Slope of Hope provides interesting perspective on the Dubai crisis…via Boston Wealth:
Dubai is a minor aftershock! The real big story to bring the markets down in 2010 is going to be something else.. I mean Dubai is chump change.. to wit from the sovereign GCC countries:
- Abu Dhabi lost 183 billion yes billion so far or 40% of its investments.
- Qatar lost 27 billion or 40%
- Kuwait lost 94 billion or 35%
- Saudi Arabia lost 162 billion or 12%…
Add them up! $466 billion and our bailout was $250 billion and up to $700 billion ..so that region is already down almost twice us much as we are!!!! Now how much was our bailout.. look how much they lost.. where is the outrage and market meltdown over that.. we are now worried about postponing of some 50 billion by Dubai!… small potatoes compared to what the region has also lost..
You really have to understand the politics of the region! Has anyone stopped for a minute to see that this is a smoke screen diversion to take away what a deposed ruler of one of the emirates has been doing in New York as recently as last month! http://www.nypost.com/p/news/local/sheik_takes_ny_bus_in_royal_war_hmrILwZhRFNG25uDW83TiI
And yes the UAE is very afraid of being attacked by Iran! http://www.sheikhkhalidrak.com/blog/
as Iran has already unilaterally taken over some of the UAE’s fresh strategic Straight of Hormuz islands
Here’s an interesting chart from the Slope of Hope. The head and shoulders pattern is a classic chart pattern that technical analysts associate with a subsequent major collapse. This one shows the percent of population working and how it might reach a possible target around where it was in the 1980′s. This would be consistent with many more families becoming single wage earner families again – but not by choice…