Are The Saudis Going Bankrupt?

K-selection getting going all over:

Saudi Arabia switched from the Islamic lunar Hijri to Gregorian calendar Sunday in a their latest austerity effort to curb spending amid bankruptcy rumors.

Islamic lunar Hijri calendar: Year comprises of 12 months lasting 354 or 355 days, or 11 days shorter than the Gregorian calendar.

Salaries are calculated on annual basis, so a longer year translates into less payment for the employees.

Most of those middle eastern oil countries consist of a small monied elite, which turn out the oil and then buy the pacification of their populations with generous stipends for everyone. So long as the grassroots savages are kept pacified with their stipends, the oil flows freely.

So to summarize, just as the debt bombs hit, the economy collapses, people lose their incomes, retirement funds go bankrupt, what savings people have turn worthless, and governments break down as the savages go apeshit, the middle eastern oil providers may see their nations descend into the anarchy and chaos of civil war, shutting down the supply of middle eastern oil.

Add in a little pandemic, and that’s an Apocalypse.