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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Chispas who wrote (106392)11/28/2009 1:38:10 AM
From: Hawkmoon  Read Replies (1) of 110194
 
“Dubai sends markets into turmoil,” begins the Financial Times. Dubai is a financial center, built on sand.

This was only to be expected. There has been an exodus of foreigners from the Emirates going on over the past year. People lost their jobs, but there is no debt forgiveness in the Arab world. If you owe money that you can't pay, odds are that you're going to debtors prison:

nytimes.com

globalenvision.org

Hawk
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