Saudi Arabia's Financial Crisis

The Saudis are in more financial trouble than you might think, and while this threatens the Kingdom’s grip on power to some extent, it’s a threat the Crown Prince will weather. Still, it is with some unease that the Saudis had to close a $10-billion, one-year loan this week, the funds of which will likely end up backing the 70% stake in SABIC that it forced Aramco to acquire last year.   It is also with some unease that the Kingdom has tripled taxes on basic goods (an increase of 15%) and cut spending by some $26 billion on…