Do Oil-based economies show more fiscal responsibility?

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Veronica
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Joined: Fri Aug 25, 2023 12:04 pm

Do Oil-based economies show more fiscal responsibility?

Post by Veronica »

https://www.insidermonkey.com/blog/5-co ... 1283903/5/

It's a bit of a clickbait article that you would find anywhere on the internet, but I found it fascinating that these countries with extremely high savings rate mostly all share a common ground of benefiting from their oil reserves as a centerpiece of their economies.

PhoneticNachos
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Location: Jacksonville, FL

Re: Do Oil-based economies show more fiscal responsibility?

Post by PhoneticNachos »

Oil and LNG are going to be huge still for the next 100+ years. Great time to invest in the middle men of the industries.

xmj
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Re: Do Oil-based economies show more fiscal responsibility?

Post by xmj »

Arguably the most irresponsible economy in the world (by deficit spending) is a petrostate

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fiby41
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Re: Do Oil-based economies show more fiscal responsibility?

Post by fiby41 »

Related: Resource curse, which is actually the opposite of this.

PhoneticNachos
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Location: Jacksonville, FL

Re: Do Oil-based economies show more fiscal responsibility?

Post by PhoneticNachos »

Oil isn't going anywhere, the fiscal policy that the US is doing to try to fight/ trade out China is going to backfire since we have been outsourcing manufacturing, and will take 15/20 years to rebuild the labor pool.

I mean the US will always be the best economy, but India and China can be great allies if the government would embrace them instead of trying to compete against them.
Why we need to tax billionaires, and corporations, and tax churches, input standards to control birth rate and IQ requirements for parents, and mandatory schooling and medical bills covered by the government, as well as mandatory service in military or trade schools.

Also need to force people to save at least 15% to retirement accounts, and cap their debt limits, and credit card bills, car amounts. We need to remove Social security, the average person will be a millionaire if they could invest their government withholdings.

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