely well, with the handling of the health and economic situations being extremely competent.
Overall the Saudi economy, with a strong jobs creation, low debt levels across households, government, and non-financial businesses, low unemployment, and strong SME performance is in a good shape. The dual factors from rapidly rising interest rates in 2022 to mid 2023 and the cutbacks in oil productions are having an effect on the private sector and the public sector, but both are being handled very well, and the Saudi economy is still in a strong position to deal with future challenges and grow reasonably well. And I haven't even mentioned all the parts of Vision of 2030 that are either on progress, are outperforming, or have already met their 2030 goals. Things such as female participation (which plays into job creation and SMEs) has hit its target 7-8 years ahead of target. Tourism numbers are outperforming, non-oil government revenue are relatively on track, and many other aspects are as well.
Liked your comment except about U.S. oil. Horizontal drilling plus fracking has actually doubled the amount of potentially recoverable oil. The U.S. has used about about a third of the oil in the ground, which means U.S could produce an amount of oil equal to all oil its produced in the past. It’s all a matter of price.
@@raybod1775 While it's true that fracking has resulted in increased potential resources, it's equally true that all the tight oil fields outside the Permian have peaked, with Eagle Ford peaking in 2015, Bakken in 2012, and Niobrara having peaked in 2019, so this indicates that virtually all the growth can come from one field: the Permian.
The Permian basin has seen rather consistent decline in legacy oil production, and only new wells are able to compensate, but the improvement in new well performance has only been able to marginally increase recent production volumes, with the Permian being effectively flat for the first time ever this past few months, largely due to less drilling activity, but also a decline from the peaks of new well production.
If it takes prices of USD80 per barrel for oil producers to reduce the number of oil rigs in the field and begin tapping their DUC inventory, that really speaks to the quality of the wells they are drilling and the costs they incur just to maintain profitability.
@@raybod1775 Even taking into account the additional reserves that can be economically exploited with fracking, it's also the case that most US tight oil fields have already peaked, such as Bakken, Eagle Ford, and Niobrara.
The Permian is the only tight oil field that hasn't peaked, yet, but it will. Its legacy wells decline very rapidly, their output has been on a steady and consistent decline for many years now. New oil wells have seen a more recent resurgence, but that is only barely able to make up for lost production of legacy wells.
When WTI hit $80, most US frackers started pulling back on drilling and are still doing so, even with current prices around the $80 mark, which speaks volume to the kind of costs they incur to maintain production, much less grow it.
The Permian's total estimated recoverable reserves are still estimated to be the same as Prudroe, but Permian production is much higher. Unless oil is continuously discovered, then US oil production will peak and will decline, and sooner rather than later given available data on total reserves of fields like Permian.
Good answers.
Can you help me to understand why media be happy when talk about norway economy even most of their export is crude oil. What makes norway economy has brighter future than saudi economy?
@@Ls-ex4mw I am not an expert on Norway's economy but in general, media perception tends to be longstanding and highly superficial ie. not looking at the whole picture of things and choosing to fixate on certain topics.
For Norway, I think that it's mostly centered around their SWF that has become the world's largest, which I think gives this kind of "penis envy" that many economists have. I believe that this view is superficial because it's important to note that while an SWF could act as a safety buffer, it cannot deal with an uncompromising demise in certain industries, such as oil and gas, at least not at current scale.
I may be biased but the projects never scaled down in terms of final delivery, it was only delayed due to “overheating” spending a lot in a short time impacts the economy of the world, so neom will still be delivered as originally promised like all other projects.
You people who don’t live in Saudi may see what he is doing is dumb but we the saudi people are proud and can’t wait for it to deliver.
Saudi Arabia is ehat happens if you give a Techbro unlimited money
I just switched my energy supplier in germany, and i "only" pay 26ct/kwh... 40ct/kwh would be the line where the state would start subsidizing your electricity costs.
Hey kids, debt to GDP ratio is the single most useless measure of all time, since GDP bears absolutely no relationship to a nation's ability to meet outstanding treasury obligations; the money for treasuries comes from the same place as fiscal expenditure: thin air. Wise up
Tell that to the holders of a country debt😂
@@santostv. They're overwhelmingly and acutely aware, kiddo. The only people who don't know are economists and average Joe
Nadhmi Al-Nasr, CEO of NEOM, expressed his enthusiasm about the opportunities NEOM presents to the global investment community, highlighting recent achievements such as the largest public-private partnership for accommodation worth over SR21 billion, and a SR37.5 billion logistics services joint venture with DSV.
Thanks. Experts are always the best in forex and cryptos 👍
I'm interested in investing, but I'm not sure where to start. Do you have any advice or contacts who can help me out?
Investing can be complex, so it's smart to get professional guidance when building your financial portfolio.
It's a great idea to have a conversation with financial advisors like Naomi Dean to reshape your portfolio.
I spread out my $25k portfolio across various markets to diversify my investments.
That's awesome! I ended up making a net profit of about $115k by investing in high dividend yield stocks, ETFs, and equity.
The futility of the "investments" of Saudi Arabia is best illustrated by the youtuber Adam Something who debunks many of those projects in a fun way.
Now, I Just realized that the secret to making a million is saving for better trades. I always tell myself you don't need that new Maserati or that vacation just yet. That mindset helped me make more money trading. For example last year I Traded with 10k in Crypto and made about $146k,but guess what? I put it all back and traded again and now I am rounding up close to a million
Thank you Lubna Olayan
Someone mentioned that trading cryptocurrencies is much more beneficial than holding them long-term, but I don't know who to seek advice from or who could trade for me
how do y'all even make so much from crypto trading?
Market behavior can be complex and unpredictable. Mind if I ask you to recommend this particular advisor to whom you have used their services?
I'm thrilled at the prospect of learning from a coach like Lubna
i think the more safer approach would be to decrease the kingdom's expenditures from extravagant projects and the sustaining the royal family's lavish lifestyle
then focuse on buyinh government bonds and stocks of big companies that pays dividend
with hundreds of billions in profit if saudi arabia invested their money they'll eventually make more money on their investments than what they currently making with their oil exports
My friend, I appreciate the time you spend on keeping us informed about the economy. As of April 14th 2024. I count on $1,500 what do you suggest me to invest in?
I think Ms Anna strategy is the best at the moment, I recommend it for beginners because it is perfect for now and it is known so you don't lose your money. Okay 👍
No doubt! The very first time we tried, we invested $2000 and after a week, we received $8,500, that really helped us a lot to payoff our bills.
I'm interested
Who's this professional everyone is talking about I always see her post on top comment on every UA-cam video I watched.
"She's mostly on the telegams with her ID Below"
Everyone told them that this would not be financially viable. That The Line is impossible and it is a HUGE WASTE OF MONEY. This is the reason why Democracy will ALWAYS BE SUPERIOR because the people can at least demand to stop these vanity projects!
When you put the fate of a country and a people in the hands of spoiled children
It's crazy that they could have just built super nice efficient cities with good trains and trams, cycle lanes. Perfect dense urban planning to create some real wealth by promoting investment in some solid industries like finance or law etc. but instead they have blown so much money on bs mega projects.
pov, u thought service based economies with managment of McKinsey/BCG and others can work.
4RA ka ambassador itna bada sports star hai, ab toh aur bhi badiya experience milega games ka
Everyone is roasting the Saudis in the comments and I totally get it. But……if this guy were to lose power it would be a tragedy. He seems to be doing more to bring his country, and the Middle East in general, into the future, at least in terms of human rights.
I agree, MBS basically stripped power away from the clerics (who hold a a lot of sway). MBS might have some really bad ideas but these clerics offer the average Saudi citizen nothing more than prayers and suicide belts.
They could try to focus on a skill/production based economy. But that would affect them on a societal level - a population that is more productive demands a better quality of life and is generally better able to create trouble for a dictator in power. Thus, the the Saudi government not only has to navigate an economic overhaul, but a political one as well.
It's not great to have an economy based on just resources. It never goes well in the long run.
Case(s) in point: Nauru, USSR, Venezuela, the Spanish Empire, etc.
I mean, is it impossible to get a group of Saudis who are competent on the issue instead of hosting every single thing ever?