Keiser on 'Tsunami alert': Dubai debt crisis awakes storm?

Fresh fears over the size of Dubai's debt have sent shock waves through international markets, with major stocks and oil prices falling sharply. Dubai World, the country's largest conglomerate, wants to suspend payment on its sixty billion dollar debts until next May at the earliest. RT's financial contributor Max Keiser says the World is entering the Phase Two of the global economic crisis.

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[Rythmboy]

looking at all those skyscrapers being built I have to ask myself if anybody actually occupies them. There's nothing backing dubai's economy except for tourism. In my opinion, that place is a big house of cards that's about to fall down.

[crumcon]

wow he predicted Greece fall way back in 2009!!! max is great

[sabykhanevents .]

serves this motherfuckers right.....soon dubai , america and uk will be bankrupt

[Glyptic SEA]

Omg Mr.bean

[WeEatBrainz]

I feel like some people in dubai sees skyscrapers as a sign of success. "Who cares if we can pay for it!!! WE NEED MOAR SKYSCRAPERS LAD!

[toplinecruiser]

check ur pockets b4 going to buy anything n dnt use credit cards and loans to purchase

[mohdfigo]

Dont forget oil. But yeah thats basically it hahahaha

[Dan Mcfallen]

So true