Dubai
When Bear Stearns went down early in 2008, most people thought it was just a straightforward bank failure brought about by careless management. A few, very few, saw it a straw in the wind, later to blow through the world financial system with hurricane force. Now we have Dubai, the first country, albeit tiny, in trouble. Again the rationale is explained. Over-gearing, excessive reliance on property, not much oil wealth.
So is this a one off? Or are other countries, bigger ones, due to follow? We already have Iceland, but that country’s economy was its banks. When they went down, there was nothing. Other names are now in the frame. Latvia? Ireland? Could it happen even to us? The answer is yes it could, but it need not. The way to avoid that desperate late night phone call to the IMF is to do something meaningful about Government debt. At the moment it just gets bigger.That is the road to Dubai.If we end up there, it will not just be straws in the wind. There will be flying oak trees up rooted and spinning through the air.
It is important for our leaders to see Dubai as a wake up call.
Fairly insightful publish. Never believed that it was this simple after all. I had spent a superior deal of my time looking for someone to explain this topic clearly and you’re the only one that ever did that. Kudos to you! Keep it up
This really answered my problem, thank you! 🙂
I just wake up from sleep and I’m already reading your articles. It signifies something! Very useful materials. Thankx!
Fantastic Stuff, do you currently have a youtube account?
Heyy – I should say, I sure am happy with your website. I had no trouble navigating via all of the tabs and the information was really easy to gain access to. I discovered what I wanted in no time at all. Pretty awesome. Thank s alot!
Brilliant post. You know I just got back together with my ex and this blog just made me even happier.
Sorry to hear that.
Wow, interesting! Has anyone else come across the same thing compared to this? I am curious where to find more responses on this matter…
I actually knew about most of this, but having said that, I still thought it was useful. Nice job!
What a great blog. I spend days on the internet reading blogs, about tons of different subjects. I have to first of all give kudos to whoever created your website and second of all to you for writing what i can only describe as an amazing post. I honestly believe there is a skill to writing articles that only a few posses and frankly you have it. The combination of informative and quality content is definitely extremely rare with the large amount of blogs on the internet.
Thanks, good content. Helped me write some posts on 2010 black friday specials. Added your post to my bookmarks.
Interesting reading. I appreciate your effort, have a nice day!