Padawanbater2
Well-Known Member
http://arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/164828/reftab/36/Default.aspx
Summary: Decision is made to give everyone the equivalent of almost half a basic income for a year (possibly more than half with food included). Concerns are raised about inflation and businesses raising their prices. Complaints are made about giving money to people instead of investing in infrastructure.
http://248am.com/mark/kuwait/what-are-you-doing-with-your-kd1000/
Summary: This comment section could exist at the bottom of any article about basic income. Some people are already planning what to spend it on, which includes stuff from iPads to education. Some fear what others will spend it on, like travel instead of local goods and services. Fears of inflation are expressed, as well as opinions that giving money away instead of investing in infrastructure is stupid. Someone claims the money will amount to effectively zero after banks absorb it. Someone wants to refuse the money because it's wrong.
http://www.oxfordbusinessgroup.com/economic_updates/kuwait-keeping
Summary: Instead of rising, inflation dropped. Food prices were worrisome (although greatly affected at this time by global factors http://www.worldbank.org/foodcrisis/foodpricewatch/april_2011.html). Housing cost rises did not accelerate and instead slowed down. GDP growth estimates looked good but not great. Overall, things looked good.
http://www.kuwait.nbk.com/InvestmentAndBrokerage/ResearchandReports/$Document/GCCBriefs/en-gb/MainCopy/$UserFiles/NBKGCCBriefKuwaitmacro201203E.pdf
Summary: GDP was better than expected. Inflation slowed. Consumer spending was strong. With an estimate of 1.7 billion in contribution to GDP, this is 0.6 billion more than the grant cost, reflecting a possible multiplier effect.
http://www.marcopolis.net/economy-of-kuwait-in-2012-growth-diversification-inflation-2806.htm
Summary: Economy still looks good. Inflation not an issue.
TL;DR - Overall Conclusions:
-Kuwait announces plan to give every citizen about $4,000 USD.
-People scream the sky will fall in the form of massive inflation.
-Money and food is distributed.
-Sky actually clears up as inflation goes down.
-Strong consumer spending leads to increased GDP growth.
Summary: Decision is made to give everyone the equivalent of almost half a basic income for a year (possibly more than half with food included). Concerns are raised about inflation and businesses raising their prices. Complaints are made about giving money to people instead of investing in infrastructure.
http://248am.com/mark/kuwait/what-are-you-doing-with-your-kd1000/
Summary: This comment section could exist at the bottom of any article about basic income. Some people are already planning what to spend it on, which includes stuff from iPads to education. Some fear what others will spend it on, like travel instead of local goods and services. Fears of inflation are expressed, as well as opinions that giving money away instead of investing in infrastructure is stupid. Someone claims the money will amount to effectively zero after banks absorb it. Someone wants to refuse the money because it's wrong.
http://www.oxfordbusinessgroup.com/economic_updates/kuwait-keeping
Summary: Instead of rising, inflation dropped. Food prices were worrisome (although greatly affected at this time by global factors http://www.worldbank.org/foodcrisis/foodpricewatch/april_2011.html). Housing cost rises did not accelerate and instead slowed down. GDP growth estimates looked good but not great. Overall, things looked good.
http://www.kuwait.nbk.com/InvestmentAndBrokerage/ResearchandReports/$Document/GCCBriefs/en-gb/MainCopy/$UserFiles/NBKGCCBriefKuwaitmacro201203E.pdf
Summary: GDP was better than expected. Inflation slowed. Consumer spending was strong. With an estimate of 1.7 billion in contribution to GDP, this is 0.6 billion more than the grant cost, reflecting a possible multiplier effect.
http://www.marcopolis.net/economy-of-kuwait-in-2012-growth-diversification-inflation-2806.htm
Summary: Economy still looks good. Inflation not an issue.
TL;DR - Overall Conclusions:
-Kuwait announces plan to give every citizen about $4,000 USD.
-People scream the sky will fall in the form of massive inflation.
-Money and food is distributed.
-Sky actually clears up as inflation goes down.
-Strong consumer spending leads to increased GDP growth.
