Nov. 27: Stocks Slide on Dubai Debt Concerns

December 1, 2009 · By admin

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Stocks tumbled as concern swept world markets that financial trouble in the Middle Eastern city-state of Dubai will upend a global economic recovery. (Nov. 27)

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17 Responses

abarzilai664

November 27th, 2009 at 2:34 pm
1

-154 points is small compared to -700 last year yet this won’t be the last crash in the world, bear in mind two other corps. went down before Lehmen did.
oilhammer04

November 27th, 2009 at 2:45 pm
2

“Build your hopes on things eternal . . . . they will never pass away.”
gbrady3434

November 27th, 2009 at 2:47 pm
3

$60 Billion default… that is staggering! They were creating many jobs with their projects… what will happen now? “When it rains it pours”.
RadioBull

November 27th, 2009 at 2:53 pm
4

Jobs, they were more like slave camps.

I’ve seen a few documents about these construction yards and their workers, many of these workers committed suicide because they didn’t have the money or permission to leave the construction camp + they worked in unbearable heat during days and very long shifts, with shit salary.
gbrady3434

November 27th, 2009 at 3:03 pm
5

Why am I not surprised?
RadioBull

November 27th, 2009 at 3:06 pm
6

Yeah tell me about it. The words that comes to my mind is, greediness has no limits.
BertGriffin88

November 27th, 2009 at 3:15 pm
7

Obama,
it’s just another sad day in America for the American people, not the American rich people, but the rest of us, the American people. Over the last 60 years, Thomas Jefferson’s preamble to the Constitution was changed from ‘We The People’ to ‘We the Rich People’. Even if you didn’t get the memo, you certainly got the reality. The wording ‘To Form A More Perfect Union’ was changed to ‘To Form a More Perfect Union For Rich People’. If you’re not rich, your union won’t be so perfect. O’K?
mard420

November 27th, 2009 at 4:08 pm
8

DOW jones, 10 years of progress and still worth less than it was in 1999
MrsMaryLouRoberts

November 27th, 2009 at 4:35 pm
9

Compruebe por favor hacia fuera el punto del blog del Jesucristo ama por siempre amen y dice a todos que hablen y lean español El Jesucristo de mayo bendice le por siempre y a sus dos niños Gabriel y Janna ahora conocidos como Jeff Fisher y Marlin Bowell de Jane

Separe el mensaje por favor

El sitio para todo es El Jesucristo ama por siempre Amen y su un punto del blog

Soy tan emocionado que Richard Saskle me envió por correo electrónico
ChristianLove2008

November 27th, 2009 at 5:45 pm
10

You have to understand Dubai does not have Oil, 99% of all the buildings you see in Dubai were created from credit which it got from world banks. Dubai doesnt have the luxary of being a liquid based economy since it doesnt Sit on any Oil, unlike its other Big Brother Abu Dhabi which has 10% of the Worlds Oil which will probably take over all the debt or maybe not. But nonetheless its Dubaies situation is like Owning a Million dollor Home but you cant pay the utillity bills.
HemiHead66

November 27th, 2009 at 8:26 pm
11

That’s what you get when your economy is fueled by credit. Bubble and Bust!
ChicagoJoe57

November 27th, 2009 at 10:57 pm
12

I am glad that Dubai never got their hands on our ports. Remember when Bush said that he would veto any attempt to stop the dead?

Who would want a broke country to own our ports today?
fghaznavi81

November 28th, 2009 at 7:50 pm
13

RadioBull…I agree with you because I lived in Dubai for more than ten years. I’ve seen people sleeping in knee high water, infested with rates, walls covered with fungus and when I confronted my GM to improve the living conditions of company worker, I was told to keep quite and then blamed for instigating the workers who happened to be from India, Pakistan, Bangladesh & Nepal. I myself lost 8 months salary and arrears when I left the company….Might is right….thanks God I’m out of that hell
SupportDubai

November 30th, 2009 at 8:48 am
14

Leave Dubai alone!
munstud

November 30th, 2009 at 11:55 am
15

Exactly, Get your money and get the hell out of there before it defaults and goes bust. That new snow ski city might as well be a giant ice cube maker in the long run…..

Who would go to Dubai in the current situation?
ed291

December 1st, 2009 at 4:37 am
16

lol love ur name pal.. U know Dubai could recover tomorrow.. only if Abu Dhabi gives ten percent of its lovely sovereign wealth found (est 600bn) to Dubai.
That way you guys are out of debt and making a profitable return.
I hope intelligent emiraties such as yourself have learned a vital lesson out of this, for example paying westerners 4 times their salary to do half the work.. such indulgence is never healthy.
ed291

December 1st, 2009 at 4:42 am
17

Dubai will remain in-depted and powerless because Abu Dhabi will keep it like that.
Lets be realistic, Dubai could be out of this mess over night if they could because UAe partner Abu Dhabi are minted.. and could easily restore confidence and pay off these debts but it is holding out.. why? too drive the price further down in order to buy the most valuable assets at dirt cheap prices…