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*[[Larry C Johnson]]: [https://larrycjohnson.substack.com/p/the-promise-of-false-security The Promise of False Security]. ''Karl Miller’s new report says the Gulf paid for protection it never got, and that it is time to walk away.''
*[[Larry C Johnson]]: [https://larrycjohnson.substack.com/p/the-promise-of-false-security The Promise of False Security]. ''Karl Miller’s new report says the Gulf paid for protection it never got, and that it is time to walk away.''
{{quotebox-float|For years the Gulf monarchies have been told that the path to [[security]] runs through [[Washington]] and [[Tel Aviv]]. Sign the [[Abraham Accords]], buy [[Israel]]i defense and [[surveillance]] [[technology]], [[invest]] in the right [[American]] funds, and you will be protected. Then came this [[war]]. Refineries in [[Saudi Arabia]], [[LNG]] trains in [[Qatar]] and [[energy]] facilities across the region were hit, and none of those partnerships kept the [[missile]]s and [[drone]]s away....}}
{{quotebox-float|For years the Gulf monarchies have been told that the path to [[security]] runs through [[Washington]] and [[Tel Aviv]]. Sign the [[Abraham Accords]], buy [[Israel]]i defense and [[surveillance]] [[technology]], [[invest]] in the right [[American]] funds, and you will be protected. Then came this [[war]]. Refineries in [[Saudi Arabia]], [[LNG]] trains in [[Qatar]] and [[energy]] facilities across the region were hit, and none of those partnerships kept the [[missile]]s and [[drone]]s away....}}
*[[IMF]]'s October 2026 outlook: [[Kuwait]]'s [[economy]] is forecast to shrink 16.7 percent in 2026. [[Qatar]]'s will shrink 15.6 percent, and [[Bahrain]]'s 11.3 percent. The [[UAE]], long sold as the region’s safe haven, is now expected to contract 3.9 percent, a seven-point swing from the IMF's April 2026 forecast. [[Saudi Arabia]] is forecast to shrink 3.3 percent. The only [[Persian Gulf]] economy still growing is [[Oman]], and that is because its ports sit outside the [[Strait of Hormuz]].
:Comment: This isn't good for [[interest rate]]s. Gulf economies used to buy [[US Treasury]] [[debt]] with oil profits. Now that they are not producing, they won't be financing the US [[budget deficit]] any more. In fact, should [[peace]] ever arrive, they will need to sell [[US treasury]] [[debt]] to finance reconstruction. In the meantime, they will be selling US Treasury debt just to survive. [[User:RobSmith|Foghorn Leghorn]]<sup>[[User talk:RobSmith|Do normal heterosexuals spend 20 yrs obsessing over gay bars, bathhouses and drag queens?]]</sup> 02:28, October 20, 2026 (EDT)
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