World Markets Tumble on Dubai Debt, Weak Dollar

[tommurak]

@WEREFEAT , you need to open your eyes and look at the Federal Reserve and WHO is behind it

[catrashoo]

i know only one thing and one thing only ,,,what goes up sooner or later must come down n_n

[TemperatureVariation]

The world's economic situations so depressing. I guess greed is the cause of the worlds economic collapse.

[duffy8848229]

fuck you digitalcntrl

and I have no time with you

[buytan11373]

the economy doesn't generate enough profit so how can they pay? they have a faulty system.

[tejaspics]

bye-bye Dubai!!! hahahahahahaha

[duffy8848229]

All of you jealous of this city

[digitalcntrl]

We are jealous of a city built entirely on a real estate bubble?

[SupportDubai]

Leave Dubai alone!

[ed291]

Dubai is fucked, end of.. it will take 20 years to recover and that is based on whether it can maintain its Middle eastern hub status which is doubtful as many contenders are racing to replace it... notably Doha.

Things would have been alot more different if Dubai had tried to take control of its outlandish projects and concentrated on building sustainable sources of income away from speculative investors who buy and sell based on emotions, Fear is the whats driving them to oblivion right now

[jethromayham]

Dubai can kiss and hug their solid gold toilets. It's the end for those worthless project that try to flaunt their wealth. And they better pay Osama first or he'll attack those decadent towers.

And be fair with the real heroes of Dubai, the hard working overseas workers. They are the ones that toiled in the extreme conditions for oil barons and financial institutes. They and their family are the ones that suffered the most.

Power to the workers!

[jethromayham]

Dubai treating Indians workers like slaves.

Indians were the workforce because the Arabs were too illiterate to follow orders.

Boycott Dubai, hell hole for the rich and famous.

[pakinight4life]

it just wasent indians.. It was lots of foreign workers from mostly sub continent countries. Arab's just found indians like you said; a cheaper workers who would work for any price mostly, not cause they where illiterate.

[kossmikham]

I'm not surprised the stupid arab idiot are broke. They blew all their oil money on the most frivolous, idiotic, moronic things imaginable: artificial shores and sand islands, artificial indoor snow and ski slopes, gigantic sky scrapers with tennis courts hanging off the sides - all of this in hopes of attracting tourism to a desert shit hole so fucking hot and desolate that no one would otherwise spit at.

That and whores. Thousands and thousands of whores. Sorry Dubai, it had to end sometime.

[tejaspics]

whoops! Bye-bye Dubai!

[EmeterioBetances]

After the fall of the berlin wall they still think that this economic model is the best model. Countries should in no way follow the America economic model. It bails out the Rich who are already wealthy. And leave the poor working class to pay of there failures. This is socialism for the Rich and not for the poor.

[thomasucc]

What I cant understand is why the Arabs are even talking about default. Ireland (my country) and Iceland didnt even contemplate default. We the Irish taxpayers are forced to pay for companies that fail to the tune of 77 Billion euros or about 100 billion dollars in a country of only 4 million people. Are we been told the truth about how much they really owe and why are the Dubais taxpayers not on the hook as the Icelandic and Irelandic people are?

[thomasucc]

To illustrate how the banks failing have affected Ireland. Im a Ph.D student/researcher the cuts in my researcher education income grants are shocking. In 2007 I got from the Department of Education: $820 per month for living expense, $292 for accommodation, $740 for research materials and $120 for travel. This was a monthly income of $1,972. Today all of these university payments are gone except for $820 living expenses. So in effect over a $1,000 per month of my income is going to the bankers

[jethromayham]

Arabs did it deliberately. That is one thing they did on their own, Hahaha. Now the rich are trying to stay away from that garbage dump of the super wealthy.

I think Iran will move in and turn the city into a hell hole and all Westeners will flee.

Dubai treats their foreign workers like shit.

I bet the workers will break windows if they are not paid.

[XionXXXX]

Nah, I think Osama Bin Laden will show his face and move in, he's probably got a new target for another attack, the Dubai Tower.

[pakinight4life]

lmao so true... he likes countries poor, and big towers.

[TheIxtlan]

Don't worry, The WTO and NWO is in control.

[uturniaphobic]

the dollar is not a currency, it is a wall street slave, slanted in the direction that suits their needs. All who use this currency to buy and sell (self included) are slaves to its manipulators.

[seeexiamberr]

really bored and cute ^^.. Anyone want to chat or swap pics

[GreatSatan1]

500 words can't do it, but I think the US and big business paid off whomever in whatever country was the best least threat to the US. Most of the time they were the best for the most of the populace. Not my long suit, international intrigues. But, money talks, and bullshit walks works.

[tejaspics]

whoops! These suckers are goin' DOWN baby!!

[kissmybuttdimple]

running the scam from the castles of power. the hooks in the mouth america. FEEL THE PULL.

[jjbarbados]

arabs should start working one day and stop doing those stupid teen-age competition of `whose got the biggest c.. thing`

[pakinight4life]

it wasent that there most income was oil, and fishing industry. but they wanted tourism lmao even with all the attractions im not going to the efin desert..

[tejaspics]

Hahahahahaha!!! Dubai is going DOWN baby!!

[gondorprimulat]

An $80 billion debt for a city that currently has trillions of dollars in assets.

Hmmmm....somehow I think Dubai will make it through. Come on people, this is just media hype!

[M3diaCultur3]

then why don't they pay it? because they can't. lol.

the fact is, without the oil that jump-started their boom, they'd be just a desert.

[gondorprimulat]

THey don't pay it because their neighbour is willing to bail them out. So why sell your assets when you have another source of money? Selling assets is always the last resort.

I mean, I know this is the end to Dubai's accelerated growth (probably). But at the same time, the city will pull through. This is all media hype.

[M3diaCultur3]

neighbor is willing to bail them out? Abu Dhabi right? again, oil money. that's all they really have.

[gondorprimulat]

cant say no to that ....

[M3diaCultur3]

you think Doha will go the same route?

[gondorprimulat]

In the long run, yes i think they will. but perhaps this will wake up the leaders.

[maricopaapt14]

When the Oil Dries up in the U.A.E, it will become another Welfare State. Do they seriously think anyone will want to visit Dubai, the pothole in the Sahara? What I am worried about is why we continue to trust overseas development to pull us out of debt. Manufacturing in our own country, and exports should be our focus.

[hailtotheraiders]

Since the stimulus b/s for infrastructures earlier this year hasn't work...why not invest it on the consumer. Give each working class stimulus debit card..that can only be used on retail companies that are contributing to this country's economy. Christmas is coming...i'm sure people will gladly spend money. If we sit and we do nothing....we could likely be in depression next year.

[TheIxtlan]

Don't worry, God is in control.

[NauticalFILMS]

Something is going on here.

Morgan Stanley Bankers Son Disappears in Frankfurt. He knew about finanical crisis. WTF is going on here.

The world economy is going bankrupted. Wealthiest people are going bankrupted.

America is going bankrupted.

Nicholas Cage lost his million dollar home.

Wealthiest people will be poorest people in 21st century unlike Great Depression.

[GreatSatan1]

It could have happened that way. But it didn't . I read that book confessions of an economic hit man and it was just a fantasy worked backwards to look as if the motivations were sinister. If you look behind the curtain you will find a 5th columnist trying to throw a spanner in the works. Every time.

[NauticalFILMS]

HERE's real problem the real Gods**. They deliever tons of food. MAssive food. It's extremely unbelievible huge. Food GDP is huge. ASK Allah or God.

there's little money around the world. poor people can't afford it with little amount of money. so who is cheating the money? greedy executives...

Dow Jones market boom from 1980-2003 isn't even real. they made look like real booming market.

you see God is very smart. he could plummet stock market on 2012.

[VictoryCough]

People are actually thinking this falling dollar is a good thing! I am hoping we choose to go back to hard money and are not forced to. These keynesianist economist have now had to admit the boom-bust cycle exists, but they pervert the idea! They point to Milton Friedman not believing in it and his opinion that role of the fed was to control the money supply! The only ones who got this right all along were the Austrians! $60 Bil in debt? Thats nothing!

[Omega3chimp]

is this good for USA?

[GreatSatan1]

It is no great leap of understanding to realize that American Progressives have brought this about worldwide with their redistribution of wealth schemes. Unintended consequences look like a house of cards fallen down. Progreesives can crow for maybe a day or two, SUCCESS, they have brought about anarchy and the world will revert to a survival of the fittest in evey locality. Ironically, those the least fit to survive are the very ones who brought this about inn the first place.l

[GreatSatan1]

Get ready for Mad Max world. Time for each country, including the US to withdraw from the international, global, economy. Protect your borders Optimize your own resources. Food and shelter and police (military)to maintain order. Organize your own communities for survival. Everyone will be a "community organizer" now. Afghanistan wins after all. We will all be tribal societies from now on.

[humaner]

Did anyone really believe Dubai was sustainable.The monarchy there was completely out of touch with reality.Outlandish designs,gold faucets just a pig fest of extravagance and dreams .

[MarquisdeBarrabas]

I thought Dubai was another Capitalist triumph.

I guess not.

I'm waiting for Singapore to bite the dust next.

[NauticalFILMS]

It's scary to see Dubai is going broke. Poorest people can't afford to buy expensive hotels. It will be ghost town of dubai. .

[GreatSatan1]

Please cite all the , or some of the Socialist Triumphs.

[MarquisdeBarrabas]

Now, now, don't get defensive just because your little free market, flat tax utopia is crumbling.

Do you want me to cite the triumph of countries with a welfare state, including universal healthcare, social security and more regulations on private enterprise than you can shake a stick at?

[GreatSatan1]

I suppose you could start with the two largest communist countries. Russia and China??

[GreatSatan1]

You are deluded if you think capitalism is anything but the driving force behind prosperity in the world. Regulation and central planning does not work dude.

[MarquisdeBarrabas]

Keep repeating it, one day you'll eventually believe it.

[TAMARLANE]

You too. Keep it up. Maybe someday you will win, but it won't look like you think.

Merry Christmas

[MarquisdeBarrabas]

The day that I win, we will all win, not just me.

Merry Christmas to you too

[BeatsRoyale]

Why the hell are investors panicking? Tell Dubai to call up Bernanke, and have him print them there 60 billion!

Problem solved!!!!!!!!!!!

[NauticalFILMS]

Because it would create hyper inflation. Wealthiest people can't feel rich it feels like North Korea... and that's real problem.

Why investors panicking? you could lose business, your home, savings, banks, etc.

you could go crazy on mayan calandar on 2012 which predicts the end of times.

[GreatSatan1]

We are past the end times. It happened last year sometime. We are only figments now.

[shampoovta]

They may default on the loans.

They my not do the "To big to fail" crap.

They may just walk away.

[NauticalFILMS]

Socialism is messed up. Saudi prince would be same kind of guy who works McDonalds. They don't have billion dollars. Are you millionaire? NO....

[NauticalFILMS]

It's true. wealthest people going bankrupted in the wealthiest nation.

Maoists say socialism doesn't work. It ruins the whole market around the world like crazy.

[abarzilai664]

The Bears have been predicting another crash, but no one expected it to come this soon.

[thirdcoastguy]

No problem. Dubai only needs to call Bernanke and have him print more money.  And if it makes them feel any better we can send Obama over on Air Force 1 to lick their boots like he did the Chinese last week.

Dial 1 800 White House for further details.

[cornishboy1992]

This is absolute rubbish dubai is not littered by many left or unfinished buildings. why do the international press have to make dubai look as bad as possible, its a 38 year old country problems are going to occur. The amercans are making rubbish like this so they have somone to blame the crisis on....as they always do.

[torak101]

I missed the part 'Americans" blame this on anyone. I need to watch it again I guess.

I'm sure it has nothing to do with the insane idea of building a "financial city" out in the middle of nowhere and getting slammed with a global recession ...

maybe if the rest of the region was at peace and not waging jihad on everyone and everything around them, they may have a bit more success.

As long as they put their religion first, they will never amount to anything but crazed killers for God.

[EmeterioBetances]

In bourgeois society capital is independent and has individuality, while the living person is dependent and has no individuality.

Karl Marx

[EmeterioBetances]

Gerald Celente was right about another wave of recession coming. The greatest Depression is here. After the berlin wall the fall and collapse of the fall out of the ashes rises again the system that has had a better chance of a global recovery. Even those in China ask for a strong Maoism reforming against free trade, neo liberal economic policies.

[EmeterioBetances]

The socialist system will eventually replace the capitalist system; this is an objective law independent of man's will. However much the reactionaries try to hold back the wheel of history, eventually revolution will take place and will inevitably triumph. -Mao Tse Tung

[Ultrasteve1969]

True, Celente is worth listening to. I learn alot from him.

[Stoepsel45]

yeah first !!!!!! The video can be better.