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camarodan64 (< 20)

Can you beleive Dubai the oil rich nation is actual not rich but bankrupt



November 27, 2009 – Comments (5) | RELATED TICKERS: GG , KGC , ABX

silly Dubai and silly people garnishing the Dubai as wealthy, i guess so, they went billions into debt, aquiring morefalse riches with loans,  hey who did not see it coming, with the real estate project going up



they thought like american's they built and built and borrowd and borrowed,  look for gold to sky rocket from here

5 Comments – Post Your Own

#1) On November 27, 2009 at 11:50 AM, TMFTheSnake (< 20) wrote:

Dubai isn't an oil rich nation. Nearly all the oil reserves in the UAE are held by Abu Dhabi.

 So yes, I can believe (or beleive) that Dubai is bankrupt.

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#2) On November 27, 2009 at 12:04 PM, djkumquat (40.93) wrote:

dubai bye

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#3) On November 27, 2009 at 12:09 PM, Rebkong1 (< 20) wrote:

can you believe america , what used to be the greatest nation on this planet is WORSE off than Dubai??

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#4) On November 27, 2009 at 2:23 PM, Imperial1964 (95.67) wrote:

Naw, they're not bankrupt.  Just their soverign wealth fund (that's right, their government has excess money lying around to invest) has gotten too aggressive and is having trouble servicing the debt on its leveraged investments without having to sell into a down market.  Instead they are playing hardball with their creditors.

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#5) On November 27, 2009 at 2:32 PM, greenwave3 (< 20) wrote:

Dubai's fortunes mirror that of the rest of the overleveraged world.

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