doobye

So the excesses of capitalism takes its toll. The latest being the emirate of Dubai with a $80Billion hole in its balance sheet. Without any concrete policy measures on how they are going to stimulate demand in their local economy one doesnt see how the bond holders will ever be paid back unless of course big brother Abudhabi were to pitch in with the required moolah. It was so pathetic watching big professional investors saying that this was a surprise as they always "expected" Abu Dhabi to bail Dubai out!! Sounds familiar doesnt it? If the US government is stupid enough to not let the rich lose any money - why would any other self respecting capitalist allow that to happen?!

Hence this is a major inflexion point for the doomsayers that all will fall down if one falls down. So Dubai cannot fail or else for most of the expats in dubai to borrow the catch phrase of the emirates "fly buy dubai" - it would look more like "bye bye Dubai".

doob - in hindi means to sink..