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Something like this could do it. Dubai is belly up.

Discussion in 'Preparedness & Survival' started by Gunner3456, Nov 27, 2009.

  1. Gunner3456

    Gunner3456 Salem Well-Known Member

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    Link

    WSJ

    Euronews

    Dubai - Wikipedia

    World markets are in a panic this morning. Freewheeling Dubai is broke and asking creditors for a six month holiday from making any payments.

    A LOT of big money investors have poured money into Dubai. Dubai is the #1 world trading center for gold.

    This is going to send ripples all over the world in financial circles. Lenders have their necks out a mile on this.

    If not this, what's next? What if the next unexpected news is that some of the States in the US announce that they can't and won't repay their impossible debts? CommieFornia? MESSachusetts?

    What if it's the US itself?
     
  2. A2theK

    A2theK Olympia Member

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    Good - Ever since they prosecuted that girl for being raped a few years ago I've wanted to go there and dish out lead. An economic collapse isn't too bad, but I'll take it.

    When are we invading anyway?

    I say if were going to do so called "war on terror" this let do it right and wipe out the whole peninsula.
     
  3. Just Jim

    Just Jim Well-Known Member

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    The lamestream media is playing this down say they are 60 billion in debt and can't pay. America is trillions in debt and soon won't be able to pay. What then?

    jj
     
  4. 56kninja

    56kninja Portland Member

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    We do what we do every day, plan to take over the- I mean, print more money.
     
  5. Trlsmn

    Trlsmn In Utero (Portland) Well-Known Member

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    Who in there right mind would consider Dubai a must see tourist destination?
     
  6. swoop

    swoop Milwaukie, Oregon Well-Known Member

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    That's what I would like to know. :confused:
     
  7. HappyRoman

    HappyRoman Sherwood Forest Bronze Supporter Bronze Supporter

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    You
     
  8. Gunner3456

    Gunner3456 Salem Well-Known Member

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    Well, Dubai has been the center of luxury and excess for the super wealthy including Monarchs of States for a while now. Dubai may owe what it owes, but developers and investors have spent much more and have borrowed for projects there too.

    Dubai is building the world's tallest and most opulent skyscraper:

    Link

    They have built man made opulent islands and sold land for the wealthy to build mansions upon:

    Link

    There's a lot more at stake than the amount that Dubai owes. (Reports vary from $60 bil to $100 bil.) A LOT of private investors owe even more.

    Dubai hasn't had a recession and now they may have a crash, including real estate values. It could run to the $trillions world wide. Lenders could get wiped out in some places.

    We live in a world-wide debt-driven house of cards. If not Dubai, what will be the first card yanked out?
     
  9. coctailer

    coctailer Portland, OR/Hastings, MI/Vancouver,WA I run with scissors.

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    There is an International Arms and Armament Show there sometimes.

    I would love to go to that one.
     
  10. Gunner3456

    Gunner3456 Salem Well-Known Member

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    Think of it as Las Vegas for the super, super rich, with beach frontage. :)
     
  11. svxr8dr

    svxr8dr Vancouver, WA OathKeeper #004404

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    Formula 1 venue like no other as well
     
  12. aslinged

    aslinged Southern Oregon Well-Known Member

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    Knew a guy who went, said you could get anything. Anything.

    Also said a cup of coffee in the hotel was 30 USD. A pastry was 20.

    The sheiks paid for everything though.
     
  13. bolen05

    bolen05 Vancouver, WA Member

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    so if dubai is 60B deep that means that basically one of there 200highrises is in forecloser? Doesn't sound like a world wide emergency. Besides we can print 60B and send it to them no problem- we do it every day, just ask the obamanator!!
     
  14. Gunner3456

    Gunner3456 Salem Well-Known Member

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    Some reports say $US60 Bil others, $US100 bil. That's just the country's debt on projects. There are thousands of other big investors there too. Real estate prices and all other prices skyrocketed. What if they crash?

    Something somewhere at some point is going to push the first domino in this debt driven world...
     
  15. raindog

    raindog Portland, OR Active Member

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  16. clearconscience

    clearconscience Vancouver, WA Well-Known Member

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    They also have a indoor mountain for skiing and snowboarding.

    They have been building and making the worlds best of the best for everything. It's really no different than the US only on a much grander and more luxurious scale.
    Build huge and hope people will come throw money at you, but when they don't or your debtors want their money, your up the wrong creek without a paddle.....Or a boat and concrete blocks tied to your feet.

    I saw a sheiks car at a Dubai car show. I was a one billion dollar car, a Benz SL500 covered in diamonds.
    Cost you like 10k just to sit in it.
     
  17. willseeker

    willseeker N. Portland. Well-Known Member

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    It'll be interesting to see how the US market reacts on Monday.

    The water is heating up.
     
  18. MacBookProAR

    MacBookProAR Stayton Member

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    I think we can all agree that we would have no issue with Vegas becoming beach front as well.
     
  19. MarkSBG

    MarkSBG Beaverton Oregon Well-Known Member

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    Oh you haven't been? You simple must. I like to visit Dubai once a quarter. Just to get away from the mundane, you know...;)
     
  20. powersbj

    powersbj Seattle Area Active Member

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    Dubai is so last year.