1) many shitty economies have low debt-to-GDP ratios. Russia, for instance.
2) 640B in reserves is not as much as you think. Around a year ago Russia spent $1B per day trying to stabilize their crashing currency. They eventually gave up.
3) oil reserves don't mean shit, because with the current price we got pretty close to self cost. If you have 10 trillion of oil, but it costs you 9.5 to get it, it doesn't look so cool anymore. You actually listed some examples yourself.
1) many shitty economies have low debt-to-GDP ratios. Russia, for instance.
2) 640B in reserves is not as much as you think. Around a year ago Russia spent $1B per day trying to stabilize their crashing currency. They eventually gave up.
3) oil reserves don't mean shit, because with the current price we got pretty close to self cost. If you have 10 trillion of oil, but it costs you 9.5 to get it, it doesn't look so cool anymore. You actually listed some examples yourself.