‘The Saudi Handout that Wasn’t’

“Although using oil money to finance consumption is not economically sound and financing the lifestyles of the Al-Sauds is robbery, military expenditures are arguably even more wasteful. Saudi Arabia has been the largest importer of arms in the world. These imports are accompanied by enormous payments to corrupt senior princes. Military hardware requires maintenance expenditures in the future, draining more resources. No one really believes Saudi Arabia could defend itself against Iranian or Iraqi military aggression; if anything military hardware is likely to be used against an internal uprising—right now it rewards the the United States and Great Britain, the Al-Sauds’ foreign backers.”

read more here:

http://nationalinterest.org/commentary/saudi-handout-that-wasnt-4955

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