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Facing Dire Financial Straits, Saudi Arabia Delays Contractor Payments To Preserve Cash
One narrative we’ve recounted time and again over the past six or so months revolves around the extent to which Saudi Arabia has put itself in dire financial straits by stubbornly keeping crude prices artificially suppressed in an effort to i) bankrupt the US shale space, and ii) pressure the Russians.
In some respects, pushing prices lower was probably a good gamble as far as the odds are concerned. That is, if one were placing bets last November on whether uneconomic US producers would be able to hold out for a year with sub-$50 crude and on whether Moscow would eventually agree to be a bit more friendly geopolitically speaking once the combination of low oil prices and crippling Western economic sanctions had time to sink in, one would have been inclined to think that Riyadh would have gotten its way by now.
But that’s not what happened.
The cost of capital is still basically zero which has served to keep US oil production online (even as it has fallen from April highs) and as for Russia, well, betting that Putin would give up Assad turned out to be a very, very bad gamble.
And so, the Saudis have found themselves in an awkward position. Competition in the US still isn’t bankrupt (although it’s by no means clear how much longer insolvent American producers can hold out) and the prospects for some kind of Saudi-Qatari-Turkish energy cooperation in partnership with a friendly Damascus are getting more remote by the day.
Meanwhile, the budget deficit has ballooned to some 20% of GDP while the current account is now in the red as well. Fighting a proxy war in Yemen hasn’t helped, and neither has the cost associated with maintaining the lifestyle of the everyday Saudi and preserving the riyal peg.
Riyadh is burning through its SAMA reserves and tapping the debt markets to offset the drawdown but at the end of the day, with crude prices this low the future doesn’t look particularly bright.
In fact, things have gotten so desperate that the Saudis are now trying to muscle in on Russia's Eastern European markets as Chinese demand decelerates along with the economy.
It’s with all of that in mind that we bring you the following from Bloomberg who reports that the kingdom is now delaying contractor payments by as much as six months in the face of the acute cash crunch. Here’s more:
Saudi Arabia is delaying payments to government contractors as the slump in oil prices pushes the country into a deficit for the first time since 2009, according to three people with knowledge of the matter.
Companies working on infrastructure projects have been waiting six months or more for payments as the government seeks to preserve cash, the people said, asking not to be identified as the information is private. Delays have increased this year and the government has also been seeking to cut prices on contracts, the people said.
Saudi Arabia is tackling the slump in crude, which accounts for about 80 percent of revenue, by tapping foreign reserves, cutting spending and selling bonds. Net foreign assets fell by about $82 billion at the end of August after reaching an all-time high last year. The country has raised 55 billion riyals ($15 billion) from debt issuance this year.
The government is also seeking to cut capital spending and delay projects.
“It’s hard to hold back from boosting spending when oil is on the rise, but very hard to cut when oil prices fall,” Simon Williams, chief economist for central and eastern Europe, the Middle East and North Africa at HSBC Holdings Plc, said in e-mailed comments. “Cuts are coming -- the budget deficit is too large to ignore and pretend it’s business as usual.”
Payment delays could slow the completion of projects under construction, including the $22 billion Riyadh metro, and curb the expansion needed to create jobs for a rising population. In the past, government spending has been a catalyst for growth. For example, when authorities announced $130 billion in social spending in 2011, the economy expanded 10 percent. This year, growth will probably be about 3 percent, according to data compiled by Bloomberg.
The bigger picture here revolves around the extent to which the House of Saud may be in terminal decline.
We've long said that if it should ever get to the point where Riyadh's self-inflicted wounds from manipulating crude lower end up triggering belt tightening that affects everyday citizens, the Saudis could end up experiencing an Arab Spring-type episode. Throw in the fact that Tehran looks hell bent on using the war in Syria as a kind of springboard for a regional power grab and you have the recipe for a major shift in Mid-East dynamics.
Then again, all of the above is probably completely misguided because the "very serious" people apparently think Riyadh has everyone right where it wants them. Via Morgan Stanley:
Saudi Arabia are unlikely to support an OPEC cut in production, as the oil strategy appears to be working.
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Are they still paying Obama?
http://citizenwells.com/2012/09/24/vernon-jarrett-will-arabs-back-ties-to-blacks-with-cash-november-6-1979-article-st-petersburg-evening-independent-dr-khalid-al-mansour-percy-sutton-corroboration/
Sure....there's more.
http://www.redflagnews.com/headlines/obama-vetting-1979
keep up the production of oil and your attacks on Yamen
The petrodollar is dead
Saudi Arabia is delaying payments to government contractors as the slump in oil prices pushes the country into a deficit for the first time since 2009, according to three people with knowledge of the matter.
Companies working on infrastructure projects have been waiting six months or more for payments as the government seeks to preserve cash, the people said, asking not to be identified as the information is private. Delays have increased this year and the government has also been seeking to cut prices on contracts, the people said."
Sounds like the Saudi's are already bankrupt. Perhaps the USSA has already seized most of the Saudi overseas deposits and/or gold to fund her own deficit. Who knows?
As the Russians say, the only thing worse than having Amerika as your enemy, is to have her as your friend.
Imgine the degree of graft, cheating by the jew banksters who funded and then stole from the crypto-jew house of saud that in 60 years of a near monopoly on crude (largely speaking) and a money spigot that just kept on giving, the Saudis are out of money.
Probably trillions earned, hundreds upon hundreds of billions stolen, all kinds of MIC toys, protection payments to the USSA/British (Banksters basically), gold in overseas storage accounts vapourized, forced purchase of soon to be worthless USSA debt....black ops funding (obviously on Alphabet agency say so)...on and on and on...
All the while keeping the dumb, sick, inbred royalty in obscene wealth...
What a shit show the zionists and their nasty usurious, human hating ilk have cooked up in the ME.
This is really worth a listen:
https://www.youtube.com/watch?v=Ty6whuQ1R8o
I sense some negativity in your comments.
Saudi not paying contractors = End of Terrorism.
YAY!
Maybe that one Prince is going to have to call up Daryl Hall and set up a reunion tour?
pods
End of Terrorism? Dont get your hopes up. The CIA will destroy the House of Saud if they did something foolish like that.
Sell one of them golden toilets if you have to.. that should keep terrorism alive in Pakistan and India for another ten years.
The Arabs use toilets... You learn something new on ZH everyday!
I peel bananas witf my feats.
They did by far better than the Indian excrement that's upper caste in India. There has never seem a nation in the human history that has exploited its own the way Hindus do and did.
Abel Danger...good source. ;)
Some bad juju blood between him & his sister.
ground zero for radical mohammadeans = "crypto-jew"?
fixated much?
Yet the article is about "whether Moscow would eventually agree to be a bit more friendly geopolitically speaking". What the fuck? OK, I guess it's useful to know how the great unwashed see events on the world stage, but I expect a bit more from posters on the Hedge.
"Friendly" = bend over and take it like a man. Or a slave.
It's surprising how low the Saudi standard of living is when you leave the glitzy parts of the major cities.
You never know how much money you really have in reserves until you try to spend it.
Even a vast fortune can vanish in an instant.
"Cuts are coming -- the budget deficit is too large to ignore and pretend it’s business as usual"
Budget cuts are coming? I'll see that when I believe it. Is this going to be a US-style budget cut where they simply reduce the rate of budget growth by a few percent and call it a "cut"?
More often it's a reduction in the second derivative- the rate of growth of the rate of growth is cut by a token amount.
Think of the savings.
But but but but but.... PEAK OIL :p
You're living it.
It's part of the human right not to pay back. You are lucky if they don't behead you.
same story everywhere...in the end the saudi's will take their money and run while leaving the sheeple to fight for the scraps
As each player in this game finds that previous calculations have been erroneous, they up the stakes. The direction is always to wider and fiercer war. Winter is coming.
I guess the price of oil will have to go up. I'm thinking the first week of January the rise will start.
Sounds like China is taking non-payment ideas from Illinois.
"keeping crude prices artificially suppressed"
Suppress them on down to $20.00 and lets see what happens!
Less petro dollar recycling into T-Bills
I would love nothing more than to see the Arabs reduced to herding goats for a living again.
To that the poor blighted, innocent millions there will say that they would like to see the USA BURN in hell....
I'd like to see both!
You are already in hell. Now bend over and take it like a Hindu.
Did you mean humping instead of herding?
We could also just take it. People of America don't care where it comes from as long as we get it.
strange, arent they funding ISIS and carrying out a war with yemen. guess there's room in the budget for that.
There's a never a shortage of money for WAR! Take the U.K. for example, cuts here, cuts there, belt tightening, layoffs, bankruptcys, austerity, austerity, austerity...but they can soon find the money to upgrade Trident (100 Billion) and they can soon find the money to start airstrikes in Syria, and they can soon find the money to fund the Nazi-regime in Kiev...
Try telling this to an average Brit, they look at you like you have two heads then ask; "Have you been watching Big Brother, X Factor, Coronation Street?"
Absolute fucking braindead muppets, just like 99% of Americans, French, Italians, Canadians, Australians, Irish...
Glad I don't live in any of said countries, and NEVER have to visit them.
My only hope is that 'the revolutions will be televised.'
Your err sir. The muppets in the USA are far more ignorant than the Europeans. The Europeans are far more inclined to take to the streets than the pacified Americans because their minds are not as well controlled.
I feel your suffering but I'm seeing a radical shift occuring, for instance, a woman in my local town who used sell me cakes from her shop after school 30 years ago really impressed me with her knowledge of the Trans-Pacific-Partnership as well as local/european and geopolitical affairs, then she turned her attention to the pharmaceutical/medical scam being perpetrated against us, I had to just listen and smile - it warmed my heart, so it did, here in Ireland. Can you not see the consciousness shift that is occuring in your part of the world?
That's nice to hear AGAU, and I could only hope that many people are waking up to these things, but unfortunately I don't think they are, my mates Mother (Engish) is all for Cameron, she's middle-class retired on some serious pharmos for her pain from a leg injury. If Cameron came round her house and shat on her coffee table, then told her it was neccessary for national security reasons she'd believe him. And this is an educated open minded woman, most of the sheep are neither educated nor open minded, what chance in hell have they got?
I take umbridge at your dichotomy of the English as bieng absolute fucking brain dead muppets, that is a total mischaracterization of them. They are far worse than that, the large majority of Brits have the working intelligence of a gum ball, that I might add includes the government and everone in it. I am sorry to say I am an Englishman in dispair, I cannot for the life of me understand the mentallity of the brain dead population of this country, there appears to be absolutly no disparate worlds of thought just a total lemming mentality . Mind you being an Anglo American myself it is hard to choose between who the biggest absolute fucking brain dead muppets are the English or the Americans!.
Yes, yes, who are the biggest fucking, braindead idiots...the Yanks or the Limeys, that is a difficult question, but I'm gonna have to opt for the Brits, after all they take their orders from the Americans, who in turn take their orders from the Israelis, who in turn take their orders from Satan...and I believe Satan only answers to one man.....
Answers on a postcards folks...??
Pliskin,
There are dumbfucks everywhere....its global culture at this point.
Dick measuring for statist supremacy wont help one bit.
RIPS
Oh and another thing, referring to them as braindead muppets does not help the situation, afterall, you were probably in the same situation, it's like you escaped a burning building and then shouted back to the ones still inside calling them muppets!
It sounds like one day someone called you a tin-foil hat wearer and you got offended... try to refine your technique of reaching them but don't just step back and become an observer, you have a responsibility. By knowing and doing nothing to help you are worse than the ignorant.
Good Luck!
I still get called a tin-foil hat wearer now for pointing out such things. I have zero responsibility towards the 'Sheeple' I've taken care of my family, myself, I've been stacking and have my own little prepper's cupboard (much to the chagrin of my wife)
...and I'm way past the point of refining my technique.
I get where you're coming from but hey, you know the saying...
"If at first you don't succeed....quit."
All true but Americans are no different. The Bread And Circuses ploy has been carefully planned and rolled out over the last half century. There won't be a rebellion until the cable goes.
And for building the mosks in Europe for the "refugees."
...the extent to which the House of Saud may be in terminal decline.
again, boo frickedy hoo [/dr. evil]
The Saudi's took a gamble by banking on getting part of Syria !! LMFAO !
I don't understand. Why doesn't the government create the required amount of currency digitally in a computer and transfer it to the suppliers' bank accounts?
I too am flummoxed.
They do now in America. Its called FTD. No, its not about flowers.
Fuck The Dip ?
For smaller economies that do not have global reserve currencies, the negative effects of printing money become obvious quite soon. Ask Zimbabwe.
That consideration never stopped Zimbabwe from printing.
The Saudis still have a viable economy. Its too early to go Full Retard.
Let them eat cake.
Maybe, the Fed print a few hundred billion for our dear friends the Saudis. After all, it was Kerry who got them to lower oil prices to attack Russia.
Being America's bitch is expensive. And attacking Yemen is expensive. As is funding terrorists all over this world.
John Kerry, the US secretary of state, allegedly struck a deal with King Abdullah in September under which the Saudis would sell crude at below the prevailing market price. That would help explain why the price has been falling at a time when, given the turmoil in Iraq and Syria caused by Islamic State, it would normally have been rising.
http://www.theguardian.com/business/economics-blog/2014/nov/09/us-iran-r...
Some of those Instragram blonde hookers, sorry I mean 'models', better start looking for a new job.
Yes, a blow job.
I can't decide what to cry over, vanishing banker bonuses or bankrupt camel jockeys?
A dilemma to be sure William.
Surely you can muster up enough tears for both. Just a drop will do.
Intresting story. Somewhat OT.
I have a good buddy, friend for 25+ years. In the 80's ( I believe) he formed an export operation partnership.
The Saudis where constructing an airport/military airbase. They where in a pinch, and needed special valves and fittings for infrastructure. My buddy sourced it, and chartered a 747 to hotshot it to SA. He said it was the single best deal of his life.
Later, if intested, I can tell the story of the car salesman I know, who sourced rides in the USA for the Royals. He has a loose leaf binder full of the trick rides he sold. Hell, I might as well keep going.
At a dealership, salemen take turns. The next customer pulled up at the Caddy store, and the salesman who was next looked at him and said , " a Raghead, somebody else take it" . And that started a 10 year, multi $ million dollar run!
Poor Saudis. Sound like they are running low. Yeah, right.
So where are the trillions in oil revenue Saudis made over the years?
Pretty large extended family, accustomed to living large. It takes a lot of cash to keep the natives happy, and the barbarians outside the gates.
Plus, they are some hypocritical mother fuckers. Run the Homeland like it's from the six century, but live it up when they go out of town. I'm not surprised, just sayin'.
...but that's enough about the 'Bush' family, let's get back to talking about the Sauds.
In expensive projects and in Western bank accounts. Win win for the West. The 'oil crisis' of the seventies was actually good for Western businesses and banks. While automobilists the world over suffered (but they still needed to drive so they had to use gasolin) the coffers of oil producing countries filled up and spilled over. Part of that money they spent on expensive projects and gadgets (that only Western companies could provide). They had a problem though, the only safe place to keep all that money was in Western bank accounts and in Western stocks and bonds. So while the Western consumer felt it in their pockets, businesses, banks and financial insitutions made big.
All the male citizens get free cars and cheap gas to cart their old ladys around in, should that stop you might have a war on your hands.
My first thought. Aren't they stinking rich?
Half went to Rothschild, the other half to the Clinton foundation.
Guess this means that with the "royal budget cuts" the Four Seasons will be replaced in the future with reservations at Motel 6 and the sneakered ones in the middle of Aleppo will have to file for unemployment benefits?!!!
It's what I've said many times before here. When you secure your interests by destroying the very finite resource that got you exceeddingly wealthy to begin with you know your not very right in the head...
But something tells me the Saudi Royals didn't have much of a say in the matter!
I have no doubt the Royals will never run short of cash for themselves and no doubt personnaly syphoned off 00's billions to their own accounts over the years.
Too much money to escape the assassins
Taken out of context, this sounds like you could be talking about the American League pennant race. /s
Carlyle Group
http://m.youtube.com/watch?v=-RZ4C6-HRDk
I am sure Saudi Arabia is involved, but the fact that the clip totally leaves out Israel and American Zionists, means its not a credable source. At the root of all actions of the CIA/Massad are the Zionists...Certainly 9/11 falls under that label.
https://www.youtube.com/watch?v=j0nxnaG2JtE
The Zionists own the US media, the fact that they promote a certain Muslim angle ONLY on the 9/11 story exposes...9/11 certainly could have been assisted by American insiders, and we all know who runs America, zionists.
http://www.zerohedge.com/comment/reply/515119/6684500
Surely the real question is how long Saudi can survive knowing that Iranian and Iraqi oil could come onto the market once ISIS is destroyed ? It is clear that the House of Saud is finished - it has too many enemies - Iran, Russia, Germany, China - and too few friends who are essentially bought lackeys in Western capitals like Cameron, Obama, Hollande.
'who are essentially bought lackeys in Western capitals like Cameron, Obama, Hollande.'
That's an insult to 'Lackeys' everywhere.
It couldn't be happening to a better bunch of Terrorist.
knowing that Iranian and Iraqi oil could come onto the market once ISIS is destroyed
Yeah....an inconvenient....inconvenience.
Ever larger can-kicking has it's consequences.
Iranian oil now can undercut Saudi oil and make the Saudi eat crap.
Play the Saudi game of elimination US shale oil now that demand has dropped.
Facing Dire Financial Straits, Canada elects Bozo...
Zion won't be happy when their man gets thrown out.
No kidding. I wonder if Obama called Harper before he suspended the Syrian operation? Exposed Harper as the Zio-Tool that he is. Although apparently Trudeau wants to tell Putin that he's dangerous "to his face". I would pay money to see that and to watch and listen to Vlad's lecture back to him.
Better again Vlad fells him with a karate chop.
I remember the 70's when they bent us over and laughed. Looks like the camels are coming home to roost.
if I was a contractor I would leave and then sue... they are breaking the contract...
FU Saudi shit heads. lazy muthafukin ass wipes... Hope some one comes and steals your oil and puts you in tents living in the desert ... you are ALMOST as BAD as the USA and Israel...
'lazy muthafukin ass wipes.' The Saudis wipe their asses, AGAIN, you learn something new on ZH everyday!
Sue the Saudis??? LoL. Don't waste your time and money.
“My grandfather rode a camel, my father rode a camel, I drive a Mercedes, my son drives a Land Rover, his son will drive a Land Rover, but his son will ride a camel.”
A classic quote from a Sheikh
I love a happy ending.
i's throw some sanctions on the terrorist state saudi arabia
Welcome to Saudi Arabia: The Illinois of the Middle East!
For anyone who has worked in Saudi, you know that the Saudi Government are bad payers - oil crisis or no oil crisis - gettiing paid by the Saudi Government is always a tough issue...except for Foreign MilitarySales (FMS). For guns and ammo they always are fast payers!!!!!
I downvoted you because of your word play on your username from Colonel Scott's classic!
"Cuts are coming -- the budget deficit is too large to ignore and pretend it’s business as usual"
<"...Budget cuts are coming? I'll see that when I believe it. Is this going to be a US-style budget cut where they simply reduce the rate of budget growth by a few percent and call it a "cut"?...">
Every few months, same shit...kick the can. The oligarchs will direct congress to do the things that keep the peace. They want their wealth to grow, but not have to deal with the cities burning. Congress will not cut ANY program that angers constituants...which means no cuts at all. With 1/2 the country living on some form of government subsidy or paycheck, cuts would cause big problems. No cuts ensures financial collapse, but delays it again and again.
The Fed has done all it can to re-inflate the bubbles. When they pop this time, its game over. People are greedy and are too stupid to learn from the last Fed-induced bubble(s). Houses are being bid up and stocks are way overvalued again. The Silicon Valley property mega-bubble has to pop and will take the whole country with it. More stimulus, more QE and more banker bailouts are coming.
Beats me how it hasn't come crashing down already.
F.U. S.A.
But do the Saudis have enough money to keep donating to the Clinton Foundation?
Always.
Here's your chance to pick up some gold plated lambos for cheep.
If you can stand the camel-jockey stink in the interior.
And then there's the shame.
Iran can flood the market with cheaper oil and crush the Saudis. Especially when demand from China is slumping.
What goes around, comes around. Saudis attack American shale oil, Saudis get attacked with cheaper Irainian oil.
Sounds good.
_
AND it's back to camels, goats and plenty of sand.....Helluva round-trip, boys.....
Fuck, 2016 is looking to be a fucking ugly year for the oil patch - Iran will be onstream to sell to the market, the Saudis will borrow via bond issues to dump oil in Europe and Asia, US Shale Oil will run out of borrowers to bail them out....
The Refineries are killing it though. That's the place to make money.
Iraq is ramping up also.
The oil majors are working in Basra and the Southern Fields to get production back up to 4MBD.
The Saudis could use some wealth preservation advice from NBA players.
The only options open now to the inhuman barbaric animals who call themselves "Saudi Royals" is to sell off a few of their palaces, sell off a few of their private jumbo jets, sell off some of their gold bathroom fittings, reduce the number of pedophile vacations in Bahrain, stay in 3* hotels, reduce funding of evil terrorism and generally tighten their oversized belts.
Of course they won't do any of this, so financial desperation will increase until they accept defeat and reduce oil production to push the price up.
There are literally tens of thousands of those inhuman barbaric animals who call themselves "Saudi Royals". And the number grows all the time. A more arrogant collection of useless parasites does not exist. I pray for their demise.
I am still not convinced that Sauds opening spigots + debt ridden shale boom + Iran's oil hitting the market = coincidence. It could easily be one operation to take down Russia financially, which appears to be failing miserably. People say.. why would the US sabotage it's own shale boom? Probably for a similar reason that the Sauds are sabotaging their own oil prices, they figure if they can take down Russia it will be worth it in the long term. They can always slap sanctions back on Iran as well.
Like they say in Alaska:
"God, please give us one more big oil strike;
and this time we promise we won't piss it away."
They still have enough for $200 million worth of mosques for Europe's new invading army.
Poor Saudis, they can sell assets in other countries purchased by ripping everyone off over the years.
The Saudis believe in their religious hatred of minority Muslim sects.They pay all their terrorist recruits and right now are fighting two proxy wars.They're just starting to understand how they got stabbed in the back by Obama.Failed American Foreign Policy under the Wolfowitz doctrine administered by NeoCons like John McCain is now a disaster.Saudis were promised by the Bush hand-holding Neo-Cons that the plan would move forward in taking out Iran.China and Russia stood in the way when they saw the US and Saudis were both broke.It's put an end to Obama serving out his term as stooge-puppet for his far right-wing masters.That could provide an opportunity for Biden to move into the Center position and defeat Hillary who is seen as another far right uneducated puppet follower of the NeoCon bosses.
You had me till "far right."
Don't worry. Russia and Iran, WILL drive this oil to <20 $. Just watch, who's panicking like donald duck.
Dude in US/CAN shale oil's workers (direct or indirect)? Pls start to find another jobs. No, seriously. I just feels a little bit pity for you.
Next years? 2016? That's the year the MAX (2 years) oil/gas hedge expires dude.
http://seekingalpha.com/article/3333935-some-shale-producers-are-in-deep...
The bloodbath you saw this year? Would be nothing compares to next years!!
Consider this as a "friendly warns".
- - -
Saudi's discounted oils to Eastern Europes by >1$ BELOW brent benchmarks. This means WAR (in oils price) with Russia. Russia WILL follows this by LOWERING ITS OWN PRICE!!
So, again, i already given you links about how much oil extractions cost for russia. They are at 2.8-4 US$ (remember cost in Russia? Nominates in Rubel. But oils are sold internationally? In US$. With declining FX of Rubel? This oils producers? Are laughing all the way to the banks..)
Now, as for Saudi's Ghawar fields? I noticed somebody knew exactly what they do with ghawar fields oil extractions.
Saudi's (tough not secrets), have been PUMPING SEA WATER IN THE MILLIONS OF GALLONS INTO GHAWAR FIELDS for decades!!
http://www.theoildrum.com/node/9045
Essentially? Turning that giant fields into a de facto shale type of oil fields! And that would certainly increase Saudi's extraction cost! Tough nobody know how high.
So again, Saudi's trying to do a stupid thing, that would bite them in the ass, trying to undermined russia.
I will just take a front seat to watch, who died FIRST!! Saudi's? Or US shale oil/gas..
http://www.zerohedge.com/news/2014-10-10/why-oil-plunging-other-part-sec...
Just wanted to share an interesting article from a year ago, when oil plunging to $92 was seen as catastrophic, and it was believed that this strategy would tank Russia and Iran. Seems it backfired in a big way, huh?
Look at the history: in the 1970's Kissinger goes over there and kisses their asses to price oil in dollars, 15 of 19 Sept. 11 hijackers are Saudi, (including bin Laden), a few years ago these fucking monsters buy $60 billion in F-15's, UH-60 Blackhawks, Apaches, all the while Alaweed owns 6% of Fox; yet each night millions of sheele channel surf between Megyn Kelly and porn; when SHTF they won't know what hit them, but unlike Syrians there will be no place to go (Canada is NOT taking Americans)