Anyone get the feeling that this is
exactly what could happen to us as well? Maybe if we stop spending, pay down our debt, incentivize businesses to create jobs, and then
maybe we won't cripple our and the world's economy?
Just a year after the global downturn derailed Dubai's explosive growth, the city is now so swamped in debt that it's asking for a six-month reprieve on paying its bills - causing a drop on world markets
Thursday and raising questions about Dubai's reputation as a magnet for international investment.
Markets took the news badly - with the Dubai woes and the continued fall of the US dollar giving investors twin worries.
No comments:
Post a Comment