Dubai prepares to default on $59B in deb…

Dubai prepares to default on $59B in debt. Dubai poured a to of money into real estate that has already declined 50% and may fall another 30%. Credit default swaps are more expensive now than when Iceland’s cental bank went under last year

About Art Stone

I'm the guy who used to run StreamingRadioGuide.com (and FindAnISP.com).
This entry was posted in Uncategorized. Bookmark the permalink.

One Response to Dubai prepares to default on $59B in deb…

  1. Art Stone says:

    Looks like this might be the “thing” that was causing the rush to U.S. Treasuries… European banks have $40 Billion in exposure to Dubai. This could be round two of “Global Economic Collapse” beginning today (while Goldman Sachs is out cleaning up after Thanksgiving dinner at homeless shelfters)

Comments are closed.