Thursday, September 25, 2008

Security guards

Today, in one of the classes we were talking about GCC(Gulf cooperation council) consisting of Saudi Arabia, Bahrain, Qatar, Kuwait, UAE and Oman. The prof describes Kuwait: These guys have a strange problem. They have a lot of money from the oil. But they are weak and have a lot of wealth and are surrounded by thugs. So what do you do if you are Kuwait? First, stash the money outside the country by buying assets abroad. Then to protect the money in the country, hire cheap security guards. So who are these cheap security guards? These are the US guys. They even pay you to protect you. When asked about what they give in return, the Kuwait guys reply "we buy a lot of their US made cars. But then it is dirt cheap and it is for the security guys. These is the least we could do for those security people." I bow to my prof for this wonderful insight.

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