In this edition: why Gen Z may be winning the retirement math, what my home country of Oman is betting its future on, and what Alan Greenspan's death at 100 tells us about the cost of being wrong at the right moment.
I find the omani story interesting. They are developing better than other near east conter parts. I feel like the Saudi approach was throw atuff at wall for the longest time.
Fidelity's dataset uses "averages" rather than "median"...
Covid stimulus checks - most of my co-workers put that money into investment vehicles for their kids, it was free money for them. Some older Gen Z did the same on their own.
The market is ugly with overvalued stocks giving wealth effect, we see a crash, some of those amounts are going to take a hit.
My MIL is not a rich person and during her "shed some assets to avoid taxes" phase (encouraged by me), that money was put in grandkids savings. The deal was the money wasn't to be spent but invested for the future. $500 seed money has done alright... but absolutely is reflected in the overall rate/amounts.
*We also see some of that influencer money being set aside since plenty of them have no real marketable skill to sustain them in the future. 19 yr olds on OF making $200K a month for feet pics comes to mind! (We have strange priorities for what represents "work" and its payoff?)
Oman's development plans (and one might add that these are actually being carried out) read like a Development Economist's dream for a moderate income resource-dependent economy. This is the benefit of having some free money from resource extraction, but not so much that you forget that money should be spent to boost productivity (from Gemini):
Oman is executing a comprehensive economic transformation anchored in Oman Vision 2040, shifting from hydrocarbon dependence toward a competitive, diversified economy. Key drivers include massive investments in human capital and infrastructure.
Education and Healthcare
The government heavily prioritizes social infrastructure to support a skilled, healthy, and productive workforce.
Education: The sector is projected to see GDP contributions grow significantly. Initiatives are focusing on digital learning, vocational training, and aligning curricula with emerging, technology-driven industries.
Healthcare: Upgraded healthcare capacity is a core pillar. Major capital is directed toward modernizing regional facilities and expanding public-private partnerships to improve service delivery and reduce reliance on out-of-country treatments.
Industrial Diversification
To shield against oil price volatility, Oman is rapidly scaling up non-hydrocarbon sectors.
Target Sectors: Primary drivers for non-oil growth include manufacturing, logistics, tourism, and renewable energy.
Key Projects: Initiatives feature significant investments in projects located in regional hubs like Sohar (including a major polysilicon plant) and Khazaen.
Job Creation: State development programs prioritize promising sectors to generate high-quality employment opportunities. Over 300,000 new positions are targeted for public and private sectors in the coming years.
I find the omani story interesting. They are developing better than other near east conter parts. I feel like the Saudi approach was throw atuff at wall for the longest time.
Fidelity's dataset uses "averages" rather than "median"...
Covid stimulus checks - most of my co-workers put that money into investment vehicles for their kids, it was free money for them. Some older Gen Z did the same on their own.
The market is ugly with overvalued stocks giving wealth effect, we see a crash, some of those amounts are going to take a hit.
My MIL is not a rich person and during her "shed some assets to avoid taxes" phase (encouraged by me), that money was put in grandkids savings. The deal was the money wasn't to be spent but invested for the future. $500 seed money has done alright... but absolutely is reflected in the overall rate/amounts.
*We also see some of that influencer money being set aside since plenty of them have no real marketable skill to sustain them in the future. 19 yr olds on OF making $200K a month for feet pics comes to mind! (We have strange priorities for what represents "work" and its payoff?)
The ode to Alan Greenspan comes at a time when we can learn so much from his tenure as the Fed Chair.
If we don't want to repeat the mistakes of our predecessors, it's crucial we continue to study and understand economic history.
Thanks for posting about our lovely country Oman. It made me proud.
Then make sure to checkout the podcast this week. Drops tomorrow.
Oman's development plans (and one might add that these are actually being carried out) read like a Development Economist's dream for a moderate income resource-dependent economy. This is the benefit of having some free money from resource extraction, but not so much that you forget that money should be spent to boost productivity (from Gemini):
Oman is executing a comprehensive economic transformation anchored in Oman Vision 2040, shifting from hydrocarbon dependence toward a competitive, diversified economy. Key drivers include massive investments in human capital and infrastructure.
Education and Healthcare
The government heavily prioritizes social infrastructure to support a skilled, healthy, and productive workforce.
Education: The sector is projected to see GDP contributions grow significantly. Initiatives are focusing on digital learning, vocational training, and aligning curricula with emerging, technology-driven industries.
Healthcare: Upgraded healthcare capacity is a core pillar. Major capital is directed toward modernizing regional facilities and expanding public-private partnerships to improve service delivery and reduce reliance on out-of-country treatments.
Industrial Diversification
To shield against oil price volatility, Oman is rapidly scaling up non-hydrocarbon sectors.
Target Sectors: Primary drivers for non-oil growth include manufacturing, logistics, tourism, and renewable energy.
Key Projects: Initiatives feature significant investments in projects located in regional hubs like Sohar (including a major polysilicon plant) and Khazaen.
Job Creation: State development programs prioritize promising sectors to generate high-quality employment opportunities. Over 300,000 new positions are targeted for public and private sectors in the coming years.