[2cher]

How wants to take a bet, that the United States will bail Dubai out? It will probably be the last loan china ever gives us though

[Kristjan]

$this->bbcode_second_pass_quote('mcgowanjm', 'W')atch RBS. They're the ones at the end of the line.

[Kristjan]

$this->bbcode_second_pass_quote('2cher', 'H')ow wants to take a bet, that the United States will bail Dubai out? It will probably be the last loan china ever gives us though

[vtsnowedin]

Why do people that are 'flying to quality' buy US "securities" today?
With the US deficit where it stands and growing by leaps and bounds and considering who holds the reigns of power in Washington where do they see any "Quality" in anything the US produces other than a boat load of corn or whisky.?

[SeaGypsy]

$this->bbcode_second_pass_quote('Kristjan', 'S')orry, SeaGypsy, didn't see your post there. I was replying to anther post during the time you wrote yours so it kind of slipped past. Sorry.

Ummm? This is peakoil.com.
Yes, I'm aware of that. But the title of this topic is not peak oil. My understanding is that we are not bound to discussing peak oil only.

Do you believe in peak oil?
I would argue that it is not a matter of belief, but yes, I agree that we are past peak oil or very near the top, anyway. I'm not a 'contrarian'.
Do you believe Dubai has any kind of future post oil?
Not really. Sandcastles always turn back to what they were built from - sand.
Do you want to encourage delusional investment in what is the most ostentatious of all the oil economies?
Nope. And I wasn't. I was merely trying to tell people not to expect a crash on international markets. I know that people are prone to selling their shares whenever markets slip into negative territory. Most of the time, these blips are just white noise. As I said, crashes are rare.

Last I heard they have 16 golf courses kept alive by oil fueled desalination plants (along with all the humans) and don't grow any food at all. The place is a nightmare waiting to happen. Anyone investing in such a stupid economy in the face of peak oil is a fool or worse. The sooner such absolute idiotic economy is wiped out the better.
I agree.

[crude_intentions]

Dubai would probably be in the top 5 money-stupid nations of the decade list. The Palm Islands, the Burj Dubai super-skyscraper. Dubai wants to make itself into the new Babylon of the modern age. The Falcon City of Wonder project even includes plans to construct a new Hanging Garden. I think they will succeed in that goal as the story of Dubai will become a lesson in morality for decades if not centuries to come.

[SeaGypsy]

$this->bbcode_second_pass_quote('crude_intentions', 'D')ubai would probably be in the top 5 money-stupid nations of the decade list. The Palm Islands, the Burj Dubai super-skyscraper. Dubai wants to make itself into the new Babylon of the modern age. The Falcon City of Wonder project even includes plans to construct a new Hanging Garden. I think they will succeed in that goal as the story of Dubai will become a lesson in morality for decades if not centuries to come.

[Sixstrings]

$this->bbcode_second_pass_quote('Kristjan', '')$this->bbcode_second_pass_quote('2cher', 'H')ow wants to take a bet, that the United States will bail Dubai out? It will probably be the last loan china ever gives us though

[eXpat]

Dubai Woes May Reach ‘Sovereign Default,’ BofA Says
$this->bbcode_second_pass_quote('', '[')b] Nov. 27 (Bloomberg) -- Dubai’s debt woes may worsen to become a “major sovereign default” that roils developing nations and cuts off capital flows to emerging markets, Bank of America Corp. said.

“One cannot rule out -- as a tail risk -- a case where this would escalate into a major sovereign default problem, which would then resonate across global emerging markets in the same way that Argentina did in the early 2000s or Russia in the late 1990s,” Bank of America strategists Benoit Anne and Daniel Tenengauzer wrote in a report.

A default would lead to a “sudden stop of capital flows into emerging markets” and be a “major step back” in the recovery from the global financial crisis, they wrote.

[IslandCrow]

From the slide show on http://news.bbc.co.uk/2/hi/business/8382103.stm (caption to 3rd image)

$this->bbcode_second_pass_quote('', 'T')he global downturn left many financial workers unemployed. The population fell an estimated 17%, meaning there was little demand for new properties.

[eXpat]

Those would have been all the expats running away...

[Kristjan]

$this->bbcode_second_pass_quote('SeaGypsy', 'O')k, we are on the same page then. What worries me about your original post is that it could be construed as a BAU angle on this topic; which I certainly do not agree with. Whether the current crash (we are still in the thick of one/ did you notice?) is a market screwup or a direct result of peak oil or a combination of both has been (and will remain for some time) a hot topic of debate on these forums and is right at the center of peakoil.com. So it is highly relevant.
"Most of the time" and "Crashes are rare" sound naive and BAU troll type lingo.
Either expound or do more reading.

[thor]

From now on Dubai will be spelled as Dubye. Says it all, doesn't it?

[Sixstrings]

$this->bbcode_second_pass_quote('crude_intentions', 'D')ubai would probably be in the top 5 money-stupid nations of the decade list. The Palm Islands, the Burj Dubai super-skyscraper. Dubai wants to make itself into the new Babylon of the modern age. The Falcon City of Wonder project even includes plans to construct a new Hanging Garden. I think they will succeed in that goal as the story of Dubai will become a lesson in morality for decades if not centuries to come.

[Kristjan]

$this->bbcode_second_pass_quote('Sixstrings', 'I') wonder if AIG and the US taxpayer is insuring all this?

[Kristjan]

No wonder they're knee deep in debt. Look at this!




And don't forget the islands.

.

[Tyler_JC]

I don't understand who would want to live in that kind of development.

It looks cheesy and pathetic.

People are paying MILLIONS OF DOLLARS to live in that monstrosity?

They don't need a bailout, they need a therapist.

[crude_intentions]

$this->bbcode_second_pass_quote('Kristjan', '')$this->bbcode_second_pass_quote('Sixstrings', 'I') wonder if AIG and the US taxpayer is insuring all this?

[crude_intentions]

$this->bbcode_second_pass_quote('Tyler_JC', 'I') don't understand who would want to live in that kind of development.

It looks cheesy and pathetic.

People are paying MILLIONS OF DOLLARS to live in that monstrosity?

They don't need a bailout, they need a therapist.

[kpeavey]

Too much money chasing not enough sense.

I would suggest that the ruling family does not subscribe to the notion of Peak Oil. Dubai is a McMansion on a national scale. At least when the crash comes they will have some really nice ghetto housing-until it is reclaimed by the sea.