David Bell
๐ค SpeakerAppearances Over Time
Podcast Appearances
A lot of people do this, but not in a fun way.
Not in a fun way.
Not like in a food fight way.
Yes, Dave.
Yeah.
Oil revenue accounted for 80% of the federal budget, but global oil prices had collapsed leading to a 50% decline in revenue.
One of King Salman's first moves was to bring in the kingdom's foreign currency reserves.
With a $100 billion budget deficit and the war in Yemen alone costing half a billion dollars a month, the World Bank estimated Saudi Arabia could only afford to go on for four years before running out of money.
There was no way to begin tackling the problem without cutting benefits to Saudi citizens, much of this in the form of benefits to government employees.
These cuts slashed the average Saudi man's income by around 50 percent.
That's how to the bone.
Because these people, all their jobs are fake and all their jobs are like, oh, you know, to use a typewriter, there's an extra 20 percent to your salary.
Right.
That's the stuff he's getting.
We talked about that.
Where it's like, sorry, guys, nothing you do matters.
So you're kind of, you know.
And the country's falling apart now because of the war the prince launched.
Yeah, we want to do this war.
So we're going to pay you less to do nothing.