Saudi Arabia

Previously we documented that as a result of the still low oil prices, largely a result of Saudi Arabian strategy to put high cost producers out of business and to remove excess supply, none other than Saudi Arabia has been substantially impacted, with the result being dramatic state budget, a sharp economic slowdown and  mass worker layoffs.

Just three weeks ago we reported that the biggest construction conglomerate in the middle east, the Saudi Binladin Group had announced it would layoff 50,000 workers ot a quarter of its workforce, slammed by the weak economy.

After a month-long scare campaign waged by Saudi Arabia, and in no small part the Obama administration, which went so far as to threaten it would dump its US Treasurys (which the NYT previously had quantified as $750 billion however which the Treasury just yesterday disclosed for the first time in 41 years as only $117 billion suggesting the Saudis would likely also have to sell US stocks and any other US-denominated assets), if the US were to pass a bill that would hold it legally liable for the Sept 11 attacks, it will be up to Obama to veto the bill because moments ago the Senate unanimo

Submitted by Carey Wedler via TheAntiMedia.org,

The classified 28-pages of the 9/11 report have made global headlines lately as a handful of lawmakers battle to release them to the public. Those pages are believed by activists and members of Congress — who have seen them — to expose the role of Saudi Arabia, including government officials, in the terrorist attacks.

In the aftermath of Saudi Arabia's explicit threat to sell off US Treasurys (of which according to the NYT it had some $750 billion) should the US pursue legislation that could hold it liable for the September 11 bombings, Wall Street's analysts quickly tried to calculate whether Saudi Arabia had anywhere remotely close to that amount of US paper available for liquidation.

By Chris at www.CapitalistExploits.at

A few years ago, when living in Phuket, Thailand, a group of Saudis stayed for a week's holiday in a neighboring villa.

Outside of the religious and social confines of the land of black gold and endless sand, this group made a bunch of spoiled 5-year olds left to run amok in a candy shop without adult supervision look positively angelic.