Dubai World

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Is Dubai World likely to bring down the American Banking System and force large losses on many US investors with secondary exposure to Dubai World debt.   NO.  But the Royal Bank of Scotland, as the lead loan arranger (p.s. now owned by none other than the British Citizens), may be getting a little skittish.

However, it is the tip of the iceberg of financial models of non-sustainability caused by Mania.  And don't miss the video link at the bottom to a Sam Kinison classic.

The first link here is my favorite, it sums it all up.  

http://www.dubaiworld.ae/en/Investments/Index.html

 Above is a collage I made from their Home page.

Below is a "development".  I betcha those contractors aren't exactly racing ahead when the bills arent getting paid.  And check the PDF below which is from their website on 11-29-09.

 http://assets.cdn.nakheel.com/jumeirahpark/pdfs/JP_latest_development_updates_2009.pdf

And a few links from our mates down under.

http://www.penny-hopefuls.com/australian/dubai-world-and-nakheel-projects-sparks-fears-of-global-crisis/

 http://www.australianstockwatch.com/2009/11/when-world-projects-come-crashing-down.html

The related part to this post comes in around the 5:00 minute mark in this video.  It is a good reminder about efficient allocation of resources in a sustainable manner.  Please review this important and funny video clip.

http://www.youtube.com/watch?v=K1GjyrQiSRs

The funny thing is that Dubai doesn't even have oil....they are living in a desert without oil.

http://oahutrading.blogspot.com/2009/08/mania-chronicles-and-dubai.html