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Don't Freak Out Over Dubai
I have read a few articles saying that the debt default by Dubai World is going to rock the global economy. I simply don't agree and was wondering what other people thought.
The debt being defaulted on is only about 80 billion. Yes, that is a lot of money, but it isn't that much compared to national economies or the big banks that had recent issues.
Yes, the stock markets in many regions of the world fell on the news of the Dubai problems, but many of them are already recovering as the investors put this problem into perspective.
A country like Dubai and their main company going into debt default is not a good thing, but it isn't something that seriously threatens the global economy.
The debt being defaulted on is only about 80 billion. Yes, that is a lot of money, but it isn't that much compared to national economies or the big banks that had recent issues.
Yes, the stock markets in many regions of the world fell on the news of the Dubai problems, but many of them are already recovering as the investors put this problem into perspective.
A country like Dubai and their main company going into debt default is not a good thing, but it isn't something that seriously threatens the global economy.
Tags: default, dubai, global, markets
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Replies to This Discussion
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Permalink Reply by paul on
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I agree that the Dubai issue is very containable, but in this economy I can understand how just about any bad news could send jitters through investors. Sorta like a girl or guy getting burned by a former lover and then not being able to completely trust someone in their next relationship.
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