Dubai In Danger? (12/14: $10B from Abu Dhabi)

[PatCummings]

Originally Posted by randallscott35

Not looking good for this country at all. Building skyscrapers in the desert maybe wasn't the best plan. Maybe they just need slot money for the purses?

http://www.bloomberg.com/apps/news?p...d=aRsjlClzl500

And for the record, Dubai is an emirate within the UAE, not its own country. Similar to California not being a country of its own, but a state within a country.

[10 pnt move up]

Originally Posted by PatCummings

And for the record, Dubai is an emirate within the UAE, not its own country. Similar to California not being a country of its own, but a state within a country.

wow, interesting....and kinda like California the government in that state (emirate) is doing its best to go under by spending too much.

Yeah they'll be stronger after this...or they'll be Iceland Part II. Either or.

[2Hot4TV]

Originally Posted by 10 pnt move up

wow, interesting....and kinda like California the government in that state (emirate) is doing its best to go under by spending too much.

That's the way I see it. Thanks Arnold.

[10 pnt move up]

Originally Posted by 2Hot4TV

That's the way I see it. Thanks Arnold.

Can Arnold (quasi-democrat) do anything other than hope the libs in Sacramento vote to cut spending? Or they could raise taxes again I suppose, might as well raise win take out to 20%, everyone needs to do their part.

[GenuineRisk]

Originally Posted by 10 pnt move up

Can Arnold (quasi-democrat) do anything other than hope the libs in Sacramento vote to cut spending? Or they could raise taxes again I suppose, might as well raise win take out to 20%, everyone needs to do their part.

California's problems date back much farther than Ah-nuld- all the way to 1978 and Prop 13, which allows progress to be held up by a minority of representatives.

[tector]

I have never understood racing's fascination with, or kowtowing to, these criminals, other than pure greed, which pretty explains it all. Dubai is and always has been a criminal state:

http://www.huffingtonpost.com/johann..._b_372795.html

Just as Switzerland had no qualms laundering the money (and stolen jewels and artwork, and ripped-out gold fillings) of the Nazis, so too have these dirtbags been happy banking the money of terrorists and tyrants for decades. But in our typical American way (easily adopted by the Euros) of finding that "wealth covers all sins", we have venerated these scoundrels into "racing's royalty".

I hope the whole place goes down in flames.

[10 pnt move up]

Originally Posted by GenuineRisk

California's problems date back much farther than Ah-nuld- all the way to 1978 and Prop 13, which allows progress to be held up by a minority of representatives.

before my time but I will do a google stalk to find out about it...I think California should be a great lesson the rest of the country about too many social programs and high taxes.

[Echo Farm]

Here's another article (long) about Dubai.

http://www.independent.co.uk/opinion...i-1664368.html

[10 pnt move up]

Originally Posted by GenuineRisk

California's problems date back much farther than Ah-nuld- all the way to 1978 and Prop 13, which allows progress to be held up by a minority of representatives.

by "progress" do you mean more taxes? Reading the legislation it seems without it that the extraordinarily high tax situation would be even worse in CA?

[2Hot4TV]

Originally Posted by GenuineRisk

California's problems date back much farther than Ah-nuld- all the way to 1978 and Prop 13, which allows progress to be held up by a minority of representatives.

California's problem is the same as the United States of America. We just cant stop spending. It has nothing to do with prop 13 at all.

[Kasept]

Dubai gets $10B from Abu Dhabi to cover debt
Dubai's government says it gets $10 billion from Abu Dhabi to cover debt as deadline arrives

By Adam Schreck, AP Business Writer
On 8:49 am EST, Monday December 14, 2009

http://finance.yahoo.com/news/Dubai-...67649.html?x=0

DUBAI, United Arab Emirates (AP) -- Dubai got a $10 billion lifeline from oil-rich Abu Dhabi to save one of its prized companies from imminent default Monday, calming fears for now about the city-state's shaky finances. Dubai's main stock market spiked more than 10 percent on the news.

Dubai World -- a sprawling conglomerate with assets ranging from the oceanliner Queen Elizabeth 2 to luxury retailer Barney's New York -- had been up against a Monday deadline to repay a pile of loans from its Nakheel property division. Some $4.1 billion of the emergency funds will be used to pay off those bills. The rest will go to shore up Dubai World itself.

Dubai officials' reluctance to fully stand behind Dubai World's $60 billion in debts had raised serious concerns about the emirate's creditworthiness, and the move by Abu Dhabi appeared aimed at quashing those worries before they undercut confidence in the United Arab Emirates as a whole. The two emirates share control of the UAE, a federation of seven semiautonomous city-states.

[Antitrust32]

Originally Posted by 10 pnt move up

wow, interesting....and kinda like California the government in that state (emirate) is doing its best to go under by spending too much.

Ah wonder what will happen to the USA in the future? I mean we dont spend much over here, do we?