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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (8809)	7/7/2004 11:06:24 AM
From: Knighty Tin	Read Replies (2) \| Respond to of 116555

T, Most of the wealth of the Saudis has been deposited in Swiss Bank Accounts. After the revolution, a flight to Zurich, then a quick turnaround to Monte Carlo. <G>

To: Tommaso who wrote (8809)	7/7/2004 1:57:40 PM
From: microhoogle!	Read Replies (2) \| Respond to of 116555

Closer to a million workers from India alone work in Saudi (or is it UAE, Saudi, others in region combined). Jobs can be menial or high tech or running a business. It gives an impression that Saudi populace was also lazy due to the fact that they were induced into lethargy by their own regimes by giving out payments (derived due from oil revenue) to families and/or not taxing any income by such families. Meanwhile the immigrants from India, Pakistan, Bangladesh, Sri Lanka, Phillipines and other countries work hard to build up enough wealth to either send it home to families or come back and set up a small business themselves. Saudi's themselves are thereby not gaining any intellectual wealth (even in mundane industrial tasks) that they can bank on down the road. Above are just my opinion based on certain perceptions and could be proved wrong.