Dubai Debt Nightmare; Questions and Answers about the Economy
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yeh, seems like that george4title is a bit of a scamster.
2 years ago 5
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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.
2 years ago 3
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All Comments (106)
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Your a good man Demcad. If only more people shared some of your ideals. Keep up the good work.
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l like this guy!!!!!!!!!!!!!!!
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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.
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Agree on local charities. Five stars!
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A decline of 45% FROM NOW?!?!?! Please pardon me, I'm going to go curl up in the fetal position for a little while.
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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.
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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?
2 years ago 3
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Like george4title, back burner news and MOT?
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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
bullseyejoe 2 years ago
I made an note in the video that index is predicting it.
Sorry for the confusion.
DEMCAD 2 years ago
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 2 years ago
But you'll be paying the same amount for insurance, mortgage, maintenance and repair.
DEMCAD 2 years ago
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.
TracyM1974 2 years ago
As more houses, become available, the prices will drop. And maybe some areas will only drop 20%, while others will drop 60%.
DEMCAD 2 years ago