Dubai Debt Nightmare; Questions and Answers about the Economy

[gbvb79]

Your a good man Demcad. If only more people shared some of your ideals. Keep up the good work.

[daiz089]

l like this guy!!!!!!!!!!!!!!!

[thetwentyteens]

Rent, Reginald, rent. That's what I do. It's the best.  You hand your landlord the rent on the 3rd and then you don't think about anything for a month.

So, you won't take any donations? Who are you? The Anti-George4title?

You're a good man. Keep it up.

[EquilibriumTheory]

Agree on local charities. Five stars!

[Jrien]

A decline of 45% FROM NOW?!?!?! Please pardon me, I'm going to go curl up in the fetal position for a little while.

[XonixRogotta]

A lot of people are confused about how Dubai can be in debt since it's part of the oil rich United Arab Emirates. The reason is because 90% of the United Arab Emirates' oil wealth is in the emirate of Abu Dhabi (Dubai is a separate emirate). Most likely to prevent Dubai from defaulting on its debt Abu Dhabi will be forced to bail them out.

[idatomhue]

A lot of the Dubai debt is owed to UK banks which were bailed out by Gordon Brown so a lot of the debt will be transferred to the UK tax payers. The full extent of global bad debt is not being declared we are now entering the second phase of the depression where IMO things are going to get a lot worse. Printing money and bail outs will soon look like a band aid my guess there will be more band aid bail outs. Markets right now are artificially high.

[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?

[doc7474]

I really respect men of character, DEMCAD. I wish you the best of luck in finding a job, I'll be without one within a couple months myself too if I can't find another.

[logician84]

Total debt of Dubai equivalent to "only" 40 percent of value created in the United Arab Emirates in total. Compared to Iceland, which had 900 percent after the banks went over.

Abu Dhabi is one of the seven Emirates that make up the United Arab Emirates. It is the largest emirate by area, and the second largest by population, and will most likely bail Dubai out

[misscassiegirl]

Watch what the dollar does daily. We are at 74. In 2008 when we had all the problems we were sitting at 72. So we are just 2 cents from that point again. Great Video Dem.

[EmeterioBetances]

You should talk to people about how the US is placing 7 military bases in Colombia. Also how the United Nations had a report on how inhumane it is that the Richest nation has the highest unemployment rate and homeless in the world. Also how the US didn't even show up in Rome to deal with poverty in the developing world. Along with other developed countries who failed to show up to deal with poverty in the world.

[shampoovta]

Home is were the hart is Demcad.

Good luck friend.

[shaylo2006]

your cool!

[toshibavoodoo]

great

[samsontiger1]

You are a man of integrity! Bravo 4 u :)

[stshell]

yea i don't understand why dem doesn't have a partnership c'mon !!

[eSword77]

Reg, get well soon!

[1984noway]

You are a cool guy ,its good to know people like you exist in this greedy world

[mcgrawtim123]

I saw on TV that the Pontiac Silverdome in Detroit sold for $554,000!!! It includes 120 acres of land. It cost 100 times that to build. Detroit real estate is rock bottom.

[Rubmer]

hope you get the partnership, great video.

[JoanIsNotTheMaid]

Yeah, I'm waiting for you to become a partner too, Reg.

[skun406]

DEMCAD, you're the man! Give me a call if you visit Poland ;)

Housing (and not only) prices - I can't believe they're still so high!

[bullseyejoe]

Case/Shiller is NOT making that prediction !!!!

Someone is using their data and then making their own predictions.

Again... the prediction is NOT coming from Prof. Case and Prof. Shiller

[skyding8962]

I thought that prediction sounded suspect. Didn't think case shiller would say such a ridiculous prediction.

[DEMCAD]

I made an note in the video that index is predicting it.

Sorry for the confusion.

[magbigblock]

DEMCAD,

Love your vids bro, and hope you had a happy Thanksgiving. Also, your laugh is infectious...I don't laugh often, but do when you do.

Now for the serious question, and I hope I don't get flamed...I've been watching the markets, metals, you and others for a long time. How did the (it seems) entire world get into trouble? There's been a lot of money spent and a lot of money owed from what I see. WHO has it? China? The Feds? Just trying to understand it all....

[d3adp001]

Is there a good state to get a job right now?

IMy house went down 45% already. if it goes down another 45%, it will be worth 25% of what it supoosedly was worth. If that happens I WILL walk away from it. I would stand a better chance of not paying this mortgage, and saving enough to buy a home outright.

Dow should be at 16750 to be equal to its precrash peak, indexed with gold

[skyding8962]

Demcad if you don't take donations, how about a mail order red head from ireland?

[magbigblock]

Sounds like Demcad has found an admiring sweetheart! GO Reginald!

[skyding8962]

Not me. LOL Ill order one for him online.

[magbigblock]

OOPS, sorry! lol Get him one though, or one to his liking so he keeps his humor in all this crap.

[skyding8962]

Demcad did you see Montys latest parody of youtube fighters. He poked fun at MOT's donations.

[Winst0nOBoogie]

To Buy or Not to Buy on Black Fri, in Dubai, Mumbai or Best Buy... that is the question.

Weather 'tis nobler in our minds to let suffer these sheiks and sovereigns who squandered an outrageous fortune, Or to take-out a second ARM(s) and bail-out against a sea of debt-restructure...

[RedWhiteandBetrayed]

Hell ya Demcad thats one thing I have always liked about you. Your not a pirate like George and MOT trying to swindle people out of their money.

[jenniferashley99]

3 years ago I got a part-time job working with this guy who auctioned off foreclosure homes in the Miami area. It was an independent business and he had to hire three of us. We would show up on Monday morning and the load of houses being lost by banks such as Washington Mutual, Bank of America, Citibank and so on..we would enter the information in the database. This was going on for years and my boss one day freaked out asking out loud "Where is the government?" He told me "Things are going bad.

[DEMCAD]

A bit more? lol

I would say that it's almost impossible to maintain credibility when you're asking money for a lawyer, child support or water bill.

[skyding8962]

Iloveterriers doesn't have anything against people asking for money on youtube because she would do it too if she had a webcam and 5000 subscribers. LOL

[bseven54]

Yea, mot asking for money was kind of lame.

[BLynchCAN]

Congrats on the 5K subs

[ScienceIsDead]

What are your thoughts on what is happening in Mexico and the Philippines?

[phantomcharger]

Peter Schiff has been predicting the housing market would go down as much as it went up at its peak.

So if in 2000 a house was worth 100,000 (the real value) goes up to 300,000 by 2004, think what it will be worth in 2011.

Try 35,000...Still think it cant happen , thats what the people would have said in august of 2001 if you told them houses would go up 3 fold in 4 years

Just watch that pendulum swing.

If half the people arent working it wont really matter what the prices of homes are.

[swvoodoo72]

You dont have your stuff yet?... where are your guns?

[vention4wh]

Man if I was that guy I'd go rent an apartment then walk away from the house. If I understand right, a short sale causes the IRS to count the difference as income but if you just walk I don't believe that happens.

I deliberately chose to buy a smaller place than I qualified for. My condo is strictly working class with very little section 8's, so it's nice here, but it's not fancy. If the economy holds up for one more year I'll have this place paid off. I'm buying metals as well, of course.

[matsutakneatche]

yeh, seems like that george4title is a bit of a scamster.

[richchamb]

I watch for the info, but love the comedy. Thanks! 5*

[GoAndersen]

Good post. Living by family/friends is important.

[TheMetalPerson]

Demcad, if you buy a house and the price goes down, you will have to pay less in property taxes. That means its easier to live through the depression if you DO own the house.

People who are trying to flip their houses are just speculative investors that lost.

[TheMetalPerson]

None of the money I paid in rent nor dorm comes back to me. NONE of it. 6 years of rent payments and I don't have any equity.

Why should people who want to flip their houses be rewarded?

[TheMetalPerson]

I feel like a sucker. I should have bought a house instead of going to college. Low property taxes, government not letting banks foreclose. Franny and freddy taking over my mortgage and giving me the ability to rent.

I want in!

[DEMCAD]

But you'll be paying the same amount for insurance, mortgage, maintenance and repair.

[TheMetalPerson]

Yes, but I would have had to pay those anyway regardless of my property value going down. The house you're living in should be treated as a living expense, not an investment for gain.

As for mortgage payments, wouldn't they just kick me out for foreclosure? I thought the debts were cleared after the bank forecloses the property. Is there something wrong with others having to move into their parents house like you and me? I don't own a house and neither do they.

[Silveracity]

I dont believe that there is nothing wrong with greed by itself, as long as you are honest and you obey the law.

[centervilletn]

the stock markets worth in dollars is 10,400+- but the dollar has lost 13-14 percent in value this year...so its really worth dow 8500+- ...

If you see a reversal in the dow you will see the dollar go up...as well as gold if the model holds.

[ike7332]

5 star thanks demcad

[Irm6001]

thanks for all your hard work

[tonapah141]

Lindsay Williams said more than a year ago that Dubai, tha Arab states, & tha Dollar are gonna CRASH.... it's all been Planned out by tha Elleit Bilderburgs, Rothchilds, and their RoyaL BloodLines to bring about their AGENDA for a New World ORDER, Check out what Lindsay Williams says?

[justmy10cents]

good job dem glad ur back doing well god bless

[elgringote3]

our house is up for bankruptcy auction on Dec 3rd. The bank is asking $265K. I just did a "Zestimate" and it lists the value at 247K and the average selling price for a like house is about 230k. so, my guess is it won't sell and we will keep tending the property for the bank.

[elgringote3]

Demcad, props to you for recommending local donations. Best way to make an impact and see the result. My wife asked last night who I know that could use a food donation for the holidays as we are doing a collection at work. Unfortunately, I know about a dozen right off the top of my head.

[murphmanthetruth]

The dubai nightmare the british banks are into this debt big.

What about the us banks i dont know ?

more info please.

[TracyM1974]

Another 45% decline is hard to fathom.

Our "luxury condo" has dropped from 230K in 2006 to 60K now. We have a short sale pending for 75K. We also have a professional negotiater to negotiate the deficiency. Now we have to hope for the best.

Many in our neighborhood want to stay until the market bounces back. I don't have the heart to tell them it may not bounce back for a long, long time. They are used to 35% apprecation and think of their home as an investment. It is sad.

[DEMCAD]

As more houses, become available, the prices will drop. And maybe some areas will only drop 20%, while others will drop 60%.

[PatriotEke]

I bought a house in April 2005 for 384K. It is now worth less than 150K. My area had the same decline the dude you commented about in your video said he had. We moved out pending a short sale. A professional negotiator is helping us. Do not talk to your bank about a short sale. Get a professional negotiator. Any realtor in your area should be able to give you a name of a negotiator they have worked with who will be trusted to help and not scam you.

[LemonyOfTheState]

Yes, Dubai is going down the pan. Its no surprise really. I was there last year at the beginning of the recession and was shocked at the sheer reckless expenditure - it truly is a "capitalists dream on steroids". Its totally unsustainable in the long run, both envirnomentally (they have no fresh water supply so all the city water comes from sea water therefore has to go thru desalinisation plants) also you have thousands of building being air conditioned all year round, and economically.

[5starrater1]

Good stuff, Demcad. Bless you.  Hope you feel better soon.

[Robert697]

With one oz of silver, you can get almost 36 thousand Colombian pesos or Venezuelan bolivares. A beer is about 1100 pesos, and an egg is about 200 pesos.

Now re-write this in dollars:

A beer is 1100 dollars, and an egg is about 200 dollars.

That's where we're headed.

[charlesfuchs]

Demcad, how come you dont do videos with them.

[DEMCAD]

With whom?

[charlesfuchs]

Like george4title, back burner news and MOT?

[catdog262]

Gold prices will begin to drop severely in the coming weeks.

[slobomotion]

You are as usual up on things. We heard about Dubai here a couple of days ago in France. I saw that coming! My spouse still thinks Dubai is neat. I dunno. Best to you, will share this widely. I do hope you at least get an account where ads will give you a small royalty. No harm in that!

[Guldumar]

HI Demcad / Reginald. I must say that you are one of the most honest ppl on youtube. Hope everything works out for you. Peace :)

[TheLiberalssuckdick]

this is the people's chance to pick up some gold!!!

were down $40 dollars on gold, talk about black friday discounts.

LAST CHANCE. Too much going on in the world and these interest rates these central bankers have are rediculous.

[shawnaspen25]

Aspen is your spot!!

[x11115]

I have studied the great depression inside out and you can make many parallels to this one. If you don't think it can't get worse your in dreamland. the nature of the housing market takes longer to kick in than other types of financial crisis. The very nature of selling a house is different than how other assets work. a good housing crisis could take a decade to sort out.

[x11115]

I agree with you about the US stock market. Also if you look at the corporations debts in the exchange most corporations are in a world of hurt. To be worth anything they would have to make a net profit. Especially if you look at financials. Check out any bank and their floating mega debts. Also these corporations usually are not hiring new workers. If business is so good they would be hiring. finally their earnings growth and other stats are always revised and worse than unrevised.

[chena3]

would even send you

a badger in a box ...

if you think

you could handle one ...

but be advised...

he ,the badger

would eat your parsnips ..

they're like that ....

[bufforilla]

I think Demcad prefers beavers over badgers. LOL

[chena3]

demcad ...

will send you parsnips

if you want some ...

[slobomotion]

Parsnips! I hope he grows some there in Flint! He is a good guy. I did offer to send him some money -- I knew he would refuse, most likely, but it was important to me to offer it. He is right, giving locally is great -- I did it with him in mind!

[Iain1962]

Well you know Al Maktoum borrowed a whole bunch of money from the UAE six months ago to pay the last installment, it wasn't hidden it was common knowledge if you were attentive. Dubai is bankrupt !

[kryogenikz]

Church Demcad Chuuurch!!!

[SevereTstormFan]

The Dow Jones rally means nothing. In the the massive prosperity of the 1990s the Dow was going up roughly 1000 a year. Now in only the last 8 months the Dow went up roughly 4000 points. In the greatest downturn since the great depression the Dow went up 4000 within 8 months. That to me is impossible. It is either inflation, stupid investors, or the FED is injecting tons of money. Or maybe its all three together.

[limitedplay]

chinas market is down 666

brazils market is 66,600

WTF our 52 week low is 666 on the S&P man we are screwed get to alaska fast

[chiyerano]

I am really not surprised about what's happening with Dubai. Looking forward to more videos.

[skyding8962]

Nice question and answer. I enjoy these.

I just wonder if the whole dubai thing is the beginning of a huge stock market crash again. It could be the thing that causes the domino effect. The stock market is so overinflated we been overdue.

Housing is not going to drop that much because houses are so cheap now in some parts of california they are going up in price now. The expensive houses will go down, but not the lower end.

Demcad I see you monetized your blog. Good for you.

[pauliewaulieflimflam]

you have such a big heart man, good luck to you

[odin422]

Funny second question haha

[skybirdbird]

DEM......you are a good man....and you are correct.......if you donate money.......donate it to a local food bank!

[lindabebe835]

When you find yourself in a situation where the house loan is much more than the house. You give the house back to the bank. Mail in the keys. Foreclosure. Look at the laws in your state, some banks may come after you for the difference. it depends. I dont think so bkz of the financial mess their in unlikely they will bother. Good luck.

[danbowski40]

Jump on that partnership Reginald, before the dollar turns into toilet paper. Get payed for the great job of awareness that you do my brother.

[robert4you]

Good comment! I agree 100 %.

[endlessmountain]

its 1:20am (off to bed) and the Dow futures are down 2.5% now and the S&P futures are down 3% now.

Its a shorter trading day on Friday... We'll see if we can have a 400 point down day.

GO BEARS GO!

[gasdorf]

DEMCAD very is funny tonight

[shoeman3434]

Great video, Demcad. Much appreciated!

[JOHNNYH8STHENWO]

I'm originally from Michigan. My relatives say it's not going to great there.

[gasdorf]

1st

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