Wednesday, December 2, 2009

Dubai Debt Towers On Foundations of Sand

When taking questions about the fallout of Dubai World's request for a standstill on its debts, Sherikh Mohammed bin Rashid Al Maktoum, the ruler of Dubai, said,"The international investors do not understand anything."

A very thought-provoking statement!

Ulber bear investor and Gloom, Boom and Doom Report editor Marc Faber said Dubai World's debt problems are just the tip of iceberg, and suggested investors would be better off not buying U.S. government bonds.

It is a wake-up call!

Picture: By courtesy of Ed Stein

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