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Joined 2 years ago
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Cake day: June 22nd, 2023

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  • In addition to a comically large bill to pay, Saudi Arabia has a pretty significant issue with attracting outside investors / tourism. I’m guessing most people visiting this thread can’t name the capital of SA (hint, it’s not Dubai… That’s not even in the right country)

    No one wants to visit because they’re actively hostile towards even the slightest imposition on their beliefs. It’s hard to justify going somewhere where you could get locked up for what would elsewhere be considered a minor faux pas.

    Good luck justifying a $9T vanity project that will only be visited / populated by citizen oil workers, assuming they will even still have jobs in a few decades.

    SA needs to undergo some pretty significant cultural shifts before even considering dropping a few trilly on some new digs.




  • I think one big issue is much of the cheap debt is loans people have defaulted on. So you have to stop paying the debt, hope for minimal ramifications before it hits the open market, then buy it back up at a discount, assuming you have the funds laying around to afford the discounted rate.

    Loans backed by property (e.g., home, car) which can be repossessed tend to not be as heavily discounted. So its really just if you have massive credit card, student loan, or medical debt, and are willing to put up with harassment from debt collectors on the hope that it’ll be bundled into something worth less than your individual debt